Magnum Hunter Resources (MHR) - Utica Shale

By Tim - http://oilshalegas.com

Utica Shale News - Magnum Hunter Resources Corporation (NYSE: MHR) provides an update on the Utica Shale located in Noble County, Ohio.

Magnum Hunter Resources Corporation (NYSE: MHR) announced today that its wholly-owned subsidiary, Triad Hunter, LLC ("Triad Hunter"), has closed on the acquisition of leasehold mineral interests located predominately in Noble County, Ohio (the "Utica Acreage") from an undisclosed seller for a total purchase price of $24.8 million.

The Utica Acreage consists of approximately 15,558 gross (12,186 net) acres predominately located in Noble County, Ohio. The net price paid per acre for this acquisition was $2,037. The majority of the leasehold acreage acquired in this transaction is held by shallower production. The purchase includes all depths of 300 feet below the top of the Queenston Formation down to all further depths. There is no associated shallow production included with this acquisition. There is a possibility of a second closing on another block of similar acreage that may occur on or before April 16, 2012, assuming the Seller can satisfy certain title deficiency requirements.

The Utica Acreage is in close proximity to Triad Hunter's existing acreage position in Washington and Noble Counties, Ohio, and now provides Triad Hunter approximately 18,187 gross (14,815 net) acres in in these two counties, and a total of 23,214 gross (17,316 net) acres that are presently prospective for the Utica Shale..

http://blackberrystocks.blogspot.com/

http://oilshalegas.com/uticashale.html

Noble County, Ohio - Utica Shale

By Tim - http://oilshalegas.com

Utica Shale News - Magnum Hunter Resources Corporation (NYSE: MHR) provides an update on the Utica Shale located in Noble County, Ohio.

Magnum Hunter Resources Corporation (NYSE: MHR) announced today that its wholly-owned subsidiary, Triad Hunter, LLC ("Triad Hunter"), has closed on the acquisition of leasehold mineral interests located predominately in Noble County, Ohio (the "Utica Acreage") from an undisclosed seller for a total purchase price of $24.8 million.

The Utica Acreage consists of approximately 15,558 gross (12,186 net) acres predominately located in Noble County, Ohio. The net price paid per acre for this acquisition was $2,037. The majority of the leasehold acreage acquired in this transaction is held by shallower production. The purchase includes all depths of 300 feet below the top of the Queenston Formation down to all further depths. There is no associated shallow production included with this acquisition. There is a possibility of a second closing on another block of similar acreage that may occur on or before April 16, 2012, assuming the Seller can satisfy certain title deficiency requirements.

The Utica Acreage is in close proximity to Triad Hunter's existing acreage position in Washington and Noble Counties, Ohio, and now provides Triad Hunter approximately 18,187 gross (14,815 net) acres in in these two counties, and a total of 23,214 gross (17,316 net) acres that are presently prospective for the Utica Shale..

http://blackberrystocks.blogspot.com/

http://oilshalegas.com/uticashale.html

Oil Discovery in Texas 2012 - Apache (APA)

By Tim - http://oilshalegas.com

Apache (APA) recently came out and discussed a new emerging oil play in the Granite Wash area. This formation is called the Whittenburg Basin Play and is located in the Texas Panhandle.

Apache Corporation (NYSE, Nasdaq: APA) today reported encouraging results in its exploratory drilling program in the emerging Whittenburg Basin play in the Texas Panhandle. Five of six initial vertical tests were completed as oil producers in the Canyon Wash interval.

Apache has leased or purchased approximately 96,000 net acres in the Bivins Ranch area, a 200-square-mile block in Hartley, Oldham, Potter and Moore counties, and operates all leases, most with 73.5-percent working interests. The block is immediately south of the prolific Panhandle Dolomite field and north of two 25-well Canyon Wash fields.

