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The Barnett Shale is a geological formation located in the Bend Arch-Fort Worth Basin. It consists of sedimentary rocks dating from the Mississippian period ( A Blog dedicated to news about the Barnett Shale in Texas and and other news about the oil and gas industry.
The company plans to drill an additional 13 9. The Company drilled 9 wells in the first quarter and placed 10 wells on production.
Pioneer is operating two rigs in the play and plans to increase to four rigs in The internal rate of return has been impacted by the low gas price environment. Range currently has about , net acres in the Barnett Shale play. This is the proven part of the play and we still have over locations to drill in these areas.
In the second quarter, the Southwest Division continued its success while running two rigs. In the Barnett Shale formation, the Company completed four wells with excellent results.
In Johnson County, two wells were completed with a combined rate of 6. Located in the Fort Worth Basin of Erath County, Texas, we have an interest in nearly 8, net acres and are examining development opportunities. We have acquired 3D seismic under both blocks, drilled one horizontal well, and completion operations are expected to commence during the second quarter as construction of a pipeline by a third party is completed. However, during the first quarter of the Company sold a significant inventory of NGLs which had been produced but not sold during the third and fourth quarters of due to plant shutdowns caused by Hurricane Ike.
This sale will have an effective date of January 1, and is expected to close in late April, subject to customary closing conditions and purchase price adjustments. The producing properties that are being sold include gross approx. Copyright c OilShaleGas. Looking for a job? Stay tuned for further news.
Leasehold acreage in Parallel's Barnett Shale gas project consists of approximately 31, gross 9, net acres located in and around the Trinity River flood plain, east and west of downtown Fort Worth. At present, the project controls approximately 75 multi-well pad sites. Unlike other shale gas plays such as the Barnett Shale, the natural gas from the Antrim appears to be biogenic gas generated by the action of bacteria on the organic-rich rock.
The first Barnett Shale well was completed in in Wise County. In contrast to older shale gas plays, such as the Antrim Shale , the New Albany Shale , and the Ohio Shale , the Barnett Shale completions are much deeper up to 8, feet.
The success of the Barnett has spurred exploration of other deep shales. In , the Barnett shale Newark East gas field produced 1. In April , Baker Hughes reports that there are 0 rig currently in activity at the Barnett gas field. That doesn't mean 0 production as there are still plenty of wells already drilled but yet to be harvested.
The formation has become a gas producer since the large success of the Barnett play. In —, wells were drilled to produce gas from the Cambrian Conasauga shale in northern Alabama.
Clair, Etowah, and Cullman counties. The shale gas was originally produced through vertical wells, but operators are increasingly going to horizontal wells in the Fayetteville. In , the United States Geographic Survey reported that Colorado alone had enough oil baring shale deposits to make 20, million barrels of crude oil; of which, 2, million barrels of gasoline then could be refined.
The wells are in Montezuma County, Colorado , in the southeast part of the Paradox basin. A horizontal well in the Gothic flowed 5, MCF per day. Although the Jurassic Haynesville Shale of northwest Louisiana has produced gas since , it has been the focus of modern shale gas activity only since a gas discovery drilled by Cubic Energy in November The Cubic Energy discovery was followed by a March announcement by Chesapeake Energy that it had completed a Haynesville Shale gas well.
Natural gas is produced from the Collingwood shale and the overlying Utica shale. The Michigan public land auction took place in early May in one of "America's most promising oil and gas plays". The New Albany has been a gas producer in this area for more than years, but recent higher gas prices and improved well completion technology have increased drilling activity.
As of , operators had completed approximately 50 wells in the Pearsall Shale in the Maverick Basin of south Texas. The upper Devonian shales of the Appalachian Basin , which are known by different names in different areas have produced gas since the early 20th century. The main producing area straddles the state lines of Virginia , West Virginia , and Kentucky , but extends through central Ohio and along Lake Erie into the panhandle of Pennsylvania. More than 20, wells produce gas from Devonian shales in the basin.
The shale most commonly produced is the Chattanooga Shale , also called the Ohio Shale. The Devonian Woodford Shale in Oklahoma is from 50 to feet 15 — 91 m thick. Although the first gas production was recorded in , by late , there were only 24 Woodford Shale gas wells. By early , there were more than Woodford gas wells. The play is mostly in the Arkoma Basin of southeast Oklahoma, but some drilling has extended the play west into the Anadarko Basin and south into the Ardmore Basin.
In , production from the Woodford Shale peaked and was declining. In the United States, development of shale resources supported , jobs in Similarly, the National Association of Manufacturers estimated that high recovery of shale gas and lower natural gas prices will help U. One study finds that hyraulic fracturing has contributed to job growth and higher wages. The results of the study "suggest new oil and gas extraction led to an increase in aggregate US employment of , and a 0.
The price increase of the latter is most likely due to the royalty payments that property owners get from gas extracted under their land. The issue of whether to export natural gas has split the business community. Manufacturers such as Dow Chemical are battling energy companies such as Exxon Mobil over whether the export of natural gas should be allowed. Manufacturers want to keep gas prices low, while energy companies have been working to raise the price of natural gas by convincing the government to allow them to export natural gas to more countries.
In , many companies were cash flow negative; however, the companies that were cash flow positive were focused on quality land instead of quantity. A study found that shale booms increase nearby support for conservatives and conservative interests. All of this change occurs at the expense of Democrats. Complaints of uranium exposure and lack of water infrastructure emerged as environmental concerns for the rush.
Methane release contributing to global warming is a concern. All the more so since Total is not known for highly risky deals, so chances are there is still quite a lot of natural gas left in North Texas.
This, however, only has significance over the long term because gas prices are unlikely to soon go back to levels high enough to support a meaningful increase in drilling at the Barnett shale, as energy expert Arthur Berman notes in a detailed analysis.
Chances are, Total is prepared to wait as long as necessary to get some value out of its latest acquisition, which cost it about a quarter of what it had paid for the initial 25 percent interest. The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
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The profit potential of the Barnett Shale gas play has spurred companies to search for other sources of shale gas across the United States.
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