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Mitchell is widely credited with personally making a success of the Barnett Shale, and thus creating the gas production boom in the Barnett, and, when other companies imitated his techniques, many other shale-gas and tight-oil successes in the US and other countries. [6] [7] Incrementally, Mitchell Energy found ways to increase production.
US shale gas basins, 2011. Shale gas in the United States is an available source of unconventional natural gas.Led by new applications of hydraulic fracturing technology and horizontal drilling, development of new sources of shale gas has offset declines in production from conventional gas reservoirs, and has led to major increases in reserves of U.S. natural gas.
The Barnett assets acquired from Range include 390 producing wells and approximately 52,000 net acres, 80% of which are located in the prolific core area of the Barnett Shale. Daily net production from the properties was 113 Mmcfe per day (86% gas) as of February 1, 2011, the effective date of the purchase.
With the advent of horizontal drilling and hydraulic fracturing, shale formations have become viable sources of oil and natural gas. In fact, they're actually some of the hottest acreage positions ...
To help Foolish Investors better understand the oil and gas boom in the United States, we're putting together a series of articles focusing on the major energy plays in the 48 contiguous states.
Natural gas E&P player EnCana (NYS: ECA) stuck a giant for-sale sign in the middle of its Barnett Shale front yard last week. The company is looking to divest its 52,000-acre stake in the North ...
The Potential Gas Committee estimates that U.S. recoverable reserves will last 118 years at current production levels. [7] but production is expected to more than triple by 2020. [8] Because of the technological progress in industry fracking, George Mitchell is now known as the "pioneer of shale."
In 2007, shale gas fields included the No. 2 (Barnett/Newark East) and No. 13 (Antrim) sources of natural gas in the United States in terms of gas volumes produced. [ 22 ] A study by MIT says that natural gas will provide 40% of America's energy needs in the future, from 20% today, thanks in part to the abundant supply of shale gas. [ 23 ]