DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/p8zxdv/barnett_shale_in_t) has announced the addition of GlobalData's new report "Barnett Shale in the US, 2012 - Gas Shale Market Analysis and Forecasts to 2020" to their offering.
Executive Summary:
Barnett Shale Pioneers Progress in US Play, Driving Unconventional Oil and Gas Growth in the US
The major role played by the strategically developed Barnett shale in the US natural oil and gas production is expected to provide a model for the development of other shale plays, according to a new report by GlobalData.
The new report states that the Barnett shale combo has historically attracted substantial investments from oil and gas companies. High crude oil prices are anticipated to encourage oil and gas companies to explore and develop Barnett shale combo projects in the future.
Gas wells in the Barnett shale reached a total of 15,731 in March 2012. Drilling and exploration activities have continued to improve, due to advanced fracturing technology that allows oil and gas companies to operate at substantially high recovery rates in the initial production phase. This means that fewer rigs are required in the drilling process to drill a higher number of wells than ever before, improving the productivity of the wells drilled. Operators have also improved their techniques to reduce drilling times, leaving many wells to be drilled from one multi-well pad, which has led to growing efficiency in production rates.
Clearly, these new technologies are paying off for major oil and gas companies, who have been busy acquiring new resources in the liquid-rich area of the Barnett shale play. EV Energy Partners and Enervest have expanded their acreage position in the Barnett shale combo by acquiring natural gas assets worth $1,083m in November 2011. Pioneer Resources has also planned to invest around $170m.
The total number of permits issued in Barnett shale reached 3,642 in 2011. With 1,231 new gas permits issued in 2011 alone, interest is increasing in development and drilling activities in the shale play. It is anticipated that the total number of permits will continue to grow, with more drilling locations popping up not only in this shale play, but in other plays that can mimic its success.
During 2003-2011, the cumulative gross gas production of the Barnett Shale was 10.8 trillion cubic feet (tcf). It is expected that future gross production will reach 2,068.6 billion cubic feet equivalent (bcfe) in 2012, later stabilizing at 2,562.5bcfe in 2020.
This report provides insight into the exploration, production, and development of the Barnett gas shale in the US. It highlights the gas exploration potential in the Fort Worth region of the Barnett shale play, providing details of the key exploration areas, major companies exploring the Barnett shale, and the drivers and challenges for shale gas exploration in the US. The report discusses the drilling and exploration activities in different counties of the state of Texas, and also highlights the parameters for gas exploration and production, such as the permits issued in different counties, the companies involved, and the drivers and challenges to development.
Scope
The scope of the report includes -
- An overview of the oil and gas exploration in the Barnett shale.
- Discussion of the major issues and drivers affecting shale gas exploration in the Barnett shale.
- Information on drilling and exploration activities in the dfferent counties of Texas, including the core counties of Tarrant, Wise, and Johnson.
- An overview of the competitive landscape of shale gas exploration in the Barnett shale, detailing major companies operating in the region.
- Current exploration and production statistics for the Newark East Field of the Fort Worth Basin in the Barnett shale play. The report also provides forecasts for Barnett shale production from 2012-2020.
- Coverage and an overview of operations in the Barnett shale.
- Information on the major mergers and acquisitions in the Barnett shale play from 2007-2012.
- Details of major infrastructure developments in the play.
- Discussion of the cost per well and finding and development costs in the Barnett shale.
Reasons to buy
The report will enhance your decision-making capabilities. It will allow you to -
- Develop business strategies with the help of specific insights into the Barnett shale gas exploration market in the US.
- Plan your strategies based on expected developments in shale gas exploration activities in the US.
- Understand the competitive landscape of the shale gas market in the Barnett shale.
- Keep yourself informed of the key developments in this potentially game changing market.
Companies Mentioned
- Devon Energy Corporation
- EOG Resources Inc
- ExxonMobil Corporation
- Chesapeake Energy Corporation
- Quicksilver Resources Inc
For more information visit http://www.researchandmarkets.com/research/p8zxdv/barnett_shale_in_t
Source: GlobalData