After years of declining production in the San Juan Basin, companies are eyeing the shale play for both natural-gas and oil potential because of advances in hydraulic fracturing and horizontal drilling technologies that have helped operators unlock shale gas and oil across the nation.
Its reasonable that the Mancos Shale could be a really, really good shale play in the San Juan Basin, said Darryl Williams, the vice president of subsurface for BP North America Gas Exploration and Production Co.
Other presenters were more direct.
Im bullish on the Mancos, weve already seen a number of wells drilled that are economic, said T. Greg Merrion, president of Merrion Oil and Gas. Im looking forward to this next boom.
With natural-gas prices hanging around $4 per thousand cubic feet, many conference speakers focused on the oil-producing window of the shale play located in the southern San Juan Basin.
The play has been estimated to contain up to 60 billion barrels of oil, about 10 percent of which is expected to be recoverable, according to estimates by Encana and Daniel Fine, a senior energy analyst with the New Mexico Center for Energy Policy.
The possibility of a resurgence had some speakers proclaiming the beginning of a new era of economic prosperity for northwest New Mexico.
These are happy times again, former U.S. Senator Pete Domenici said.
this is a test.
this is good news. the cline shale formation in west texas will probably make more news in the next year. all the early test wells there have been successful and prolific. devon energy is expected to make a big announcement here in the next month concerning that field.
The EPA, DER, DEP, DNR, ACoE, Dept Int will all find a way to kill these projects. Count on it. Same with KXL, except that Buffett Table’s trains will be allowed to move the oil. But no pipelines. The White Hut/Crib isn’t going to allow it to happen. We must stay dependent on the murderous Troglodyte muzzies in the ME.
6B = USA annual crude consumption.
Who owns the leases?