Antrim Shale - Michigan Shale Natural Gas Field

By Andrea: http://oilshalegas.com


Antrim Shale located in northern Michigan, has been heating up lately. Below is the latest news related to Antrim Shale:

-During the second quarter, Linn Energy, LLC (LINE) entered a new operating area by closing a previously announced acquisition of natural gas properties located in the Antrim Shale of northern Michigan. The acquisition also provides the Company with rights to more than 26,000 net acres in northern Michigan that are prospective in the emerging Utica/Collingwood Shale play, which the Company believes will add future growth potential. Industry development of this shale formation is in the early stages, and LINN is currently evaluating options for its acreage within this area.

Read the full article here: http://www.marketwatch.com/story/linn-energy-announces-second-quarter-2010-results-2010-07-29?reflink=MW_news_stmp




- July 27, 2010: One of the last wells drilled into Michigan’s Antrim Shale was completed early last week in Benzie County. A new and deeper natural gas play appears to be unfolding as developers pay record amounts for oil and gas leases and a lone Missaukee well turned out to be a prodigious gas produce. This would be the Collingwood Shale.

Read full story here: http://www.circleofblue.org/waternews/2010/world/michigans-new-natural-gas-rush-energy-and-water-in-play/

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

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Alberta Canada Oil Sands - Peace River Oil Sands Area

By Andrea: http://oilshalegas.com

Today we are profiling Tamm Oil & Gas Corp (TAMM.OB):

TAMM has acquired a 100% working interest in 55 contiguous sections of mineral rights or 35,200 acres, at Manning, Alberta in the Peace River Oil Sands Area. These mineral rights are considered to be prospective for heavy oil in the Mississippian Debolt, Elkton and other formations.

-"Internal company estimates of potentially 3 billion original barrels of heavy oil in place on the properties within the various zones with the majority in two specific zones".

-Current plan for 2009/2010 winter season would be a 3-5 well drilling and coring program with an additional 20 to 30 km seismic program to supplement the drilling and core data and thus continue to evaluate the potential resource.

-Work is currently ongoing to further study geology and acquire "trade data" seismic and map the adjoining lands for other potential acquisitions and to optimize the drilling/coring program.

-Subsequent plans might be building of sufficient year-round access and infrastructure to support increased development, ongoing drilling and seismic to more fully define the reserve, a test pilot of a one or two well production program -- to test for optimum methods of recovery -- CCS -- either vertical or horizontal or both, SAGD type enhanced recovery, Cold Flow, TIDE or other models.

-Current typical costs for these types of production methods, at the commercial pilot stage are around $40/bbl -- thus a good return for initial production aiming at 18% primary recovery and cyclic steam at 30% recovery. As production in this area is still in the early stages, the anticipated recovery rates may increase with experience in working with these potential reservoirs.

-Based on the results of the initial testing -- secondary testing might include a full scale pilot of between 5000 to 8000 bbls/d. This could potentially begin in 2011/2012.

Further information on Tamm Oil & Gas Corp (TAMM.OB), visit: http://www.tammoilandgas.com/s/AreaOfExploration.asp

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

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Permian Basin Oil Field, Texas

By Andrea http://oilshalegas.com/

The Permian Basin is a sedimentary basin located in the western part of Texas and in the southeastern part of New Mexico. It reaches from just south of Lubbock, Texas, to just south of Midland and Odessa, extending westward into the southeastern part of New Mexico. The Permian Basin region includes the following counties:

- Andrews County, Andrews, TX

- Borden County, Gail, TX

- Crane County, Crane, TX

- Dawson County, Lamesa, TX

- Ector County, Odessa, TX

- Gaines County, Seminole, TX

- Glasscock County, Garden City, TX

- Howard County, Big Spring, TX

- Loving County, Mentone, TX

- Martin County, Stanton, TX

- Midland County, Midland, TX

- Pecos County, Fort Stockton, TX

- Reeves County, Pecos, TX

- Terrell County, Sanderson, TX

- Upton County, Rankin, TX

- Ward County, Monahans, TX

- Wrinkler County, Kermit, TX

The Permian Basin is a large oil and natural gas producing area which is part of the Mid-Continent Oil Producing Area. Up to the beginning of 1993, total production for that region was over 14.9 billion barrels. The towns of Midland and Odessa serve as the headquarters for oil production activities in the basin.

Currently, Pioneer Natural Resources Co. (PXD) is the largest operator in the Permian Basin with approximately 20,000 locations and roughly 900,000 acres under lease in the Permian Basin. Pioneer Natural Resources Co. (PXD) also predicts that they will eventually be one of the largest operators in South Texas with their Eagle Ford Fleet.

