Other Unconventional Oil

Other Unconventional Description ImageIn addition to the well-known gas shale plays like the Barnett, Haynesville, Marcellus, and Eagle Ford, and oil plays like the Bakken, there are perhaps dozens of smaller, less well-known resource plays, many of which are in the very early stages of exploration and development. Some of the plays are shale and others are tight gas or coalbed methane. Many are in the United States and Canada, but increasingly exploration and production companies are using modern drilling and production technology to develop natural gas and oil from unconventional subsurface formations in Europe and Asia. Doubtless, unconventional resources eventually will be exploited in Africa, South America, and Australia as well. What we call “unconventional” today will be considered “conventional” in time.

Other Unconventional Oil News

ICF: CHANGE SECTION 29 TAX CREDITS

Aug 10, 1992 Federal tax credits for producing U.S. unconventional gas should be changed to restore original energy objectives of Congress, says ICF Resources Inc., Fairfax, Va. ICF suggests how Section 29 tax credits might be changed in an analysis drawing on a confidential survey of 60 producers of unconventional gas resources (UGRS) and two earlier ICF Section 29 studies. The analysis comes at a time when Section 29 incentives are stirring debate in Congress and controversy in the U.S. gas industry.

OPPORTUNITIES SEEN AMID GLOOM AT IADC MEETING

Sep 28, 1992 Gloom permeates the U.S. drilling sector, with little prospect of a significant turnaround soon. However, there remain some bright spots for U.S. drilling contractors, notably in a suddenly resurgent U.S. natural gas outlook and in new opportunities for work in other nations. Those themes dominated the annual meeting of the International Association of Drilling Contractors (IADC) in Houston last week. Reed Tool Co.'s gloomy status report, followed by other companies' bleak assessments

OGJ NEWSLETTER

Sep 28, 1992 Even the first pullout of an OPEC member can't undermine stability in oil prices (see story, p. 34). Markets shrugged off the withdrawal of Ecuador from the group, which this month agreed to maintain current production in the fourth quarter, a time of increasing demand that usually spurs a boost in OPEC quotas. Nymex light sweet crude closed Sept. 23 at $22/bbl, about flat on the week and within $1 of where it's ranged since the end of spring.

OGJ NEWSLETTER

Oct 12, 1992 Will Iraq be a market nonfactor long enough for world oil demand to catch up?

TIGHT GAS SANDS DRILLING BUOYING U.S. E&D ACTIVITY

Nov 2, 1992 Patrick Crow Washington Editor A.D. Koen Gulf Coast News Editor U.S. federal tax credit for drilling wells in tight gas sands formations has contributed significantly to U.S. exploration and development activity. The credit, due to expire for new wells at yearend, has been a key factor in the rebounding U.S. active rig count in second half 1992. Drilling in tight gas sands currently accounts for as much as one third of the active U.S. rig count.

YEAR TO YEAR DRILLING PACE LOOKS STEADY IN U.S.

Jan 26, 1993 G. Alan Petzet Exploration Editor Robert J. Beck Economics Editor Operators in the U.S. are expected to drill approximately the same number of wells this year as they did during 1992. Total drilling for 1992 appears not to have fallen to the abysmal levels predicted, in large part due to a yearend surge as operators pulled out the stops to take advantage of expiring federal tax credits. It is difficult to tell the two years apart in the statistics for many states from Oil and Gas Journal's

SUPPLY/DEMAND CONCERNS TOP U.S. GAS INDUSTRY AGENDA IN '93

Apr 26, 1993 Patrick Crow Washington Editor A. D. Koen Gulf Coast News Editor A tighter fit between supply and demand in U.S. gas markets is boosting spot market and futures contract prices to unexpected levels, sustaining a year long rally. Market balance and higher wellhead prices have been awaited for the past decade as signs that a gas industry recovery could be under way. But a slim gap between gas supply and demand could portend adversity as much as advantage. And if prices increase too much, too

