By Jeff Alexander
Energy firms from California to Canada are making major bets on natural gas locked in Michigan’s shale formations. The major players, according to Oil & Gas Financial Journal, include:
Encana Corp.: Based in Calgary, Alberta, Encana is the biggest natural gas producer in Canada. Encana spent $37 million to acquire 250,000 acres of mineral rights in the Utica/Collingwood formation. Encana drilled the first two hydraulically fractured wells into the Utica/Collingwood formation. Those wells are located near Lake City and Indian River.
Chesapeake Energy: The Oklahoma-based company is one of the biggest independent natural gas producers in the United States. Chesapeake spent $325 million to lease 75,000 acres of mineral rights in the Utica/Collingwood formation. The company later nullified some of those leases, triggering lawsuits by property owners.
Breitburn Energy: The California-based company has acquired 90,000 acres of mineral leases in the area above the Utica/Collingwood formation.
Chevron Corp.: The California-based company is one of the world’s largest energy companies. Chevron recently acquired Atlas Gas & Oil, which had acquired 70,000 acres of mineral rights in the Utica/Collingwood formation. Atlas was the largest operator of natural gas wells in northern Michigan’s Antrim Shale, with 2,400 wells.
Additional information on hydrofracturing and the energy industry can be found at: