Shale Gas Investment Guide vol. 6 by Cleantech Poland LLC

SHALE GAS

investment

GUIDE GEOLOGY LOW TOC, HIGH CLAY

WINTER 2013

UKRAINE

OPERATIONS UPDATE

EU 27

CONCESSIONS LISTING

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4 | Shale Gas Investment guide | Winter 2013

High Performance Products and Services – OCTG – Premium Connections – Accessories – Line Pipe – Coiled Tubing – Field Services

Tenaris provides field service support in the Eagle Ford shale for a local operator.

Integrated Solutions for Unconventional Applications. Tenaris understands that every shale play is different Baltic Basin Gdansk

and every customer‘s challenge is unique. Providing customized technology and reliable product quality

Lublin Basin

to minimize risk and maximize efficiency, we offer

Lublin

integrated product and service solutions for every

Silcotub

stage of shale operations. Our TenarisHydril premium connections deliver exceptional torque, bending

Dalmine Ploiesti

and compression for challenging extended reach wells. Our Dopeless ® technology offers additional operational and environmental benefits. Tenaris’s regional field services and technical assistance

■ Shale Plays ■ Service Centers

■ Manufacturing Locations — Delivery to the wells

teams are available 24/7, backed by global networks of R&D, manufacturing and service centers.

www.tenaris.com

www.cleantechpoland.com

27-28 November 2013 EXPO XXI Warsaw

Our clients

Apex Contracting provides a range of energy services, including seismic, construction and logistics for water, waste and related oilfield services. In Poland, Apex provided permitting and compensation for ION Geophysical on Poland SPAN. Apex was responsible for well pads, sound walls and roadway construction, working for clients such as Marathon Oil, Chevron and Halliburton. In Iraq, Apex is providing construction services in Kurdistan for HESS.

Bireta provides technical translation services up to several thousand pages per month. A project management team guides translators and proofreaders in the construction, process control, electrical, mechanical, natural gas and information technology sectors. Projects include FGD Plants, wind farms, power units, CFB boilers, Combined Cycle Power Plants, CCS plants, NOx denitrification plants, and the LNG Regasification Terminal.

C.H. Robinson is a third party logistics (3PL) providers offering multimodal transportation services and logistics solutions. In Poland, C.H. Robinson works with operators and service companies to manage air and ocean freight forwarding, customs brokerage, intra-continental distribution, documentation, and regulatory requirements.

Hays is the world’s leading company in recruiting qualified, professional and skilled work. Today, with more than 10 specialism, 190 employees and 8 offices, we are proud to have grown into the largest specialist permanent recruitment company in Poland. Hays Energy team is dedicated to serve Energy, Oil and Gas sectors and since its launch in 2007, the team has covered over 200 placements for middle and top management functions.

The Poland Shale Coalition (PSC) is an industry organization open to anyone which advocates for the safe and environmentally responsible production of oil and gas. PSC was founded by Cleantech Poland to bring the oil and gas operator and service companies into a dialogue with local communities. Founding members are welcome. polandshalecoalition@cleantechpoland.com

SSW Law Firm provides legal services to oil & gas and mining entities, concerning all aspects of their operations. SSW’s experts represent entrepreneurs in concession proceedings, environmental proceedings, investment proceedings, JV and M&A. SSW has advised industry leaders during competitive concession proceedings, in relation to natural resources available in Poland: hydrocarbons, metals, black coal, lignite, potash and dolomites.

P Conf

TECH-POMP SERWIS was founded to provide best quality services for Oil & Gas Industry, as an extension of Tech-Pomp LLC - pump distributor and pump unites manufacturer, operating on European market since 1991. We supply liquid transfer installations including water transfer to support fracking, pump sets for various applications, customized manifolds, pipes and fittings, according to specific well site arrangements.

Linde Gaz Polska is the company specialized in the production and distribution of industrial gases, including the delivery of integrated gas solutions. Linde Gaz Polska is the subsidiary of The Linde Group, world-leading gases and engineering company with around 62,000 employees in more than 100 countries worldwide and has been in Poland since 1993.

For contact information please visit the directory from page 72

6 | Shale Gas Investment guide | Winter 2013

Creating Solutions for Shale gas Operations Veolia Water Solutions & Technologies helps Shale Gas producers to reduce water and waste management costs and minimize environmental risks. Veolia has a wide variety of flexible and proven processes and technologies available for pretreatment and treatment of flowback, produced water and formation water. These technologies focus on waste reduction, water recycle and reuse, and ZLD (Zero Liquid Discharge). Experience in USA and 20 years in Poland.

Premium ference Floor

PAVILION

3 2

28 29

32 25

57 44 37

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56 55

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53 52

49 50

Shale Cinema

www.cleantechpoland.com

opinion

By wojciech kosc

Longing for

the Ukrainian Steppe Poland would love to associate shale with the patriotic underpinning of energy independence, but has failed to deliver. Ukraine might be on course to make it happen. Ukraine is a country straddling East and West. Its energy infrastructure is inextricably tied to Russia, and Kiev is regularly in trouble with Moscow over gas transit to Western Europe. An anecdote from the Polish ministry of foreign affairs has it that diplomats at work in Ukraine would be dismissed if they expressed any sentimentalism for the parts of Ukraine that once belonged to Poland. This would be bad for the mutual relationship and Poland’s ambitions to attract Ukraine closer to the European Union. What Ukraine has is theirs to have. The arrest of Yulia Tymoshenko, the former prime minister, over alleged shenanigans in gas deals, has soured the country’s relationships with the European Union. Former Polish president Aleksander Kwaśniewski is on a mission in Ukraine to help solve the Timoshenko controversy: get her out of jail to an EU hospital in return for fasttracking the process of integration of Ukraine with the European Union, of which Poland is Ukraine’s most vocal ally. It’s ironic that Tymoshenko’s release is being championed by the EU, who seems to desire closer Ukrainian integration, given Tymoshenko was jailed for allegedly doing the opposite: moving the country closer to Russia through gas deals.

The Ukrainian president wants the country self sufficient for gas and maybe an exporter.

8 | Shale Gas Investment guide | Winter 2013

Since she was jailed, Ukraine has decided to go ahead and sign a trade and political association agreement with the EU. And two recent energy deals go right to the core of the difficult relationships of Ukraine and Russia, with shale gas in the center. The decision to sign the agreement with the EU didn’t go down well with the Kremlin, which waged a sort of a war with Ukraine, banning Ukrainian products and intensifying border controls, adding that Ukraine may face a financial catastrophe if the agreement goes ahead. On top of getting closer with the EU, the Ukrainian government in 2013 signed two energy deals - reported to be worth USD 10 billion each - for unconventional hydrocarbon exploration with majors Royal Dutch Shell and Chevron. The Ukrainian president publicly expressed hope that once and if shale gas does from Ukrainian deposits - estimated to hold close to three trillion cubic meters of gas, one of the largest potentials in Europe - Ukraine will be self sufficient for gas and maybe even an exporter. Polish diplomats in Kiev have surely been reporting to Warsaw about these recent developments. As situation in Ukraine is unfolding much to the favor of Poland’s geopolitical strategy of pulling Kiev to the West in the tug-of-war with Russia, the irony is that it owes in part to Ukraine’s decision to bet on shale gas, something that Poland seems to have been negligent, despite the energy independence rhetoric of just a few years ago.

investment

LETTER

Shale Gas

Open

Guide

For

editor in chief Wojciech Kos´c´

Business

Publisher Parker Snyder

art directOR jacek kultys

Graphic designer Ola Forys´

Analyst

tobiasz adamczewski

Key accountS MAJA SOBIESZCZAK

WRITERS

marek kilia grzegorz kuS paweł poprawa marcin smietana

Dear Colleague, In 2013, Ukraine jumped onto the shale map. Two events of significance happened:

PHOTOGRAPHY

Early in 2013, Royal Dutch Shell signed a deal that comprised nearly 8,000 square kilometers in the east - the Yuzivska field. Then in the first week of November, Kiev signed a $10 billion production-sharing agreement with Chevron. The plan aims for exploration and production from the Olesska field in the west of Ukraine, an area that comprises some 6,300 square kilometers.

Published by

As the Financial Times reported, the 2004 Orange Revolution, which briefly installed a pro-western government, did not then open doors to foreign owned oil companies. But the current president, Viktor Yanukovych, has turned to foreign owned oil companies to provide the muscle and know-how to commercialize unconventionals, and offshore resources as well, via an ExxonMobil led consortium.

iStockphoto.com Photogenica photopin krzysztof M. Ratschka Shutterstock Szymon Szczes´NIAK

Cleantech Poland LLC Ul. KRUCZA 51/31 00-022 Warsaw, Poland

Editorial contact Wojciech@CleantechPoland.com (+48) 602 458 099

Advertising contact

PARKER@CleantechPoland.com

(+48) 517 469 881

General requests info@CleantechPoland.com

Poland, on the other hand, has managed to shun foreign investors and has yet to see a state owned company in Poland in joint venture with a foreign owned operator. Ukraine seems quite willing to let anyone to the table. Provided they play by the government’s rules. Kind Regards,

printeR

Drukarnia Beltrani

www.cleantechpoland.com

Contents 26

OPERATIONS UPDATE: Everyone seems headed to ukraine

p/8

Op-ED Longing for the Ukrainian STEPPE

p/9

LEtter from the PUBLISHER

p/12 Publication Partners 10 | Shale Gas Investment guide | Winter 2013

p/15

INDICATORS Wells to date Market overview Analystâ&#x20AC;&#x2122;s comment Commodities pricing Share prices

CO N T E N T S

p/20

TRENDING p/2 6

OPERATIONS UPDATE

p/32

TAXATION OF SHALE IN EUROPE p/3 4 POLAND’S GEOLOGY We know more now

GEOLOGICAL OVERVIEW BY PAWEŁ POPRAWA

p/38 EU PROPOSES new EIA regime p/4 0

FACES p/5 1

WHO’S WHO POLAND UK GERMANY

p/72

Services directory p/100

Unconventional HYDROCARBON LICENSING IN THE EU-27 Data set

p/112 Pictorial Launch party

*Advertorial www.cleantechpoland.com

| 11

Partners

To become a partner for the magazine, please contact the publisher

The American Chamber of Commerce (AmCham) is a business organization that serves and promotes its member companies. AmCham fosters positive relationships with the government and promotes the free market spirit for the benefit of business. Ul. Emilii Plater 53, 00-113 Warsaw www.amcham.com.pl

Cleantech Poland is a consultancy for sustainable business. Cleantech Poland provides services to upstream oil and gas. The Shale Gas Investment Guide is part of a portfolio that includes the magazine Cleantech. ul. Krucza 51/31, 00-022 Warsaw info@cleantechpoland.com

DTZ is a property services company, providing occupiers and investors with end-to-end property solutions, global and local market knowledge, forecasting and trend analysis. ul. ZĹ&#x201A;ota 59, 00-120 Warsaw info@dtz.pl

Poland Shale Coalition is an industry organization open to anyone. The Poland Shale Coalition, founded in 2013, aims at education and outreach. Founding members of the Poland Shale Coalition receive priority outreach in their concession areas. ul. Rzymowskiego 53, Warszawa, 02-697 PolandShaleCoalition@cleantechpoland.com

PwC PwC provides oil and gas companies with services in assurance, advisory and tax & legal. A global services company, PwC has been in Poland for 20 years and counts many of the largest oil and gas companies as clients. Al. Armii Ludowej 14, 00-638 Warsaw www.pwc.pl

SSW SSW provides comprehensive tax and legal advisory services. SSW, whose main practice areas are energy and natural resources, advises investors on the business implications of the governmentâ&#x20AC;&#x2122;s royalty proposal. Rondo ONZ 1, 00-124 Warsaw www.ssw.pl

12 | Shale Gas Investment guide | Winter 2013

www.pwc.pl

PwC Your trusted oil & gas and chemical advisor

For years, we support our clients with knowledge and market experience by providing business advisory, tax and legal advisory, audit and accounting consultancy. We are happy to talk with you about the needs of your business. Business Advisory

Tax and Legal Advisory

Wojciech Słowiński – Partner phone: +48 502 184 420 wojciech.slowinski@pl.pwc.com

Tomasz Barańczyk – Partner phone: +48 502 184 852 tomasz.baranczyk@pl.pwc.com

© 2013 PwC. All rights reserved. PwC refers to the companies associated in the PricewaterhouseCoopers International Limited (PwCIL), each member of which is a separate legal entity and does not act on behalf of PwCIL or other member firms.

www.cleantechpoland.com

| 13

14 | Shale Gas Investment guide | Winter 2013

Shale Gas

investment

Guide

Country

# of companies # of licenses # of wells

5 10 7

27 106 51

3 8 1

10 21 -

6 8 -

2 1 1

28 46 -

61 188 4

I nd I ca t o r s

w e l l s t o d at e

a n a ly s t ' s V IE W

active EU - 27 countries

# of companies # of licenses # of wells

5 10 7

27 106 51

3 8 1

10 21 -

6 8 -

2 1 1

28 46 -

61 188 4

source: Cleantech Poland

unconventional oil and gas

Country

(HU) Hungary, (PL) Poland, (PT) Portugal, (RO) Romania, (SK) Slovakia, (SI) Slovenia, (ES) Spain, (UK) United Kingdom

Company

PGNiG

Lubocino - 1, Lubycza Królewska - 1, Markowola -1, Lubocino - 2H, Opalino - 2, Wysin -1, Kochanowo-1, Borcz -1

ExxonMobil

Krupe - 1, Siennica - 1**

BNK/LNG/RG/SR

Wytowno S - 1, Lębork S - 1, Starogard S - 1

3Legs Resources

Łęgowo LE - 1

Chevron

Grabowiec - 6, Frampol - 1, Zwierzyniec -1, Kraśnik -1

Orlen Upstream

Syczyn - OU1, Berejów - OU1, Syczyn – OU2K, Goździk-OU1, Berejów - OU2K, Stręczyn-OU1, Uścimów-OU1, Dobryniów – OU1

Marathon Oil

ORZ Cyców - 01, SIE - Domanice - 01, RYP - Lutocin - 01, KWI - Prabuty - 1, BRO - NM Lubawskie - 01, SOK - Grębków - 01

Eni

Bągard - 1, Stare Miasto - 1, Kamionka - 1

San Leon

Siciny - 2, Belvedere - 1**, Chopin - 1**, Lelechów SL - 1, Czasław SL - 1, Lewino - 1, Szymkowo - 1, Rogity - 1

BNK

Gapowo B - 1, Miszewo T - 1

Wisent Oil&Gas

Rodele - 1, Babiak - 1

Cuadrilla

Preese Hall 1, Grange Hill 1Z, Becconsall 1Z, Anna’s Road 1

large financial expenditure needs, political risk and legislative instability, companies are finding it hard to engage in massive unconventional exploration programs. The European Commission has been at work on a report concerning hydraulic fracturing and its environmental impact. Some countries still have moratoria imposed (FR, BG, CZ, LX), while others are either waiting for special reports (IE, NL) or have regional bans (North RhineWestphalia in Germany, Cantabria in Spain). Italy and Finland are not interested in exploring shale, while Austria and Denmark imposed such strict environmental regulations that made operating there practically impossible. Germany will wait on legislative initiatives until the fall elections, also putting a halt on exploration activities. Real development is only taking place in Poland with 51 wells drilled to date and the UK, where the recent BGS and DECC report, The Carboniferous Bowland Shale Gas Study estimates that there are as many as 23.3 - 64.6 tcm of resource in place. 