The Bivins Ranch acreage play is part of Apache's stepped-up program to explore in underdeveloped areas — beyond existing operations — that can benefit from Apache's technical expertise and financial capacity. Prior to Apache's recent activity, just 21 wells were drilled on the block, which is located about 100 miles west of Apache's Anadarko Basin properties.

"We are very encouraged that our early results support our geological model. We plan to expand our exploratory program using newly acquired 3-D seismic," said Robert Johnston, Apache's Central Region vice president. "Advances in horizontal drilling and multi-stage fracture stimulations have greatly improved the economics of drilling in oil and liquids-rich formations across western Oklahoma and the Texas Panhandle; the wells we have drilled thus far in the Bivins Ranch area have all the ingredients to suggest that these techniques may generate even greater productivity.

"We are eager to continue to test the acreage, and we plan to commence horizontal development drilling in mid-2012," Johnston said.

Apache's new producing wells in the Bivins Ranch area include:

• The Bivins-LIT 3-2 averaged 1,001 barrels of oil and 839 thousand cubic feet (Mcf) per day from 80 feet of pay during the first 30 days of production.
• The Bivins-LIT 28-2 averaged 315 barrels of oil and 123 Mcf from 140 feet of pay for the first 30 days of production.
• The Bivins-LIT 115-1 averaged 175 barrels of oil and 97 Mcf from 231 feet of net pay for the first 30 days of production.
• The recently completed Bivins-LIT 4-3 has been on production less than a week; it is currently producing 137 barrels of oil and 105 Mcf of gas from 150 feet of pay.
• The Bivins-West 219-2 has averaged 107 barrels of oil and 42 Mcf per day from 50 feet of pay during the first 21 days of production.

Apache's initial drilling locations were developed using a 64-square-mile 3-D seismic survey. Apache recently completed a 244-square-mile 3-D survey over the remainder of the acreage with final processing expected in the first quarter. Ten additional wells are scheduled during 2012.

http://blackberrystocks.blogspot.com/

http://investor.apachecorp.com/releasedetail.cfm?ReleaseID=649195

Moore County, Texas - Oil and Natural Gas Field

By Tim - http://oilshalegas.com

Apache (APA) recently came out and discussed a new emerging oil play in the Granite Wash area. This formation is called the Whittenburg Basin Play and is located in the Texas Panhandle.

Apache Corporation (NYSE, Nasdaq: APA) today reported encouraging results in its exploratory drilling program in the emerging Whittenburg Basin play in the Texas Panhandle. Five of six initial vertical tests were completed as oil producers in the Canyon Wash interval.

Apache has leased or purchased approximately 96,000 net acres in the Bivins Ranch area, a 200-square-mile block in Hartley, Oldham, Potter and Moore counties, and operates all leases, most with 73.5-percent working interests. The block is immediately south of the prolific Panhandle Dolomite field and north of two 25-well Canyon Wash fields.

The Bivins Ranch acreage play is part of Apache's stepped-up program to explore in underdeveloped areas — beyond existing operations — that can benefit from Apache's technical expertise and financial capacity. Prior to Apache's recent activity, just 21 wells were drilled on the block, which is located about 100 miles west of Apache's Anadarko Basin properties.

"We are very encouraged that our early results support our geological model. We plan to expand our exploratory program using newly acquired 3-D seismic," said Robert Johnston, Apache's Central Region vice president. "Advances in horizontal drilling and multi-stage fracture stimulations have greatly improved the economics of drilling in oil and liquids-rich formations across western Oklahoma and the Texas Panhandle; the wells we have drilled thus far in the Bivins Ranch area have all the ingredients to suggest that these techniques may generate even greater productivity.

"We are eager to continue to test the acreage, and we plan to commence horizontal development drilling in mid-2012," Johnston said.

