GDF - Shale Drilling and the Environment

GDF voices a need for improvements before development and hydraulic fracturing move forward in Europe. I'm not sure if the CEO is saying fracking actually needs to improve or if the understanding of the technology and application needs to improve.

The technology used to extract oil and gas from shale rocks, a process that has revolutionized the U.S. energy industry, should be improved to protect the environment, the head of Europe’s largest gas company said.

“There are concerns about the environmental impact,” Gerard Mestrallet, chief executive officer of GDF Suez (GSZ) SA, said in an interview at Bloomberg’s headquarters in New York. “Probably it can be improved and probably it has to be improved.”

Hydraulic fracturing, a technique that uses water, sand and chemicals to break apart rocks and release trapped fuel, has made the U.S. the world’s largest natural gas producer. That success hasn’t quelled concern that fracking, as the process is known, risks polluting drinking water.

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Eagle Ford Well Results Consistent Across EOG's Acreage

EOG Resouces is finding well results are "similar" across its entire acreage position that stretches from Lavaca County all the way down to La Salle County. That's promising for mineral owners and other industry participants alike.  EOG now has 22 rigs drilling in play and that's up from 10 at the beginning of the year. The company also has acreage in Webb County, but is directing drilling to its liquids rich acreage.

"We are finding that well results across our 535,000 net acre position in the Eagle Ford oil window are remarkably similar. The wealth of drilling, completion and production data at our fingertips is reflected in the steadily rising momentum of our operations and success in achieving more predictable results," Papa said.



Schlumberger - Service Demand Strong in the Eagle Ford

Schlumberger CEO Andrew Gould says the service market is supported by liquids production and pressure pumping demand in the Eagle Ford Shale. The Eagle Ford's liquid production demands more services than a typical gas well. The demand for pressure pumping equipment is helping hold prices in the service industry.

In particular, demand for pressure-pumping gear used to extract oil and natural gas liquids from U.S. shale fields such as the Eagle Ford of southern Texas will feed growth and keep pricing firm, Gould said .

These oil and gas fields require more equipment than others — a boon for services providers, he said.

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Shale Oil Jobs, Opportunity, and Entrepreneurs

The unemployed and those seeking better jobs in South Texas have shifted to become the entrepreneurs of our day.  People are opening RV Parks, Hotels, and restaurants to capitalize on the influx of oil field workers.  If you're looking for Eagle Ford Shale Jobs  or applicants for your open positions, visit our Eagle Ford Shale Jobs Listings

"Oil workers are descending on South Texas to drill for oil and natural gas in the Eagle Ford Shale. Their arrival has been a boom for the region and has created entrepreneurs all over the area.""Two things oil workers probably need the most: a place to eat and sleep."


"Hotels and RV parks are springing up in just about every town, big and small."

" Next door to the park, an old country store has been converted into a new restaurant. My Little Angels is just three months old. Business has been so good, owner Becky Romero has had to add five new employees. Because four new rigs are going up close to the restaurant, she is expecting more business."

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NY Times Ignored Shale Oil Economics

The New York Times article, that has gotten more publicity than it deserves, failed to mention the thriving economics of the booming shale oil plays.  The Eagle Ford Shale and Bakken Shale both look good under current commodity prices.  There are also many other liquids-rich plays, like the Granite Wash, that are activity drilled even at today's natural gas prices.

"But the articles largely ignore the economics of the Eagle Ford Shale and other unconventional fields that produce large amounts of high-value oil, condensate and natural gas liquids such as butane, ethane and propane. In general, exploration and production firms have shifted production from dry-gas fields to liquids-rich plays that offer superior profitability. Many investors have picked up on this distinction; stocks of companies that have failed to make this transition have underperformed.""Many leasing contracts require operators to sink a commercially viable well within an established period to secure the acreage."

"This involuntary drilling activity catalyzed a wave of joint ventures and acquisitions that have occurred in recent years--an important source of capital to support these programs. Many of the acquirers are large, integrated energy companies that boast bulletproof balance sheets and can afford to take a long-term view on natural gas prices and demand."

"For example, Marathon Oil Corp (NYSE: MRO) paid $3.5 billion for 141,000 acres (about $21,000 per acre) in the Eagle Ford Shale from Hilcorp Resources Holdings LP. The deal surpassed Korea National Oil Corp paid $16,000 per acre to Anadarko Petroleum Corp (NYSE: APC) to establishing a foothold in this hot shale play."

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