POLAND

CP/3Legs Res.

Łebień LE - 1, Warblino - 1H, Łebień LE - 2H, Strzeszewo LE - 1

* Overall ** On a relinquished concession

Tobiasz Adamczewski F ORMER A n a l y s t , CT P

Between environmental concerns,

Well Names

OA*

-1-

Gdańsk

Olsztyn

new since May 2013

Szczecin

Source: Ministry of Environment as of Aug 2013, Cleantech Poland Research, DECC as of Aug 2013

Bydgoszcz

Poznań

MARKET O V ER V IE W

WARSZAWA

In Poland

Łódź

change over time

Lublin

Change over time

Rigs in Poland

PP* (HHP)

November 2013

100,000

August 2013

180,000

Wells to date

Wells Wells stimulated ** horizontal ***

source: ministry of environment based on self-reporting, Cleantech Poland research

Wrocław

Katowice

Rzeszów

Kraków

Blackpool

Preston

* Pressure pumping capacity in hydraulic horsepower ** Including DFIT *** Including directional drilling

Blackburn

www.cleantechpoland.com

| 15

Shale Gas

investment

Guide

I nd I ca t o r s price of gas

Sh a r e P r i c e s

EUR/MWh

NCG Spot

40.50

37.50

30.00

26.90

25.76

115.67

Sep

Nov

Jan

The price discrepancy between US and EU gas remains very high. For the price of one MWh of cheap US gas, we would only get a third of that in Europe.

price of oil

Mar

Jul

Source (August 6, 2013)

EUR/MWh

Henry Hub, US

8.60

NetConnect, Germany

25.76

Light Sweet Crude Oil (WTI) Futures Brent Crude Oil Last Day Financial Futures

weekly average $ usd / barrel

116

May

Source: EEX, EIA

22.50

112.50

107.94 105.35

100

Source: nymex



A separate issue is how Poland could use the potentially large amounts of gas from shale into use. Gas-based power has only been coming online quite recently in Poland (mostly within the last decade) and, to date, less than 10 percent of the power in Poland is generated from natural gas. There are plans, however, to increase the use of the resource are already written into the country’s energy strategy. As many as 18 new gas-fired power plants are undergoing permitting procedures or are under construction now. Currently there is 934 MWe (electric) of installed gas-fired power capacity, primarily owned by Poland’s gas utility PGNiG. Before these new capacity goes online, economics of generating energy from gas will have to be looked into. The biggest obstacle with using gas as a nominal power source is its price (see chart on top of this page). With planned new power and the need to liberalize the gas market, much investment will be needed in Poland’s gas transmission and distribution systems. GazSystem, the country’s gas transmission system operator, has planned for the construction of 1,000 kilometers of new transmission pipelines between 2014 and 2018, at a cost of roughly PLN 5 billion (USD 1.6 billion), as well as looking into building infrastructure to connect with Slovaka and the Czech Republic. Gaz-System is also completing its Świnoujście LNG terminal project by the Baltic sea. While the investment is said to cost approximately 2.7 billion PLN, there exists little doubt that it is necessary. Upon completion, the terminal will be able to supply 5 billion m3 of gas per year with a possible increase to 7.5 billion m3 in the future. That would mean annual gas consumption’s increase by 50 percent.

High methane gas

Sep

Nov

Jan

Mar

May

Jul

The spread between WTI and Brent has narrowed as demand for US domestic oil increased over the last quarter. The EIA reports that recently improved pipeline networks and crude-by-rail links facilitated direct delivery from production areas to refining centers, which helped move the shale-related oil glut.

P RICE O F c o a l 104

steam coal futures

Rotterdam Coal Central Appalachain Coal

$ usd / tonne

94.00 75.65

77 50

58.94

Sep

Nov

Jan

Mar

May

Jul

Since the early 2011 peak price of approx. 150 USD/tonne for Central Appalachian coal, prices have tumbled by over 60%. Lower than predicted demand from China and higher Chinese domestic output of the energy resource led to overproduction and a price drop.

selected independents operating in Poland and the UK

Company

Ticker

Currency

share price

3LEG Resources BNK Petroleum Dart Energy LNG Resources San Leon Energy AJ Lucas Group

(3LEG:LN) (BKX:CN) (DTE:AU) (LNG.V) (SLE:LN) (AJL:AU)

£GBP (p) $CAD $AUD $CAD £GBP $AUD

25.3 1.53 0.12 0.01 4.05 1.25

Source: London Stock Exchange, Toronto Stock Exchange, Australian Securities Exchange

16| |Shale ShaleGas GasInvestment Investmentguide guide| Summer | Winter 2013 2013

Nov 18, 2013

% Change

-0.02 -17.7 0 0 -6.9 -29.6

-35.3 183 -7.7 -75 -52.3 35.4

-65.2 -15.9 -77.8 -93.3 -71.1 -26.67

(in one month)

(in one year)

(in two years)

Source: nymex, ICE

a n a ly s t ' s V IE W

-2-

Shale Gas

investment

Guide

I nd I ca t o r s expert guest

c o u n t r y s tat s

SGIG asked Mariusz CaliĹ&#x201E;ski, President of DUON, a company with a dynamically growing gas trading portfolio, what the impact of liberalizing the Polish gas market will have on the upstream sector.

shale gas potential (bcm) New estimates from the Polish Geological Institute are expected earliest in 2014. Jerzy Nawrocki, PGIâ&#x20AC;&#x2122;s Director, needs a larger volume of core samples and seismic data to come up with a more precise estimate than the 2012 figures.

5 29 5, 0 92 1, 68 -7

6 34

6,000

4,000

Mariusz CaliNski p r e s i d e n t o f D U ON

Source: pse operator

Poland is under pressure to install new power generation capacity. By 2016 there might be a 1-2 GW shortfall in nominal power. As old power plants need to be renovated or shut down (up to 6,6 GW by 2020), replacing them will be crucial. Without cheap gas and RES support Poland will need to import more energy in the near future from neighbouring countries.

55.66% Anthracite Gas

Lignite Renewable

Hydro Industrial

natural gas consumption forecasts (bcm per year) 21

20.2

18 17 Source: ministry of economy

16 15 14

Source: ministry of economy

20 19

72% 28%

2.67% 1.55% 1.74% 5.52%

32.87%

Gas import

4.4 (BCM)

PGI, March 2012-high probability PGI, March 2012-max EIA, April 2011

power generation by source

gas consumption in 2012

Gas production

Source: EIA, PGI

2,000

The liberalization of Polish gas should lead to the de-monopolization of the market and emergence of many, alternative to PGNiG, gas suppliers. Operators will have much more flexibility in terms of choosing a buyer and negotiating contract terms. Market based futures contracts, as an essential element of risk management, will allow for securing long term market positions. The creation of a liquid wholesale market along with the ability to trade on the commodities exchange are main elements of transparency and competitiveness, which upstream investors will surely appreciate. Increased domestic extraction is a priority for the Polish economy, which is why, along with exploration investments in new plays, competitive market mechanisms need to be developed in the gas sector. This would link new gas producers to existing domestic consumers, who are awaiting market-based gas prices. A liquid wholesale market should in a short period of time lead to the correlation of Polish gas prices to those observed at European gas hubs (Gaspool, NCG, TTF, NBP).

11.4 (BCM)

-3-

17.1

14.5

2006

2010

2015

2020

2025

The Polish government estimates that natural gas consumption will grow 70 percent by 2030. By that time, energy production from natural gas is planned to triple. Increased domestic production and efficiency in power generation will be key elements in implementing this plan.

2030

www.cleantechpoland.com

| 17

18 | Shale Gas Investment guide | Winter 2013

www.cleantechpoland.com

| 19

t r e nd i ng Aug 22/13 Market briefly LIKES ŁebieN gas flow

CLEANTECH POLAND

Poland’s shale gas market becomes positively alert after ConocoPhillips/3Legs Resources announce sustained and unassisted flow of gas from Łebień LE2H horizontal well on their Lębork concession.

I spent 20 million and all I got was this flame?

The well started to flow Ordovician shale gas without assistance in mid-July. The initial flow rate was about 11.3 thousand cubic meters per day dropping to 8.5 thousand cubic meters per day later in July. 3 Legs’ chief executive Kamlesh Parmar said that the company was obtaining valuable data from this test, which would help to understand commercial potential of Ordovician shales in the company’s acreage. 3Legs Resources is proceeding with testing on Strzeszewo, including the first test of Strzeszewo LE-1 vertical well, where the company had been unable to flow substantial gas volumes. 3Legs Resources seeks to monetise its assets in eastern Baltic Basin. @3legsresources.com

Aug 6/13 Polish prosecutors charge seven with bribery @afp.com

Aug 20/13

Two Ukraine regions reject central government’s agreement with Chevron @reuters.com

20 | Shale Gas Investment guide | Winter 2013

Aug 23/13

Aug 27/13

Aspect Energy acquires 22.5 percent interest in San Leon’s Cybinka and Torzym concessions

Dutch Ministry of Economic Affairs: low methane pollution risk from shale

@sanleonenergy.com

@rijksoverheid.nl

French company GDF Suez said it would seek to invest in the shale oil and gas industry in Germany, Poland, UK and Latin America, including Brazil and Chile, Bloomberg News reported. The company also voiced concerns over a blanket ban on hydraulic fracturing in France, first imposed by the right wing Sarkozy government and then upheld by the socialist cabinet of Francois Hollande. As early as in October 2011, GDF Suez CEO Gerard Mestrallet was quoted as saying that a red light to shale gas development in France would have been a “major mistake”. GDF Suez owns the largest natural gas network in Europe. The company together with its Algerian partner, Sonatrach, also signed a contract with Spanish Tecnicas Reunidas aimed at development of natural gas field in Touat, southwest Algeria. @bloomberg.com

Lithuania officially confirmed that it would proceed with granting American oil and gas company Chevron shale gas exploration rights in western part of the country, only to see the company give up on activity shortly afterwards, citing challenges of a regulatory and legislative nature. The 1,800 square kilometer Silute-Taurage block located near the Baltic Sea, could hold 80 billion cubic meters of recoverable gas, according to experts. In order to participate, Chevron - the only bidder as

CREATIVE COMMONS

Sep 3/13 Chevron comes and leaves Lithuania

trending

Aug 30/13 GDF Suez to roll out shale program

3LEGS REsources

Shame to leave, it’s such a pretty country

The French utility gets in on the game

it turned out - made an upfront commitment of spending a minimum of USD 31 million in exploration. The company was granted a seven-year permit as well as a ten-year license for conventional oil. Chevron was also involved in the nearby 2,400 square kilometer Rietavas oil and gas field, where Lithuania-registered LL Investicijos and Chevron had a 50 percent stake each. Following Chevron’s withdrawal, the government is now working on a new bid to attract investment.

Aug 29/13 Protesters from Lithuania address Russia and Belarus presidents to support anti-shale case

Aug 28/13

JKX 10 stage frac in tight-gas well in Ukraine @naturalgaseurope.com

@baltic-course.com

Sep 10/13 Protesters get evicted from Cuadrilla shale site @bbc.co.uk, frack-off.org.uk

Sep 14/13

Shell and Ukraine finalize USD10 bn agreement @kmu.gov.ua

www.cleantechpoland.com

| 21

t r e nd i ng Sept 20/13 Chevron USD 10 billion DEAL IN Ukraine

Polish natural gas company PGNiG announced plans to carry out, in collaboration with AGH University of Technology and Oil and Gas Institute, a research

By agreeing to a government draft for a productionsharing agreement with the US-based energy company Chevron, local authorities of Ivano-Frankivsk region in western Ukraine cleared the final hurdle in the way of a USD10 billion deal. The deal was eventually signed in early november. In August, the regional authorities rejected a previous version of the agreement on the grounds of environmental concern, underground water pollution in particular, in this region famous for tourist resorts. Two weeks later, adjacent Lviv region gave its nod to the Chevron deal as well. Earlier in September, Ukraine allowed shale explorations in the easter Yuzivska gas play, signing a $10 billion contract with

KRZYSZTOF RATSCHKA

Sept 19/13 PGNiG wonders why they are not sucessful

into problems in finding commercial levels of shale gas in Poland. The company expects the expert group to answer whether the deposits it has contain commercially sufficient amounts of gas as well as explain why there’s been no success so far in any of the PGNiG’s concessions. PGNiG’s acting CEO, Jerzy Kurella, told Rzeczpospolita that he is interested in “the question of presence of industrial quantities of gas at acceptable prices and if so, then what is the reason of the current trouble to extract it”. Besides this research effort, the company proposed to foreign companies who own licenses in Poland to exchange information on exploration work. @rp.pl

Sept 16/13

Sept 23/13

Dutch government postpones decision on allowing shale drilling

22 | Shale Gas Investment guide | Winter 2013

West and east find a way to meet

Royal Dutch Shell, pre-announced by the Ukrainian president Viktor Yanukovych at the World Economic Forum in Davos in January. @reuters.com

Sept 25/13

San Leon Energy registers highest pump rate outside US @sanleonenergy.com

reuters

A tender to ask questions of oneself

Ukrainian PM predicts future shale gas retail price: Sept 25/13 $200/1,000 cm Turkey starts fracking in the southeast

Italy-based Eni said it was going to proceed with shale gas exploration in the Volyn region in Ukraine, between June and August 2014. The Italian company has an exploration strategy in place for 2012-2015, with plans for horizontal and vertical drilling, and hydraulic fracturing in Ukraine, currently Europe’s most active country in terms of shale gas exploration.

