Shale Gas Is Back With This $2 Billion Acquisition

A nearly $2 billion natural gas deal could signal a sign that companies are interested in gas drilling again after a long downturn. Gulfport Energy announced plans to issue new shares in order to finance a $1.85 billion acquisition of acreage in Oklahoma’s SCOOP basin. The SCOOP has emerged as arguably the next most exciting shale play, with acreage still largely undeveloped. The Marcellus and Utica Shales in Pennsylvania and Ohio have been home to the bulk of the shale gas revolution, although Oklahoma has seen years of shale gas drilling…

Shale Gas Is Back With This $2 Billion Acquisition

A nearly $2 billion natural gas deal could signal a sign that companies are interested in gas drilling again after a long downturn. Gulfport Energy announced plans to issue new shares in order to finance a $1.85 billion acquisition of acreage in Oklahoma’s SCOOP basin. The SCOOP has emerged as arguably the next most exciting shale play, with acreage still largely undeveloped. The Marcellus and Utica Shales in Pennsylvania and Ohio have been home to the bulk of the shale gas revolution, although Oklahoma has seen years of shale gas drilling…

Shale Gas Is Back With This $2 Billion Acquisition

A nearly $2 billion natural gas deal could signal a sign that companies are interested in gas drilling again after a long downturn. Gulfport Energy announced plans to issue new shares in order to finance a $1.85 billion acquisition of acreage in Oklahoma’s SCOOP basin. The SCOOP has emerged as arguably the next most exciting shale play, with acreage still largely undeveloped. The Marcellus and Utica Shales in Pennsylvania and Ohio have been home to the bulk of the shale gas revolution, although Oklahoma has seen years of shale gas drilling…

The U.S. Oil Rig Count Hits Its Highest Level Since January

Baker Hughes has reported yet another increase in the U.S. oil and gas rig count this week, with 16 more rigs coming online. The previous two weeks have seen increases of 13 and 27 respectively, bringing the total number of active rigs to 653. The U.S. is now just 47 rigs below the count this time last year, evidencing the recovery that is being seen in both U.S. oil and gas. The most recent climb has largely been fueled by the OPEC production cut agreement, and while not a single barrel has yet been cut by the cartel, the promise to reduce supply…

Saudi Use Of Solar Could Boost Its Oil Exports

Saudi Arabia will turn to solar for electricity, which could allow it to export a lot more oil. The connection between solar and oil is not an obvious one since they typically do not compete against each other – oil is used to refine fuels for transportation while solar is used to generate electricity. Solar traditionally competes with natural gas, coal and nuclear power. However, that is not the case in Saudi Arabia, where oil is still burned for electricity, an increasingly uncommon practice throughout the world. In fact, Saudi Arabia is…