Apache's new producing wells in the Bivins Ranch area include:

• The Bivins-LIT 3-2 averaged 1,001 barrels of oil and 839 thousand cubic feet (Mcf) per day from 80 feet of pay during the first 30 days of production.
• The Bivins-LIT 28-2 averaged 315 barrels of oil and 123 Mcf from 140 feet of pay for the first 30 days of production.
• The Bivins-LIT 115-1 averaged 175 barrels of oil and 97 Mcf from 231 feet of net pay for the first 30 days of production.
• The recently completed Bivins-LIT 4-3 has been on production less than a week; it is currently producing 137 barrels of oil and 105 Mcf of gas from 150 feet of pay.
• The Bivins-West 219-2 has averaged 107 barrels of oil and 42 Mcf per day from 50 feet of pay during the first 21 days of production.

Apache's initial drilling locations were developed using a 64-square-mile 3-D seismic survey. Apache recently completed a 244-square-mile 3-D survey over the remainder of the acreage with final processing expected in the first quarter. Ten additional wells are scheduled during 2012.

http://blackberrystocks.blogspot.com/

http://investor.apachecorp.com/releasedetail.cfm?ReleaseID=649195

Potter County, Texas - Oil and Natural Gas Field

By Tim - http://oilshalegas.com

Apache (APA) recently came out and discussed a new emerging oil play in the Granite Wash area. This formation is called the Whittenburg Basin Play and is located in the Texas Panhandle.

Apache Corporation (NYSE, Nasdaq: APA) today reported encouraging results in its exploratory drilling program in the emerging Whittenburg Basin play in the Texas Panhandle. Five of six initial vertical tests were completed as oil producers in the Canyon Wash interval.

Apache has leased or purchased approximately 96,000 net acres in the Bivins Ranch area, a 200-square-mile block in Hartley, Oldham, Potter and Moore counties, and operates all leases, most with 73.5-percent working interests. The block is immediately south of the prolific Panhandle Dolomite field and north of two 25-well Canyon Wash fields.

The Bivins Ranch acreage play is part of Apache's stepped-up program to explore in underdeveloped areas — beyond existing operations — that can benefit from Apache's technical expertise and financial capacity. Prior to Apache's recent activity, just 21 wells were drilled on the block, which is located about 100 miles west of Apache's Anadarko Basin properties.

"We are very encouraged that our early results support our geological model. We plan to expand our exploratory program using newly acquired 3-D seismic," said Robert Johnston, Apache's Central Region vice president. "Advances in horizontal drilling and multi-stage fracture stimulations have greatly improved the economics of drilling in oil and liquids-rich formations across western Oklahoma and the Texas Panhandle; the wells we have drilled thus far in the Bivins Ranch area have all the ingredients to suggest that these techniques may generate even greater productivity.

"We are eager to continue to test the acreage, and we plan to commence horizontal development drilling in mid-2012," Johnston said.

Apache's new producing wells in the Bivins Ranch area include:

• The Bivins-LIT 3-2 averaged 1,001 barrels of oil and 839 thousand cubic feet (Mcf) per day from 80 feet of pay during the first 30 days of production.
• The Bivins-LIT 28-2 averaged 315 barrels of oil and 123 Mcf from 140 feet of pay for the first 30 days of production.
• The Bivins-LIT 115-1 averaged 175 barrels of oil and 97 Mcf from 231 feet of net pay for the first 30 days of production.
• The recently completed Bivins-LIT 4-3 has been on production less than a week; it is currently producing 137 barrels of oil and 105 Mcf of gas from 150 feet of pay.
• The Bivins-West 219-2 has averaged 107 barrels of oil and 42 Mcf per day from 50 feet of pay during the first 21 days of production.

Apache's initial drilling locations were developed using a 64-square-mile 3-D seismic survey. Apache recently completed a 244-square-mile 3-D survey over the remainder of the acreage with final processing expected in the first quarter. Ten additional wells are scheduled during 2012.

http://blackberrystocks.blogspot.com/

http://investor.apachecorp.com/releasedetail.cfm?ReleaseID=649195

Oldham County, Texas - Oil and Natural Gas Field

By Tim - http://oilshalegas.com

Apache (APA) recently came out and discussed a new emerging oil play in the Granite Wash area. This formation is called the Whittenburg Basin Play and is located in the Texas Panhandle.