Chevron obtains building permit for first shale gas exploration borehole on location in Pungesti, Vaslui County, Romania. The American company aims at confirming hydrocarbons potential in there having fulfilled all the conditions including the permit from National Agency for Energy Resources. However the company’s activity has met a lot of opposition from locals, the Orthodox Church, and an organization called “Romania without them”. The protests escalated the following weeks with protests gathering up to several hundred people, prompting Chevron to suspend its works. The controversy eventually brought about the ban on shale gas exploration by Pungesti authorities, which in turn the regional authorities of Vaslui County are seeking to overturn in court. Secretary of Pungesti Constantin Chiriac announced in October a plan to organize a referendum in November about shale gas exploration in the area. @naturalgaseurope.com

KIEV POSt

Oct 08/13 Local authorities THWART shale in Romania

Eni has a 50 percent stake in local gas company Zakhidgazinvest, following a June 2012 deal. Through the takeover of Zakhidgazinvest, Eni gained access to nine unconventional licences with a total area of 3,800 square kilometers in western Ukraine in the shale prospective Lviv Basin. Zakhidgazinvest currently asked for the Volyn region administration’s assistance in laboratory research and examination of environmental issues of the acreage in question. @naturalgaseurope.com

REUTERS

It gets cold in Kiev in the winter

They don’t want them either

Oct 07/13

Oct 11/13

Peter Voser, outgoing Shell CEO, regrets the company’s huge bet on US shale

French Court decides fracking ban is compliant with Constitution

Sept 25/13

San Leon seeks financing by investing in Turkey and selling $50m shares

@ft.com

Oct 09/13

European Parliament votes in favor of mandatory EIA for all unconventional drilling activities in the EU

www.cleantechpoland.com

| 23

trending

Oct 04/13 ENI PLANS UKRAINE VENTURE in 2014

t r e nd i ng

Polish Ministries of Economy and Environment consider imposing fines on companies for sluggish shale exploration while the latter complain over incomplete regulations. This is the reaction to considerable slowdown in the operations of companies who own shale gas licenses in recent months. Their limit their actions to minimal requirements arising from the licenses. Deputy Minister of Environment, Piotr Woźniak was quoted in Dziennik Gazeta Prawna saying that not a single site he had visited had extracted core. And this is necessary to evaluate the presence of shale gas and its deposit size. However, shale gas operators are uneager to invest in exploration because they consider Poland legislative framework is incomplete thus making it unclear to state whether extraction would be profitable. To date, 51 wells drilled on 107 licenses. @gazetaprawna

Chevron files lawsuit against Polish shale gas protesters who occupied company’s shale development site in the village of Żurawiów preventing the US major from drilling. It is located 80 km southeast of the re-

Let’s talk about shale some more

SZYMON SZCZEESNIAK

Nov 09/13 Chevron battles local opposition in court

MINISTRY OF ENVIRONMENT

Oct 15/13 Row erupts over slow shale drilling in Poland

At least the lawyers are busy

gional capital, Lublin and belongs to one of four exploration concessions in the company’s total acreage. The protesters argued that Chevron should not proceed with the activities affecting birds’ habitats during breeding season. Chevron claimed the protesters violated the company’s right to access the site. In a statement the company hoped that a small group of people do not reflect the views of the majority. Meanwhile, the chairman of the Polish Exploration and Production Industry Organization (OPPPW), Kamlesh Parmar expressed his concerns that Poland’s shale gas program was progressing too slowly. @naturalgaseurope.com

Oct 19/13

Oct 22/13

Global Frackdown event held worldwide to protest against fracking

GDF Suez buys 25 pc stake in 13 UK Dart Energy licenses

Oct 21/13

@platts.com

Nov 14/13

Shale gas operators to face “robust legislative package” by the EC in early 2014

PKN Orlen acquires 100 percent interest in Canadian TriOil

@euractiv.com

@orlen.pl

24 | Shale Gas Investment guide | Winter 2013

advertorial

From its new Polish branch, BakerCorp provides temporary containment solutions for liquid storage. Michał Koprowski, Branch Manager, will be at Terrapinn to show the rental tanks to the market.

MichaŁ Koprowski

Oilfield Liquid Storage M ichał, what is your particular professional background?

For ten years, I worked at Shell Gas Polska were I started as Sales Manager and left the company as Sales Director. Thereafter I started my own company, which I sold to one of the largest LPG trading companies. It was around that time that I heard about this job opportunity with BakerCorp. What is your position and what are your responsibilities at BakerCorp? As the Branch Manager I am in charge of running BakerCorp’s operations in Poland. I set performance guidelines and maintain our Quality Management and Health & Safety standards. I am in charge of training employees as well as staying connected to vendors. But my main focus is to deliver the best rental service to our clients. What products & services does BakerCorp offer in Poland and CEE? We rent mobile storage tanks with a volume of 70 m3 each. All these steel tanks are equipped with standard connections and can be provided with separation flanges, heating coils, mixers and a protective interior coating. BakerCorp also rents HDPE double wall

tanks with a capacity of 30 m3 for onsite storage of acids, caustics and chemicals. With our mobile tank rental concept we can create almost any required storage volume.

market that BakerCorp has started a branch operation in Poland. This conference gathers all key people of the oil and gas industry and is an excellent place to trade information.

Poland has drilled about 50 shale and tight gas wells. What level of growth does your team expect?

What do you want your clients to learn from seeing the tanks on the trade show floor?

Based on data presented during a recent conference of the Polish Geological Institute, there have been 51 wells drilled to date. The geological character of the shale requires around 300 wells to be drilled to evaluate Poland’s unconventional oil and gas potential. Poland’s commercial potential depends on the evaluation of core samples and reser voir characteristics and we need regulatory stability. BakerCorp has been involved in the Polish shale gas market from the first exploration shale gas well in 2010 onwards. To date we served the market from our operations in Germany, but in October we have started a local branch operation in the area of Łodz.

We want clients to see our rental tanks with their own eyes and would like to discuss our role in their process of liquid management. Our role is to help clients to concentrate on their core business - bringing the basin to commercial production - and leave the challenges of liquid containment to us!

Why did you decide to exhibit at Terrapinn? We believe that this event is a great opportunity to show the depth of our rental offering, and to inform the

What’s something personal that your clients may know know about you? I am a cook - although not the best in the world - and I can’t imagine a day in life without a book. My wife and I are married for 20 years and we have two children. How can clients get in contact with you? They can call me on my cell phone: +48 604 113 028 or send me an email: mkoprowski@bakercorp.com

www.cleantechpoland.com

| 25

SHUTTERSTOCK

Two USD10bn shale gas deals in one year, Ukraine is catching up

26 | Shale Gas Investment guide | Winter 2013

operations

O P ERA T ION S U P DA T E

Ecstasy to Agony Exploration has slowed across the EU-27, in part because of technical challenges in the shale formations, and in part because fracktivists use shale to wage geo-political wars. By W o j c i e c h Ko ś ć a n d Pa r k e r S nyd e r

Polish shale might not be dead yet, but its attached to a breathing machine and the doctors are debating whether or not to pull the plug. What little activity is taking place Conoco will spud and frack, Orlen continues to frack - is a trickle of a stream in the place of what was a raging river. No one, and we mean no one, in London or New York is considering funding exploration, and for good reason. According to several geologists and consultants who are at work in Polish shales, the shale is rather a tight gas which is high in clay, posing technical challenges, and thwarting the efforts of stimulation programs based on water fluids. The only frack to date worth

what it cost its operator was 3 Legs Łebien LE-2H well, which flowed at 2 million mcf per day aided by nitrogen but fizzled after just 24 hours. The exploration activities that followed in the Baltic basin were a series of partly failed attempts, hampered by the demands of bureaucrats who require legions of documentation to make minor changes. Marathon, Talisman and Exxon called it quits. The Italy based ENI is pulling out. Officially, the only two IOCs who remain are Chevron and ConocoPhillips, both of whom state publicly they are committed to exploring the basin. But in private conversations with individuals who are familiar with their plans, even these two companies are considering changes. 

www.cleantechpoland.com

| 27

28 | Shale Gas Investment guide | Winter 2013

ISTOCK

WHAT WENT WRONG? In general, a brash western optimism was easily stymied by Polish reality. The shales aren’t good, at least not that good, and there are numerous practical challenges to operating in Poland. For instance, the data archive consisting of more than 700 wells, some drilled by the Russians, remains inaccessible to those who want to take a close look. The application procedure is cumbersome. And the legal right to commercialization is murky. Well records have been scanned and returned to dusty shelves so many times the paper is wearing thin. Yet, there’s no central effort to digitize the data archive. Further complicating the matter is the perception that the government is out to take pieces of a pie that hasn’t even been baked. The proposed royalty and fiscal regime seems favorable compared to other countries: 20% royalties, 19% income taxes, and a statesponsored participation capped at 5%. But operators still continue to voice opposition to the proposal. At a recent OPPPW meeting in Gdańsk, deputy geologist Piotr Woźniak maintained that everything was moving along nicely, while operators in attendance were privately fuming that the circus act was falling apart. In previous meetings, minister Woźniak has hinted at what PiS promised to their constituents at a north Baltic well site: “we will get those concessions back.” Foreign operators, investors and country manager who earlier took a positive view of the Poland shale basin have left. John Buggenhagen, operations director for San Leon Energy who was one of the first to move to Poland, went back to Colorado to develop oilfield acreage outside Denver. Bill Marble, another American who signed on in 2011 to develop Silurian Hallwood (now Wisent Oil and Gas) has

In general, brash Western optimism was easily stymied by Polish reality. moved back to Texas. Other veterans have come and gone, including Doug Bentley, country manager for Schlumberger in Poland. He’s been replaced by Frank Thompson - and Mark Swift, formerly the country manager for Halliburton in Poland - was replaced by Herve Biscay. Investors who took a short term view of Polish shale have been dismissed,

including Scott Robertson and Mark Gordon of Soros’ New York based hedge fund. LNG Energy has all but ceased to exist; their shareholder base dried up. BNK Petroleum, locally at work as BNK Polska, has yet to drill in Poland since their plans were held up and their equipment idled in place. Dart Energy left. FX Energy, the only foreign owned producer in Poland - ac-

operations

Gdańsk Kamminke

Tietierowka

Lwówek

Poznań Warszawa

Wysokoje

Gubin Lasów reverse

Wrocław

Tarnów

Świerklany Branice

Drozdowicze Hermanowice

Cieszyn reverse

pol and’s gas lines Once and if gas from shales flows, it will rely on Poland’s gas transmission infrastructure to reach the market effectively. The system’s operator GAZ_ SYSTEM plans close to 1,000 kilometers of new gas pipelines to be completed between 2014 and 2018. The cost: USD 1.6 billion.

cording to one source familiar with their plans - is leaving. The question: is it all over? Probably. Another question: will it ever come back? Perhaps. But not for a decade. Unless there’s a wildly lucky frack, the future of Polish shale is a dismal one, dominated by opaque, tight-lipped state owned companies with no real aptitude for shale exploration.

Import

Branch headquarters

Transmission

Concession acreage

Conventional gas

High-methane gas pipelines

Shale gas’ only flow site to date

1000 mm 500 -700 mm 100 - 300 mm

UKRAINE, ROMANIA, LITHUANIA Couple years ago, the bulk of the possible shale gas exploration was expected to take place in Central and Eastern Europe. At the time, Poland appeared a sure bet for operators, with the government giving shale gas an enormous positive spin. Other countries lagged behind, even if their shale gas potential was big, like in Ukraine.

Potential shale gas plays High-nitrogen gas pipelines 1000 mm 500 -700 mm 100 - 300 mm

Today, Ukraine has actually caught up. In early November, Ukraine signed a USD 10 billion shale gas development with US major Chevron. According to the deal, Chevron will gain the rights to explore and eventually produce hydrocarbons in two western Ukrainian regions. They hold an estimated 2.98tn cubic metres of gas reserves, one of the largest in Europe. 

www.cleantechpoland.com

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Ukraine is one of the few European countries to be pressing ahead with significant shale gas development

30 | Shale Gas Investment guide | Winter 2013

to fracking’s leftovers. This is a sheer baloney, and we are set to strike it down,” Algirdas Salamakinas, a Social Democrat legislator and the initiator of the Constitutional Court appeal, Natural Gas Europe reported in November. In Romania, fracking is a contentious issue as well. Chevron decided to give up exploration in Vaslui County in aftermath of local protests. It’s continuing with exploration elsewhere, amidst uncertain regulatory and political environment. According to the Romanian ministry of environment, extracting gas from shales is potentially beneficial for a country that’s heavily dependent on imports, but on the other hand, the ministry said in November, it has to be carried out with the utmost attention to environmental standards, a rhetoric that many in the shale gas industry take as a diplomatic “no” to development. UK Apart from Ukraine, the only other country where activity is under way is the United Kingdom. The shale gas industry is still riding the high waves created by June estimate of the British Geological Survey that put shale gas reserves of they key shale gas play in central Britain at 1,329 trillion cubic feet (over 37 trillion cubic meters). The estimates, along with government’s favorable approach to the industry via a proposal for tax breaks unveiled in early 2013, have been attracting deals. In late October, for example, France’s GDF Suez invested USD39 million for a 25 percent interest in 13 licences in Cheshire and the East Midlands. The agreement includes a $12 million cash payment to Australia’s Dart Energy and the funding of a joint unconventional exploration and ap-

PHOTOGENICA

In January 2013, Ukraine signed a similar deal, also worth an estimated USD 10 billion with Royal Dutch Shell, concerning shale gas play in eastern part of the country. If ever produced, Ukrainian shale gas is expected to bring the country a complete self-sufficiency for gas and, perhaps, even a gas exporter. Such development has geo-political weight as currently Ukraine depends on Russian gas mostly. The deals with Chevron and Royal Dutch Shell make Ukraine “one of the few European countries to be pressing ahead with significant shale gas development, which has been held up elsewhere by environmental concerns over the hydraulic fracking used to produce the fuel,” the Financial Times reported. Elsewhere, shale gas development is being hindered, if not stopped outright. For example, in Lithuania, the development is in limbo after Chevron resigned from activity in the country, citing challenges of regulatory and legislative nature. Chevron quit its shale gas exploration bid for the 1800 square km Silute-Taurage tract in south-western Lithuania. The Lithuanian government is working on a new bid offer at the moment, which is expected in early 2014. The Lithuanian parliament, however, has lodged a motion to the Constitutional Tribunal to look whether allowing radioactive residues that fracking could leave behind underground is in line with the Lithuanian Constitution. “Lithuanian Constitution clearly states that polluting environment and earth’s depths is prohibited. According to the law amendments that the Lithuanian parliament has recently passed, burying chemical, radioactive and other toxic materials in the depths is banned, but the law makes an exception

praisal program up to $27 million. There are problems, too, that the nascent shale gas industry is facing. A widely reported anti-fracking protest on the site in the village of Balcombe made the industry realize that the environment for shale gas development in Britain may be as hostile as elsewhere in Europe. It’s also estimated that production of shale gas could create fewer jobs than the government previously projected: just 24,000 jobs against the Prime Minister’s David Cameron’s figure of 74,000 that he cited in August. Finally, a report

operations

from Bloomberg New Energy Finance put the production cost of shale gas in Britain at twice the US cost. On the positive note, the report said, shale gas could offset declining production of gas from the North Sea fields. EU 27 How are things in the rest of the EU-27? Take a look at our complete listing of all unconventional oil and gas concession holders which begins on page 100. In total across the EU-27, 101 exploration wells for unconventional oil and gas have been drilled. GDF Suez farmed

into UK acreage, hoping to get a jumpstart on other utilities who would like to book shale reserves on their balance sheet. Coal bed methane exploration proceeds in Germany. Tight gas exploration continues in Hungary. In general, shale exploration is slow and likely to go slower. Protests across Europe have emerged as the dominant force threatening to derail the train completely. In contrast to North America, where protests tend to be vitriolic but manageable because industry appears more willing to engage the public, the passions unleashed throughout

Europe tend to be of a more primal, nationalistic character. Although hydraulic stimulation has been around since the end of World War II, fracking has emerged in Europe as a red-hot target for activists who wish to push a geo-political agenda. Itâ&#x20AC;&#x2122;s too bad, because as fracking gets all the bad press, there are immediate concerns that go unaddressed (noise, emissions and on-site safety), which distracts from the more important question: what role can shale gas play in Polandâ&#x20AC;&#x2122;s transition to a low carbon economy?

www.cleantechpoland.com

| 31

E U S HALE S

Europe

and its Shales The shale gas revolution in the US encouraged a few European countries to follow suit. However, the reality in Europe showed it may not be so easy. Some countries that are keen to produce shale gas are struggling to attract foreign investors. Others are struggling to keep them. G r z e g o r z K u ś , Att o r n e y a n d M a r e k K i l i a n , C o n su l t a n t , P wC

