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Posts tagged ‘San Juan Basin’

Join the San Juan Basin Energy Conference 2015! New Mexico Governor Martinez and CEO, WPX Energy Rick Muncrief are speakers!


Event Date and Time
Date: Tuesday, March 24, 2015
Time: All day
Repeating Event: Daily;Until=3/26/2015 12:00am

Location: Henderson Fine Arts Center

Event Details

The continuing drop in oil prices and the opportunities for natural gas will be a focus of the 2015 San Juan Basin Energy Conference, set for March 24-25, at San Juan College in Farmington, NM.

“The conference will give those attending the opportunity to discuss and receive insights into the future of energy and the market it serves,” said Randy Pacheco, dean of the San Juan College School of Energy and the CEO of Four Corners Innovations. San Juan College School of Energy, Four Corners Innovations and New Mexico Center for Energy Policy (a division of New Mexico Tech) are sponsors of the event.

“We expect the 2015 conference to attract the same industry professionals who came in 2013, and who are willing to share their visions and knowledge of the industry,” Pacheco said. “The conference encourages networking and provides a positive environment for leaders to discuss their concerns and their expectations of the future of oil and gas and electrical generation.”

Conference attendees will have an opportunity to learn from keynote speaker Rick Muncrief, an industry professional who is familiar to many in the Farmington, NM, area.

Muncrief, who was named WPX Energy Inc.’s Chief Executive Officer in May, has ties to the San Juan Basin, and will speak to the expected 750 attendees on March 24. Before taking the helm at WPX  in its Tulsa, Okla., offices. Muncrief worked for ConocoPhillips and Burlington Resources locally and spent five years with Continental Resources.

Muncrief’s return to Farmington is anticipated by many who know him.

Bill Standley, former mayor of Farmington and now a municipal judge, remembers Muncrief as a man of, “intelligence and integrity,” he said. Standley said if he were a member of a board of directors of a major oil and gas company, he would invest in a chief executive officer of Muncrief’s caliber.

Muncrief recently made news in southwestern Pennsylvania when he announced WPX has decided to divest itself of its Marcellus Shale assets. WPX has approximately 160 active wells in dry gas areas in southern Pennsylvania, and has been drilling in the Marcellus since 2010. Muncrief and the board of directors of WPX decided to focus on New Mexico and two other areas of the county in which WPX has assets. Colorado, which has natural gas liquids, and North Dakota, along with New Mexico, where the company drills for oil, offer a positive return on investment, a spokesman said of the three states.

In addition to Muncrief, speakers expected to participate in the conference include Ken McQueen, also of WPX; David Martin, Secretary of the New Mexico Energy, Minerals and Natural Resources Department; Dr. Dan Fine, research associate for the New Mexico Center for Energy Policy/ New Mexico Institute of Mining and Technology; Steve Henke, president of the New Mexico Oil and Gas Association; and Marita Noon,executive director of Citizens’ Alliance for Responsible Energy, a lobby group funded by New Mexico oil and gas industry interests, and  the executive director for Energy Makes America Great Inc.

Other speakers have been invited to participate in the conference and those names will be released when they are confirmed.

This is the second San Juan Basin Energy Conference. The first one, held in March of 2013, attracted more than 450 people attending.

“The tremendous response from the leaders in the industry to our first conference, and the success we enjoyed from it, has set the bar pretty high for the 2015 conference,” said Randy Pacheco. “The cost of oil, the direction and future of the oil and gas/energy industry, and the vision of industry leaders will make this conference, just like the one in 2013, an event that will bring together people who have invested their time, experience and talents to an industry that remains a backbone of our economic foundation.”

For additional information, visit the conference web site at www.sanjuanbasinenergy.org; or call 505-566-3676.

Event Location

Henderson Fine Arts Center

Link

Encana announces multi-million dollar drilling plans for 2014 in the San Juan Basin


http://www.daily-times.com/farmington-business/ci_24615895/encana-announces-multi-million-dollar-drilling-plans-2014

Encana announces multi-million dollar drilling plans for 2014 in the San Juan Basin

By Leigh Black Irvin The Daily Times

FARMINGTON — Encana Corporation announced earlier this month a new company strategy and vision, with much of that strategy being focused on the San Juan Basin where it plans to invest hundreds of millions of dollars in new oil and gas production beginning in 2014.

The announcement has prompted a flurry of speculation among those in the local oil and gas industry that the increased drilling will begin immediately after the first of the year.

In a Nov. 5 news release, the Calgary-based Encana outlined key points of its strategy, the first of which states that it will “focus its capital investment on five oil and liquids-rich resource plays in North America.”

The release goes on to state that Encana will “invest approximately 75 percent of its 2014 capital into five high return oil and liquids-rich plays: the Montney, Duvernay, DJ Basin, San Juan Basin and Tuscaloosa Marine Shale.”

In dollar amounts, this translates to 350 million to 400 million dollars in capital that Encana plans to invest in the San Juan Basin in 2014, said Encana spokesman Doug Hock.

“We will run two to four rigs in the area where oil and liquids are,” said Hock. “Our strategy is to develop oil and natural gas liquids plays in the Mancos Shale over the course of 2014.”

Hock said that to date, Encana has drilled some 20 wells in the Basin at a rate of approximately one well a month, and the increased production plans are a result of the positive drilling performance already seen in the basin, as well as economic conditions that make drilling in this area beneficial to the company. For more of the article use this link–> http://www.daily-times.com/farmington-business/ci_24615895/encana-announces-multi-million-dollar-drilling-plans-2014

Industry Touts Major Mancos Play Estimates point to 6B barrels of recoverable oil


By Emery Cowan Herald staff writer ecowan@durangoherald.com

FARMINGTON – The San Juan Basin could be headed toward a renaissance in natural-gas and oil drilling if rosy expectations touted by industry officials at Monday’s San Juan Basin Energy Conference hold true.

“In the southern part of the basin, the Mancos play has the potential to revitalize declining San Juan Basin oil production and also has a tremendous amount of future gas production in the northern part of the basin,” said Ron Broadhead, a principal petroleum geologist with the New Mexico Bureau of Geology and Mineral Resources.

The conference, which drew about 500 attendees from across the nation to San Juan College, was the first to have a dedicated focus on the Mancos Shale, which stretches across the northwestern part of New Mexico and into southwestern Colorado.

After years of declining production in the San Juan Basin, companies are eyeing the shale play for both natural-gas and oil potential because of advances in hydraulic fracturing and horizontal drilling technologies that have helped operators unlock shale gas and oil across the nation.

“It’s reasonable that the Mancos Shale could be a really, really good shale play in the San Juan Basin,” said Darryl Williams, the vice president of subsurface for BP North America Gas Exploration and Production Co.

Other presenters were more direct.

“I’m bullish on the Mancos, we’ve already seen a number of wells drilled that are economic,” said T. Greg Merrion, president of Merrion Oil and Gas. “I’m looking forward to this next boom.”

With natural-gas prices hanging around $4 per thousand cubic feet, many conference speakers focused on the oil-producing window of the shale play located in the southern San Juan Basin.

The play has been estimated to contain up to 60 billion barrels of oil, about 10 percent of which is expected to be recoverable, according to estimates by Encana and Daniel Fine, a senior energy analyst with the New Mexico Center for Energy Policy.

The possibility of a resurgence had some speakers proclaiming the beginning of a new era of economic prosperity for northwest New Mexico.

“These are happy times again,” former U.S. Senator Pete Domenici said. For more of the article go to —> http://durangoherald.com/article/20130318/NEWS01/130319558/0/FRONTPAGE/Industry-touts-major-Mancos-Shale-play

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