29 Apr '13, 12pm

Drumbeat: April 29, 2013

Drumbeat: April 29, 2013

Posted by Leanan on April 29, 2013 - 9:46am Ready (or Not?) for a Great Coming Shale Boom The Cline Shale, thousands of feet underground in a roughly 10-county swath, is just one of many little-tapped shale formations in Texas and across the nation, geologists say. That means the potential for oil and gas discoveries is theoretically huge, and the reason is technology. The rock-breaking process known as hydraulic fracturing, coupled with the ability to drill horizontally underground, has allowed drillers to retrieve oil and gas from previously inaccessible areas. Many shales will be too expensive or too small to develop, especially if oil prices fall or environmental regulations tighten. But in Texas, which is already the top oil-producing state, bullishness about a new era is pervasive. “We’re back into another phase of wildcatting, like the old-timers,” said Jamie Small,...

Full article: http://www.theoildrum.com/node/9976

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