The European shale gas revolution may not proceed as fast as investors might like, as the authorities of the European Union consider increasing environmental duties for shale gas exploration and instituting a mandatory environmental impact assessment. On the other hand, some national governments see a great potential and an inspiring opportunity in shale gas. It seems the countries most likely to become the leader of the European shale gas exploration are Poland, the United Kingdom, Ukraine and Turkey. The question is which country is the most likely to become the leader of a shale gas revolution in Europe? NO CARROTS, NO RABBITS US experience shows that incentives from government are crucial for the development of the shale gas industry. There are two main reasons determining the importance of a government’s support. The first reason is the high capital requirements of shale gas activities compared to conventional natural gas resources. The second reason is a willingness to limit what is a 32 | Shale Gas Investment guide | Winter 2013

higher risk of failure in exploration. For example, if an investor decides to withdraw from further activities due to failure to find commercial deposits, the investor does not have many possibilities to recover from losses, due to a lack of saleable assets. In this light, the role of a cooperating national government should be to help (via relevant legislation) the investor reduce his expenditures (i.e. related to various tax and fees) and to allow the investor to utilize incurred costs for tax purposes. SIGN: NOT WELCOME With respect to Poland, the legislative process for a new shale gas taxation is pending. The Polish government aims to secure the interest of the treasury levying what are perceived as high taxes and fees, which have been criticized by the shale gas industry for failing to introduce reasonable incentives or tax allowances. However, suspension of new taxes until 2020 may be seen as a kind of incentive as the taxation level in the period from 2013 to 2019 will be relatively low (basically 19% of corporate income). Another country aiming at attracting

shale gas investors is Ukraine. Recently a state-owned Ukrainian company signed a 10 billion dollar gas deal with Chevron. The Ukrainian example shows that dialogue with investors is more attractive than proceeding right away with significant changes to industry regulations. SIGN: YOU BELONG Elsewhere across Europe, we see a decrease in the taxation level for shale gas which was announced by the British government, which has been taken as a positive sign for investors. Plans announced in July could provide a reduction in taxes on shale gas revenue from 62% to 30%. The Chancellor of the Exchequer George Osborne said: “We want to create the right conditions for industry to explore and unlock that potential in a way that allows communities to share in the benefits. I want Britain to be a leader of the shale gas revolution because it has the potential to create thousands of jobs and keep energy bills low for millions of people.” In Turkey, a new oil and gas law came into force in June 2013. The new law provides several investor-friendly solu-

Taxation

S h a l e g a s e x p lo r at i o n i n Eu r o p e

Netherlands Dutch govt. imposes temporary 18-month ban for fracking

Germany ban for fracking considered

Poland Draft law for hydrocarbons expl. and production annoucement

Lithuania Chevron retreats from a tender for an exploration license

Ukraine Shell, Chevron, ENI expect to start shale exploration in Summer’14

UK Tax incentives proposed by the UK government in July 2013

EU European Parliament votes for mandatory Env. Impact Assessment

Bans/Moratoria for fracking Extraction allowed

France maintains interdiction for fracking

Extraction allowed and permits issued

Olores enducima necerferes nobissitiis maiorehent. Ped ma apiciisque nonsectiur audae ius modit inctem que dit pel et ersperae doluptiunt, consequi

Romania Chevron halts shale gas exploraiton after local protests

Bulgaria bans fracking

Turkey New investor friendly oil and gas law

The Ukrainian example shows that dialogue with investors is more attractive than proceeding right away with significant changes to industry regulations tions including a set of tax incentives: reducing the ceiling for income tax from 55 per cent to 40 per cent and provision of exemptions for companies from customs tax, certain levies and stamp duty for equipment. It is worth mentioning that a formal cooperation agreement between state owned Turkiye Petrolleri A.O. and Shell was signed in February 2013 and two Canadian-based companies are exploring shale gas in the Dyiarbakir area. Turkey

seems to be an example of how a country can combine regulation with an environment that’s friendly to investors. THE WAY IT IS It seems that the United Kingdom is most determined. On the other hand, Ukraine and Turkey seem able to draw investors not – in contrast to the UK – by the reward of a benign tax regime, but through gaining the trust of foreign operators.

Despite the most number of wells drilled to date in Europe, Poland – just two years ago seen by many as the country most likely to develop shale – seems a full step behind. Other countries are racing to attract foreign investors: Poland seems interested in keeping them at bay. Based on Poland’s experience: there’s a lesson to be learned for any country interested in extracting shale gas: introduce simple incentives and reward explorers by mitigating risk.

www.cleantechpoland.com

| 33

GEOLOGY

USD 1 Billion versus the Rocks

The recent history of unconventional oil and gas exploration in Poland began in 2005, when the first American companies entered the country, lured in by promising estimates of unconventional hydrocarbon reserves from the US Energy Information Administration. It did not take long for the industry to concentrate in Poland on the Lower Paleozoic shale at the East European Craton spread from northern to southeastern Poland. The US experience in exploitation of shale reservoirs from the first decade of the 21st century soon whetted the appetites of Polish explorers as well. Several major companies entered the country, amid strong supportive political rhetoric from the government, and reports indicating the presence of considerable shale gas resources in 34 | Shale Gas Investment guide | Winter 2013

Even if drilling in Poland isn’t up to speed at all, data from new wells has delivered a wealth of new information about the geology of unconventionals. Here’s the basic conclusion: it’s not as good as many dreamed a few years ago. By Paw e ł P o p r awa

Poland that worked in unison to create high expectations. Between 2007 and 2011 Poland saw a tremendous rush for concessions, hardly seen anywhere else in Europe in the last decades. AFTER THE RUSH A few years into shale gas exploration in Poland, we have a better knowledge about the Lower Paleozoic reservoir. Since the first well, drilled in June 2010, some 50 exploration wells have been, or are under way, prospecting for gas from shales (see chart).

Comparing this with no more than 40 historical wells in the reservoir in question, mainly from 1960s and 1970s, and coming short in terms of the quality of data, this most recent activity has already brought about a breakthrough in our understanding of the Lower Paleozoic reservoir. However, it still does not mean a proper understanding in terms of oil and gas quality of the reservoir and its commercial potential, since the majority of these wells are vertical ones and virtually no fracturing has taken place.

Geology

One of the main exploration risk factors is relatively low average TOC contents of the shale reservoir.

PHOTOGENICA

reservoir. In the central Baltic Basin, Podlasie Depression and north west Lublin region, this was the Lower Llandovery bituminous. Finally, in the south east Lublin region near the border with Ukraine, it was the Wenlock shale that was regarded as the main component of potential reservoir.

Companies were able to carry out multi-stage fracturing without significant technical problems and with proper production tests on only two wells: Łebień LE-2H, operated by ConocoPhillips/3Legs Resources and Syczyn OU-2K, operated by Orlen Upstream. The starting point for exploration, based on historical geological data, was ridden with a broad spectrum of uncertainties, partly related to complete lack of some key information about the reservoir, such as porosity, permeability, mineralogy, gas/oil saturation, or pressure. Now it’s clear that the Lower Paleozoic shale is not a uniform reservoir. In the Pomerania region to the west of Gdańsk, the Upper Ordovician and the Upper Cambrian to Lower Tremadocian shale was regarded as the main

WINDOWS OF OPPORTUNITY? Results from the new 50 exploration wells have not changed the picture of the reservoir in principle, however they helped to detail the availability of oil and gas in specific locations. For example, the Upper Cambrian Alum shale is getting more attention in the NW Baltic Basin, while the Lower Llandovery shale appeared surprisingly rich in total organic content (TOC) in some locations in the Eastern Baltic Basin, and additionally the Caradoc shale proven to be an interesting target in NW Lublin Basin and Western Podlasie Depression. Distribution of thermal maturity in the basin, as well as presence of hydrocarbon shows in the Lower Paleozoic section defined individual zones in the basin with shale being either immature, within oil window, liquids window, dry gas window or even over-mature. This distribution remains confirmed by new well data. A very important outcome of new wells drilled is the confirmation of the presence of gas and/or oil saturation of shale reservoir in nearly every well, allowing to sustain high expectations as for the basin’s potential, which previously was not obvious. In the Eastern Baltic Basin, central Podlasie Depres-

sion and Eastern Lublin region the shale appears to be oil saturated and recently some operators, like Wisent Oil&Gas, concentrate on shale/tight oil exploration. The now well documented broad zone of the liquids window, crossing the basin from the north west to the south east and the west of oil saturated zone, even further differentiates hydrocarbon products available for production for the Lower Paleozoic shale. However, the experience from thus far performed vertical and lateral well fracturing indicates that production of oil and liquids from that reservoir might be particularly difficult due to commonly very low permeability of the shale. Nonetheless, the currently attractive market for condensates, NGL and oil will certainly still keep the industry interested in those parts of the basin. Further west, dry gas is documented in the basins by new wells, which appears in a broad zone particularly in the Western Baltic Basin. Unfortunately, high burial depth there increases drilling costs. Nonetheless, an interesting observation claimed by BNK Petroleum is the possible local presence of gas overpressures, which might allow for higher rates of gas production, potentially compensating for the high drilling cost. The historical geological data from the very beginning indicated also that one of the main exploration risk factors in the basin is relatively low average TOC contents of the shale reservoir. After 50 new wells, the understanding of the TOC distribution is far more detailed, but the concern still re- 

www.cleantechpoland.com

| 35

Drilling Independets

EX P LORAT ION W ELL S , P OLAND

Drilling (completed)

Drilling (ongoing)

Drilling (planned)

Rodele-1 Babiak-1

Wisent Oil & Gas Lewino-1

Talisman & San Leon San Leon

Rogity-1

Szymkowo-1

Siciny-2 Lubocino-1

Lubycza Królewska-1 Lubocino-2H

Opalino-2

Suczyn OU-1 Berejów OU-1

Orlen Upstream

Wysin-1

Kochanowo-1 Borcz-1 Lubocino-3H Wojcieszków-1 Kościaszyn-1 Opalino-3 Opalino-4

PGNiG

Gozdzik OU-1 Syczyn OU-2K

Berejów OU-2K Stręczyn OU-1 Uścimów OU-1 Dobryniów OU-1

ORZ Cyców-01

Marathon

SIE Domanice-01

RYP Lutocin-01 KWI Prabuty-1 BRO NM Lubawskie-01 SOK Grębków-01

Krupe-1

ExxonMobil

Siennice-1 Bągard-1

ENI

Kamionka-1 Stare Miasto-1

Lebień LE-1

Conoco Phillips & Lane

Łęgowo LE-1

Warblino 1-H Łebień LE-2H

Grabowiec-6

Chevron Wytowno S-1

BNK Petroleum

2010

Lębork S-1

Starogard S-1

Strzeszewo LE-1

Frampol-1

Lublewo LEP-1 Sławoszyno LEP-1 Jackowo LEP-1

Zwierzyniec-1

Kraśnik-1

Zwierzyniec-2

Miszewo T-1 Gapowo B-1

2011

2012

2013

The chart above, shows the wells drilled to date by companies at work in Poland’s unconventional oil and gas basins. ARTICLE SOURCES: Grotek I., 2006. Thermal maturity of the organic matter from sedimentary cover of the Pomeranian sector of the TESZ, Baltic Basin, and surrounding regions. Pr. Państw. Inst. Geol., 186: 253-270. Klimuszko E., 2002. Silurian sediments of the South-eastern Poland as a potential source rock for Devonian oil. Biul. Państw. Inst. Geol., 402: 75-100. Poprawa P., 2010a. Shale gas potential of the Lower Palaeozoic complex in the Baltic Basin and Lublin-Podlasie Basin (Poland). Prz. Geol., 58(3): 226-249. Poprawa P., 2010b. Preliminary evaluation of potential for shale oil exploration in the Lower Paleozoic and other shale source rocks in Poland. Unpublished Report, Ministry of Environment, 1-21.

mains. It appears that in some parts of the basin a net pay thickness of shale with high enough TOC is low as for US and Canadian standards. Identification of the areas with higher net pay of reservoir is currently of crucial importance for the localization of potential sweet spots. UNDERSTAND FRACS’ EFFICIENCY The new data obtained from laboratory core analysis indicates, unsurprisingly, the high significance of shale mineralogy and geomechanical properties for understanding fracturing efficiency. The Lower Paleozoic shale appeared to be highly variable with this 36 | Shale Gas Investment guide | Winter 2013

respect. In some zones, siliceous shale was documented (for example the Caradoc in the Łeba Elevation), while brittleness of Silurian shale is commonly based also on relatively high carbonate contents, apart of silica. The Eastern, thermally less mature parts of the basin, are usually characterized by low silica contents, as well as high clay and carbonate contents, which creates some challenges for effective fracturing and might results with suppressed gas and/or oil flows. Among new results of exploration completed so far, gas/liquids flow rates from multi-fracturing of lateral wells play a fundamental role in understanding of the basin’s potential. Commonly Drilling (completed)

obtained low flow rates are the first significant geological concern in the development of the shale gas project in Poland. The two proper production tests from lateral wells in Łebien and Syczyn are rather disappointing: 11 to 8 Mcm/d in the well located the Łeba Elevation means production is not commercial under current economic conditions. Vertical well fracturing, even if less informative, has also lead to performance much poorer than in the case of comparable fracturing in the best US shale reservoirs, owing to low net pay thickness, shale mineralogy, as well as low permeability of both shale matrix and natural fracture grid.

