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  1. Argentina seeking increased natural gas production from shale resources to reduce imports

    Source: U.S. Energy Information Administration, based on Cedigaz   Despite its estimated 802 trillion cubic feet (Tcf) of unproved, technically recoverable shale gas resources, Argentina’s dry natural gas production declined each year from 2006 to 2014, and the country has shifted from a net exporter of natural gas to a net importer. In 2015, natural gas production increased for the first time since 2006, as ongoing efforts to increase production from key shale gas areas in Argentina aimed to reduce its imports of natural gas. Once one of the largest natural gas exporters in South America, Argentina was a net importer of natural gas by 2008. Imports, which accounted for 23% of Argentina’s natural gas consumption in 2015, came by pipeline from countries such as Bolivia and, to a lesser extent, as liquefied natural gas (LNG) from sources such as Trinidad and Tobago. The Argentinian government hopes to stop importing LNG by 2022. Argentina is the third country in the world, after the United States and Canada, to commercially develop tight oil and shale gas. Argentina’s Vaca Muerta formation within the Neuquen Basin has an estimated 308 Tcf of technically recoverable shale gas resources. Vaca Muerta’s geologic properties have been compared to the Eagle Ford play near the Gulf of Mexico in Texas in terms of its depth, thickness, pressure, and mineral composition. Source: U.S. Energy Information Administration and Advanced Resources International, Inc., World Shale Gas and Shale Oil Resource Assessment Note: Click to enlarge .   More than 588 vertical and horizontal shale wells have been drilled and completed in the Vaca Muerta shale play since 2010. According to the Argentine Ministry of Energy and Mines, shale gas production reached 64.6 billion cubic feet (Bcf) at the end of 2015. Argentina's national oil company, Yacimientos Petroleiferos Fiscales (YPF), the most active operator in the Vaca Muerta shale play, has initiated joint venture pilot project agreements with partners such as Chevron , Dow Chemical, and Petronas to further develop the play. Although Vaca Muerta may have similar geologic properties to the Eagle Ford play in the United States, the production history of the Eagle Ford may be difficult to replicate in Argentina. From 2010 to 2013, more than 10,000 wells were drilled in the Eagle Ford, and average inital production per well nearly tripled over that period. However, since 2014, the decline in world oil prices has resulted in lower upstream capital expenditures as operators prioritize their spending. While drilling costs in Argentina have declined, they are still higher than YPF’s target costs. The average drilling and completion cost of a horizontal well in Vaca Muerta was estimated to be $11.2 million as of 2015, compared to $6.5 million to $7.8 million in the Eagle Ford. Ultimately, the economic competitiveness of Argentina's indigenous shale gas resources will depend on the costs of domestic drilling and completion and the productivity of newly drilled wells. Although Argentina has an established energy industry, the current oil and gas sector is relatively small. The highest active rig count in Argentina in recent years was 110 for its nonshale oil and gas production, compared to more than 230 dedicated shale rigs in the Eagle Ford alone in 2013. Argentina has relatively high labor and imported equipment costs, shortages of specialized shale rigs, and limited proppant capacity—factors likely to hinder efforts to quickly increase production. Principal contributors: Jesse Esparza, Faouzi Aloulou, Andrew Estes

    Online Articles

    Online Articles

    Sat, 11 Feb 2017

  2. Oil and Gas: Ohio drillers say 6 shale counties saw $43M tax bump

    Oil-and-gas drillers in Ohio have paid $43 million in property taxes to local governments and schools in six shale counties since 2011, according to a report released Thursday.

    Online Articles

    Online Articles

    Sat, 11 Feb 2017

  3. Oil and Gas: House votes to overturn Obama rule on natural gas 'flaring'

    The Republican-controlled House voted on Friday to overturn an Obama administration rule that sought to reduce harmful methane emissions into the environment, part of the Democratic president's campaign to combat climate change.

    Online Articles

    Online Articles

    Sat, 4 Feb 2017

  4. Utility Company: Utility to pay $8.5 million to settle suit over gas blowout

    The Southern California Gas Co. agreed Wednesday to pay $8.5 million to settle a lawsuit over a well blowout that spewed natural gas for nearly four months and drove thousands of residents from their Los Angeles homes.

    Online Articles

    Online Articles

    Fri, 10 Feb 2017

  1. AVAD Energy Partners sees equity commitment from Pearl Energy Investments, Natural Gas Partners

    Online Articles

    Online Articles

    Thu, 12 Jan 2017

  2. U.S. natural gas production resilient to market changes in 2015, but has fallen in 2016

    The increase in 2015 production levels marked the tenth straight annual increase, with the most recent increase occurring despite natural gas prices at the Louisiana Henry Hub declining more than 40%.

    Online Articles

    Online Articles

    Sat, 17 Dec 2016

  3. Rosneft natural gas production rises 6.9% in first half

    OJSC Rosneft said its natural gas production of 33.23 billion cu m in the first half of 2016 was 6.9% higher than a year ago, but hydrocarbon liquids declined 0.1%.

    Online Articles

    Online Articles

    Fri, 12 Aug 2016

  4. Aramco to nearly double natural gas production in decade

    Saudi Aramco plans to nearly double its natural gas production to 23 standard bcfd in 10 years, Aramco Chief Executive Officer Amin Nasser told an industry conference in Jubail on Mar. 8.

    Online Articles

    Online Articles

    Wed, 9 Mar 2016

  5. TAEP: Texas upstream economy expanded in December for first time in 2 years

    Two consecutive years of economic contraction in the Texas upstream industry ended as 2016 drew to a close, the Texas Alliance of Energy Producers (TAEP) says.

    Online Articles

    Online Articles

    Wed, 25 Jan 2017

  6. EIA: February oil output from major US onshore regions to rise 41,000 b/d

    Crude oil output from the seven major US onshore producing regions is expected to rise 41,000 b/d month-over-month in February to 4.748 million b/d, according to data from the US Energy Information Administration.

    Online Articles

    Online Articles

    Tue, 17 Jan 2017

  7. Natural Gas Prices Expected to Rise Through 2018

    The predicted 2017 average is $3.55 per million British thermal units, and the 2018 average will be $3.73 MMBtu. The average for 2016 was $2.51 MMBtu.

    Online Articles

    Online Articles

    Mon, 23 Jan 2017

  8. Oil and Gas: Study: Idaho natural gas and oil tax rates below many states

    Idaho's effective tax rate on natural gas and oil production is less than half the average when compared with eight other producing states, according to a tax-comparison study released Thursday.

    Online Articles

    Online Articles

    Sat, 21 Jan 2017

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