Guizhou, Shanxi, Anhui and Zhejiang China Shale Gas

By Tim - http://oilshalegas.com

China is set to auction off six shale gas blocks in November 2010. China wants to exploit shale gas in an effort to scale back it's coal use which pollutes the country. The country currently has a small production of oil shale and natural gas shale.

While in the early stages of shale production, China is said to be sitting on as much as 25 trillion cubic feet (TCF's) of natural gas from shale

China will auction blocks off in Guizhou, Shanxi, Anhui and Zhejiang provinces.

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China Eyeing Chesapeake Energy CHK Shale Assets

These Shale Plays are hot, hot, hot, especially the Haynesville Shale!

Reuters is reporting the China National Petroleum Corporation CNPC is eyeing some of Chesapeakes Shale assets. As you know, CHK has gone from $75 to all the way down $45 in three weeks and is currently trading at $49. They could be sitting on as much as 16 Billion in Haynesville Shale assets which is only a fraction of their Natural Gas portfolio and acreage position.

Chesapeake is looking to raise as much as $5 billion this year from selling minority stakes in its Arkansas and Pennsylvania shale gas properties, the South China Morning Post reported on Monday, citing unnamed market sources.
Energy companies are spending heavily to lock up acreage in hot shale plays, where oil and natural gas are trapped in layers of rock. Record energy prices and technology such as horizontal drilling have made retrieving hydrocarbons from shale profitable.


http://www.reuters.com/article/marketsNews/idINHKG8501520080728?rpc=44