Drilling (ongoing)

Drilling (planned)

PHOTOGENICA

Geology

COOLED DOWN Some of new exploration data obtained so far by the industry cooled the Polish shale rush. However it is important to take into account that in many US and Canadian basins initial results were below expectations as well. With two lateral wells properly fractured we are only on the very beginning of the learning curve. The core of the Barnett, the acreage of which is an equivalent to some 1.5 to 2 Polish concession blocks, still could be theoretically located between existing new wells. Based on the first exploration results, however, we might expect significant lateral variety in reservoir quality and productivity, and thus in some less attractive parts of the basin activity will presumably soon decay. It clearly takes patience and money to complete exploration in a basin as big as in Poland. To complete just the

Completion of the exploration phase, with one lateral well tested on each of 100 concession blocks, would require investment of USD1 billion exploration phase, having at least one lateral well tested per each of roughly 100 concession blocks, would require cumulative investment higher than one billion US dollars, which has to be imagined against geological risk. Having more difficult shale reservoirs than initially anticipated, the role of

regulatory and fiscal regime becomes more important. For that reason, due to the withdrawal of a few operators from Poland, some decrease of exploration activity of majors and independents is evident, as they wait for the final shape of a new Geological and Mining Law. Only government controlled Polish operators accelerated their drilling in 2013 their rate of drilling (see chart). The final shape of the currently discussed new regulations will have a significant impact on the way where the one billion US dollars will go: to drill more wells, or elsewhere away from Poland. *Paweł Poprawa is a geologist with a focus on unconventional hydrocarbons. He works the AGH Technical University in Kraków and at Energy Studies Institute in Warsaw.

www.cleantechpoland.com

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EN V IRON M EN T AL REG U LA T ION S

Collision

Course While Poland is going to lengths to relax the procedures for environmental impact assessment of shale gas projects, the European Commission is working on a proposal to do exactly the opposite. B y W OJCIECH K OŚĆ

Foreign shale gas operators have made it a habit to criticize the effect Poland’s regulations are having on their exploration programs. They allege the red tape in combination with an unclear regulatory and taxation regime is prohibitive for shale operations. The tax is expected to be too big a weight on future revenue, and the proposed state owned operator, NOKE, doesn’t sit well with foreign owned oil and gas companies. But if there’s anything that shale gas explorers in Poland are pleased about in terms of regulatory regime, it’s the relaxed procedure for environmental impact assessment (EIA). In short, the EIA is mandatory if a project is listed on the government’s list of projects that always have a significant impact on the environment. The EIA might be made mandatory if a project is judged to have such an impact by a regional authority. The distinction is made on the basis of the European Commission’s direc38 | Shale Gas Investment guide | Winter 2013

tive on EIAs, which is currently undergoing a revision process in the European Union law making bodies, the European Parliament and the Commission itself. SIMPLE BUT SIGNIFICANT The EU’s proposal is simple but, if enters into force, will have a significant bearing on shale operations in Poland. In short, it will move all shale gas projects, regardless if they’re exploration, evaluation or production to the category of projects where an EIA procedure will be mandatory. By contrast, the change in the Polish EIA law, which took place in July 2013, to foster the development of shale gas in Poland, stated that exploratory wells drilled to a depth of no more than 5,000 metres will not require impact assessments. Until now the maximum depth was 1,000 metres, which put all exploratory wells under the EIA regime. The 5,000-meter cap will do the

opposite - exempt a great majority of them. The EIA will be mandatory in the case of wells drilled in sensitive areas, for example those that are closer than 500 metres from housing. Contrary to what the industry has to say about brewing changes to taxation and concession regimes, the EIA law update was welcome. The changes currently proposed by the EU, however, might have the industry either speed up exploration or give up on Poland altogether. Speeding operations have not yet taken place, allowing speculation that the new EIA rules, to which Poland will have to conform eventually, may spell the end of Poland’s brief affair with shale gas. A PROPOSAL TOO FAR According to the Polish ministry of environment, which is in charge of transposing and implementing EIA regulations, the EU is proposing goes

ISTOCK

Environment

much too far. According to the ministry, the EU is aiming to put bigger environmental restrictions on unconventional gas than on conventionals, while the exploratory stage in either case is similar. The EU proposal is in line with the general trend in Europe that has had shale gas projects slow down or stop altogether in a number of countries, mostly due to national law making bodies and citizens’ concern about the environmental impact of shale gas operations. In Lithuania, for example, a group of MPs has motioned for the Constitu-

tional Court to decide whether leaving residues from fracking underground was legal. In Romania, a local government banned operations to find itself in court with a regional administration. In France, there’s a blanket ban on fracking and one is likely on the cards from the newly elected German government. Poland, however, is standing firmly on the position that a successful take off of shale gas production, which the deputy ministry of environment Piotr Woźniak said would happen in 2016, is necessary for the Polish economy. This would be for a number of reasons,

The changes currently proposed by the EU might have the industry either speed up exploration or give up on Poland altogether.

according to Mr. Woźniak including a bigger energy security in a country largely relying on gas import from Russia, or as a means to move the entire energy sector away from a near complete dependence on coal. For geopolitical and commercial reasons, Poland has much to gain from a less strict interpretation of the EIA. Apart from a stricter EIA regime, the new version of the EIA directive currently in the work in the Commission, aims at strengthening the role of the public in the decision-making process. According to law firm SSW, members of the public would be entitled for a legal challenge of a shale gas project within three months after all other permitting has been completed. As a consequence, projects would not kick off until a certain times has passed for the public to state their opinion. Whether or not the stricter interpretation of the EIA will slow up exploration in Poland remains to be seen.

www.cleantechpoland.com

| 39

ADAM SOCHACZEWSKI (1969 â&#x20AC;&#x201C; 2013) The Shale Gas Investment Guide pays its respects to the late Adam Sochaczewski, teacher, geologist, and board member of Gas Plus International. 40 | Shale Gas Investment guide | Winter 2013

Faces

Faces PEOPLE

These are the faces of the individuals who today play a role in shaping shale gas exploration and production in Europe. Some are ardent proponents. Some would sooner see oil and gas stay in the ground. The SGIG would like to introduce you to a few faces you may recognize; others you may not. By SZYMON SZCZEĹ&#x161;NIAK

Kris

BogusĹ&#x201A;aw

www.cleantechpoland.com

| 41

dorota

42 | Shale Gas Investment guide | Winter 2013

piotr

Faces

Jerzy

www.cleantechpoland.com

| 43

jerzy

44 | Shale Gas Investment guide | Winter 2013

Faces

kamlesh

andrzej

nick

marcin

www.cleantechpoland.com

| 45

piotr

46 | Shale Gas Investment guide | Winter 2013

marian

Faces

jose

www.cleantechpoland.com

| 47

oisin 48 | Shale Gas Investment guide | Winter 2013

Faces

Adam Sochaczewski Formerly GAS PLUS

kris white United oilfield services

bogusław sonik european parliament

dorota flint DBM Services

piotr spaczyński ssw LAW FIRM

Jerzy Buzek european parliament

jerzy nawrocki PL. GEOLOGICAL Inst.

kamlesh parmar 3legs resources

andrzej bąk protester

nick grealy nohotair.com

marcin korolec min. of environment

piotr woźniak chief geologist

marian cichosz objector

jose bove european parliament

oisin fanning san leon energy

www.cleantechpoland.com

| 49

Readers can save 10% on their place by simply quoting CT1 when registering 4th Annual

www.eug-summit.com Pan-European speakers include:

Aligning European stakeholders to promote the commercialisation of shale gas in Europe

Mr. Maciej Grabowski, Undersecretary of State Ministry of Finance, State Ministry of Finance, Poland

Andrew Moorfield, Head of Energy EMEA, Scotiabank Global Banking and Markets, UK

Michael Gessner, Director, Ministry of Economy and Energy North Rhine Westphalia, Germany

Mine Artug, Permitting and Environmental Manager, OMV, Turkey

Francis Egan, Chief Executive Officer, Cuadrilla Resources, UK

Joachim Pünnel, Vice President, Business Unit Germany, Wintershall, Germany

Dr. Coskun Namoglu, Deputy Director of Exploration Department, TPAO, Turkey

Dr Lazzez Marzouk, Geologist, Exploration Department, Tunisian Oil Company (ETAP), Tunisia

Co-located with, from 28 - 30 January 2014, Vienna, Austria

Uniting the commercial and political worlds of natural gas

www.europeangas-conference.com

Speakers include: Hans-Peter Floren Member of the Executive Board - Responsible for Gas & Power OMV Aktiengesellschaft

Phil Murphy Vice-President Corporate Policy BG Group

Philippe Sauquet President Total Gas & Power

Marco Alverà Midstream - Senior Executive Vice President ENI

Charles Ellinas CEO Cyprus Natural Hydrocarbons Company Representation of Ministry of Energy, Commerce, Industry, and Tourism, Cyprus

Taner Yildiz Energy and Natural Resources Minister Turkey

Rune Bjornson Senior Vice President Natural Gas Statoil

Klaus-Dieter Borchardt Director DG - Energy - European Commission

For more information contact Paul Edge Paul Edge | Marketing Manager | +44 (0)207 384 8012 p.edge@theEnergyExchange.co.uk

who’s who

Shale Gas

investment

Guide

WHO’S

WHO

IN CONCESIONS/POLAND

operators l l l l l l l l l l l l l

3Legs Resources BNK Petroleum CalEnergy Chevron CNOOC ConocoPhillips Cuadrilla Resources Dart Energy DPV Service Eni ExxonMobil Hutton Energy LNG Energy

p.52 p.52 p.53 p.53 p.54 p.54 p.55 p.55 p.56 p.56 p.57 p.57 p.58

l l l l l l l l l l l l l

LOTOS Mac Oil Marathon Oil Mitsui PKN Orlen Petrolinvest PGNiG RAG San Leon Energy Sorgenia Stena Total Wisent Oil & Gas

p.58 p.59 p.59 p.60 p.60 p.61 p.61 p.62 p.62 p.63 p.63 p.64 p.64

The Who’s Who section is dedicated to unconventional resource exploration companies and their unconventional concessions exclusively. According to Polish law only one entity may be a concession holder. This is why especially in cases of JVs, dedicated holding companies are formed. We list companies as having stake in those dedicated holding companies rather than concessions themselves. Holding companies in Poland are typically limited liability companies (sp. z o.o.)

www.cleantechpoland.com

| 51

Poland CONTACT INFO

holding companies

board members

Kamlesh Parmar CEO

Lane Energy Exploration Lane Resources Poland

Kamlesh Parmar Clive Needham Paul Quirk

ul. Chmielna 13A 00-021 Warsaw (+48) 22 505 91 77 www.3legsresources.com

concessions held Name Acreage Wells (km2)

s ta k e i n Concession Interest Concession Name (%) Holder

Cedry Wielkie Stegna Godkowo Glinica-Psary Bytom-Gliwice

904

Damnica Lębork Karwia

1,038

584

809

625

ConocoPhillips

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Kraków

Katowice Zone of interest Concession area

Rzeszów

SLOVAKIA

comment: “The 2013 exploration and appraisal programme agreed with ConocoPhillips and now under way, [includes] a programme of testing of the Strzeszewo LE-1 vertical well, plus the drilling and testing of a further two or more vertical wells on the Group’s western Baltic Basin concessions.” - 2012 Corporate Annual Report

CONTACT INFO

holding companies

board members

Troy Wagner General Manager

Indiana Investments Saponis Investments

Wolf Regener Martin Robert

ul. Wiktorska 63 02-587 Warsaw (+48) 22 540 17 50 www.bnkpetroleum.com

concessions held Name Starogard Słupsk Sławno Darłowo Bytów Trzebielino

Acreage (km2)

Wells

878

919

1,154

1,152

1,169

1,167

concession area

“BNK is very excited by its drilling results to date and looks forward to accelerating its investments in Poland” Troy T. Wagner General Manager

RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Katowice Zone of interest Concession area

Kraków

Rzeszów

SLOVAKIA

comment: “BNK is awaiting the environmental impact assessment and concession modification to drill a horizontal lateral out of their Gapowo well on the Bytów concession.” - April 2013 Corporate Overview

52 | Shale Gas Investment guide | Winter 2013

Poland holding companies

board members

Peter Youngs Managing Director

CalEnergy Resources Poland

Peter Youngs Michael Sparks Robert Youngs Thomas Fielden

Al. Wilanowska 206 /19 02-765 Warsaw (+48) 22 853 01 76 www.calenergy.com s ta k e i n Concession Interest Concession Name (%) Holder Gaz Północ

49%

Lotos

“I am very pleased to have completed this transaction and looked forward to working closely with LOTOS to develop the full potential of the assets” Peter Youngs Managing Director

who’s who

CONTACT INFO

concession area Zone of interest Concession area

RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Kraków

Katowice

Rzeszów

comment: Despite having farmed in to a concession in the shale gas potential zone, CalEnergy representatives informed the Shale Gas Investment Guide of not being interested in exploring for unconventional resources. - Cleantech Poland

CONTACT INFO

holding companies

board members

John Claussen Country Manager

Chevron Polska Energy Resources

David Jones Marian Sewerski John Claussen George Psefteas Derek Magness

Aleja Wyścigowa 6 02-681 Warsaw (+48) 22 460 10 00 www.chevron.com

concession area

concessions held Name Acreage Wells (km2) Zwierzyniec Kraśnik Frampol Grabowiec

824

1,194

1,178

1,195

RUSSIA

Gdańsk

“Continued exploration drilling is planned for 2013” Supplement to the Annual Report

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Katowice Zone of interest Concession area

Kraków

Rzeszów

SLOVAKIA

comment: “The drilling of the first well in the Grabowiec concession was completed in March 2012, followed by a diagnostic fracture integrity test conducted in December 2012. As of early 2013, the results of the well are under evaluation. A first well was also drilled in the Frampol concession during 2012. Drilling of a well in the Zwierzyniec concession commenced in December 2012.” - Supplement to the 2012 Annual Report

www.cleantechpoland.com

| 53

Poland CONTACT INFO

holding companies

board members

Jarosław Raczyński General Manager

Nexen Petroleum Poland

Lewis Harvey Karen Burgess Andrew Quarles Van Ufford Jari Niemi

ul. Wiejska 17/5 00-480 Warsaw (+1) 403 470 9184 www.nexeninc.com

s ta k e i n Concession Interest Concession Name (%) Holder Kwidzyń Brodnica Orzechów Płońsk S Rypin Lidzbark Ciechanów Sokołów Pod. Siedlce

Marathon

“The Company is delighted to acquire a leading international platform through the acquisition of Nexen” Wang Yilin, Chairman of CNOOC Limited

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Kraków

Katowice Zone of interest Concession area

Rzeszów

SLOVAKIA

comment: “We strongly believe that this acquisition is a good strategic fit for us and will create long-term value for our shareholders.”- Wang Yilin, Chairman of CNOOC Limited

CONTACT INFO

holding companies

board members

Laurie St Aubin Country Manager

ConocoPhillips E&P Poland ConocoPhillips Poland BV Lane Energy Poland

Laurie St Aubin Ad Van Der Zanden Lawrence Archibald

Rondo ONZ 1 00-124 Warsaw (+48) 22 209 04 00 www.conocophillips.com

concessions held Name Damnica Lębork Karwia

Acreage (km2)

Wells

784

1,062

209

“We are hopeful that this will turn into an attractive unconventional development opportunity” Matt Fox, EVP, Exploration and Production

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Katowice Zone of interest Concession area

Kraków

Rzeszów

SLOVAKIA

comment:“We are focused now on this Baltic region. We’ve drilled there several wells already. We think that this play really could work. We’ve got one horizontal drilling, we’re learning things about how to optimize the completion, we’ve got more drilling planned in 2013 to test how this shale thickens as we move to the north.” - Matt Fox, EVP, Exploration and Production

54 | Shale Gas Investment guide | Winter 2013

Poland holding companies

board members

Marek Madeja Country Manager

Cuadrilla Poland

Francis Egan Marek Madeja

who’s who

CONTACT INFO

ul. Syrokomli 5C 03-335, Warsaw (+48) 22 818 97 95 www.cuadrillaresources.com

concession area

concessions held Name Międzyrzec P. Łuków Pionki

Acreage (km2)

Wells

1,174

628

827

“The Pionki licence in Poland will complement our ongoing exploration activities in the UK, Holland, and Hungary”

RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Kraków

Katowice

Francis Egan, CEO

Zone of interest Concession area

Rzeszów

SLOVAKIA

comment:“Cuadrilla will, in the first instance, be undertaking a 150 km 2D seismic program which is expected to be completed in the first quarter of 2013 [on the Pionki concession].”- Corporate Website

CONTACT INFO

holding companies

board members

Zbigniew Żuk Country Manager

Milejów LLP

Eytan Uliel Douglas Bain

Aleje Jerozolimskie 56C 00-803 Warsaw (+48) 22 630 22 90 www.dartenergy.com.au

concessions held Name Acreage Wells (km2) Milejów

372

“... with the 2013 planned work programme now focusing primarily on the UK, existing funds will meet the company’s needs for the next 12 months” Nick Davies, Chairman

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Katowice Zone of interest Concession area

Kraków

Rzeszów

SLOVAKIA

comment: “Other operations (India, continental Europe, certain assets in Indonesia and China) are considered non-core, and will be scaled back substantially, with a view to partnering, farming-out, selling, or exiting, in a manner that best maximises the return to the Company. Additional capital will not be deployed to these non-core operations.”- Press Release, April 2, 2013

www.cleantechpoland.com

| 55

Poland CONTACT INFO

holding companies

board members

Dmitry Kuznetsov President

DPV Service

Dmitry Kuznetsov

Nowogrodzka 50 lok. 515 00-540 Warsaw (+48) 511 490 073 www.dpvservice.pl

concessions held Name Acreage Wells (km2) Białobrzegi-R. Korczmin Lipsko Radom Opole Lub.

