Anadarko Petroleum has set a 2010 capital pending plan of $5.3 billion to $5.6 billion, and expects an average annual production growth rate of 7% to 9% during the next four years.
Production growth will be driven by development of the company’s shale gas holdings in the onshore US and several oil-weighted, deepwater [...]
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Royal Dutch Shell Plc and Devon Energy Corp. may join Exxon Mobil Corp. as buyers of U.S. shale- gas producers or projects, the chief executive officer of gas developer Range Resources Corp. said. When Halliburton announced its fourth-quarter results this week, the headline news was that earnings had plunged nearly 50% over the previous year. But investors are looking beyond that. Shares of Halliburton are up 35% over the past six months, versus a gain of 18% for arch-rival Schlumberger and a loss of 11% for number-three oil [...] By Jason Womack Billionaire oil investor T. Boone Pickens said this past Wednesday, that he doubts a $26 billion natural gas pipeline from Alaska will be built any time soon as abundant new shale gas supplies reduce the need for the expensive project. The Fort Worth Business Press carried an article this week called: “Shale plays push up natural gas supplies to record levels”. It was written by Robert Francis. FORBES (June 5, 2009) — Haynesville Shale (LA and Eastern Texas, discovered in Dec. 2008) is touted as the largest natural gas field in the continental U.S. About 200 feet thick, the stream of shale lurks two miles under the pastures, trailer homes and piney woods of the region. The 3 million-acre formation stretches into [...] Unconventional gas resources– tight gas sands, coalbed methane and gas shales– have become a mainstay of the U. S. natural gas industry. From an emerging resource a decade ago, and a mostly overlooked resource two decades ago, unconventional gas is now a core business of many large independent producers as well as independent junior [...] Organically rich natural gas shales leads the industry. Natural gas shale reservoirs were once ignored by drillers seeking a faster and easier return on their investments, but today natural gas shale plays in the United States are booming! The challenge with shale gas is to release it from rock that is as impermeable [...] HOW IS SHALE GAS FORMED ? There are two theories as to how natural gas is formed. The most widely accepted theory, the organic theory, maintains that natural gas formation begins with photosynthesis, where plants use energy from the sun to convert carbon dioxide and water into oxygen and carbohydrates. The remains of these plants and [...] |
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