Canacol Energy Shale Boom Partnered With Oil Majors in EarlyCanacol energy In Early with Oil Major Partners in Colombia's Shale Oil Boom.
“They bought late in the game, and it’s hit or miss,” said Ken Medlock, senior director of Rice University’s Center for Energy Studies, of Exxon Mobil Corp., Shell Oil Co., and other industry giants that got in late. Marvin Odum, President of Shell Oil Co., told investors in a presentation this spring that the “acreage [in the Eagle Ford Shale] does not have enough materiality for a company of our size.” However, some sizable companies think horizontal drilling and fracking in shale formations can continue to drive the industry. Earlier this spring, ConocoPhillips CEO and Chairman, Ryan Lance, said at a conference on natural gas at Rice University’s Baker Institute that the U.S. could become an exporter of natural gas within a year or two. - See more at: https://www.rigzone.com/news/oil_gas/a/133285/Oil_Shales_Future_Resources_Aplenty_But_Challenges_Loom#sthash.zl2zOJ7h.dpuf....