Exxon Mobil and Chesapeake Energy, two of the largest U.S. producers of natural gas, have admitted that unlocking gas trapped in shale-rock formation and selling it for $3.50 per million British thermal units (MMBtu) is proving more costly, on balance, than extracting $90 per barrel oil.They're just now noticing that?
Not surprisingly, the companies are shifting drilling toward resources with greater potential for oil and natural-gas liquids.
EOG made the switch several years ago, and made it public what their plans were.
No comments:
Post a Comment