Colby Cooper-Majors on the move

Now that the independents have proven that the Barnett Shale is firmly established and hugely productive, major companies including Chevron, Texaco, Concoco Phillips, and BP have moved into the area. Shell has also recently acquired significant acreage in Parker County. Approximately 50% of all drilling rigs now operating in the Barnett Shale are currently located in Parker and, to some extent, Johnson County. “It makes sense,” explains Tom Biracree, Senior Financial Editor with John S. Herold Inc. “The industry is seeing a decided trend moving toward development on-shore natural gas resources in the continental U.S.” Mr. Biracree goes on to state, “Developing natural gas resources in the continental U.S. also permits the major companies to avoid the political risk of working overseas. The rules of the game don’t change here like they can when you’re dealing with a foreign government.”

The United States Department of the Interior/United States Geological Survey estimate of undiscovered natural gas is 26.7 trillion cubic feet, a mean of 1.1 billion barrels of undiscovered gas liquids and a mean of 98.5 million barrels of undiscovered oil.

Outside technical, on-site inspections and assistance with regards to the Barnett Shale if and when required is to be supplied by the firm of Netherland Sewell, Dallas Texas. http://www.netherlandsewell.com/