Apache Corporation (NYSE, Nasdaq: APA) today reported encouraging results in its exploratory drilling program in the emerging Whittenburg Basin play in the Texas Panhandle. Five of six initial vertical tests were completed as oil producers in the Canyon Wash interval.

Apache has leased or purchased approximately 96,000 net acres in the Bivins Ranch area, a 200-square-mile block in Hartley, Oldham, Potter and Moore counties, and operates all leases, most with 73.5-percent working interests. The block is immediately south of the prolific Panhandle Dolomite field and north of two 25-well Canyon Wash fields.

The Bivins Ranch acreage play is part of Apache's stepped-up program to explore in underdeveloped areas — beyond existing operations — that can benefit from Apache's technical expertise and financial capacity. Prior to Apache's recent activity, just 21 wells were drilled on the block, which is located about 100 miles west of Apache's Anadarko Basin properties.

"We are very encouraged that our early results support our geological model. We plan to expand our exploratory program using newly acquired 3-D seismic," said Robert Johnston, Apache's Central Region vice president. "Advances in horizontal drilling and multi-stage fracture stimulations have greatly improved the economics of drilling in oil and liquids-rich formations across western Oklahoma and the Texas Panhandle; the wells we have drilled thus far in the Bivins Ranch area have all the ingredients to suggest that these techniques may generate even greater productivity.

"We are eager to continue to test the acreage, and we plan to commence horizontal development drilling in mid-2012," Johnston said.

Apache's new producing wells in the Bivins Ranch area include:

• The Bivins-LIT 3-2 averaged 1,001 barrels of oil and 839 thousand cubic feet (Mcf) per day from 80 feet of pay during the first 30 days of production.
• The Bivins-LIT 28-2 averaged 315 barrels of oil and 123 Mcf from 140 feet of pay for the first 30 days of production.
• The Bivins-LIT 115-1 averaged 175 barrels of oil and 97 Mcf from 231 feet of net pay for the first 30 days of production.
• The recently completed Bivins-LIT 4-3 has been on production less than a week; it is currently producing 137 barrels of oil and 105 Mcf of gas from 150 feet of pay.
• The Bivins-West 219-2 has averaged 107 barrels of oil and 42 Mcf per day from 50 feet of pay during the first 21 days of production.

Apache's initial drilling locations were developed using a 64-square-mile 3-D seismic survey. Apache recently completed a 244-square-mile 3-D survey over the remainder of the acreage with final processing expected in the first quarter. Ten additional wells are scheduled during 2012.

http://blackberrystocks.blogspot.com/

http://investor.apachecorp.com/releasedetail.cfm?ReleaseID=649195

Harley County, Texas - Oil and Natural Gas Field

By Tim - http://oilshalegas.com

Apache (APA) recently came out and discussed a new emerging oil play in the Granite Wash area. This formation is called the Whittenburg Basin Play and is located in the Texas Panhandle.

Apache Corporation (NYSE, Nasdaq: APA) today reported encouraging results in its exploratory drilling program in the emerging Whittenburg Basin play in the Texas Panhandle. Five of six initial vertical tests were completed as oil producers in the Canyon Wash interval.

Apache has leased or purchased approximately 96,000 net acres in the Bivins Ranch area, a 200-square-mile block in Hartley, Oldham, Potter and Moore counties, and operates all leases, most with 73.5-percent working interests. The block is immediately south of the prolific Panhandle Dolomite field and north of two 25-well Canyon Wash fields.

The Bivins Ranch acreage play is part of Apache's stepped-up program to explore in underdeveloped areas — beyond existing operations — that can benefit from Apache's technical expertise and financial capacity. Prior to Apache's recent activity, just 21 wells were drilled on the block, which is located about 100 miles west of Apache's Anadarko Basin properties.

