BP Leases Land

BP has leased 84,000 acres of land in the Utica/Point Pleasant shaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. formationA body of earth material with distinctive and characteristic properties. in northeast Ohio for oil and gas production.  Financial terms of the deal with the Associated Landowners of the Ohio Valley were not disclosed.

With much talk going around about Marcellus ShaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock.ShaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. is one of the most highly productive types of sedimentary rock whose density provides tight stores forhydrocarbon reserves below. Marcellus ShaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. is a rock formationA body of earth material with distinctive and characteristic properties. running through about two-thirds of Pennsylvania, and areas of New York and West Virginia. Geologists estimate that there is a large enough natural gas reserve within the shaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. to power the United States for one to eight years. drilling, civilians might be wondering the importance of the Utica ShaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. and how it is related.  The Utica ShaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. is a rock unit located a few thousand feet below the Marcellus ShaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock.ShaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. is one of the most highly productive types of sedimentary rock whose density provides tight stores forhydrocarbon reserves below. Marcellus ShaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. is a rock formationA body of earth material with distinctive and characteristic properties. running through about two-thirds of Pennsylvania, and areas of New York and West Virginia. Geologists estimate that there is a large enough natural gas reserve within the shaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. to power the United States for one to eight years. (and is thicker than the Marcellus) and many oil companies have drilled.  It has potential to become a huge resource for natural gasA naturally occurring mixture of hydrocarbon and non-hydrocarbon gases beneath the earth’s surface – often in association with petroleum..

Ohio is hitting it big with shaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. related deals this month as Chesapeake Energy Corporation recently announced a $900 million project for gathering, compressionNatural gas is compressed during transportation and storage. When being transported through pipelines, and when being stored, gas is compressed to save space. Pipelines have compressing stations installed along the line (one about every 100 miles) to ensure that the gas pressure is held high while the gas is being transported. and processing of natural gasA naturally occurring mixture of hydrocarbon and non-hydrocarbon gases beneath the earth’s surface – often in association with petroleum. and natural gasA naturally occurring mixture of hydrocarbon and non-hydrocarbon gases beneath the earth’s surface – often in association with petroleum. liquids.

“We actually think this has the opportunity to be very good for Ohio, very good for BP,” said Tim Harrington, regional president of BP North America Gas. “One of the things that we quite like was the potential for the liquids-rich gas opportunity,” he said.

BP was driven to the shaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. because it offers dry gasContains low amounts of condensable compounds making it more “pipelineUnderground or surface tubing or piping that is installed across states, countries and continents to deliver fuel. New pipelines are being built in Pennsylvania and New Jersey to transport natural gas, liquid natural gas, and water to make gas production more economical. ready.” Gas is considered to be “dry” when it is composed of almost entirely methaneMethane, commonly known as natural gas is the most common hydrocarbon gas. It is colorless and naturally odorless, and burns efficiently without many by products.. and wet gasNatural gas that contains natural gas liquids, which are heavier than gaseous methaneMethane, commonly known as natural gas is the most common hydrocarbon gas. It is colorless and naturally odorless, and burns efficiently without many by products.. Some of these, such as propane, butane, pentane, hexane, and heptane, may come out of the well in liquid form or may need to be processed. The Marcellus shaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock. gas in Washington County has been described as a wet gas. Natural gas liquids are considered valuable by-products of natural gas processing. as well as heavier liquid gas.  The company will sign up leaseholders over the next 6 months, then appraise how much oil and gas are in the shaleA fine grained sedimentary rock composed mostly of consolidated clay or mud. Shale is the most frequently occurring sedimentary rock..

BP actively drills across Texas, Oklahoma, and Arkansas.