Over a barrel: Market prices threatened by expected influx of new wells
Wednesday, August 24, 2016
This fall prolific shale producers plan to return to the oil fields, endangering recent price increases.
The Wall Street Journal reports that Devon Energy Corp., Pioneer Natural Resources Co. and other big players in the shale industry have informed investors they intend on pouring money into drilling new wells.
Through the initial wave of activity, the American energy companies showed resilience as oil plummeted from over $100 a barrel in June 2014 to less than $30 earlier this year. However, the anticipated inundation of well production is making some energy experts nervous.
Learn more: The Wall Street Journal > Some Shale Drillers Return to Oil Patch — Energy Journal
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
Will I get free natural gas if I allow fracking on my property?
Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.