774

629

1,192

895

388

“We are currently realizing concession obligations - gathering 2D seismic data with the help of Geofizyka Torun and Acoustic Geofizika“ Company Website

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Kraków

Katowice Zone of interest Concession area

Rzeszów

SLOVAKIA

comment: “Based on information provided in their concessions, DPV should have had two wells completed by Q1 2013, one on Białobrzegi-Rusinów and one on Opole Lubelskie concessions.” - Cleantech Poland

CONTACT INFO

holding companies

board members

Sergio Laura Senior VP, Managing Director eni Polska

Eni Polska

Giuseppe Tannoia Roberto Castriota Sergio Laura

Al. Armii Ludowej 26 00-609 Warsaw (+48) 22 35 17 200 www.eni.com

concessions held Name Malbork Elbląg Młynary

Acreage (km2)

Wells

999

574

395

“We have drilled and extensively cored three wells, one of those has been fracked having gas at surface” Marino Astorri Regional Liaison Manager Polonia

concession area RUSSIA

Gdańsk

Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Katowice

Kraków

Zone of interest Concession area

comment: “Cores and test results are currently extensively analyzed in our lab by our dedicated team to draw a comprehensive picture of the results gathered so far.” - Marino Astorri, Regional Liaison Manager Polonia

56 | Shale Gas Investment guide | Winter 2013

LITHUANIA

Olsztyn

SLOVAKIA

Rzeszów

Poland

concessions held Name Acreage Wells (km2) Chełm

1,162

holding companies

board members

Adam Kopyść Public & Govt Affairs Advisor

ExxonMobil Exploration and Production Poland Energia Chełm

James Johnston Erik Oswald Ville Ylosjoki

who’s who

EXXONMOBIL

CONTACT INFO

Ul. Chmielna 85/87 00-805 Warsaw (+48) 22 586 18 00 www.exxonmobil.com

concession area

“It is too early to comment on the future of the Chełm concession in the Lublin Basin” Adam Kopysc

RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Kraków

Katowice Zone of interest Concession area

Rzeszów

SLOVAKIA

comment: “ExxonMobil confirms that the Ministry of Environment has approved ExxonMobil’s relinquishment applications regarding two exploration concessions in the Podlasie Basin (Legionowo and Mińsk Mazowiecki) and one, together with its partner (Total E&P Poland), in the Lublin Basin (Werbkowice).” - Adam Kopyść

CONTACT INFO

HOLDING COMPANIES

Pawel Żuk Country Manager

Strzelecki Energia David Messina Strzelecki Energia Warszawa Charles Morgan Strzelecki Energia Mazowiecka Strzelecki Energia Łukowska Strzelecki Energia Wołomin Strzelecki Prabuty Południowe

Aleje Jerozolimskie 81 02-001 Warsaw (+48) 22 695 02 70 www.huttonenergy.com

concessions held Name Acreage Wells (km2) Prabuty Poł. Koło Poddębice Łódź Zachód Oleśnica Wieluń

481

1,172

645

809

1,161

888

“We are very excited about our Jurassic prospects and awaiting approvals on the three EIAs that we have lodged with the regional environmental offices” Anna Maio

board members

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Katowice Zone of interest Concession area

Kraków

Rzeszów

SLOVAKIA

comment: “We are currently waiting on license modification approval from the MoE, which will enable us to continue our work programme with San Leon on the South Prabuty license in the Baltic, Wieluń and Oleśnica licenses in the Carboniferous.” - Anna Maio, Corporate Communications Manager

www.cleantechpoland.com

| 57

Poland CONTACT INFO David Nelson CEO

holding companies

board members

LNG Energy Limited

Dave Afseth Robert Gayton Paul Larkin Richard Green David Cohen

ul. Bagno 2/225 00-112 Warsaw (+1) 778 373 0103 www.lngenergyltd.com

s ta k e i n Concession Interest Concession Name (%) Holder Starogard

BNK

Słupsk

BNK

Sławno

BNK

Węgrów

San Leon

Iława

San Leon

concession area

“The Company is considering various alternatives to remedy its existing liquidity shortfall ...” Consolidated Financial Statement

RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Kraków

Katowice Zone of interest Concession area

Rzeszów

SLOVAKIA

comment:” The Węgrów concession terms also include the requirement to drill a well to a depth of 2,750 m by December 2013. In June 2012, the Company filed and received a renewal for the Iława concession extending the term to maximum of 5 years. This extension carries a commitment to commence drilling a well in Iława before June 2014.” - 2012 Consolidated Financial Statement

CONTACT INFO

holding companies

board members

Piotr Dąbek Strategy and Development Director

LOTOS Petrobaltic Baltic Gas

Zbigniew Paszkowicz Dariusz Wojdyński Krzysztof Sułecki

Stary Dwór 9 80-958 Gdańsk (+48) 58 301 30 61 www.lotos.pl

concessions held Name Gotlandia Gaz Północ Różewie Łeba Gaz Południe Sambia W Sambia E

Acreage (km2)

Wells

881

1,075

1,172

1,154

887

888

1,092

concession area

In reference to the PGNiG deal: “... we don’t know yet how big Lotos’ stake will be in specific concessions” LOTOS Board

(Parkiet , 2012-10-18)

Zone of interest Concession area

RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Katowice

Kraków

Rzeszów

comment: “With these types of projects [partnership with PGNiG], the investment cycle is counted in years rather than months. [2013] will be just the preparatory phase which will include additional seismic research and analysis. These costs will be in the area of tens of millions of zlotys; they won’t have a significant impact on our budget.” - LOTOS Board (Parkiet, October 18, 2012)

58 | Shale Gas Investment guide | Winter 2013

Poland

253

board members

Mac Oil (Poland)

James Fitzsimmons Christian Ceppi

ul. Domaniewska 35A / 40 02-672 Warsaw

concessions held Name Acreage Wells (km2) Gdynia

holding companies

James Fitzsimmons CEO

who’s who

MAC OIL

CONTACT INFO

concession area

Mac Oil has one shale gas concession in Poland, covering one of the country’s Bydgoszcz most important agglomerations: Poznań the Tri-city

RUSSIA

Gdańsk

RUSSIA

Gdańsk

Olsztyn

LITHUANIA

Szczecin Bydgoszcz

Olsztyn

Poznań

BELARUS

WARSZAWA Łódź

GERMANY

BELARUS

CZECH REPUBLIC

Cleantech Poland

Lublin

Wrocław

WARSZAWA Katowice

Łódź Zone of interest Concession area

Kraków

Rzeszów

LublinSLOVAKIA

comment: According to concession documentation, Mac Oil by now should have completed reprocessing of available geological data. By November 2014 100 km of 2D seismic should be shot and analyzed. This is almost half the size of the concession - Cleantech Poland

CONTACT INFO

holding companies

board members

John Porretto External Communications

Marathon Oil (Area A - J)

Carl R. Hubacher Jr.

ul. Złota 59 00-120 Warsaw (+48) 22 379 94 40 www.marathonoil.com

concessions held Name Acreage Wells (km2) Kwidzyń Brodnica Orzechów Płońsk S Płońsk SE Rypin Lidzbark Ciechanów Sokołów Pod.

1,197

1,088

1,008

360

245

670

1,046

1,186

834

concession area Name Siedlce Parczew

Acreage (km2)

Wells

740

1,003

RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Wrocław

Lublin

CZECH REPUBLIC

Katowice Zone of interest Concession area

Kraków

Rzeszów

SLOVAKIA

comment: “After an extensive evaluation of the Company’s exploration activities in Poland and unsuccessful attempts to find commercial levels of hydrocarbons, Marathon Oil has elected to conclude operations in the country. The Company is evaluating disposition options for its concessions, which had a net book value at March 31, 2013, of $12 million.” - Press Release, April 2013

www.cleantechpoland.com

| 59

Poland CONTACT INFO

holding companies

board members

Oishi Yasuhiro General Manager

Mitsui & Co. Deutschland GMBH

Katsuya Okano

Aleje Jerozolimskie 65/79 00-697 Warsaw (+48) 22 630 60 19 www.mitsui.com

s ta k e i n Concession Interest Concession Name (%) Holder Kwidzyń Brodnica Orzechów Płońsk S Rypin Lidzbark Ciechanów Sokołów Pod. Siedlce

Marathon

“Exploration activities are progressing according to plan, wells are being drilled one after the other”

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Rzeszów

Kraków

Katowice

Anna SoszynskaKalisiewicz, Mitsui

Zone of interest Concession area

SLOVAKIA

comment: Mitsui is the first and only Japanese investor in Polish shale exploration activities. They have a track record from participation in the Marcellus play in Pennsylvania. - Cleantech Poland

CONTACT INFO

holding companies

board members

Dominika Mackiewicz Senior PR Coordinator

ORLEN Upstream

Wiesław Prugar Paweł Martynek

ul. Przyokopowa 31 01-208 Warsaw (+48) 22 778 02 00 www.orlenupstream.pl

concessions held Name Acreage Wells (km2) Garwolin Lubartów Bełżyce Lublin Wierzbica Hrubieszów Sieradz Wołomin Wodynie-Łuk. Łódź

884

1,147

1,019

967

652

415

917

1,181

1,191

concession area

“The results of our preliminary geological surveys proved very promising, and so we decided to start a new exploratory well [on the Wierzbica license]” Wiesław Prugar, CEO

RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Katowice Zone of interest Concession area

Kraków

Rzeszów

SLOVAKIA

691 -

comment: ” This year, PKN ORLEN is planning to drill a number of exploratory wells, and two new locations for vertical drilling are being prepared. Further, in the first half of 2013 the Company intends to perform two hydraulic fracturing treatments in the Wierzbica and Lubartów licence areas.” - Company Website, February 22, 2013

60 | Shale Gas Investment guide | Winter 2013

Poland holding companies

Tomasz Tarnowski Communications

Silurian ECO Energy 2010

board members Bertrand Le Guern Franciszek Krok Roman Niewiadomski Maciej Wantke Marek Pietruszewski

Aleje Jerozolimskie 65/79 00-697 Warsaw (+48) 22 553 85 14 www.petrolinvest.pl

concessions held Name Acreage Wells (km2) Częstochowa Repki Siemiatycze Grudziądz Maków Maz. Chodel Opole Głubczyce Kędzierzyn K.

750

882

892

699

189

1,044

1,156

994

s ta k e i n Concession Interest Concession Name (%) Holder Lidzbark War. Węgorzewo Gołdap Kętrzyn

31.67

Wisent

31.67

Wisent

31.67

Wisent

31.67

Wisent

who’s who

CONTACT INFO

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Rzeszów

Kraków

Katowice Zone of interest Concession area

SLOVAKIA

comment: “Wisent Oil and Gas, in which Petrolinvest SA has a 31,67% stake, informed the Company of the commencement of the drilling program including two wells on the two Baltic basin concessions in north-eastern Poland. All other exploration activities where Petrolinvest has interest are progressing in accordance with concession obligations.” - Tomasz Tarnowski

CONTACT INFO

holding companies

board members

Piotr Gliniak Head of Exploration

Polskie Górnictwo Naftowe i Gazownictwo

Mirosław Szkałuba Jacek Murawski

ul. Kasprzaka 25 01-224 Warsaw (+48) 22 691 79 67 www.pgnig.pl

concessions held Name Acreage Wells (km2)

Wejherowo Kartuzy-Sz. Stara Kiszewa “172” “173” “192” “193” Warka-Urs. Ryki-Żyrzyn

Kock-Tarkawica Pionki-Kaz. Wiszniów-Tar. Tomaszów L. Bartoszyce Górowo Ił.

731

783

1,178

937

922

942

734

426

1,028

530

1,106

741

670

1,094

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Katowice Zone of interest Concession area

Kraków

Rzeszów

SLOVAKIA

comment: “ In terms of unconventional deposit exploration (shale gas) 13 wells are planned to be drilled (with an investment cost of about 500 mln PLN).” - PGNiG Press Office “The Company is proceeding towards the next step of the program: stimulating and flow testing the [Lubocino-2H] well.” - Joanna Zakrzewska, Press Officer

www.cleantechpoland.com

| 61

Poland CONTACT INFO

holding companies

Board members Markus Mitteregger Kurt Sonnleitner Michael Längle

Elisabeth Kolm Communications Schwarzenbergplatz 16 A 1015 Vienna (+43) 50724 5448 www.rag-austria.at

s ta k e i n Concession Interest Concession Name (%) Holder Starogard Słupsk Sławno

26.3

BNK

26.3

BNK

26.3

BNK

concession area

“Producing and using European mineral resources will reduce import dependence and generate economic growth in the EU”

RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Kurt Sonnleitner, CTO

Rzeszów

Kraków

Katowice Zone of interest Concession area

SLOVAKIA

comment: “A secure supply of affordable, environmentally friendly energy is crucial to maintaining industrial employment. Without secure energy supplies domestic industry has no long-term future.“ - Kurt Sonnleitner, Chief Technical Officer

CONTACT INFO

holding companies

board members

John Buggenhagen Exploration Director

Aurelian Oil and Gas Poland, Gora Energy, Helland Energy, Joyce Investments, Liesa Energy, Maryani Investments, San Leon Rawicz, San Leon Praszka, San Leon Wschowa, San Leon Czersk, Talisman Energy Polska, Oculis Energy, Wieluń LLP, Oleśnica LLP, South Prabuty LLP

Oisin Fanning Paul Sullivan John Buggenhagen Ray King Daniel Martin Jeremy Boak

ul. Mokotowska 1 00-640 Warsaw (+48) 22 378 97 00 www.sanleonenergy.com

concessions held Name Acreage Wells (km2)

Gniew Iława Węgrów Nowa Sól Wschowa Rawicz Góra Czersk Praszka

Prusice Kotlarka Gdańska W Braniewo S Szczawno Prabuty Płd. Oleśnica Wieluń

1,191

746

711

1,166

1,078

742

706

702

1,199

758

213

894

1,043

603

481

888 1,161 -

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Katowice Zone of interest Concession area

Kraków

Rzeszów

SLOVAKIA

comment: “We are very excited about our evolving relationship with Halliburton which will help us prove the huge resource potential of the Carboniferous unconventional gas play across our vast acreage position in the SW Carboniferous Basin in Poland.” - Oisin Fanning, Executive Chairman

62 | Shale Gas Investment guide | Winter 2013

Poland holding companies

Davide Bergamaschi Investor Relations Director

Sorgenia E&P

board members

who’s who

CONTACT INFO

Via Vincenzo Viviani, 12 Mi 20124 Milan (+39) 026 719 911 www.sorgenia.com

s ta k e i n Concession Interest Concession Name (%) Holder Starogard Słupsk Sławno

BNK

concession area

“High technological risk but great potential for the development of new forms of gas sourcing”

RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Rzeszów

Kraków

Katowice

Company Profile

Zone of interest Concession area

SLOVAKIA

comment: “Partnerships with BNK, RAG and LNG Energy. This collaboration guarantees specific technological know-how, operating experience/efficiency in the Shale Gas sector and compliance with the strict European standards in terms of safety and the environment. Encouraging results after the initial exploratory drillings.” - Sorgenia Group Company Profile

