shale

The United States Geological Survey (USGS) has released an updated oil and gas resource assessment for the Bakken Formation and a new assessment for the Three Forks Formation in North Dakota, South Dakota and Montana, showing the formations contain an estimated mean of 7.4 Bbbl of undiscovered, technically recoverable oil.

Atlas Energy LP’s midstream subsidiary, Atlas Pipeline Partners (APL) LP, has a definitive agreement to acquire 100% of the equity interests of TEAK Midstream LLC for $1 billion.

Dakota Plains Holdings Inc. and joint venture partner, Petroleum Transport Solutions LLC, an indirect wholly owned subsidiary of World Fuel Services Corp., report construction is underway for the Pioneer Project.

MarkWest Utica EMG LLC, a joint venture between MarkWest Energy Partners LP and The Energy and Minerals Group, has agreements with PDC Energy Inc. to provide gathering, processing, fractionation, and marketing services in the Utica Shale in Ohio.

Strategy Engineering & Consulting LLC was awarded a contract by Chesapeake Energy to design a Central Production Facility (CPF) in the Eagle Ford Shale.

Rangeland Energy expects to invest more than $150 million in a terminal and supporting infrastructure in Loving, NM. The company has contracts to purchase 770 acres near Loving and plans to begin development of a terminal facility capable of handling crude oil, frac sand, pipe and other products.

Continental Resources Inc. has agreed to supply PBF with Bakken crude oil, which will be delivered by rail to PBF’s double-loop track at its refinery in Delaware City, DE.

A panel discussion was recently waged by a Canadian, an American and a Mexican talking about North America’s energy future as the new Middle East for the rest of the world. Hyperbole was cheap, but chances of the provocative scenario becoming a reality ride squarely on the shoulders of Mexico. And everyone was OK with this.

The Eagle Ford Shale, stretching from the mid-south of Texas just shy of Corpus Christi north nearly to San Antonio and west to the Mexican border, continues to attract massive investments from energy companies. It’s not hard to see why. The play contains economically recoverable light crude oil and natural gas liquids in high proportion to currently low-priced gas.

Without question, the growing abundance of natural gas and the hydraulic fracturing process that has made it available have been a “game changer” for the energy industry - and have generated increased ire from the environmental community.

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