• 4 minute Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 8 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 15 minutes Oil and Trade War
  • 3 hours Could oil demand collapse rapidly? Yup, sure could.
  • 11 hours Migrants: Italy Wants EU Border Agency In Africa, Not At Sea
  • 8 hours Are EVs Safer Than Combustion Engine Vehicles?
  • 4 hours What If Canada Had Wind and Not Oilsands?
  • 7 hours WE Solutions plans to print cars
  • 7 hours Russia, Saudi Push For Big Hike In Oil Output Despite Iran Opposition
  • 7 hours Oil prices going down
  • 12 hours Nopec Sherman act legislation
  • 11 hours Sell out now or hold on?
  • 14 hours The Irrelevance Of BTU Rating - Big Oil's Gimmick To Hoodwink The Public
  • 16 hours China & India in talks to form anti-OPEC
  • 18 hours Sabotage at Tesla
  • 14 hours After Three Decade Macedonia End Dispute With Greece, new name: the Republic of Northern Macedonia
  • 13 hours Trump Hits China With Tariffs On $50 Billion Of Goods
  • 6 hours Oil and Trade War
  • 6 hours Australia mulls LNG import
Alt Text

Miami Is Running Out Of Gasoline

Hurricane Irma is nearing Florida…

Alt Text

Is Premium Gasoline A Waste Of Money?

Last year, the AAA reported…

Darrell Delamaide

Darrell Delamaide

Darrell Delamaide is a writer, editor and journalist with more than 30 years' experience. He is the author of three books and has written for…

More Info

Trending Discussions

Chevron to Seek Shale Gas in Poland as Europe Focuses on Unconventional Reserves

Chevron has acquired exploration rights for four shale gas concessions in southeastern Poland, the U.S. oil giant said in a recent SEC filing, joining other international companies in the hunt for unconventional gas reserves in Europe in the hopes of duplicating the production boom in the U.S.

The need in Europe to reduce dependence on imported gas, especially from Russia, is spurring efforts to tap shale gas and coal-bed methane using new technologies that have proven successful in U.S. production.

ExxonMobil, ConocoPhillips and Marathon Oil also have recently acquired exploration rights in Poland. Chevron won five-year exploration licenses in the Zwierzyniec, Kransnik, Frampol, and Grabowiec concessions. The company has a 100 percent-owned and operated interest in these four concessions to explore for shale gas.

ExxonMobil is looking at Germany and Poland for its first test efforts at finding shale gas in Europe, a top executive told news media at an industry conference in Amsterdam last week. Techniques like horizontal drilling make it possible to explore even in densely populated areas, Exxon’s Richard Guerrant said.

Other areas attracting interest of the oil majors include southern Sweden, Hungary and other parts of Eastern Europe.

However, Guerrant cautioned that such production is only in its early stages in Europe and it will take some time to ramp up to anything like U.S. levels. Drilling equipment is harder to come by in Europe, analysts note, and European governments are more likely to scrutinize possible environmental harm from techniques like hydraulic fracturing. Groups in the U.S. have charged that such methods pollute the groundwater.

But authorities are concerned by projections that 70% of Europe’s natural gas will be imported by 2030. The experience in the U.S. has indicated that tapping unconventional reserves can dramatically ease the supply situation.

Exxon in December agreed to acquire XTO Energy, a major producer of shale gas in the U.S., in a deal valued at $41 billion. Chesapeake Energy, another major player in shale gas, has been selling off stakes in its U.S. production sites to European companies like BP, Total and Statoil.

By. Darrell Delamaide


x


Back to homepage

Trending Discussions


Leave a comment
  • Anonymous on March 11 2010 said:
    A recent article in an Oslo paper gave a nice resume about shale gas. Apparently there are people around who think that Russian gas will not be needed west of the Russian border. Fortunately, gas is not needed in Sweden, because if it was I would have to find somewhere else to live. Shale gas may turn out to be just what the doctor ordered, but on the other hand it may be something else. If it is 'something else' and the Russians are told to sell their gas somewhere else, then somebody could be in deep trouble eventually.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News