CONTACT INFO

holding companies

board members

Annika Hult Managing Director

Stena International SARL

Peter Claesson* Annika Hult*

26b, Boulevard Royal LU-2449 Luxembourg (+352) 26 48 67 00 www.stena.com

s ta k e i n Concession Interest Concession Name (%) Holder Lidzbark War. Węgorzewo Gołdap Kętrzyn

29.7

Wisent

29.7

Wisent

29.7

Wisent

29.7

Wisent

“Stena (...) has warrants to subscribe for additional shares which, would increase its shareholding in the Company to 35%” NRS, London Stock Exchange

* Wisent Oil and Gas board members

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Katowice Zone of interest Concession area

Kraków

Rzeszów

SLOVAKIA

comment: “The company is pleased to announce that it closed a further private placement of new equity to Stena Investment and to parties related to directors of the company. Funds raised under the placement total £7.25 million before costs.” - NRS, London Stock Exchange

www.cleantechpoland.com

| 63

Poland CONTACT INFO

holding companies

board members

Krzysztof Klinowski Senior Coordinator Shale Gas

Total E&P Poland

Martine Valeix Marcel Mars Bruno Courme

al. Jana Pawla II 80 00-175 Warsaw (+48) 22 481 94 00 www.total.com

s ta k e i n Concession Interest Concession Name (%) Holder Chełm

ExxonMobil

“It’s not with two wells that we will know. That’s the problem with non-conventionals. We find reserves almost well by well”

concession area RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Rzeszów

Kraków

Katowice

Christophe de Margerie, CEO

Zone of interest Concession area

SLOVAKIA

comment: “The only activity planned in 2013 on Chełm concession is the P&A of well Krupe -1. The process of ExxonMobil withdrawal from Chełm concession is not effective yet. There is therefore no change in the current partnership.” - Bruno Courme, Public Affairs

CONTACT INFO

holding companies

board members

Wes J. Skrobowski CEO William Marble COO

Wisent Oil & Gas

Wes J. Skrobowski William Marble

ul. Chocimska 14 A 00-791 Warsaw (+48) 22 856 10 00 wisentoilandgas.com

concessions held Name Acreage Wells (km2) Lidzbark War. Węgorzewo Gołdap Kętrzyn

895

134

621

683

concession area

“The results of the Rodele No.1 well and the initial results from Babiak No.1 should be known by the second quarter of 2013” Wes J. Skrobowski, CEO

RUSSIA

Gdańsk

LITHUANIA

Olsztyn Szczecin Bydgoszcz

Poznań

BELARUS

WARSZAWA Łódź GERMANY

Lublin

Wrocław

CZECH REPUBLIC

Katowice Zone of interest Concession area

Kraków

Rzeszów

SLOVAKIA

comment: “The Babiak No.1 well has been designed to be drilled to a TD of 2,400 metres and it is planned that, after logging, the well will be sidetracked with a horizontal section of up to 1,200 metres. A frac of between 6 and 8 stages is then planned, depending on the length of the horizontal section.” - Press Release, February 2013

64 | Shale Gas Investment guide | Winter 2013

whoâ&#x20AC;&#x2122;s who

Shale Gas

investment

Guide

WHOâ&#x20AC;&#x2122;S

WHO

IN CONCESIONS/UK

operators l Cuadrilla Resources

p.66

l Egdon

p.67

l Dart Energy

p.66

l IGas

p.67

In this issue of the Shale Gas Investment Guide, we introduce selected four companies prospecting for shale gas in the United Kingdom. Once again it seems to be up to the independent and small enterprises to prove up the acreage before IOCs show major interest in the play. Hydrocarbon exploration concessions in the UK are known as Petroleum Exploration and Development Licences, (PEDL). Older concession types, EXL and AL, are no longer being issued.

www.cleantechpoland.com

| 65

united kingdom CONTACT INFO

holding companies Cuadrilla Resources Holdings Ltd

Francis Egan CEO Cuadrilla House Stowe Court, Stowe Street Lichfield, Staffordshir WS13 6AQ (+44) 1543 266 444 www.cuadrillaresources.com

concessions held Name Acreage Wells (km2) PEDL165 EXL 269 PEDL 244 EXL 189 EXL 189 PED L247

118 5 1 15 4 1 3 1 54 -

board members Lord Browne Haroun Van Hovell John Lancaster Allan Campbell Tony Kelly Roy Franklin Francis Egan Tony Carruthers Andrew Quarles

concession area

“Cuadrilla are determined to spare no effort in meeting our exploration targets in an environmentally and socially sustainable manner” Francis Egan, CEO

Concession area

comment: “During 2013 and 2014 Cuadrilla proposes to broaden and deepen the scope of both community consultation and environment risk assessment by completing a full Environmental Impact Assessment (EIA) for each exploration well site where we seek planning consent for drilling, hydraulic fracturing and flow testing.”- Francis Egan, CEO

CONTACT INFO

holding companies

board members

John McGoldrick CEO

GP Energy Dart Energy (Europe)

Nicholas Davies John McGoldrick Eytan Uliel Martin Cooper Mark Lappin

Laurel Hill Business Park Polmaise Road, Stirling FK7 9JQ (+44) 333 800 2000 www.dartenergy.com.au

concessions held Name Acreage Wells (km2)

PEDL 012 PEDL 133 PEDL 139 PEDL 140 PEDL 200 PEDL 207 PEDL 210 EXL 288

PEDL 147 PEDL 185 PEDL 186 PEDL 187 PEDL 189 PEDL 195 PEDL 196 EXL 198 AL 010

367

100

150

120

10 10

100

concession area

75 75

75 -

Concession area

comment: “There have been recent regulatory developments in the U.K. and New South Wales, Australia which provide the regulatory framework necessary to accelerate work towards tapping unconventional gas resources in the respective countries.” - Nicholas Davies, Chairman

66 | Shale Gas Investment guide | Winter 2013

united kingdom holding companies

board members

Mark Abbott Managing Directors

EGDON RESOURCES U.K.

Mark Abbott Philip Stephens Jerry Field Walter Roberts Ken Ratcliff Andrew Lodge

The Wheat House 98 High Street, Odiham Hampshire, RG29 1LP (+44) 1256 702292

who’s who

CONTACT INFO

www.egdon-resources.com

s ta k e i n Concession Interest Concession Name (%) Holder PEDL 139 PEDL 140

Dart Energy

concession area

“RPS estimates the mean net Egdon total gas in place (“GIIP”) as 1.76 trillion cubic feet of gas (“tcf”) within the Licences” Company Website Concession area

comment: “Egdon intends to evaluate the potential of the Licences through drilling a deep exploration well, which it is hoped will be undertaken during 2014 subject to obtaining all necessary consents and approvals.” - Company Website

CONTACT INFO Andrew Austin CEO

holding companies

board members

Island Gas

Andrew Austin Stephen Bowler John Blaymires

7 Down Street London, W1J 7AJ (+44) 207 993 9899 www.igasplc.com

concessions held Name Acreage Wells (km2) PEDL 107 PEDL 116 PEDL 145 PEDL 145 N PEDL 184 PEDL 190 PEDL 193

211

102

386

296

concession area

“IGas plans to drill two wells to explore for shale in the North West before the end of 2013” Georgina Gilbert PR & Communications Concession area

comment: “Whilst we do have planning consent for exploratory drilling at our sites at Irlam and Ellesmere Port, we will complete our geological assessment before any decision is made as to where the proposed shale wells are to be drilled from.” - Georgina Gilbert, PR & Communications

www.cleantechpoland.com

| 67

Shale Gas

investment

Guide

WHOâ&#x20AC;&#x2122;S

WHO

IN CONCESIONS/GERMANY

operators l Bayerngas GMBH

p.69

l Oldenburgische Erdolgesellschaft MBH

p.70

l BEB Erdgas und Erdol GmbH & Co KG

p.69

l Rhein Petroleum GMBH

p.71

l CEP - Central European Petroleum

p.70

l RWE Dea AG

p.71

68 | Shale Gas Investment guide | Winter 2013

Germany holding companies

board members

who’s who

CONTACT INFO

Not Available

Bayerngas GMBH

Poccistr. 9 80336 München Tel.: + 49 (0) 89. 7200 0 www.bayerngas.de

concessions held Name

Acreage (km2)

concession area

Wells

Reudnitz

1 Berlin

POLAND

NETHERLANDS

BELGIUM

Bon CZECH REPUBLIC

FRANCE

POLAND SWITZERLAND

comment: According to their website, Bayerngas has become one of the few gas utilities in Germany to enter into the exploration and production sector (upstream segment). This demonstrates what municipal companies can achieve in the context of a partnership.

CONTACT INFO

holding companies

Ronny A. Hauck

board members Not Available

BEB Erdgas und Erdol GmbH & Co KG

Riethorst 12, 30659 Hannover Postfach 51 03 60, 30633 Telefon: 0511 / 6410 e-mail: info@beb.de Internet: www.beb.de

concessions held

concession area

concessions held

Acreage (km2)

Wells

Ahrensheide

429

Minden

Bramsche-Erw.

Misburg

232

Delmenhorst-Els.

-845

Munsterland-West

Name

Acreage Wells (km2)

Dummersee-Uchte Zus.

Nordrhein-Westfalen N

6,617

Hamwiede

Schaumburg-Verkl.

Harpstedt

Scholen

Herford

Simonswolde

Ibbenburen

Taaken Rest

197

Krummhorn

Unterweser

Berlin

POLAND

NETHERLANDS

Bon

BELGIUM

CZECH REPUBLIC

FRANCE POLAND SWITZERLAND

comment: According to their website, the roots of the company date back to the 19th Century. As a subsidiary of Shell and Esso (50%) BEC has become one of the leading oil and gas companies in Germany. In 2002, the affiliate BEB transferred its exploration and production activities to ExxonMobil Production Germany GmbH.

www.cleantechpoland.com

| 69

Germany CONTACT INFO A. Lammers

CEP Central European Petroleum GmbH 10178 Berlin Tel: +49 (30) 24 31 02 190 Fax: +49 (30) 24 31 02 528 E-Mail: de-info@cepetro.com

concessions held Name

holding companies CEP - Central European Petroleum GMBH

board members Not Available

concession area Acreage (km2)

Wells

Anklam

2,559

Grimmen 2

2, 016

Lubben

1,479

Ribnitz

102

Stralsund

756

Berlin

POLAND

NETHERLANDS

BELGIUM

Bon CZECH REPUBLIC

FRANCE

POLAND SWITZERLAND

comment: Central European Petroleum Ltd., registered in Alberta, Canada in 2006, and its wholly-owned affiliate, CEP Central European Petroleum GmbH, registered in Germany in 2008 (together “CEP”), were set up to pursue petroleum exploration opportunities in the European Union, initially focusing on Germany. - Corporate website

CONTACT INFO Not Available

concessions held Name

holding companies Oldenburgische Erdolgesellschaft MBH

board members Not Available

concession area Acreage (km2)

Wells

Jeverland

Munsterland

Oldenburg

5,657

Berlin

POLAND

NETHERLANDS

BELGIUM

Bon CZECH REPUBLIC

FRANCE

POLAND SWITZERLAND

comment: None available

70 | Shale Gas Investment guide | Winter 2013

Germany holding companies

Marcus Gernsbeck

board members

who’s who

CONTACT INFO

Not Available

Rhein Petroleum GMBH

Friedrichstraße 2 D-76530 Baden-Baden Tel.: +49 7221 973 72 – 16 Fax: +49 7221 973 72 – 22 www. rheinpetroleum.de

concession area

concessions held Name

Acreage (km2)

Wells

Graben-Neudorf

330

Heidelberg-Weinheim

260

Kinsau

249

Mindelheim

460

Mittlerer Oberrhein

657

Nordlicher Oberrhein

682

Schwaben-Sud grossr. Aufsuch.

2,061

Berlin

POLAND

NETHERLANDS

BELGIUM

Bon CZECH REPUBLIC

FRANCE

POLAND SWITZERLAND

comment: “The re-opening of abandoned fields is only a niche industry, but we are a part of it, and it will be rediscovered even by some of the large established commodity groups. As a small company, we have at our disposal all the same technical capacities as the big players, but we work with far less administrative expenditure.” - Michael Suana, Technical Director

CONTACT INFO

holding companies

Derek Mösche

board members Not Available

RWE Dea AG

Press Spokesperson

T+49 40 6375-2670 F+49 40 6375-3162 M+49 162 273-2670 www. rwe.com

concessions held Name

Acreage (km2)

concessions held Wells

Name

concession area

Acreage Wells (km2)

Celle

1,199

Rautenberg

2,380

Cuxhaven-Verkleinerung

1,163

Rotenburg

675

Drakenburg

Scharnhorst-Restflache

384

Grafing

Verden

380

Hahnenhorn

400

Werder

Harpen-Gas

Heide-Restflache

900

Phonix

Preetz-Restflache

762

Berlin

POLAND

NETHERLANDS

BELGIUM

Bon CZECH REPUBLIC

FRANCE

POLAND SWITZERLAND

comment: RWE Dea AG is an international oil and gas company headquartered in Hamburg, Germany. It is a subsidiary of RWE. RWE Dea owns production facilities in Germany, the United Kingdom, Norway, Denmark, and Egypt, and also holds exploration licences in Algeria, Ireland, Libya, Mauritania, Morocco, Poland,Turkmenistan and Trinidad & Tobago. - Wikipedia

www.cleantechpoland.com

| 71

Shale Gas

investment

Guide

ServicEs directory water, waste, proppant, sand, pipe, gelling agents, biocides logistics, health, safety, environment, seismic, permitting pressure pumping, casing, cementing, coil tubing, drill bits

72 | Shale Gas Investment guide | Winter 2013

DRILLING services

CO M PA N Y N A M E . . . . . PAG E

Casing & Cementing

Baker Hughes Exalo Halliburton Schlumberger

78 84 88 96

Weatherford UOS

99 98

Directional Drilling

Baker Hughes Drilltech Halliburton Exalo

78 83 88 84

Meehan Drilling Schlumberger Weatherford UOS

92 96 99 98

Drill Bits, Fluid Systems

Baker Hughes Exalo Halliburton MI-SWACO

78 84 88 92

Pruitt UOS Schlumberger

95 98 96

Drilling Tools and Services

Baker Hughes Bentec Drilltech Exalo

78 79 83 84

JSH Drilling National Oilwell Varco Pruitt

90 92 95

Engineering and Modeling

CCS Core Laboratories (Saybol Geolog ILF

80 82 87 89

Wellynx National Oilwell Varco

99 92

Arnco Hardbanding Solutions

78 88

Mud Logging

Baker Hughes Drill-Lab Exalo Geolog

78 83 84 87

GEO-data Geokrak Halliburton Schlumberger

86 87 88 96

78 88 96 99

UOS

MWD and LWD

Baker Hughes Halliburton Schlumberger Weatherford

Pipe Supply

JSH Drilling National Oilwell Varco Sumitomo Europe Tenaris

90 92 96 97

US Steel Workstrings

98 99

Rig Contracting

Discovery Drilling Exalo KCA Deutag MND Drilling

82 84 90 92

National Oilwell Varco UOS

98 98

EkoTech Energy MI-SWACO

84 92

Apex Contracting

Apex Contracting CDM Smith NTS Construction

77 80 93

Hard Banding

Waste Management

UOS Weatherford

98 99

Water Hauling

Well Pad Construction

www.cleantechpoland.com

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COMPLETIONS

CO M PA N Y N A M E . . . . . PAG E Baker Hughes Exalo Halliburton Schlumberger Weatherford UOS

