So, it turns out The Wall Street Journal doesn’t have a section in their fine publication devoted to coated components. But here’s the thing – what we do, what you do, it’s a BIG deal. So we’re not going to quit our day jobs, but we monitor what’s going on and post it here on our site. Make sure to bookmark this page, visit often and tell your friends. This is your hub for news and updates for the industry.
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Egypt recently signed its first contract to participate in fracking and plans to drill three horizontal wells as deep as 14,000 feet in Western Sahara fields. Official: Egypt Sets Price for Shale Gas at $5.45 per MMBTU By: Ehab Farouk and Shadi Bushra CAIRO, March 9 (Reuters) Egypt has set the price of shale gas expected to be extracted from a recent concession to foreign firms at $5.45 per million British thermal units (mmBtu), an official at the oil ministry said on Monday. Egypt signed its first contract to extract gas by hydraulic fracturing, or fracking, in a deal with Apache and Shell Egypt in December that includes investments of $30-$40 million, the oil ministry said at the time. The shale gas agreement signed with Shell Egypt and Apache Corporation provides for a price of $5.45 per mmBtu of gas extracted, the official, who declined to be identified, told Reuters. To read the rest of this article, visit Rigzone.