Locked in shale, riches beckon

Energy services companies among those eager to tackle natural gas work

By BRETT CLANTON Copyright 2008 Houston Chronicle

Oil and natural gas exploration companies aren't the only ones licking their chops at emerging shale formations in Texas and other states that may hold vast untapped supplies of natural gas.

Major oil field services firms, including Schlumberger, Halliburton and Baker Hughes, also see big opportunity and are jockeying to get their share of the work.

To those firms, the complex shale formations could bring a windfall of new contracts that call on specialized technologies, which have become indispensable in these frontier areas.

Perhaps nowhere is that truer than in the Haynesville Shale play, a major discovery in northwestern Louisiana and East Texas. Not only is it estimated to be the nation's largest natural gas field and the fourth-largest in the world, it may be among the most difficult of its kind to unlock, creating high demand for sophisticated service work.

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