Permian Basin News, 2010:

- Occidental Exec:Negotiated $1.5B Acquisitions Mainly In Permian Basin
- Concho Resources Inc. to Acquire Oil & Gas Assets in the Permian Basin for $1.65 Billion
- Apache to Acquire BP Assets in Permian Basin, Canada and Egypt For $7 Billion

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

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Atascosa County, TX: Eagle Ford Shale

By Andrea - http://oilshalegas.com


Cabot Oil & Gas Corporation (COG) and EOG Resources, Inc. (EOG) announced that they will enter into a 50/50 joint venture in Atascosa County, Texas to develop Eagle Ford Shale:

Cabot has entered a 50/50 joint venture agreement with EOG Resources, Inc. to develop approximately 18,000 acres in the mature oil window of the Eagle Ford shale in Atascosa County. Under the terms of the agreement, each party contributed the same amount of acreage and EOG will operate. Dinges added, "We are excited about the location of this acreage and for the opportunity to participate with one of the most experienced, active operators in the trend."

As it relates to this trend outside of this joint venture, Cabot's second operated Eagle Ford well has been drilled and cased with completion operations set to begin in late August-early September. A third operated Eagle Ford effort will spud by month-end.

Full article below:

http://phx.corporate-ir.net/phoenix.zhtml?c=116492&p=irol-newsArticle&ID=1450757&highlight

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

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EOG Resources, Inc. (EOG) Marcellus Shale Joint Venture?

By Andrea - http://oilshalegas.com


Based on their 2010 Earnings call, EOG Resources, Inc. (EOG) is strongly considering a JV opportunity in the Marcellus Shale. While the venture is not yet a definite, CEO Marc Papa claims to have an answer by the end of the year:

"The one that's on a bit faster track is the Marcellus, and we will be looking at an organized approach to screen interested parties to look and see if we can bring someone in there. And so I would say, the Marcellus, by year end, we should have an answer as to: Are we going to do one? And if so, what are the terms?"


EOG Resources, Inc. (EOG) currently has about 230,000 net acres primarily in Pennsylvania in the Marcellus Shale, and primarily in North Western Pennsylvania in the Marcellus Shale.


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


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Bradford County, PA - Marcellus Shale

By Andrea - http://oilshalegas.com

Recently, Chesapeake Energy Corporation (CHK) gave an update on the Marcellus Shale in Bradford County, PA.

Below is a list of drilling activities in Bradford County, PA

Marcellus Shale (West Virginia, Pennsylvania and New York):With approximately 1.5 million net acres, Chesapeake is the largest leasehold owner in the Marcellus Shale play that spans from northern West Virginia across much of Pennsylvania into southern New York. On its Marcellus leasehold, Chesapeake estimates it has approximately 26 tcfe of risked unproved resources and 66 tcfe of unrisked unproved resources.

During the 2010 first quarter, Chesapeake's average daily net production of 65 mmcfe in the Marcellus increased approximately 40% over the 2009 fourth quarter and approximately 815% over the 2009 first quarter. Chesapeake is currently producing approximately 100 mmcfe net per day from the Marcellus. Chesapeake is currently drilling with 24 operated rigs in the Marcellus and anticipates operating an average of approximately 31 rigs in 2010 to drill approximately 170 net wells. During the 2010 first quarter, approximately $90 million of Chesapeake's drilling costs in the Marcellus were paid for by its joint venture partner Statoil (NYSE:STO, OSE:STL). From April 2010 through 2012, 75% of Chesapeake's drilling costs in the Marcellus, or approximately $1.9 billion, will be paid for by STO.

Three notable recent wells completed by Chesapeake in the Marcellus are as follows:

- The James Barrett 2H in Bradford County, PA achieved a peak 24-hour rate of 12.7 million cubic feet of natural gas (mmcf) per day;

- The James Barrett 1H in Bradford County, PA achieved a peak 24-hour rate of 11.8 mmcf per day;

- The Strom 1H in Bradford County, PA achieved a peak 24-hour rate of 8.2 mmcf per day.

For more shale news, visit http://blackberrystocks.blogspot.com

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Eagle Ford Shale - South Texas Companies

The Eagle Ford Shale, which is located in South Texas, is really gaining momentum and could be one of the biggest oil finds in 40 years. These words were quoted recently by Mark Papa, CEO of EOG Resources, Inc. (EOG). The Eagle Ford Shale has both Oil and Natural Gas zones and is expanding every month as new wells are drilled.

If you are looking to invest in the Eagle Ford Shale, below are some companies drilling there.

EOG Resources, Inc. (EOG)
ConocoPhillips (COP)
Apache Corp. (APA)
Exxon Mobil Corp. (XOM)
Murphy Oil Corporation (MUR)
Chesapeake Energy Corporation (CHK)
Cabot Oil & Gas Corporation (COG)
Pioneer Natural Resources Co. (PXD)
Petrohawk Energy Corporation (HK)
Anadarko Petroleum Corporation (APC)
Forest Oil Corp. (FST)
St. Mary Land & Exploration Company (SM)
Rosetta Resources, Inc. (ROSE)
Swift Energy Co. (SFY)
EV Energy Partners LP (EVEP)
Plains Exploration & Production Company (PXP)
Schlumberger Limited (SLB)
Crimson Exploration Inc. (CXPO)
Newfield Exploration Co. (NFX)
GeoResources, Inc. (GEOI)
Goodrich Petroleum Corp. (GDP)
Talisman Energy Inc. (TLM)