Unconventional Exploration

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  1. AEP forms private-equity partnership for unconventional exploration in Mexico

    EIM Capital , a private equity fund in Mexico City, announced a long-term partnership with an affiliate of American Energy Partners LP (AEP) of Oklahoma City to explore for unconventional resources in Mexico although financial terms were not disclosed. The US Energy Information Administration reported in January 2014 that Mexico ranked eighth in the world in terms of oil and condensate technically recoverable from shale, estimated at 13.1 billion bbl. Regarding natural gas, EIA reported Mexico holds 545 tcf of technically recoverable shale resources ( UOGR, March-April 2014 ). Energy reform in Mexico has opened its oil and gas resources to outside exploration and production companies and outside investors. The greatest unconventional potential exists in the part of the Eagle Ford shale that extends into Mexico’s Burgos basin from South Texas. EIM Capital is led by Chief Executive Officer Franco C. Hamdan and former Mexican President Vicente Fox. AEP is led by Aubrey K. McClendon, former Chesapeake Energy Corp. cofounder and chief executive officer. AEP and EIM Capital agreed AEP will invest in EIM Capital to jointly pursue investments in Mexico’s energy industry and explore unconventional oil and gas development. No specifics were outlined. Hamdan, EIM Capital founder and chief executive officer, said, “Mexico’s proximity to the US market’s established infrastructure, service providers, and operators could help quickly scale the nascent Mexican shale industry and, with the right conditions, Mexico could rapidly emerge as a global leader in energy production.” AEP Chairman and Chief Executive Officer McClendon said, “EIM’s knowledge of and investments in Mexican infrastructure coupled with [AEP’s] knowledge of and operation within the unconventional energy industry will produce unparalleled opportunities.” Contact Paula Dittrick at paulad@ogjonline.com . *Paula Dittrick is editor of OGJ’s Unconventional Oil & Gas Report.

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    Tue, 1 Sep 2015

  2. Beach Energy provides update on unconventional exploration

    Beach Energy Ltd. has provided an update on the unconventional exploration program in the Nappamerri Trough Natural Gas project in PEL 218 and ATP 855, and the South Australian Cooper Basin joint venture.  

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    Wed, 19 Mar 2014

  3. Halliburton, STP form JV for unconventional exploration in China

    Halliburton, the oilfield services company with the largest hydraulic fracturing fleet, has signed an agreement with the SPT Energy Group Inc. affiliate, Petrotech (Xinjiang) Engineering Co. Ltd., to establish a joint venture company focused on hydraulic fracturing and production enhancement ...

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    Fri, 11 Jul 2014

  4. TAG retains unconventional exploration experts

    TAG announces that unconventional oil and gas specialists Stephen L. Dutnell and David B. Cornue have joined the Company's operational team on a long-term contract basis.

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    Wed, 23 Oct 2013

  1. Unconventional exploration agreement for ConocoPhillips and PetroChina

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    Wed, 20 Feb 2013

  2. ConocoPhillips revises down $2 billion from budget

    ConocoPhillips has shed an additional $2 billion from its capital expenditures for 2015, decreasing total spending to $11.5 billion from the previously reported $13.5 billion, in response to the continued decline in oil prices. The $13.5 billion was already down 20% from 2014.

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    Thu, 29 Jan 2015

  3. Origin, Sasol sign farm-in agreement for Beetaloo Basin permits

    Origin Energy Ltd. and Sasol Ltd. have signed a conditional agreement with Falcon Oil & Gas Australia Ltd. for three onshore exploration permits in the Northern Territory’s Beetaloo Basin in Australia.

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    Mon, 5 May 2014

  4. Paradigm to demonstrate advanced unconventional oil and gas solutions at URTeC 2014

    Paradigm will showcase solutions and services that deliver added value in unconventional resource plays at the Unconventional Resources Technology Conference in Denver, CO. 

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    Mon, 11 Aug 2014

  5. Second Exxon Vaca Muerta shale well flows

    Exxon Mobil Corp. has drilled its second well in the vast Vaca Muerta shale formation in Argentina, and, according to news sources, the company says that this second well is flowing at levels that meet or exceed the results of the first well.

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    Fri, 19 Dec 2014

  6. Mexico considers delaying some oil exploration bidding

    Mexico's finance secretary says plunging oil prices may delay bidding on some oil and gas exploration and production contracts. 

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    Fri, 16 Jan 2015

  7. The US should take specific steps soon to use its energy abundance to avert the looming fiscal crisis and accelerate the nation’s economic recovery, SAFE recommended in a new report

    The US should take specific steps soon to use its energy abundance to avert the looming fiscal crisis and accelerate the nation’s economic recovery, Securing America’s Future Energy recommended in a new report.

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    Mon, 3 Dec 2012

  8. Shale gas exploration deal with Chevron pending, Ukraine official says

    A tentative agreement has been reached between Ukraine officials and Chevron Corp. regarding exploration for shale natural gas in Oleska field in western Ukraine, Energy Minister Eduard Stavytsky told reporters in Kiev on June 13.

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    Fri, 14 Jun 2013

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