A well written feature by Jonathan Fahey of Associated Press this week provides a well researched synopsis of the shale gas/tight oil revolution and its enormous consequences, from the impact new technology has had to reverse the decline in oil and gas production to the setback it has created for renewables.
It may not be the kind of attention Canadian pipeline operators are looking for, but a tiny
The debate over the disclosure of ingredients in fracture fluids was reignited in the
While it remains to be seen how successful it might be, Royal Dutch Shell’s announcement this week it would invest several hundred million dollars in emerging technology companies is certainly a step in the right direction. The company, one of the industry’s biggest research and development spenders (in 2012, Shell spent more than US$1.3 billion on R&D), indicated it is looking for ideas from outside the company as part of its open-innovation approach.
The enormous challenges involved in remote Arctic offshore oil and gas exploration has claimed—at least temporarily—another victim as Royal Dutch Shell plc acknowledges this summer’s planned drilling activity in the Beaufort and Chukchi seas has been abandoned. As New Technology Magazine detailed in its cover story in January/February—Northern Challenge—Shell has already invested $4.5 billion in its most resent Arctic quest, mobilizing new technologies, a large fleet of drilling and support vessels and six years of planning and jumping through regulatory hoops to get to the point of spudding two exportation wells.
We have seen the impact horizontal drilling and multistage fracking technologies have had on natural gas markets, creating a glut of gas that has flattened prices and led to plans for export of a commodity we once thought