Is there oil in the Haynesville Shale?
In the Haynesville Field area, it has primarily sandstones (including reservoirs productive of oil and gas). However, the Haynesville Formation (Sand) grades into shale to the south and southwest of the town of Haynesville.
Is shale drilling profitable?
In top two U.S. shale fields, oil and gas companies are profitable in the $30 per barrel to low $40s per barrel range, according to data firm Rystad Energy. This year’s higher prices could push the shale group’s cash from operations up by 32%, Rystad said.
How many wells are in the Haynesville Shale?
Several industry sources estimate there are between 35,000-50,000 wells left to be drilled in the play, so production is scalable.
Is shale rock expensive?
The production cost of a barrel of shale oil ranges from as high as US$95 per barrel to as low US$25 per barrel, although there is no recent confirmation of the latter figure.
Where is the Haynesville Shale located?
East Texas
The Haynesville Shale underlies a 9,000-square-mile area straddling East Texas and northern Louisiana. [1] The area has produced natural gas and oil through conventional wells for decades. These wells draw oil and gas from part of the Texas-Louisiana-Mississippi Salt Basin.
Are there any shale resources in the United States?
In the United States, the industry’s ability to develop natural gas from shale, as well as crude oil from tight rock, has helped trigger an energy renaissance.
How is shale gas and tight oil contributing to the US economy?
According to the study America’s New Energy Future, by research company IHS, shale gas and tight oil are contributing to the U.S. economy by creating jobs and driving a rebirth of manufacturing. The energy industry is unlocking abundant shale and tight oil and gas resources, developing affordable energy, and driving the American economy.
Where are the shale resources of Chevron located?
The company’s interests include exploration for and development of shale oil and gas resources from the Vaca Muerta formation in Neuquén province. Chevron Argentina S.R.L. owns and operates one concession, covering 111,000 net acres (450 sq km), that has both conventional production and Vaca Muerta Shale potential.
How does hydraulic fracturing work in the Marcellus Shale?
This creates a network of cracks in the rock that allows trapped natural gas to flow to the well. The sand helps keep the fractures open and gas flowing. In Chevron’s Marcellus operations, hydraulic fracturing is performed in sections along the length of the horizontal well. The entire process takes five to seven days per well.