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Boom in US Production Drives Down Natural Gas Prices


Natural gas prices have fallen dramatically this year much like crude prices, but shrinking demand is only one culprit. The other is a gas glut from a boom in U.S. production.

Oil Mine Exploration Investment Future, Extraordinary Potential of Oil Shale


Along the western slope of the Rocky Mountains lies a possible path toward energy independence.
The world’s largest deposit of oil shale is hidden here, beneath a landscape dotted by pinyon pines and twisted junipers.
If the oil industry can learn how to extract oil and gas from the oil shale in a cost-effective manner, the United [...]

North Dakota’s mineral resource leader gives estimate of oil in Bakken formation


North Dakota’s own estimate of how much oil can be gotten economically, using current technology, from the Bakken formation in the Williston Basin is slightly above or below 2.1 billion barrels, Lynn Helms reported this morning at a conference here.
Helms, director of the state’s department of mineral resources, said that estimate is based on a [...]

Energy companies pin hopes on shale oil in Colorado and Utah


In Colorado and Utah, there is as much oil as in Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined, according to estimates.
Trapped in limestone up to 200 feet, or 61 meters, thick in the two Rocky Mountain states is enough so-called shale oil to rival [...]

Utah, Colorado rival OPEC oil reserves, lure Chevron, Exxon, Shell


Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.
That’s not science fiction, according to Bloomberg News. Trapped in limestone up to 200 feet (61 meters) thick in the two Rocky Mountain states is enough so-called shale oil to [...]

Oil shale’s lure beckons wiser Western Slope


The promise of oil shale collapsed in thousands of pink slips and many more broken dreams and fortunes on May 2, 1982 – a day known here as Black Sunday.
On the 25th anniversary of the oil-shale industry bust, the resource still dangles the enticing prospect of a new domestic source of fuel. And once again, [...]

Delta Petroleum Corporation Provides Update on Operating Activities and Announces New Senior Vice President of Operations


Delta Petroleum Corporation , (Nachrichten) an independent energy exploration and development company (”Delta” or “the Company”), today provided the following update regarding its production, drilling and other operating activities.
PICEANCE BASIN ACREAGE AGREEMENT
North Vega, Piceance Basin, CO — Delta has entered into an agreement with EnCana Oil&Gas (USA) Inc. (”EnCana”) that offers Delta the opportunity to [...]

Record energy prices may be near


Analysts at a Denver energy conference say BP’s shutdown of an Alaska oil field will raise prices at least temporarily.
The shutdown of the United States’ largest producing oil field is likely to send near-record energy prices into uncharted territory.
Analysts said the closure of BP Plc’s Prudhoe Bay oil field in Alaska will spook the already-nervous [...]