• 5 minutes Oil prices forecast
  • 8 minutes Nuclear Power Can Be Green – But At A Price
  • 11 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 16 minutes Europe Slipping into Recession?
  • 15 hours U.S. Treasury Secretary Mnuchin Weighs Lifting Tariffs On China
  • 5 hours Socialists want to exorcise the O&G demon by 2030
  • 6 hours Chevron to Boost Spend on Quick-Return Projects
  • 4 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 4 hours Germany: Russia Can Save INF If It Stops Violating The Treaty
  • 35 mins Connection Between Climate Rules And German's No-Limit Autobahns? Strange, But It Exists
  • 14 hours UK, Stay in EU, Says Tusk
  • 21 hours What will Saudi Arabia say? Booming Qatar-Turkey Trade To Hit $2 bn For 2018
  • 18 hours Maritime Act of 2020 and pending carbon tax effects
  • 6 hours Conspiracy - Theory versus Reality
  • 1 day Venezuela continues to sink in misery
  • 13 hours Regular Gas dropped to $2.21 per gallon today
  • 21 hours German Carmakers Warning: Hard Brexit Would Be "Fatal"
How Supermajors Are Transforming The Permian

How Supermajors Are Transforming The Permian

The Permian Basin once played…

Extreme Volatility In U.S. Natural Gas Market Is Here To Stay

Extreme Volatility In U.S. Natural Gas Market Is Here To Stay

Despite some bearish forecasts, natural…

Massive Natural Gas Discoveries in Northern Spain

Massive natural gas discoveries in northern Spain are reportedly sufficient to supply the country’s requirements for five years.

Spain’s Basque regional premier Patxi Lopez says that surveys in Alava province have identified 13 unconventional gas holdings totaling 180 billion cubic meters in Gran Enara, which could supply the Basque region for six decades, or the entire nation for five years.

The natural gas deposits are located in shale rock deposits, which would require hydraulic fracturing to release them, a contentious technique which has encountered growing resistance in the United States, where the method was first utilized, as well as in other countries.

Despite such environmental concerns, Remier Lopez told the media that the Basque regional government will invest $55 million in the project while U.S. companies Heyco Energy and Cambria Europe will jointly invest $82.4 million, Madrid’s El Pais newspaper reported. According to Lopez, Basque government studies have found a total of roughly 185 billion cubic meters of shale gas in 13 wells in the Gran Enara field in northern Spain’s Basque Alava region.

According to preliminary reports, two wells are to be drilled initially in the Gran Enara field to see if natural gas extraction is technically feasible and economically viable.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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