Chief Oil & Gas
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| Company type | Private |
|---|---|
| Industry | Oil and Gas |
| Founded | 1994 |
| Headquarters | Dallas, Texas, USA |
Key people | Trevor Rees-Jones, President and Chief Executive Officer |
Number of employees | 70 |
| Website | www.chiefog.com |
History
Chief Oil & Gas was founded in Dallas, Texas in 1994 by President and CEO Trevor Rees-Jones. Its primary holdings of natural gas were developed in the core areas of the Barnett Shale in Tarrant County, Denton County and Parker County.
In 1999, new technology in horizontal drilling and hydraulic fracturing along with rising gas prices made the Barnett Shale, an unconventional resource for natural gas, more economical. Chief rapidly expanded its leasehold position and drilling and production program in the Barnett Shale to become the fields second largest producer.
After selling, in 2006, the majority of its leasehold and production assets to Devon Energy and its pipeline and midstream assets to Crosstex Energy for $2.63 billion, Chief entered the Marcellus Formation shale gas play in Appalachia, with its primary leasehold position in Pennsylvania, West Virginia and New York.[1][2] Chief drilled their first Marcellus Shale gas well in Lycoming County, Pennsylvania in Watson Township in the fall of 2007. The company also has a leasehold position in the Utah Thrust Belt in central Utah with development expected to begin in 2009.
Technology
Chief Oil & Gas develops natural gas from shale gas plays in the United States. Advances in the technology of 3-D seismic imaging, drilling and completion technology, including hydraulic fracturing techniques enables gas to be produced from the Barnett Shale and Marcellus Shale.
Technology has also helped producers reduce the size of the footprint on the environment. The size of a drill site today has been reduced significantly compared to 50 years ago. Horizontal drilling has made a significant contribution to reducing the industry's footprint on the environment. Horizontal drilling technology enables operators to reach their target site and avoid environmentally difficult areas. It also allows multiple wells to be drilled from the same pad site which not only reduces the environmental impact, but the cost to drill.
External Links
- Chief Oil & Gas Homepage
- History of Appalachian Basin
- Chief Sells Gas to Devon, Pipes to Crosstex
- Texas Drilling Company Hopes Well will be Productive
References
- ^ Thompson, David (2007-11-06). "Betting on profits". Williamsport SunGazette. Retrieved 2008-04-05.
- ^ Gebhart, Rob (2001-08-12). "Texas company to search for gas in Somerset County". Daily American. Retrieved 2008-04-02.