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Article: Pricey US Gas Lures Big US Firms To Coalbed Methane.(Brief Article)
- Article from:
- Petroleum Intelligence Weekly
- Article date:
- January 29, 2001
CopyrightCOPYRIGHT 2001 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Expansion in the mature onshore US upstream is not exactly at the top of most integrated oil companies' agendas. But one play has been grabbing even the big boys' attention recently: coalbed methane gas. Some integrated companies have greatly expanded their US coalbed methane operations in recent months, encouraged by the acute shortage of US gas and the prospect of strong natural gas prices for years to come. Marathon, Texaco, and Phillips have all bought US coalbed methane assets since September. Marathon paid $500 million for Denver-based Pennaco, a company that produces coalbed methane gas in the Powder River Basin of Wyoming and southern Montana (PIW Jan. 1,p6). ...