In an effort to accelerate shale gas development, Realm Energy and Halliburton will aggressively continue the evaluation of high potential shale deposits throughout Europe and select emerging countries.
In early 2009, Realm Energy began collaborating with Halliburton Consulting on a global evaluation of shale plays with potential for natural gas and oil production. Shale deposits are a proven and significant resource in North America and an emerging unconventional resource in other areas of the world. With an initial focus on Europe, Realm Energy and Halliburton successfully selected eight discrete sedimentary basins in seven European countries, identified key prospect trends and targeted a substantial amount of petroleum and natural gas leases for acquisition.
"Following our evaluation, Realm Energy is pleased to inform its shareholders that the Company is in the process of acquiring large contiguous tracts of land over significant shale formations," said Realm Energy Chairman Craig Steinke. "As we enter the exploration and development phase of our strategy, we can rapidly transfer Halliburton's extensive shale knowledge and modify best practices from all North American shale plays to continental Europe and beyond."
Going forward, Realm Energy will access Halliburton's global infrastructure and partnerships, leading edge solutions and customized strategies for optimizing value from each specific shale formation, with the highest environmental standards.
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