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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (1434)	1/26/2014 3:56:40 PM
From: Goose94	Respond to of 202922

MGM Energy (MGX-V) betting big in the Arctic Jan 20, '14 The Globe and Mail reports in its Saturday edition that ConocoPhillips is set to employ horizontal drilling and hydraulic fracturing technology on wells in the Canol shale oil play in the Central Mackenzie Valley in February. The Globe's Carrie Tait writes that the last drilling boom occurred in the 1970s and 1980s. The industry drilled hundreds of wells and made many oil and gas discoveries, but very little of the resources have been produced. Now, a combination of improved technology, more open seas and the expectations of rising oil prices have rekindled interest in the region. Oil companies are considering drilling deep-water wells for the first time, reviving shallow water drilling plans and making moves to crack open the rocks in the Canol shale play in the Sahtu region. Husky Energy is also in the neighbourhood, building roads and hoping to drill horizontal wells in the winter of 2015-16. MGM Energy in December applied for a significant discovery licence. Royal Dutch Shell PLC and MGM are partners. "The Sahtu development could become one of the more significant economic drivers in the NWT," said Northwest Territories director of minerals, oil and gas Tim Coleman.