Chainman Shale - Nevada/Utah Natural Gas Field/ Oil Field - Chainman Shale Map

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Chainman Shale - Nevada & Utah - Oil & Natural Gas Field

Chainman Shale Counties - White Pine County, NV - Eureka County, NV - Nye County, NV - Lincoln County, NV - Possibly even Lander County, NV; Juab County, UT - Millard County, UT - Beaver County, UT

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What is the Chainman Shale?  The Chainman Shale is a formation potentially rich with Oil & Natural Gas located in Nevada & Utah and is part of the Big Sand Spring Valley.  The Chainman Formation is a new discovery that has companies scrambling for mineral rights leasing.  Land leasing is increasing in the Eastern Central section of Nevada, specifically, Nye County.

The Chainman Shale sits off the Rockies which extends down from Alaska.  The only public company known to be targeting the Chainman Shale at the moment is Cabot Oil & Gas (COG).  The Chainman shale is said to have some of the richest shale rock characteristics of oil in the country ( and maybe even in the world ).  This rock is organically mature and up to 2100 ft thick.  The only problem is the major oil might be located at 10,000 - 25,000 ft under ground which would be expensive to drill.  In the shallower parts of the Chainman shale, its costs about 2-2.5 million per well.  Companies are constantly gaining better technology which helps reduce the risks of dry holes as well cost reductions.  With the price of oil rising, its only a matter of time before companies starting getting serious about tapping Nevada's rich oil potential.

The Railroad Valley Field is located 10-15 miles away and has hit oil which was part of the Chainman Shale.  This field has produced more then 40 million barrels of oil in it's history.  Another field to the east of the chainman shale is the Covenant Oil field which is located in Utah.

Chainman Shale 2013 - The Chainman Shale Formation could be heating up again in 2013.  There is talk by a few exploration and production companies of a hot new area in Northeast Nevada.  Could this be the Chainman shale or another big location?  Noble Energy (NE) estimates 200+ million barrels of oil is located here.

Chainman Shale Map
Chainman Shale Map

Companies Drilling in the Chainman Shale - Chainman Shale Stocks

Cabot Oil & Gas Corp COG - Cabot Oil & Gas has 72,000 net acres in the Chainman Shale - Nevada - Cabot recently drilled a rank wildcat in Nevada for the Chainman Shale. The Chainman was encountered shallower in the section than anticipated, and the well will be abandoned. "Our play in Nevada is made up of three distinct areas," stated Dinges. "We will take what we learned and shoot some additional seismic before we attempt the next well as there is no imminent lease expiration."

U.S. Oil and Gas PLC - Results, including new reflective seismic data, show prospective reserves could exceed 25 million barrels in USOIL's Eblana Phase 1 Section 2 North, 5% of the lease area

    *   Results, including new reflective seismic data, show prospective reserves could exceed 25
        million barrels in USOIL's Eblana Phase 1 Section 2 North, 5% of the lease area
    *   Analysis of the Reflective Seismic for Eblana Phase 1 Section 2 North indicates that the depth
        ranges for the target zones are 4000-5000 feet for shallower targets and 5000-7,700 feet for the
        deeper target
    *   The target depth ranges identified by the Reflective Seismic results are also extremely
        consistent with the depth range of several of the oil producing areas in adjacent Railroad Valley,
        including Trap Springs and Grant Canyon

CEO  Brian  McDonnell  says, "We are highly encouraged to see Reflective Seismic results  confirm  our three  drilling  targets  and allow us to estimate potential reserves.  These results  are  especially exciting  as  we  have  surveyed  only  5% of our acreage in  detail.   As  the  reservoirs  could  be continuously replenished by hydrocarbons sourced from the downdip Chainman shale, as is the  case  for some producers in Railroad Valley, we could be looking at large reserves."

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