Absolutely nothing new in this piece, from Investopedia, someone we never heard of before, although they are part of Forbes Digital. The story opens with some promise, although it's been what we've been saying since last summer.
Although the market generally ignores Western Europe when it comes to oil and gas development, the continent does have existing fields already producing, and several promising areas for future exploration and production of unconventional oil and gas resources.
But then:
One of the largest fields in Europe is the Groningen natural gas field in the Netherlands, which just celebrated the 50th anniversary of its discovery. Exxon Mobil (NYSE:XOM) and Royal Dutch Shell (NYSE:RDS.B) drilled the first well in the field jointly, and the entire field contains an estimated 100 Tcf of natural gas.
There are other formations both below and above the natural gas producing areas, according to geologists, including an oil sand, gas shale and a coal seam. Although the industry has known about these other areas for years, not enough is known about these formations to determine if they are commercial.
There are other formations both below and above the natural gas producing areas, according to geologists, including an oil sand, gas shale and a coal seam. Although the industry has known about these other areas for years, not enough is known about these formations to determine if they are commercial.
As reported in No Hot Air "That was then, this is now" June 18. And the story continues
A little bit to the south, micro cap Toreador Resources (Nasdaq:TRGL) is exploring the Paris Oil Basin
As we said on 4 June in "Paris Texas?" Anything new in this piece yet:
Also in France, Total SA (NYSE:TOT) and several other companies are seeking permits in Southern France to explore the natural gas shales that are present in the region.
Mais non. We reported on that one on 30 May "And now French Shale Gas". Maybe he's waiting for the last paragraph
This potential has not gone unnoticed by the more aggressive U.S. based exploration and production companies. Chesapeake Energy (NYSE:CHK) is in a joint venture with StatOil Hydro ASA (NYSE:STO) to develop the Marcellus Shale in the Northeastern United States. StatOil Hydro said, in May, 2009, that it and Chesapeake Energy were looking at 14 different shale plays outside the U.S. The areas in Europe under study are Hungary and Poland.
We hate to sound like a poorly paid broken record, but we said that on 18 May in "European Shale Gas doesn't start out in Europe. The only question not answered is how much do people like this get paid, and who pays for the advice.
Comments