"We are very encouraged that our early results support our geological model. We plan to expand our exploratory program using newly acquired 3-D seismic," said Robert Johnston, Apache's Central Region vice president. "Advances in horizontal drilling and multi-stage fracture stimulations have greatly improved the economics of drilling in oil and liquids-rich formations across western Oklahoma and the Texas Panhandle; the wells we have drilled thus far in the Bivins Ranch area have all the ingredients to suggest that these techniques may generate even greater productivity.

"We are eager to continue to test the acreage, and we plan to commence horizontal development drilling in mid-2012," Johnston said.

Apache's new producing wells in the Bivins Ranch area include:

• The Bivins-LIT 3-2 averaged 1,001 barrels of oil and 839 thousand cubic feet (Mcf) per day from 80 feet of pay during the first 30 days of production.
• The Bivins-LIT 28-2 averaged 315 barrels of oil and 123 Mcf from 140 feet of pay for the first 30 days of production.
• The Bivins-LIT 115-1 averaged 175 barrels of oil and 97 Mcf from 231 feet of net pay for the first 30 days of production.
• The recently completed Bivins-LIT 4-3 has been on production less than a week; it is currently producing 137 barrels of oil and 105 Mcf of gas from 150 feet of pay.
• The Bivins-West 219-2 has averaged 107 barrels of oil and 42 Mcf per day from 50 feet of pay during the first 21 days of production.

Apache's initial drilling locations were developed using a 64-square-mile 3-D seismic survey. Apache recently completed a 244-square-mile 3-D survey over the remainder of the acreage with final processing expected in the first quarter. Ten additional wells are scheduled during 2012.

http://blackberrystocks.blogspot.com/

http://investor.apachecorp.com/releasedetail.cfm?ReleaseID=649195

Whittenburg Basin Play - Granite Wash - Texas

By Tim - http://oilshalegas.com

Apache (APA) recently came out and discussed a new emerging oil play in the Granite Wash area. This formation is called the Whittenburg Basin Play and is located in the Texas Panhandle.

Apache Corporation (NYSE, Nasdaq: APA) today reported encouraging results in its exploratory drilling program in the emerging Whittenburg Basin play in the Texas Panhandle. Five of six initial vertical tests were completed as oil producers in the Canyon Wash interval.

Apache has leased or purchased approximately 96,000 net acres in the Bivins Ranch area, a 200-square-mile block in Hartley, Oldham, Potter and Moore counties, and operates all leases, most with 73.5-percent working interests. The block is immediately south of the prolific Panhandle Dolomite field and north of two 25-well Canyon Wash fields.

The Bivins Ranch acreage play is part of Apache's stepped-up program to explore in underdeveloped areas — beyond existing operations — that can benefit from Apache's technical expertise and financial capacity. Prior to Apache's recent activity, just 21 wells were drilled on the block, which is located about 100 miles west of Apache's Anadarko Basin properties.

"We are very encouraged that our early results support our geological model. We plan to expand our exploratory program using newly acquired 3-D seismic," said Robert Johnston, Apache's Central Region vice president. "Advances in horizontal drilling and multi-stage fracture stimulations have greatly improved the economics of drilling in oil and liquids-rich formations across western Oklahoma and the Texas Panhandle; the wells we have drilled thus far in the Bivins Ranch area have all the ingredients to suggest that these techniques may generate even greater productivity.

"We are eager to continue to test the acreage, and we plan to commence horizontal development drilling in mid-2012," Johnston said.

Apache's new producing wells in the Bivins Ranch area include:

• The Bivins-LIT 3-2 averaged 1,001 barrels of oil and 839 thousand cubic feet (Mcf) per day from 80 feet of pay during the first 30 days of production.
• The Bivins-LIT 28-2 averaged 315 barrels of oil and 123 Mcf from 140 feet of pay for the first 30 days of production.
• The Bivins-LIT 115-1 averaged 175 barrels of oil and 97 Mcf from 231 feet of net pay for the first 30 days of production.
• The recently completed Bivins-LIT 4-3 has been on production less than a week; it is currently producing 137 barrels of oil and 105 Mcf of gas from 150 feet of pay.
• The Bivins-West 219-2 has averaged 107 barrels of oil and 42 Mcf per day from 50 feet of pay during the first 21 days of production.

