Earlier this week, Chevron Corp. (CVX) – the second-biggest U.S. oil company – announced the discovery of a new offshore natural gas site (Achilles-1) in Western Australia ’s Carnarvon Basin . The discovery builds on the integrated energy giant’s leading position in this hydrocarbon-rich area and follows the Clio-2 and the Kentish Knock-1 finds in August. Drilled to a total depth of 4,500 meters, the Achilles-1 well encountered 100 meters of net gas pay. The find is situated in the WA-374-P permit area (in the Greater Gorgon region), 160 kilometers off the coast of northwest Australia . Chevron Australia has a 50% operated interest in the prospect, with the other partners being ExxonMobil Corp. (XOM) and Royal Dutch Shell PLC (RDS.A). We believe that the latest exploration success will boost Chevron’s growth prospects in Australia by adding to its already significant gas interests in ...

Royal Dutch Shell (RDS.A) today said that it plans to develop two of its offshore Australian gas fields using its floating liquefied natural gas (FLNG) production technology. This technology is a method of cheaper and quicker development of offshore gas reserves.  Under the FLNG technology, producers won’t have to build onshore LNG plants or set long gas pipelines under the sea. Shell has 100% working interest in both the Prelude and the Concerto fields. These fields will be developed one after another.  The Prelude FLNG project is now in the front end engineering and design phase of development. This field has 2.5 trillion to 3 trillion cubic feet of gas and about 120 million barrels of condensate. The company is expected to underpin an LNG plant with an annual capacity of 3.5 million tons. Shell has a history of innovation on the technology front.  The ...

Yesterday, U.S. oil major Chevron Corp. (CVX) and its partners announced the final investment decision on the massive Gorgon liquefied natural gas (LNG) venture in Australia following the receipt of the necessary government approvals. The company said that its Australian subsidiary will proceed with the construction of the project later this year.   Chevron holds a 50% operated interest in the A$43 billion ($37 billion) project, with the other partners being ExxonMobil Corp. (XOM) and Royal Dutch Shell PLC (RDS.A). The Gorgon gas fields, off the coast of Western Australia, are estimated to contain 40 trillion cubic feet of gas deposits and have an expected economic life of at least 40 years from the time of start-up. Chevron said that the venture will have an annual capacity to produce 15 million tons of LNG, with the first shipment expected in 2014.     The Gorgon project will

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Chevron Corp. (CVX), the second-biggest U.S. energy company, gained approval from the Australian environment ministry to start its Gorgon liquefied natural gas (LNG) venture on the Barrow Island nature reserve. The decision is subject to conditions on managing and protecting local fauna, especially the endangered flatback turtle.

Chevron holds a 50% operated interest in the $42 billion project, with the other partners being ExxonMobil Corp. (XOM) and Royal Dutch Shell PLC (RDS.A). The government approval to Australia's single largest natural resources project paves the way for a final investment decision by the Gorgon joint venture participants, once they get the nod for production licenses and construction plans.

The Gorgon gas fields, off the coast of Western Australia, are estimated to contain 40 trillion cubic feet of gas deposits and have an expected economic life of at least 40 years from the time of start-up. Chevron said that the

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Reconstructing an oil deposit consumed by fire in the north Siberia's Khanty-Mansi Autonomous Area will cost $48 million.  Despite the huge blaze, pipeline operator Transneft says that regional oil supplies are secure.  The conflagration was blamed on a lightning strike.  Further details on the Russia-Mongolia uranium deal, which apparently settled a $150 million debt owed to Moscow, are to be on Reuters.  The Dornad deposit at the center of the deal supposedly holds seven times as much uranium as Russia mined last year.  Taftnet has struck oil in Libya's Ghadames Basin.  RusHydro is hoping to raise electricity rates over what is permitted by the government in order to rebuild its Siberian power plant.  TNK-BP is hoping to recover $204 million from the Federal Customs Service for overpaid customs duties.  Pipeline maker Transneft may sell $1.12 ...

When I'm abroad, I often get asked who of the leaders of the Russian opposition I think stands out in some way. Usually I name Boris Nemtsov, Garry Kasparov, and Vladimir Ryzhkov. In doing so I always reiterate that I am not a political scientist, not a specialist, not an expert, and god knows not some kind of maven on the subject of Russian political reality... My opinion, it is absolutely subjective, as such I'll explain some of my perspectives before getting into this interview, so the reader knows what they are getting.

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Personal impressions play a role: I am acquainted with Vladimir

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Today’s guest is David Galland, the managing director of Casey Research. David’s going to give us a look through the trained eyes of the Casey Researchers at the energy sector, more specifically, natural gas. So take a look and see why David thinks cheap doesn’t always mean buy. As always, be sure to leave us a comment on your energy strategies.

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At the height of its late 2005 rally, natural gas in the U.S. was selling for just over $16/MMBtu, 350% higher than today’s price of $3.56. The oil/gas ratio, now over 18, is an all-time high… suggesting that natural gas is dirt cheap. So, it’s a buy, right?

In a phrase, not exactly.

According to a recent report by Natural Gas Intelligence, U.S. natural gas available for production “has jumped 58% in the past four years, driven by improved drilling techniques and the discovery

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At the height of its late 2005 rally, natural gas in the U.S. was selling for just over $16/MMBtu, 350% higher than today’s price of $3.56. The oil/gas ratio, now over 18, is an all-time high… suggesting that natural gas is dirt cheap. So, it’s a buy, right?

In a phrase, not exactly.

According to a recent report by Natural Gas Intelligence, U.S. natural gas available for production “has jumped 58% in the past four years, driven by improved drilling techniques and the discovery of huge shale fields in Texas, Louisiana, Arkansas and Pennsylvania, according to a report issued Thursday by the nonprofit Potential Gas Committee (PGC).”

According to the report, the increase in gas discoveries and production improvements means that North America shouldn’t have to be concerned about gas supplies for up to 100 years!

Dr. Marc Bustin provided an overview of the situation in the May edition of Casey Energy Opportunities.

In the ...

“It’s only gas,” said the geologists. And wow, were they ever frustrated…  The year was 1959. The geologists were in the Netherlands, near a small town named Groningen, at the southern edge of the North Sea. They worked for Shell and Esso (now Exxon Mobil) and were drilling a well. Instead of oil, however, the drill bored into a massive deposit of natural gas. All that hard work and expense for a disappointing find of natural gas.

But the politicians of Europe weren’t so disappointed. They soon sat up and took notice, because…

With further drilling near Groningen, it became clear that the Dutch gas field was gigantic. We now know that in its early days, the Groningen field was the largest gas field in Europe. In fact, it was one of the largest gas fields ever discovered anywhere in the world, holding over 100 trillion cubic feet of natural gas.

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Bald Eagle Energy, Inc., (BEEI.OB) is in good company as it seeks out oil and gas deposits in the Arctic regions of Alaska. Some of the biggest oil and gas companies in the world are exploring or producing, both on shore and off shore, in and around Alaska.

• ExxonMobil (NYSE:XOM) has been in Alaska for a long time, having invested over $20 billion since 1954, and it’s still there, producing approximately 140,000 barrels of oil per day.

• Royal Dutch Shell (NYSE:RDS-B) is investing billions into offshore exploration in the Beaufort Sea and Chukchi Sea, off Alaska’s north and northwest coasts.

• British Petroleum (NYSE:BP) operates the largest oil field in North America, the Prudhoe Bay Field in far northern Alaska, along with other oil fields and pipelines on Alaska’s North Slope.

• Chevron Corp. (NYSE:CVX) has a number of exploration and production operations on Alaska’s North

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