Exxon Commercial
Has anybody else seen the new Exxon commercials where they are talking about all of this new technology that they are useing on the land based shale formations ? Where exactly are they working on land or who are they in cahoots with ?
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Replies to This Discussion
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Permalink Reply by Grillin' - MmmMmm on -
Haven't seen the commercial and really haven't seen Exxon in any of the shales in the U.S. other than oil shales in Colorado. That dates back many many years ago and is currently being resurrected with a lot of R&D work. But at $40 oil, those projects aren't going anywhere anytime soon. Plus the Demo's and the Greenie Weenies are trying to kill it off anyway.
Exxon has just signed a big big deal in Hungary to explore and develop shale gas. They have signed on for 184,000 acres there (net 123481 acres to XOM's 66% WI). They paid $25 MM ($200/acre) plus will pay $50 MM in study costs/seismic/etc, bringing total cost of deal to about $600/acre.
XOM was in the Barnett in a small way but never got traction. They sold out earlier this year. They have a big tight gas sand play in the Piceance Basin in Colorado. Similar to shale gas plays, wells on very very tight spacing, horizontals, multi fracs, etc.
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Permalink Reply by Grillin' - MmmMmm on
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Could be their Piceance Basin project. However this isn't a shale play it is a tight gas sand play. Don't know of any other project they are working on that scale with NG in the U.S. Now it could be the shale gas plays in British Columbia and Alberta, Canada. They and their sub Imperial are players up there too.
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Permalink Reply by Snake Stewart on
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They sure made it sound like they were talking about here in the states.
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Permalink Reply by Les Bamburg on
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What Snake, you didn't Youtube it for the rest of us?
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I have to apologize Les. This is going to sound silly but I dont "Tube" unless someone leaves me the link.(LOL) Havent advanced cyberly enough to this point to be able to help you there. I actually saw it on regular t.v. this week. If I would have tivo'd it I could have rewinded long enough to really hear what the guy said for sure.
Alas, I dont tivo all that well either.
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Permalink Reply by Grillin' - MmmMmm on
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I've tried finding the commercial but can't seem to find it. Looked on the XOM web site under Advertising. They have 6 commercials with various technologists/scientists/managers talking about their work but nothing that mentions gas and shale. Lots of mentions of gas and clean energy, but nothing more than a seismic technique. Again, no mention of shale or US.
If I find it I'll post a link.
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Thanks Mmmarkkk. The commercial actually had an animated shale drilling layout with the different types of cores that they run through, if I am not mistaken. It isnt brand new either I dont believe but it does follow the other scientific advances/clean energy scenarios tho.
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Permalink Reply by sesport on -
I saw it, too, but didn't pay much attention to it because it so much resembled CPK's and I thought "Yeah, we've already heard that." Wish I could help with more detail, but I did see it once or twice within the past week.
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THX Mr. Krow,
Could you provide a link to the article ? I would like to read up on this a little more.
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Permalink Reply by Les Bamburg on
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Permalink Reply by Grillin' - MmmMmm on
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Horn River and its "sister" the Montney shale plays share some comon traits with the Barnett, Haynesville, etc. They do have one problem we don't have: winter weather that restricts their drilling activities! Large amounts of the land up there is owned by government so you don't get the fractured ownership we see here onshore U.S.; dealing with one or two government entities and leases is much easier/efficient that dealing with hundreds of landowners/mineral owners who inherited their interests from their parents who inherited it from their parents! The list of royalty owners on some of our wells is 5 pages long in very small fonts. You have 7 to 8 zeroes to the right of the decimal point before you ever get to a non-zero number. Ever try keeping track of 300 royalty owners, some of which own 0.000000025 royalty (0.0000025% !!!)?
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Permalink Reply by Skip Peel - Mineral Consultant on
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Every shale play has it's unique challenges. Imagine the difficulties involved with drilling in the Marcellus Shale. Mountainous terrain, few roads and winter weather. There is little existing infrastructure. Can you imagine building pipelines in those conditions. I experienced them when I worked for Texas Eastern Corp. in the 1970's. Tain't a picnic. I have seen reports of companies constructing specialized drilling rigs and associated equipment to deal with the terrain challenges. Makes good old flat and balmy N. LA. look pretty good to many E&P companies.
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