McClendon says no more major shale discoveries in the US

Aubrey McClendon, chairman, CEO, and founder of Chesapeake Energy, one of the first oil and gas producers to develop shale gas properties in the United States, says the “discovery bonanza” in the US is over and that investors shouldn’t expect major new shale discoveries.

Chinese buy third of Chesapeake South Texas field

OKLAHOMA CITY (AP) -- China's state-owned offshore oil and gas company has bought a one-third interest in 600,000 acres that Chesapeake Energy leases in a South Texas oil and gas field.

CNOOK (SEE'-nook) Ltd. and Oklahoma City-based Chesapeake announced the deal worth up to $2.16 billion Sunday in the Eagle Ford Shale project between Laredo and San Antonio. A joint statement says CNOOC will pay Chesapeake $1.08 billion in cash at closing and share 75 percent of Chesapeake's drilling and completion costs up to another $1.08 billion.

Talisman, Statoil to Buy, Operate Texas Oil Shale

Talisman Energy Inc., the Canadian oil and natural gas explorer, and Statoil ASA, Norway’s largest oil and gas company, said they agreed to pay $1.33 billion for oil shale properties in the Eagle Ford formation in South Texas and form a joint venture to develop the fields.

Cabot Oil Reports New Financing, Strong Output From New Wells

Cabot Oil & Gas Corp. (COG) began production from a second well in the Eagle Ford shale in Texas while two other wells in the Marcellus Shale in Pennsylvania continue to see improved outp

Texas woman sues Chesapeake, seeking royalties

The suit said Chesapeake Operating Inc. should base royalties on the full market value of natural gas. But it said that instead, it bases them on a "fictitious" price that it gets from Chesapeake Energy - a price far below the one Chesapeake Energy gets from real customers.

Is Asia Ready for a Shale Gas Revolution?

The oil and gas industry has its own version of The Amazing Race, and it involves scouring the globe for analogues to North America's great oil and gas shale plays, like the Bakken and the Barnett. All sorts of Asian energy players have struck joint ventures with independents like Chesapeake Energy and Encana, in part to gain knowledge that can be applied in their own backyard. It's very early days yet, but let's see what sort of activity is happening over in that part of the world.

Enerplus acquires acreage in Bakken, Marcellus shale plays

Enerplus Resources Fund, Calgary, said it bought several Bakken and Marcellus assets and sold its Kirby oil sands lease.

ExxonMobile's Purchse of XTO is a "Game-Changing" moment

The thought of a corporate behemoth settling in Arkansas with the size, breadth and market-moving influence of Wal-Mart would undoubtedly be big news.

Yet unbeknownst to most, oil giant ExxonMobil has quietly acquired huge stakes in Arkansas's Arkoma and Fayetteville Shale plays when it purchased Fort Worth-based XTO Energy in late June in an all-stock deal worth $30 billion.

And many Wall Street analysts and energy experts say the XTO deal is a "game-changing" moment in the nation's energy outlook, signaling a shift in the never-ending hunt for new energy sources.

Shale Developments Boon to Pipeline Companies

he Oil & Gas Pipeline Industry remains one of the strongest competitors in the energy sector, as the number of major pipeline construction projects, upgrades and expansions continues to increase. The growing number of projects is primarily due to the intense development and drilling activities in the shale play producing areas, which have accounted for up to 33% of major construction activities and expansion projects.

Inflection Energy Offers up to $2,750 an Acre with 20% Royalty Payments in Broome County, NY

BINGHAMTON -- Broome County officials are set to announce today a new $7.8 million offer for the mineral rights to about 3,200 acres of county-owned land for natural gas extraction.

The offer is from Denver-based Inflection Energy LLC, the same company that made a July offer to the county that was ultimately rebuffed.

India's Reliance Industries to Partner With Chesapeake Energy

Reliance Industries Ltd (RIL) is in advanced talks to buy a stake in Chesapeake Energy Corp.’s Eagle Ford shale gas field in Texas, two people familiar with the development said.

Obscure Regulator Hits Brakes on Northeast Shale Drilling Rush

Delaware River Basin Commission (DRBC) has imposed a moratorium on Marcellus drilling in Pennsylvania's Wayne and Pike counties.

Utica Shale Gains Ground

The Utica Shale saw some development by the oil and gas industry during the second quarter of 2010, as many exploration and production companies attempt to gain first mover status in various shale plays in North America.