Apache's initial drilling locations were developed using a 64-square-mile 3-D seismic survey. Apache recently completed a 244-square-mile 3-D survey over the remainder of the acreage with final processing expected in the first quarter. Ten additional wells are scheduled during 2012.

http://blackberrystocks.blogspot.com/

http://investor.apachecorp.com/releasedetail.cfm?ReleaseID=649195

Mississippian Oil Play - Devon Energy (DVN)

By Tim - http://oilshalegas.com

Devon Energy (DVN) provides an update on the Mississippi Oil Play located in Oklahoma.

In the Mississippian oil play located North Central Oklahoma, the partnership has now secured approximately 230,000 net acres. We drilled our first vertical well in the second quarter of last year to gather data and have since drilled our first horizontal Mississippian producer, yielding very encouraging results. The Matthews 1H was brought online in the fourth quarter and achieved a 24-hour sustained IP rate of 960 barrels of oil equivalent per day, of which greater than 80% was oil. Through the first 30 days of production, the well averaged 590 barrels of oil equivalent a day. These results are among the best reported in the play to date. And with an API gravity of around 40 and low sulfur content, this appears to be some of the best-quality crude oil in the lower 48. We are obviously very encouraged with these results and plan to drill or participate in approximately 15 Mississippian wells by year end.

http://blackberrystocks.blogspot.com/

Cardium Shale - Alberta Canada Oil Field - Devon Energy (DVN)

By Tim - http://oilshalegas.com

Devon Energy has also confirmed positive results in the Cardium Shale oil field. Located west of Alberta Canada, the Cardium Shale is a new emerging oil field.

On the exploration front in Canada, we continue to evaluate the oil and liquids-rich potential of numerous play types across our more than 4 million net acres. Our most encouraging results from our 2011 program came in at the Ferrier Area where we are targeting cardium oil. We drilled 8 wells in the area and saw 30-day IP rates as high as 940 barrels of oil equivalent per day.

This could be a sign of things to come. One thing is for sure, Forest Oil (FST), Exxon Mobil (XOM), and ConocoPhillips (COP) are drilling for oil in the Cardium as well.

http://www.oilshalegas.com/cardiumshale.html

http://blackberrystocks.blogspot.com/

Cardium Shale is Heating Up in 2012

By Tim - http://oilshalegas.com

Oil and Gas companies are starting to release their earnings and operational reports. In going through these reports, something stuck out to me so far. The Cardium Shale is heating up!

The Cardium Shale is an oil field located in Western Alberta Canada. Exxon Mobil (XOM) recently stated that they had very encouraging results so far in the Cardium Formation. Here is what they said below.

"In Canada, we have had encouraging early results in the Cardium, with 2 wells on production at year end and additional drilling planned in 2012."

This could be a sign of things to come. One thing is for sure, Forest Oil (FST), Devon Energy (DVN), and ConocoPhillips (COP) are drilling for oil in the Cardium as well.

http://www.oilshalegas.com/cardiumshale.html

http://blackberrystocks.blogspot.com/

Vaca Muerta Shale - Argentina Oil Shale Discovery

By Tim - http://oilshalegas.com

November 9, 2011 - There was a huge oil discovery this week in Argentina in the Vaca Muerta Shale. The Vaca Muerta Shale is said to have some of the same characteristics as the Eagle Ford Shale in Texas. EOG Resources (EOG) recently provided an update on this formation play.

"Before I close out the oil play discussion, I'll mentioned timing regarding our Argentina Vaca Muerta shale play, where we have approximately 100,000 net acres. We'll start our first well in the first quarter 2012, though we should have some results by late 2012." "We've got a well planned in the first part of next year. And the section we're targeting there, we've got data that shows that it's relatively thick, about 900 feet thick, and it's got about 150 million barrels per section of oil in place. So it's certainly a world-class potential rock.

