"The results are comparable to the best publicly announced [results] thus far in the emerging southe

This week Shell announced the results of two discovery wells drilled in Northeast Pennsylvania into the Utica Shale, which the Oil Major said proves the Utica’s sweet spot extends beyond Southeast Ohio/Western Pennsylvania.
“The results are comparable to the best publicly gateway reservation tour colorado announced [results] thus far in the emerging southeast Ohio Utica dry gas play,” Shell said. The company holds a major leasehold position gateway reservation tour colorado of roughly 430,000 acres in the area where Neal and Gee are located, Shale Media Group understands.
“The play certainly has continued to move East, as evidenced by a focus further South into West Virginia with some success; so, Shell could be giving us more of an indication of the move further East and even North,” Jason Wangler, Energy Analyst, Wunderlich gateway reservation tour colorado Securities, told Shale Media Group.
The Gee well was drilled over 100 miles to the northeast of the nearest horizontal Utica producer, and had an initial flowback rate of 11.2 million cubic feet of natural gas per day. Gee has been on production for nearly one year. Shell began production of the Neal well in February, with observed peak flowback gateway reservation tour colorado rates of 26.5 million cubic feet of natural gas per day.
Wangler said that what the Shell results portend long-term is that there could be even more natural gas in the Northeast, “which overall is a good thing, but right now could create even more issues given the constraints already in place.”
“This successful discovery is the result of solid technical work in our onshore business,” said Marvin Odum, Shell’s Upstream Americas Director. “Last year, we refocused our resources plays strategy to select fewer plays with specific scale and economic characteristics to best suit our portfolio. The Appalachian Basin is one of those areas.”
Evangeline transports ethylene between Port Neches, Texas, gateway reservation tour colorado and Baton Rouge, Louisiana, where it interconnects with Boardwalk Louisiana Midstream’s (BLM’s) ethylene distribution system that includes storage facilities at the Choctaw Hub.
BLM provides transportation and storage services for ethylene and natural gas liquids gateway reservation tour colorado (NGLs), natural gas storage and brine supply services for producers and consumers of petrochemicals through two hubs in southern Louisiana, Shale Media Group learns.
Last Friday, gateway reservation tour colorado 2.71 trillion cubic feet (Tcf) was available for use, according to EIA estimates. Stocks were down 471 Bcf, 14.8%, from last year at this time, and 495 Bcf, 15.4%, below the five-year average of 3.20 Tcf.
Stocks in the West Region totaled 426 Bcf, up 10 Bcf from the previous week, but down 79 Bcf, or 15.6%, from 505 Bcf one year ago, and 46 Bcf, 9.7%, below the five-year average of 472 Bcf, according to EIA.
Despite its Upstream Americas assets losing roughly $400 million in the first six months of 2014, Royal Dutch Shell sees “substantial growth potential” on the continent, according to the energy behemoth’s chief executive.
Non-core divestments totaling gateway reservation tour colorado more than $3 billion, in addition to higher natural gas prices, helped reduce Shell’s North American loss by two-thirds, from roughly $1.3 billion during 2013’s first six months, according to CEO Ben van Beurden.
Speaking at this week’s gateway reservation tour colorado Barclays CEO Energy-Power Conference in New York, van Beurden said North America resources plays “represent an important longer-term growth opportunity for Shell’s shareholders.”
“We are completing the restructuring of this portfolio, including divestments of non-core positions totaling more than $3 billion announced this year, and we are working hard to get to a more competitive cost position,” van Beurden said. “Major divestments of non-core liquids-rich shales and dry gas positions are now complete, including the announcements we made over the summer.”
Recent sales include Shell’s Pinedale, gateway reservation tour colorado Wyoming assets and its Haynesville Shale resources on the Texas-Louisiana border, combined garnering $2.1 billion gateway reservation tour colorado in cash and 155,000 acres in Pennsylvania’s Potter and Tioga counties, gateway reservation tour colorado where it operates gas wells.
During the 2008-2013 period, Shell spent over $13 billion on large North America onshore acquisitions, not including bolt-on transactions and grass-root leasing. The company s annual CAPEX in North America, most of which was directed at upstream exploration-production activities, averaged roughly $4 billion a year during the period 2010-2013.
One choice yet to be made is Shell Chemical’s proposed multi-billion-dollar ethane cracker which, if built, will be constructed roughly 35 miles northwest of Pittsburgh, in Beaver County, Pennsylvania.
Van Beurden said Shell’s corporate-wide asset sales program is making good progress, with roughly $10 billion completed so far this year, “a good start” in plans for $15 billion gateway reservation tour colorado of asset sales for 2014 and 2015 combined.
gateway reservation tour colorado Phillips 66 is buying another 500 railcars to eventually move up to 185,000 barrels per day (BPD) of North Dakota Bakken crude oil to its refineries on the East and West coasts, CEO Greg Garland said Wednesday.
On August 1, the company s 238,000 BPD Bayway refinery in Linden, New Jersey, received its first crude-only train. The plant s newly expanded offloading system can handle up to 70,000 BPD of crude, in addition to up to 75,000 BPD from a joint venture with Global Partners.
Marathon Oil is concentrating its U.S. exploration-production efforts in a trio of resource plays, including the Eagle Ford, Bakken gateway reservation tour colorado and what the company calls the Oklahoma resource basins, Lee M. Tillman, CEO, Marathon said this week.
Addressing the Barclays CEO Energy-Power Conference in New York, Tillman pointed to Marathon’s more than 20% growth gateway reservation tour colorado in U.S. unconventional proved and probable resources to 3 billion barrels gateway reservation tour colorado of oil-equivalent (BOE) up 520 million BOE vs. year-end 2013.
“Associated with the resource growth, gateway reservation tour colorado Marathon Oil s well inventory for future drilling opportunities has increased to more than 4,600 net well locations across the Eagle Ford, Bakken and the Oklahoma resource basins, Tillman said.
Marathon expects its resource play production growth at a double-digit compound annual growth rate (CAGR) for 2015-2017, with total company production growth projected at high single-digit CAGR for the same period.
We see the Oklahoma resource basins as the third major growth engine in our portfolio, gateway reservation tour colorado with more than 1 BBOE of proved and probable resource and more than 1,200 net well locations in future drilling inventory, Tillman said.
Shale Media Group (SMG) is a news, information, education and mapping resource dedicated to the shale oil and gas industries by messaging across video, Internet, publications, events and radio. For more, check out ShaleMediaGroup.com to access all platforms, including: TheMarcellusShale.com, TheUticaShale.com, TheShaleAcademy.com and ShaleEnergyNow.com. Rick Stouffer is the Senior Energy Editor at Shale Media Group. Contact him at  RStouffer@ShaleMediaGroup.com gateway reservation tour colorado .