By Andrea: http://oilshalegas.com
Sharewell Energy Services recently announced the completion of a 13,000 ft well located in the Green River Formation.
Sharewell Energy Services, a division of Sharewell L.P. announced that it just completed the drilling of a well in the Rocky Mountain area with its proprietary Electro-Magnetic Measurement While Drilling System (EM MWD) (Electro-Trac(TM)) to a depth in excess of thirteen thousand feet (13,000 feet). This is a record depth for Sharewell's state-of-the-art EM MWD technology.
Electro-Trac(TM) successfully steered and surveyed the above well to a measured depth of 13,065 feet (12,902 feet TVD) accumulating 700+ circulating hours without failure. This was accomplished without the use of repeaters or hard wiring. The Electro-Trac EM MWD was developed with initial funding from a Department of Energy (DOE) grant as part of the Deep Trek Initiative. Part of the Deep Trek Initiative's focus was to develop lower cost methods of developing deep gas via development of a unique Electro Magnetic transmission system.
Conventional EM MWD systems have depth limitations due to their inability to generate the required amplitude necessary to penetrate the increasing overburden of the surrounding geology, and/or detect and adequately filter the ambient noise. EM MWD technology is preferred over traditional, "mud pulse" MWD systems which require generation and subsequent acquisition of fluid pressure changes to transmit the required data. EM MWD saves operators substantial survey time which translates into cost savings for oil and gas operators.
Sharewell L.P. is successfully operating the Electro-Trac(TM) MWD system in multiple reservoirs/basins including Eagleford Shale, Barnett Shale, Marcellus Shale, New Albany Shale, Fayetteville Shale, Antrim Basin, San Juan Basin, Piceance Basin, and Uinta Basin.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Tuesday, April 12, 2011
Contango Oil and Gas Co. (MCF): Fayetteville Shale Update
By Andrea: http://oilshalegas.com
Contango Oil & Gas Company (MCF) announced today that it has committed to invest up to $20 million over the next two years, in a joint venture that will acquire, operate, explore, and develop onshore unconventional shale operated and non-operated oil and natural gas assets (including undeveloped oil and gas leasehold interests), as well as produce and sell any hydrocarbons produced from such assets. Other participants include Alta Resources, LLC and Blackstone Capital Partners.
Kenneth R. Peak, Contango's Chairman and Chief Executive Officer, said, "We are pleased about the opportunity to be partners once again with Joe Greenberg and Alta Resources. Alta was our partner in our very successful Fayetteville Shale investment and they have been leaders in recognizing and capturing value in shale plays. We also look forward to being partners with Blackstone with their financial acumen and expertise."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Contango Oil & Gas Company (MCF) announced today that it has committed to invest up to $20 million over the next two years, in a joint venture that will acquire, operate, explore, and develop onshore unconventional shale operated and non-operated oil and natural gas assets (including undeveloped oil and gas leasehold interests), as well as produce and sell any hydrocarbons produced from such assets. Other participants include Alta Resources, LLC and Blackstone Capital Partners.
Kenneth R. Peak, Contango's Chairman and Chief Executive Officer, said, "We are pleased about the opportunity to be partners once again with Joe Greenberg and Alta Resources. Alta was our partner in our very successful Fayetteville Shale investment and they have been leaders in recognizing and capturing value in shale plays. We also look forward to being partners with Blackstone with their financial acumen and expertise."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Magnum Hunter Resources (MHR): Marcellus Shale Update
By Andrea: http://oilshalegas.com
Magnum Hunter Resources Corporation (MHR) announced this afternoon that the Supreme Court of British Columbia today issued a final order approving the acquisition by Magnum Hunter of NGAS Resources, Inc. in an all-stock transaction structured as a statutory arrangement under British Columbia law, where NGAS is organized. NGAS Resources' primary function is in the Appalachian Basin where Marcellus Shale can be found.
Additionally, the NGAS shareholders approved the acquisition of NGAS by Magnum Hunter on April 8, 2011. The transaction, which is subject to additional closing conditions, is expected to close tomorrow, April 13, 2011. Upon closing of the transaction, each outstanding common share of NGAS will be transferred to Magnum Hunter for the right to receive 0.0846 shares of Magnum Hunter common stock, and NGAS will become a wholly-owned subsidiary of Magnum Hunter.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Magnum Hunter Resources Corporation (MHR) announced this afternoon that the Supreme Court of British Columbia today issued a final order approving the acquisition by Magnum Hunter of NGAS Resources, Inc. in an all-stock transaction structured as a statutory arrangement under British Columbia law, where NGAS is organized. NGAS Resources' primary function is in the Appalachian Basin where Marcellus Shale can be found.
Additionally, the NGAS shareholders approved the acquisition of NGAS by Magnum Hunter on April 8, 2011. The transaction, which is subject to additional closing conditions, is expected to close tomorrow, April 13, 2011. Upon closing of the transaction, each outstanding common share of NGAS will be transferred to Magnum Hunter for the right to receive 0.0846 shares of Magnum Hunter common stock, and NGAS will become a wholly-owned subsidiary of Magnum Hunter.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
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