Refined Shale Gas today announced that it will provide updates on all drilling projects as a result of the decline in commodity prices due to COVID-19.
Online PR News – 30-April-2020 – SAO PAOLO – Refined Shale Gas are currently undertaking an extensive review of all of its producing areas to determine the economic or operational justification for continuing to drill for oil and gas at all project sites.
Refined Shale Gas are also evaluating the economic justification for proceeding with production, with prices of oil and gas dropping and with the demand dropping too, all drilling Refined Shale Gas had planned for 2020 is also being reevaluated.
Refined Shale Gas’ Chief Operations Officer, Mr. Gabriel Oliveira commented on the project updates saying “Currently, this volatile market and price environment will be a difficult challenge to many in our industry, including ourselves, but we need to take into account all aspects of our projects.”
“Our three main projects in the Ceara, Espirito Santo and Santos Basins are all operating at 50% production. We are currently forecasting a product mix for remainder of 2020 production as approximately 49% natural gas, 38% oil and 31% natural gas liquids. We believe that our strong company structure for the rest of 2020, even in this volatile market, puts us in a position to take advantage of the added stresses in this sector and continue to thrive,” added Gabriel Oliveira, Chief Operations Officer of Refined Shale Gas.
About Us - Refined Shale Gas
Refined Shale Gas is an emerging and innovative natural gas and oil exploration company headquartered in Sao Paulo, Brazil. We have been hugely successful in establishing and developing operations in promising locations based on expert estimations from geological exploration and efficiently extracting resources to meet global demand.
We understand that establishing and maintaining a successful natural gas and oil production company is challenging. That’ why we employ experts in key areas at the top of their field, from geologists and sedimentologists to scientists and operational management, ensuring that we can identify promising locations based on precise estimations, efficiently extract resources and maintain high levels of productivity.
At Refined Shale Gas, we continually innovate, with great focus placed upon research and development of new technology to assist us in all areas of identification, extraction and operational efficiency. With global demand for energy increasing, but with supplies limited, we constantly seek to discover new opportunities to meet demand.
We have implemented environmentally responsible practices, ensure the health and safety of our employees in all locations with stringent rules and regulations, and work with local communities in which we operate for mutual benefit.