Energy Environmental Blog

Oil Companies Looking to the Shales

Written by Greg Russell | Mar 28, 2010 9:16:33 PM

The Houston Chronicle is reporting on several large oil companies taking positions in natural gas shale basins.  Regarding Shell, for example:  "He [i.e., Marvin Odum, president of Houston-based Shell Oil Co.] now considers the holdings [in the Eagle Ford shale] a key piece of a North American gas portfolio the company has spent the last two years building, and that now encompasses 2.4 million acres of land and a resource holding of 21 trillion cubic feet of natural gas — 8 trillion cubic feet of which was added in 2009 alone."  Interesting.