Earlier this week, Repsol YPF SA said they plan to produce 50,000 barrels of oil from the Vaca Muerta Shale starting in 2014-2015. YPF announced Monday the potential of 927 million barrels of unconventional oil in Argentina's Neuquen Province, where the Vaca Muerta shale is located.

Shale News

OilShaleGas.com

Rex Energy (REXX) - Utica Shale

By Tim - http://oilshalegas.com

November 8, 2011 - Rex Energy (REXX) recently gave some comments about It's Utica Shale Oil Field located in Ohio, specifically, Carroll County. It appears the Carroll County area in Ohio is the "sweet spot" of the Utica Oil Shale window.

"On Slide 14, we have our Utica Shale overview. To date, we have a total of approximately 85,300 gross, 58,700 net acres perspective in this area for the Utica Shale. Chesapeake Energy has recently disclosed well results for 4 wells in their Utica Shale program, 3 of which are in close proximity to our Carroll County, Ohio acreage position. Locations and production rates for these wells are shown on the graph. As more production rates are disclosed, we feel confident that our Butler County acreage will be in the dry gas window and that all of our acreage in Carroll County, Ohio will be at ground 0 for the liquids rich condensate window."

http://www.rexenergy.com/

Shale News

OilShaleGas.com

Chesapeake Energy (CHK) -Tuscaloosa Marine Shale

By Tim - http://oilshalegas.com

November 8, 2011 - Chesapeake Energy (CHK) said in their last conference call that they will not be chasing land acreage in the Tuscaloosa Marine Shale. Chesapeake Energy (CHK) said that based on what they are seeing, mineral rights are to expensive in the Tuscaloosa Marine Shale. They also stated that they will not be chasing anything in California such as the Elm County Field or the Monterey Shale.

The Tuscaloosa Marine Shale has been hitting the news lately on some nice oil wells being drilled. The Tuscaloosa Marine Shale is located in south Louisiana and Mississippi.

Shale News

OilShaleGas.com

Utica Shale - Anadarko Petroleum (APC) - Ohio

By Tim - http://oilshalegas.com

November 7, 2011 - The Utica Shale continues to heat up! Anadarko Petroleum (APC) recently announced in their earnings report that they've added 300,000 acres of mineral rights in the Utica Shale (Ohio). Anadarko Petroleum (APC) is after the oil in this shale play.

"Additionally, in the U.S. onshore, we've been assembling a position in Ohio's Utica Shale, and over time, we have acquired interests in approximately 300,000 gross acres in the prospective liquids-rich window at attractive entry costs. We've recently spud our first well in the play and look forward to an active drilling program in this emerging area."

Shale News

OilShaleGas.com

Kern County, CA - Occidental Petroleum OXY

By Tim - http://oilshalegas.com

Occidental Petroleum Corporation (OXY) reported earnings yesterday and updated investors on their Kern County, California oil field discovery.

Turning now to California. During the first nine months of the year, we drilled seven conventional exploration extension wells in California. Of these, five were outside the Kern County discovery area; two of these wells are currently being tested. We also drilled 12 unconventional exploration wells in the first nine months of this year, of which three are successful and five are being tested.

In the fourth quarter, we expect to drill ten exploration wells of which two will be conventional, the remaining eight wells unconventional. In the fourth quarter, our exploration program will target smaller prospects until permits are obtained to the larger ones.

We’ve also drilled 13 conventional exploitation wells in the Kern County discovery area and 15 unconventional exploitation wells California in the first nine months. Due to delays in permitting we’ve reduced our exploitation plans in the second half of the year by about 10 wells.

http://seekingalpha.com/article/230950-occidental-petroleum-management-discussion-q3-2010-results-earnings-call-transcript?find=kern

For more updates, visit http://blackberrystocks.blogspot.com

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