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Top Shale Gas Stories for the Week of 3/24

Friday, March 29, 2013 by

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Here’s this week’s top shale gas stories:

( 1 ) High Natural Gas Prices Could Mean the End of the Shale Boom

According to the Christian Science Monitor, the rising price of natural gas could undermine the story that the United States has plenty of cheap energy for the future.

Kurt Cobb, the article’s author, thinks America’s promise of cheap natural gas will be void if natural gas liquids are exported. Exporting America’s natural gas, according to Cobb, would increase the price American’s would pay for the resource.

Cobb concludes that the shale gas boom isn’t as beneficial as American’s would like to think:

“…at some point shale gas might even allow U.S. production to rise modestly above current levels. But, two things are now abundantly clear: It won’t be easy and it won’t be cheap.”

» Via: The Christian Science Monitor › Do high natural gas prices mean the shale boom is ending?

 

( 2 ) Exxon Mobil Spent $2 Million on Pro-Fracking Campaign

In the wake of New York State passing a fracking moratorium a few weeks ago, it’s been discovered that Exxon Mobil spent $2 million on a pro-fracking ad campaign in 2012, according to Pressconnects.com.

» Via: Pressconnects.com › Exxon Mobil spent $2 million on pro-fracking NY ad campaign 

 

( 3 ) Utica Shale Coming into Focus

Investors are awaiting the production numbers from the Utica shale, set to be released on March 31 by the Ohio Department of Natural Resources, according to Fox Business.

Ohio publishes well data once a year. Fox Business reports that most states publish well data quarterly. More importantly, last year’s report from Ohio only included numbers from producing wells in the state–there were only 5 producing wells at the time.

The next report from Ohio should include some 50 producing wells, giving investors, and the public, a much clearer picture on how the Utica is producing.

» Via: Fox Business› Exxon Mobil spent $2 million on pro-fracking NY ad campaign 

 

( 4 ) Saudi Arabia Plans to Develop Shale Gas

We’ve heard plenty of stories how the United States could be energy independent or, more ambitiously, the next Saudi Arabia. Saudi Arabia, however, isn’t taking the news sitting down. According to the Wall Street Journal, Saudi Arabia, “intends to remain a world energy powerhouse for the foreseeable future.”

Saudi Arabia, the world’s largest exporter of crude oil, is exploring the possibilities of utilizing unoventional gas reserves. In other words, the country wants to take advantage of hydraulic fracturing.

The U.S. will out-pace Saudi Arabia as the world’s largest exporter of crude oil by 2020, according to the International Energy Agency.

» Via: The Wall Street Journal› Saudi Arabia to Drill for Shale Gas This Year

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Farm and Dairy, a weekly newspaper located in Salem, Ohio, has been reporting on topics that interest farmers and landowners since 1914.

Through the Shale Gas Reporter, we are dedicated to giving our readers unbiased and reliable information on shale gas development.