What happened to the Barnett Shale?
What happened to the Barnett Shale?
After nearly 200 active rigs a decade ago, no one is drilling North Texas’ Barnett Shale. It finally happened. Plummeting oil and gas prices, along with the seductive lure of bigger payouts in other parts of Texas and across the country, have brought exploration in North Texas to a halt.
Who owns Barnett Shale?
BARNETT SHALE TEP Barnett is an affiliate of the Total Energies company, the world’s fourth-largest oil and gas company, as well as a major integrated player in the global solar industry. In 2009, Total Energies company became a 25% partner with another Barnett Shale energy company.
How long will the Barnett Shale last?
A recent study by the Bureau of Economic Geology at the University of Texas estimates that Barnett still contains 44 trillion cubic feet of recoverable gas resources, and while annual production may decline from its current peak of 2 trillion cubic feet per year, substantial output is expected to continue through 2030.
Where is Barnett Shale located?
Fort Worth Basin
The Barnett Shale is a geological formation and rich source of natural gas located in the Fort Worth Basin in Northeast Texas.
Why is Barnett Shale important?
North Texas’ Barnett Shale — one of the country’s largest natural gas fields and the birthplace of modern fracking — holds twice as much reachable gas as previously thought, the federal government says. It did not bother to assess how much oil was trapped in the North Texas rock — assuming it was minimal.
What company bought Devon?
WPX
In accordance with the merger agreement, WPX shareholders received a fixed exchange of 0.5165 shares of Devon common stock for each share of WPX common stock owned….Devon Energy and WPX Energy Complete Merger of Equals Transaction.
| Investor Contacts | Media Contacts |
|---|---|
| Scott Coody, 405-552-4735 | Lisa Adams, 405-228-1732 |
Who is buying Devon Energy?
OKLAHOMA CITY –(BUSINESS WIRE)– Devon Energy Corporation (NYSE:DVN) today announced that it has entered into a definitive agreement to sell all of its non-core U.S. oil and gas properties to Linn Energy (Nasdaq: LINE, LNCO) for $2.3 billion , or approximately $1.8 billion after tax.
How deep is the Barnett Shale?
6500–9500 feet
The Barnett shale formation and produces at depths of 6500–9500 feet with a production rate on the order of 0.5–4 million cubic feet per day (ft3/d) with estimates of three hundred to five hundred and fifty cubic feet of gas per ton of shale.
When was the Barnett Shale discovered?
| Barnett Shale | |
|---|---|
| Operators | Devon, Total, GEV Group, EOG, XTO, Range Resources, EnCana, ConocoPhillips, Quicksilver, Chief Oil and Gas, Denbury |
| Field history | |
| Discovery | 1980s |
| Start of production | 1999 |
Why does hydraulic fracturing have to be done?
Hydraulic fracturing is a well-stimulation technique used commonly in low-permeability rocks like tight sandstone, shale, and some coal beds to increase oil and/or gas flow to a well from petroleum-bearing rock formations. A similar technique is used to create improved permeability in underground geothermal reservoirs.
Where is the Eagle Ford formation?
The Eagle Ford Shale is a hydrocarbon-producing geological formation extending over 26 counties. It stretches from the Mexican border between Laredo and Eagle Pass up through counties east of Temple and Waco.