If you listen to the Natural Gas Industry propaganda, or accept the lies being spoon fed us by the elected politicians, America needs shale gas production to END OUR DEPENDENCE on FOREIGN OIL. Now, setting aside the fact that we trying one fossil fuel dependence for another, one has to ponder a very serious question..."If we need our SHALE GAS to end our dependence on foreign oil, why are the Natural Gas companies being allowed to go out and buy leases for vast tracts of land, and turn around and sell them to FOREIGN COMPANIES who want to take our gas, and SHIP IT OVERSEAS!
Below are major shale gas and oil acquisitions: APRIL 2011:
-- Marubeni Corp (8002.T) will pay Marathon Oil Corp (MRO.N) about $270 million for a 30 percent stake in a U.S. shale oil project. [nWNAB2649] FEBRUARY 2011
-- PetroChina (0857.HK) pays Encana Corp (ECA.TO) $5.4 billion for half of a shale gas project. [ID:nN09296031]
-- BHP Billiton (BHP.AX) pays Chesapeake Energy Corp (CHK.N) $4.75 billion for gas reserves in the Fayetteville Shale in Arkansas. [ID:nLDE71L1M0] DECEMBER 2010
-- South Africa's Sasol (SOLJ.J) pays $1.03 billion for a half share in Talisman Energy Inc (TLM.TO) shale gas property. [ID:nLDE6BJ04G] OCTOBER 2010
-- CNOOC Ltd (0883.HK) (CEO.N) agrees to pay Chesapeake Energy $1.08 billion in cash for one-third of its Eagle Ford shale in South Texas. [ID:nN10263769] JUNE 2010:
-- India's largest listed company Reliance Industries (RELI.BO) will invest $1.36 billion in the U.S. shale gas assets of Pioneer Natural Resources (PXD.N). [ID:nSGE65N06C] MAY 2010
-- Royal Dutch Shell (RDSa.L) says it will pay $4.7 billion cash to buy privately held East Resources Inc, which controls 650,000 net acres (2,600 square kilometers) in the Marcellus Shale. [ID:nLDE64R0AX] APRIL 2010:
-- British gas producer BG Group (BG.L) said it would pay $950 million to buy a 50 percent interest in shale gas assets in Appalachia from EXCO Resources (XCO.N). FEBRUARY 2010:
-- S.Korea's KOGAS (036460.KS) invests $1.1 billion in developing Encana Corp's natural gas fields. [ID:nTOE61R013]
-- Canada's Progress Energy Resources Corp (PRQ.TO) agreed to buy certain northeast British Columbia Foothills assets for about C$390 million ($366.2 million) from Suncor Energy (SU.TO). [ID:nSGE6180KX] DECEMBER 2009:
-- Exxon Mobil Corp (XOM.N) announced its plan to buy XTO Energy Inc XTO.N for about $30 billion in stock. XTO's resource base is the equivalent of 45 trillion cubic feet of gas and includes shale gas, tight gas, coal bed methane and shale oil. [ID:nN14126206]
-- Ultra Petroleum Corp (UPL.N) said it would pay about $400 million to an unnamed private company to buy 80,000 net acres in the burgeoning U.S. Marcellus Shale region, giving it about 250,000 net acres and a potential for 1,800 net drilling sites. [ID:nSGE5BK0EU] NOVEMBER 2009:
-- Denbury Resources Inc (DNR.N) said it would buy Encore Acquisition Co for $3.2 billion, creating a company with 426 million barrels of oil equivalent in proved reserves. [ID:nN01400606]
The acquisition would allow Denbury to leverage its enhanced-oil-recovery business into Encore's properties in Wyoming, Montana, and North Dakota, and would give it a large stake in the Bakken shale on the U.S.-Canada border. JUNE 2009:
-- British gas producer BG Group paid Dallas-based Exco Resources Inc (XCO.N) $1.3 billion for an interest in shale gas resources in Texas and Louisiana. [ID:nLU618520]
The companies said each would own 50 percent of a venture to which EXCO is contributing 120,000 acres of land in the Haynesville shale gas area and associated gas infrastructure. MAY 2009:
-- Talon Oil & Gas LLC bought 60 percent of Denbury Resources Inc's (DNR.N) natural gas assets for $270 million.
-- Independent oil and gas company Quicksilver Resources Inc (KWK.N) agreed a joint venture with Italian energy giant Eni (ENI.MI) to develop its Barnett shale properties in Texas. [ID:nBNG161361]
As part of the deal, Eni agreed to buy a 27.5 percent stake in Quicksilver's Alliance leasehold interests in the Fort Worth basin for $280 million. MARCH 2009:
-- Independent Canadian oil exploration firm TriStar Oil & Gas and Crescent Point Energy Trust agreed to buy Talisman Energy Inc's lands in the prolific Bakken shale region of Saskatchewan and Montana for C$720 million ($567 million).