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To: DinoNavarre who wrote (142035)	11/20/2010 10:16:13 PM
From: cgregg	Read Replies (1) \| Respond to of 206106

Shale Oil will also become a hot topic in Europe. Though the focus at the moment is on shale gas in Europe with players such as ConocoPhillips, Exxon, Chevron and Talisman proceeding with shale gas exploration in Poland (and Shell in Sweden), keep an eye out for Toreador, Vermillion and undoubtedly others in the Paris Basin of France and other areas that are going to come under increasing attention for their attractiveness for shale oil www.naturalgasforeurope.com

To: DinoNavarre who wrote (142035)	6/25/2011 9:10:22 AM
From: Dennis Roth	Read Replies (1) \| Respond to of 206106

Permian Resurrection US producers break new ground in Texan basin June 23, 2011 8:04 pm ft.com By Sheila McNulty in the Permian Basin US oil companies are rushing to stake claims in the Permian Basin as new technology opens up previously uneconomic rock in the most oil-rich part of the nation. Chevron, Devon Energy, Apache and others are acquiring acreage and stepping up drilling operations – some by more than 50 per cent – after they discovered the same horizontal drilling and multi-staged hydraulic fracturing that led to a trebling of US natural gas supplies in recent years could also economically extract oil from shale and other tight rocks. “It’s a major, major modern boom,” said Pete Stark, a vice-president at IHS CERA, the energy consultancy. The number of rigs drilling in the biggest, Texas portion, of the Permian has risen from 68 in June 2009 to 357 in June 2011. “That’s a real good metric to define hot,” Mr Stark said. Apache is among the most aggressive, running 25 rigs in the Permian, up from five a year ago, with plans to drill 550 wells this year, up from 263 last year. And while prices range for acreage across the area, Apache said the last Texas lease sale sold at more than $6,000 an acre – double that of six months ago. “Shale is something people didn’t think about producing,’’ said Don Mayberry, production superintendent for Devon Energy, which has accumulated 1m acres in the Permian over more than two decades through a series of mergers and acquisitions. “People have been drilling through it for years.” Since the first commercial well was drilled in the 1920s, about 40bn barrels of oil equivalent have been produced, 30bn of which were oil. That leaves projections of 60bn left in the ground, according to Chevron. “There is a reason we never got out of the Permian,’’ said Mitch Mamoulides, Chevron’s manager for the Permian south. “We’ve only produced a fraction of what is down there, and we keep getting more and more of it.” Mr Stark added that Texas oil production – which peaked at 1.9m barrels a day in 1974 and fell to 1m in 2008 – had risen more than 20 per cent to 1.2m b/d since the industry began refocusing on the Permian. “The Permian Basin is absolutely undergoing a renaissance,” he said. He added that the industry was also using the new technology on conventional fields. “Every single rock in the Permian Basin that has produced oil in the past is being revisited.” For years Chevron has let partners drill on the 4m acres it has spent decades accumulating but last year it began drilling more of its own wells for 100 per cent returns. This year it is stepping up operations, drilling 350 wells up from 200 in 2010. Other, smaller operators, such as Concho Resources, are following suit, with about a 1,000 of them now operating in an area. “For years the Permian just coasted,” said Mr Mayberry. “Since the price of oil has gone up and drilling improved, we’ve seen a boom out here.” Copyright The Financial Times Limited 2011. You may share using our article tools.

To: DinoNavarre who wrote (142035)	9/10/2011 2:41:15 PM
From: Dennis Roth	1 Recommendation Read Replies (2) \| Respond to of 206106

EOG sees Wolfcamp as next big U.S. oilfield reuters.com HOUSTON, Sept 8 \| Thu Sep 8, 2011 4:10pm EDT HOUSTON, Sept 8 (Reuters) - A shale formation in the U.S. Permian basin will likely be a significant producer of crude oil, Mark Papa, the chief executive officer of oil and gas company EOG Resources Inc (EOG.N) told investors on Thursday. "This play is truly in the first inning," Papa told Barclays CEO Energy-Power Conference in New York, adding that the Wolfcamp formation eventually could be one of the largest oilfields in U.S. history. "We've seen enough of the data from our drilling out there," he said in remarks broadcast over the Internet. The Wolfcamp spans parts of West Texas and southern New Mexico and is estimated to have gross oil reserves of 2.1 billion barrels oil equivalent but shale oil recovery rates are typically low. Crude oil prices would need to drop below $60 per barrel for companies to cut back on oil shale exploration, Papa said. (Reporting by Anna Driver in Houston, editing by Matthew Lewis)