http://www.naturalgasintel.com/topics/101-fayetteville-shale
We had these headlines a couple of months ago:
BHP’s $50 billion shale oil blunder
23/8/2017
BHP slapped $US4.75 billion ($6 billion) down on the table to buy the rights from Chesapeake Energy to around half-a-million acres of prospective shale gas reserves at Lafayette in Arkansas.
http://www.abc.net.au/news/2017-08-23/bhp-billion-dollar-shale-oil-blunder/8832698
‘They went too hard’ – BHP’s retreat wins plaudits
22/8/2017
Mr Mackenzie conceded BHP’s entry into the onshore US shale industry was “poorly timed, we paid too much” for the assets.
“We would like to get on with the exit from shale,” he said, adding that BHP would “be patient to make sure we restore value for shareholders”.
http://www.smh.com.au/business/mining-and-resources/they-went-too-hard–bhps-retreat-wins-plaudits-20170822-gy1jfq.html
This post’s focus is the Fayetteville shale gas in the US State of Arkansas. The following map is from a BHP investor presentation in February 2011, shortly before BHP bought shale gas acreage from Chesapeake in March 2011.
Fig 1: Location of the Fayetteville shale
Let’s hit the road, on route 65 from Conway (Arkansas) towards Greenbrier where many new subdivisions were built like this one:
Fig 2: Testifying to the newly found wealth – as long as it lasts.
Fig 3: BHP gas wells in Fayetteville
Fig 5: Fayetteville shale gas production up to July 2017