Effect of Pugh Clauses on Drilling Activity

"Consider these comments from Aubrey McClendon, CEO of Chesapeake Energy (NYSE: CHK) at Bentek Energy LLC’s Benposium earlier this summer: 'If I had my druthers we’d be running no more than a couple [rigs]…You’d be surprised how much drilling is not voluntary today.' "

Sumitomo to Pay Rex Energy $140 Million for U.S. Shale Gas Venture Stake

Sumitomo Corp., Japan’s third- largest trading company, agreed to pay Rex Energy Corp. about $140 million for a 30 percent stake in a gas venture in the Marcellus Shale region in the U.S.

“Marcellus Maginot Line”

Shale Formations Feed the Future of Energy

"While natural gas leasing activity in the East Texas and Northwest Louisiana region is not at the fever pitch it was a couple of years ago when the potential of the Haynesville Shale first came to light, energy production remains a big driver of the area's economy - and should be for years to come, officials said"

Severance Tax on Marcellus Shale Play Debated

Pennsylvania Governor Ed Rendell is proposing a 5% severance tax on natural gas drilling companies.

U.S. - India Shale Gas Initiatives to Advance

The Obama administration on Tuesday confirmed that a major bilateral initiative for shale gas exploration in India was set to make important advances over the coming months.

New US Oil Rush Could Rock OPEC

Chief to Begin Drilling Within Dallas City Limits

Majority of Marcellus Well Operators Fail to Meet Production Reporting Deadline

Although most of the large and established companies have complied with the law.

Shale Plays Relationship to Nat Gas Prices

Summary of Unconventional Shale Plays in North America

Dual Zone Potential in Marcellus?

Senator Casey Proposes FRAC Act to Regulate Drilling

Rig Count In US Increases to 1,651

Chief Oil & Gas for Sale

Sale price could top three billion dollars.

$100 Million Eagle Ford Shale Joint Venture Announced

Crimson Exploration, Inc. Announces Successful Drilling Results in San Augustine and Liberty Counties, Texas

Pittsburgh City Councilman Introduces Natural Gas Drilling Ban

Drilling Activity in Unconvential Shale Plays to Slow in 2011

Hess Corp. To Drill First Producing Marcellus Wells in Wayne Co, PA

Penn Virginia Corp Purchases 6,800 net Eagle Ford Shale acres for $31.1 million.

Chesapeake Diverting Capital Allocations from Marcellus to Eagle Ford Shale

Marcellus Play Provides Over 20% Return at $4/million BTU

According to the article: "The Marcellus, the Haynesville and more recently the Eagle Ford, are proving to be low cost sources of shale gas and are thus better able to stand the prices vagaries than the Barnett and the Woodford."

More Shale Sales

EOG Resources announces its intent to sell 180,000 acres of Haynesville, Marcellus and Eagle Ford natural gas shale leases. The company continues to shift its focus from natural gas to oil production.

NY Senate Extends Drilling Moratorium Until May 2011

Cabot Oil and Gas Unloading Marcellus holdings

Chesapeake to Increase Investment in Liquid-Rich Plays, Reduce Expenditures on Natural Gas Plays

Chesapeake Energy Corp announced it will increase drilling and completion capital expenditures in liquid-rich plays by $400 million. Chesapeake's largest liquid-rich plays include: Granite Wash (western Oklahoma and Texas Panhandle), Anadarko Basin (western Oklahoma and Texas Panhandle), Rocky Mountain Liquids Plays (southern Wyoming and northern Colorado), Permian Basin Liquids Plays (West Texas and southern New Mexico), and Eagle Ford Shale (South Texas).

Conversely, Chesapeake will reduce Drilling and Completion Capital Expenditures by $400 million on natural gas plays.

"Let's Make a Deal" on the Agenda for Range Resources?

Forbes.com blogger Christopher Helman suggests it's possible for entire company to be purchased by a bigger player with deeper pockets to aggressively develop Range Resources Marcellus Shale holdings.

Exxon to Increase Activity in Shale Energy Communities

Private Citizens to Hold Auction of Mineral Rights in Wyoming

Private mineral owners in Wyoming will auction their rights to ensure they receive fair market value rather than negotiate directly with gas companies.

Oneok to Invest $730,000,000 in America's Heartland

$1,700,000,000 Paid to PA Landowners by Marcellus Producers in '09

This amount will increase dramatically as drilling increases and royalties flow into Marcellus Shale energy communities. @myshale.com