ENRON'S 1993 OUTLOOK FOR U.S. GAS REFLECTS NEW TECHNOLOGIES, MARKETS

May 3, 1993 Margaret Carson, Bruce N. Stram, Michael A. Roberts Enron Corp. Houston Enron Corp., Houston, has revisited its 1991 outlook for U.S. natural-gas supplies, revising upward by 8.6% its view of the nation's natural-gas resource base. As of Jan. 1, 1993, Enron's U.S. resource assessment for the Lower 48 is 1,303 tcf, or more than a 70-year resource life at the 17.6 tcfy 1992 production rate (Fig. 1). In 1991, Enron had foreseen 1,200 tcf of undiscovered and potential resources (including

DEEP GAS EXPLORATION NEEDED IN CENTRAL SWISS OVERTHRUST

Jun 7, 1993 Bernhard A. Gunzenhauser and H. Philippe Bodmer T iefengas Konsortium Swisspetrol/Sulzer Kriens, Switzerland The Tiefengas Konsortium Swisspetrol/Sulzer (TGK), a joint exploration affiliate of Swisspetrol Holding Ltd. and Sulzer Brothers Ltd., has recently concluded an extensive exploration campaign for deep natural gas in its concession area in the north alpine overthrust belt of Central Switzerland (Fig. 1).

EIA LISTS DECLINE IN U.S. OIL, GAS, GAS LIQUIDS

Oct 4, 1993 A tally by the Energy Information Administration shows U.S. proved reserves of oil, gas, and gas liquids declined in 1992 due to low oil and gas prices that reined drilling. EIA said oil reserves were down 937 million bbl, or 3.8%, to 23.745 billion bbl, largely because low prices pushed oil well completions down 28% to 8,640, a 20 year low. The 3.8% drop was more than twice the average decline of 1.7%/year for the past decade. While most areas had declines, two areas accounted for 73% of the

INTERNATIONAL SEISMIC CREW COUNT

Jan 3, 1994 Russia's North East Petroleum Operating Agency (NEPO) has called for comments from international oil companies about proposed lease sale terms for tenders ending next spring of Primagadan area off Magadan oblast in Okhotsk Sea and East Khatyrka area off Chukotka in the Bering Sea (OGJ, May 10. p. 21). The comments also are to influence later offerings of 14 other offshore areas in the Russian Far East. Halliburton Energy Services, Houston, is coordinating responses and forwarding remarks to

ALASKAN OIL AND GAS PROSPECTS: BOOM OR BUST?

Feb 14, 1994 Thomas J. Woods Gas Research Institute Washington, D.C. Alaska contains the largest oil field discovered in the U.S. as well as many other large oil fields. Large gas discoveries have also been made, but because of its remote location relative to existing gas markets, little Alaskan gas has been produced or is currently booked as proved reserves. Based on the large discoveries to date, some parts of Alaska could be among the richest oil and gas provinces in North America or even the world.

A FIRST: U.S. NATURAL GAS WELLHEAD VALUE TOPS OIL'S

Feb 28, 1994 The value of natural gas production in the U.S. in 1993 exceeded that of crude oil output for the first time in history. The reversal owes as much to trends in price as in production and, most recently, record frigid weather in much of the U.S. Another key factor is a newly revitalized, restructured gas industry operating in the most unfettered regulatory environment in recent memory.

ANTRIM GAS PLAY, PRODUCTION EXPANDING IN MICHIGAN

May 30, 1994 Devonian Antrim shale gas, the Michigan basin's dominant hydrocarbon play in terms of number of wells drilled for several years, shows every sign of continuing at a busy pace. About 3,560 Antrim completions now yield 350 MMcfd, more than 60% of Michigan's gas production. Antrim averaged about 23 MMcfd statewide during 1985-86, Michigan Geological Survey figures show. The outlook is for Antrim production to climb in the next 2-3 years to 500-600 MMcfd, about 1% of U.S. gas output.

INDUSTRY BRIEFS

Jun 20, 1994 A FEDERAL JURY in Anchorage found Exxon Corp. and former Exxon Valdez tanker Capt. Joseph Hazelwood acted recklessly in the 1989 oil spill off Alaska. That opened the door for more than 10,000 plaintiffs to pursue $15 billion in potential punitive damages related to the spill. The trial's next phase, to begin next month, will assess the amount of punitive damages. Exxon contends no punitive damages should be awarded because it has spent more than $3 billion in cleanup and settlement
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