Tuesday, June 1, 2010

Shell Buys PA-Based Natural Gas Exploration Company


Royal Dutch Shell PLC said Friday it has agreed to buy East Resources Inc., a closely held U.S. natural-gas explorer, for $4.7 billion, in a transaction that underscores the frenzied global interest in North American shale-gas production.

Warrendale, Pa.-based East Resources is one of the biggest players in a natural-gas exploration area known as the Marcellus Shale, with control of 1.25 million acres across a territory that stretches from West Virginia to New York. ...

From Money Morning, June 1, 2010:

"Shell, Europe’s largest energy producer, gets 1.05 million acres of gas properties in the northeastern United States and Texas. About 650,000 acres gained in the acquisition are part of the crucial Marcellus Shale, a tight gas property with shale formations estimated to hold up to 262 trillion cubic feet of recoverable gas.

The remaining acres are part of the Eagle Ford Shale area in South Texas. The deal brings Shell’s total U.S. tight gas acreage up to 3.6 million acres. ...

The move into shale gas allows Shell to remain competitive with industry giant Exxon Mobil Corp. (XOM: 60.45 -0.01 -0.02%), which in December paid $31 billion for XTO Energy Inc. (XTO: 42.69 -0.05 -0.12%), the largest U.S. natural gas producer. The deal will increase Shell’s daily gas production by 7.5%." -Kerri Shannon, Associate Editor, Money Morning

North American natural gas currently accounts for about 7.8% of Shell’s global oil and gas production. Shell has pursued several deals in the North American gas market in recent years, buying Canada’s Duvernay Oil Corp. in 2008, and teaming up with Encana Corp. to develop acreage in Louisiana’s Haynesville Shale exploration area. Shell officials have said they believe that while gas prices are low now, in the long-term they will recover.

Foreign energy companies have moved aggressively on to the scene. Last month, India’s Reliance Industries ltd. invested $1.7 billion for a 40% stake in a joint venture with Atlas Energy inc., which controls about 584,000 acres in the Marcellus. In February, Japan’s Mitsui & Co. announced a deal with Anadarko Petroleum Corp. in which it will invest about $1.4 billion to develop shale gas in the region. ...

Did someone say something about American energy independence? ...WHAT WAS IT?

LINK to complete article.

LINK to inset quote.



  1. Europe is the next play for shale gas.
    Excitement continues to build for in European capitals for shale gas as an alternative to Russian sources of energy. Multinationals including Exxon, ConocoPhillips, Chevron, Talisman, Total, BNK Petroleum, Royal Dutch Shell and others are staking their claim in Sweden, Poland, Germany, Austria, Ukraine and other European nations.

    Natural Gas for Europe www.naturalgasforeurope.com provides updates on developments for those interested in seeing if Poland's Baltic Basin and other prospective European shale formations, will be the next Marcellus, Haynesville, Eagle Ford, etc.

  2. І visited many web pages howеver the audio feаture for audіо songs exіsting
    аt thіs website is genuinely superb.

    my ωebpagе :: premature ejaculation pills

  3. Greetings I am so dеlіghted Ӏ found your blog page, I really founԁ yоu by mistake, while I was reѕearching οn
    Digg foг sοmething else, Regardless I am here now and would just like tо saу many thаnks for a fаntaѕtiс post and a all round intereѕting blоg (I аlѕo lovе the theme/design),
    I don't have time to read through it all at the minute but I have bookmarked it and also added in your RSS feeds, so when I have time I will be back to read a lot more, Please do keep up the superb job.

    Stop by my web-site ... legal highs in texas

  4. I was recommended this blog by my cousin. I'm not sure whether this post is written by him as nobody else know such detailed about my difficulty. You are amazing! Thanks!

    Here is my website size genetics review

  5. сοntinuouѕlу i used to read smallеr
    сontent which also сleaг thеir motive, anԁ that іs also haρpening with this pаrаgraρh whіch I
    am гeaԁіng at thіs ρlaсe.

    my webpage Party Pills Cheap

  6. Τhіs is a great tiρ espеcially to
    thοse new to thе blοgospheгe.
    Simple but νery accuratе info… Apprecіate уοur shaгing thіs one.
    A must rеаd аrticle!

    Heге iѕ my web ρаge - Legal
    Ηallucinogens Plants Drugs - Wikigpia.Info -



Natural gas development in Colorado, the impacts on communities, environment and public health. A primer for public servants and residents of counties that care for their lifestyles.

Drilling for Gas in Bradford County, PA ... Listen!

Cattle Drinking Drilling Waste!

EPA... FDA... Hello? How many different ways are we going to have to eat this? ... Thank you TXSharon for all you do! ... Stay tuned in at http://txsharon.blogspot.com


A film by Txsharon. Thank you Sharon for all you do. Click HERE to read the complete article on Bluedaze: Landfarms: Spreading Toxic Drilling Waste on Farmland

SkyTruth: Upper Green River Valley - A View From Above