78 84 88 96 99 98

Brenntag Champion Technologies DOW Dow Corning Dow Microbial MultiChem

79 80 82 83 83 92

Coil Tubing

Baker Hughes Drill-tech Halliburton Exalo Meehan Drilling Schlumberger Weatherford UOS

78 83 88 84 92 96 99 98

Equipment Supply

Baker Corp Balance Point Control Bentec C.A.T. Caterpillar Discovery Drilling Drill-Lab Drilltech

78 78 79 79 80 82 83 83

Baker Hughes Halliburton Exalo Schlumberger Tenaris Weatherford UOS

78 88 84 96 97 99 98

Baltic Ceramics Weir

78 99

AECom Apex Contracting Baker Corp CDM Smith GE Oil & Gas PP-EKO Veolia

77 77 78 80 86 95 98

Casing & Cementing

Chemicals

Pressure Pumping

Proppant Supply

Water Management

74 | Shale Gas Investment guide | Winter 2013

GE Oil & Gas ITS (Parker) JSH Drilling National Oilwell Varco Packers Plus Superior Energy Services Tech Pomp Tenaris

86 90 90 92 93 97 97 97

UOS Weir Workstrings

98 99 99

3rd PARTY SERVICES services

CO M PA N Y N A M E . . . . . PAG E

Basin Modeling

Argo Baker Hughes GEO-Data Geokrak

77 78 86 87

Construction of Well Pads Construction of Roads

Apex Contracting CDM Smith NTS Construction

77 80 93

PWC Trinity Corporate Services

95 98

Argo ION GEO-Data Geokrak

77 89 86 87

Cleantech Poland

AECom CDM Smith Golder & Associates GSE Environmental

77 80 88 88

DBM Services

Argo Baker Hughes GEO-Data Geokrak

77 78 86 87

HAYS IP Group

89 89

Land Man

Apex Contracting CDM Smith IP Group

77 80 89

Permitting

Apex Contracting CDM Smith IP Group

77 80 89

Acoustic Geophysical Apex Contracting ION Geofizyka Krak贸w

77 77 89 87

Bireta

Corporate Services

Data Services

Due Dilligence Equity Fundraising

Environmental Services

Geomage Kidova Pangea Serafim

87 90 94 96

Geofizyka Krak贸w Geofizyka Torun Geolog Geomage

87 87 87 87

Inwatec PP-EKO URS Veolia Water

89 95 98 98

Geomage Kidova Pangea Serafim

87 90 94 96

Geofizyka Torun IP Group ION UOS

87 89 89 98

Geotrace Kidova Pangea PFC Energy

87 90 94 95

Facilities Management

Geological Analysis

Human Resources

Seismic Services

Technical Translation

www.cleantechpoland.com

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SE R V I C E S D I R ECTORY* Abbot Group Acoustic Geophysical (Viking) AECom Apex Contracting Archer Well - Allis Chalmers Argo Geological Consultants Arnco AVISHIP Baker Corp Baker Hughes Balance Point Control BV Baltic Ceramics BDP International Bentec Bireta Brenntag C.A.T. C.H. Robinson Caterpilar CB&I CDM Smith Cleantech Poland Champion Technologies Continuous Control Sols (CCS) Core Laboratories DBM Services dGB Earth Sciences Discovery Drilling Equipment DNV DOW Dow Corning DOW Microbial Control Drill-Lab (PGNiG) Drilltech Duon Efir Energy LTd EkoTech Energy Energy Specialists Plat (ESP) Ensign EurMidstream Exalo Drilling Expro Fairstar Heavy Transport Fugro GE Oil & Gas Geo-Microbial Tech (GMT) GEO-Data GeoDynamics Research Geofizyka Kraków (PGNiG) Geofizyka Torun (PGNiG) Geokrak

77 77 77 77 77 77 78 78 78 78 78 78 79 79 79 79 79 79 80 80 80 80 80 80 82 82 82 82 82 82 83 83 83 83 83 83 84 84 84 84 84 84 86 86 86 86 86 86 87 87 87

76 | Shale Gas Investment guide | Winter 2013

GeoLog Geomage Geotrace Data Int Services GL Noble Denton Global Geophysical Golder Associates GSE Environmental Halliburton Hardbanding Solutions HAYS ILF Consulting Engineers IP Group INiG (PGNiG) Inwatec ION ITS (Int Tubular Serv) JSH Drilling, Ltd. KCA DEUTAG Kidova Linde Gaz Polska Maxi Cargo Meehan Drilling MI-SWACO MND Drilling Multi-chem NADRA Group National Oilwell Varco Navigant Neste Jacobs NTS Construction NuTech Energy Pace Global Energy Packers Plus Pangea PanTerra Geo PBG Geophysical Perekop Bromine Perforator Petrofac PFC Energy PP- Eko Pruitt ProChem PwC Rodelta Pumps Schlumberger SERAFIM SGS SIMCO International Spirit Technologies Sumitomo Europe

87 87 87 88 88 88 88 88 88 89 89 89 89 89 89 90 90 90 90 90 90 92 92 92 92 92 92 93 93 93 93 93 93 94 94 94 94 94 94 95 95 95 95 95 95 96 96 96 96 96 96

a n alys t ' s V IE W

P A R K ER S N Y D E r D IRE C To r , C l e a n t e ch P ola n d

It’s official. The slowdown in Poland

has caused kit to move to other markets. Weatherford sent equipment to Lithuania, moved their Poland country manager to Romania. Halliburton and Schlumberger have reassigned their country managers. Baker Hughes country manager is now based out of Germany. Poland is no longer the focus. These shifts reflect the fact that there’s little drilling activity. Equity backed UOS won its first pumping contract, although the job was basically awarded at cost. Elsewhere in Europe, drilling is slow to pick up. The UK shows the most promise; Cuadrilla is most active. (see chart) Germany could take off. Exxon has some 50 wells planned and could commence after national elections. Romania and Ukraine will move slowly along. Parker Snyder (+48) 517 469 881 Parker@cleantechpoland.com

SSW Tata Steel Group Tebodin TECH-POMP Tenaris TPS - Technitube Röhrenwerke Trinity Corporate Services United Oilfield Services URS US Steel Vallourec Veolia Water Systems Weatherford Weir Oil & Gas Division Wellynx Workstrings

97 97 97 97 97 97 98 98 98 98 98 98 99 99 99 99

* The companies listed do business in Europe. If your company is not listed, or the information is incorrect, please contact us at info@cleantechpoland.com

Abbot Group

S ERV I C E S P EC I A L IT Y

Construction, drilling

CO U NTRY ACTI V IT Y

Global

A D D RE S S

KCA DEUTAG Drilling GmbH Germany

CO NTACT

services

CO M PA N Y NAME

(+44) 122 429 9600

Abbot Group is an oil and gas services company based in Aberdeen, Scotland. The Abbot Group employs more than 8,000 people in over 20 countries and has two operating divisions, KCA DEUTAG and Bentec, which provide drilling and related well and facilities engineering services to the energy industry. Abbot Group has a presence in the North Sea and operates in locations such as Russia, the Middle East, Caspian Region, North and West Africa, and Asia.

Acoustic Geophysical (Viking)

Seismic services

CEE

Ul. Chłodna 11 lok. 425 00 - 891 Warsaw Poland

infohouston@ acousticgeo.com

Acoustic Geophysical Services provides acquisition services for land seismic projects. Viking Services B.V. (Viking) announced the completion of its acquisition of Acoustic Ventures, LLC (Acoustic Geophysical Services) in late 2012. In a company statement, AGS said they will continue to provide seismic acquisition services in eastern and central Europe.

AECom

General services

Global

Ambassador Building Domaniewska 34a Warsaw 02-672, Poland

(+48) 228 220 051 jarek.karpiejuk@aecom. com

AECOM is a global provider of technical and management services in transportation, facilities, environmental, energy and water. AECOM has 45,000 employees in 140 countries and 2013 revenue of $8.2 billion. If you’d like, you can follow AECOM on Twitter at @AECOM. Good to know: the Poland office was awarded a Chevron contract in 2013.

APEX Contracting

Seismic, compensation, permitting

Poland, Iraq

Rondo ONZ, 2nd floor, 00-124 Warsaw Poland

Norbert (+48) 601 999 345 Eric (+48) 503 861 695 apexcontracting.pl

Archer Well Allis Chalmers

Integrated oilfield services

UK, Denmark, Norway - Global

Damsgårdsveien 135 5160 Bergen Norway

(+47) 55 51 15 00 www.archerwell.com

Archer is a global oilfield service company that specializes in production drilling, unconventionals, well intervention and well integrity. Archer employs 8,300 people. The name “Allis-Chalmers” is the name of the former company, the Allis-Chalmers Manufacturing Company. In February 2011, Allis-Chalmers Energy merged with Seawell to form specialist drilling and well service company Archer.

Argo Geological Consultants

Seismic services

Netherlands

Bachlaan 46 3706 BD Zeist The Netherlands

(+31) 306 959 150 info@argo-geoscience. com

Argo Geological Consultants offer geo-scientific services to the oil and gas industry. Formed in 1987, Argo consultants perform the following services: seismic interpretation, geological and geophysical mapping, stratigraphic prediction, reservoir modeling, and E&P team support. Argo Consultants can be seconded to the client office.

www.cleantechpoland.com

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CO M PA N Y NAME

Arnco

S ERV I C E S P EC I A L IT Y

Hardbanding

CO U NTRY ACTI V IT Y

Global

A D D RE S S

Aberdeen, UK

CO NTACT

(+44) 774 028 0302

Arnco Technology Trust, Ltd. - Arnco - does hardbanding in a history that dates to 1946 when its founder Roman F. Arnoldy developed and patented a hardfacing alloy. Arnco Technology has products to improve drill string performance and casing wear protection. Consider the product for extreme conditions in deeper, more critical, directional and horizontal extended reach wells.

AVISHIP

Logistics (maritime)

France

Bat D3, 135 Av Pierre Semard, 84000 AVIGNON, France

(+33) 490 480 127 office@aviship.com

AVISHIP is dedicated to maritime transportation of project cargo, breakbulk and heavylifts. AVISHIP has a 10 year history providing lifting and maritime transport, consulting expertise and services in maritime engineering and brokerage. The company works in the energy, oil and gas industries, in projects related to civil engineering, offshore drilling and marine infrastructure.

Baker Corp

Liquids and sludge storage

North America, Europe

North Lincolnshire, DN20 8UN, UK

(+44) 330 333 2611 mhiggins@bakercorp.com

Baker Corp provides containment, pumping and filtration equipment and services. Baker Corp provides temporary steel storage tanks to the oilfield industry. The company has 100 locations in the U.S.A. and operators internationally in Europe, Canada and Mexico. Markets include chemical, manufacturing, refining, oil and gas, construction, municipal, industrial services, environmental remediation and wastewater.

Baker Hughes

All integrated well services

Global

(+44) 203 320 4900 jens. rodiek@bakerhughes.com

Baker Hughes is an oilfield services company. Baker Hughes operates in 90 countries, providing drilling, formation evaluation, completion, production and reservoir consulting services. Baker Hughes has its headquarters in the America Tower in the American General Center in Houston. Baker Hughes Incorporated was formed when Baker International and Hughes Tool Company merged in 1987.

Balance Point Control BV

Balanced pressure and wireline services

UK, Germany, Netherlands

Karel Doormanstraat 4 7825 VT Emmen The Netherlands

(+31) 591 667 687 info@bpc.nl

Balance Point Control (BPC) provides hydraulic work over, snubbing, well control, engineering, wireline and rental services. Equipment includes Space Saver 385K, 340K Unit, 600K Unit, HWT 600K, Pulling Units, Casing Jack and Wireline Unit. Projects include water production shut off, straddle recovery, safeguarding a blown out well and securing a chemically contaminated well.

Baltic Ceramics

Proppant

Poland

ul. Reymonta 7 68 - 300 Lubsko Poland

(+48) 22 654 66 14 office@balticceramics. com

Baltic Ceramics retails proppants and other products used in the extraction of hydrocarbons from unconventional oil and gas formations. Baltic Ceramics is the first proppant distributor on the Polish market, and aims to build a large production facility through both private and public funding sources

78 | Shale Gas Investment guide | Winter 2013

BDP International

S E RV I C E S P EC I A L I T Y

Logistics

CO U N T RY ACT I V I T Y

Global

ADDRESS

ul.Osmanska 5 02-823 Warsaw Poland

CO N TACT

SERVICES

CO M PA N Y NAME

(+48) 22 544 1721 bdpinternational.com

BDP provides logistics services: air, ocean and ground - through the use of subsidiaries throughout Europe. In Poland they work with POL-MARE, ul. 17 Stycznia 32 lok. 2/8 02-148 Warsaw and C.E. TRANSPORT POLAND SP. z o.o., ul. Osmanska 5, 02-823 in Warsaw. The company is privately owned and located in Philadelphia, Pennsylvania in the U.S.A.

Bentec

Rig and drill manufacturer (Europe, Middle East)

Europe, Middle East

Deilmannstraße 1 48455 Bad Bentheim Germany

(+49) 592 272 80 info@bentec.com

Bentec is a manufacturer of drilling rigs and oilfield equipment worldwide with 125 years of history. A vertically integrated provider, drilling solutions include engineering, design and manufacturing customized drilling rigs, drilling components and electrical control systems. They can provide 24/7 field support and repair or overhaul rigs globally.

Bireta

Translation

Poland

ul. Bronikowskiego 3/1 02-981 Warsaw Poland

(+48) 22 648 55 77 bireta@bireta.pl

Brenntag

Chemical distribution

Global

Ul. Kwasowa 5 95-100 Zgierz Poland

(+48) 61 89 36 510 www. brenntag.pl

Brenntag is a chemical distributor headquartered in Germany. Brenntag operates a global network in 70 countries employing 13,000 and generating sales of €9.7 billion in 2012. Brenntag links chemical manufacturers to users with 10,000 products and could be market leader in Europe.

C.A.T.

Oilfield equipment, tubing, proppant

Europe

Celle, Vorbruch 6 29227, Germany

(+49) 5141 9895 0 info@consulting-agencytrade.com

C.A.T. is a designer, manufacturer and marketer of oilfield equipment. A 20 year history, C.A.T.’s product lines include equipment for well stimulation, well workover and service, including drilling, coiled tubing, nitrogen pumping, cementing, acidizing and sand control equipment. Headquartered in Celle, Germany C.A.T. is vertically integrated: C.A.T. Construction GmbH, TACROM Service S.R.L., and TACROM Drilling S.R.L. among its sister companies.

C.H. Robinson

Logistics, supply chain management

Global

Al. Jana Pawła II 29 Warsaw, Poland

(+48) 22 653 65 30 tom.sullivan@chrobinson. com

WWW.CLEANTECHPOLAND.COM

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CO M PA N Y NAME

Caterpillar

S ERV I C E S P EC I A L IT Y

Machine construction

CO U NTRY ACTI V IT Y

Global

A D D RE S S

100 NE Adams Street Peoria, Illinois 61629, USA

CO NTACT

(+1) 309 675 1000 www.cat.com

Caterpillar provides equipment and services to the oil and gas industry including gas compression, land and offshore drilling, well servicing, work over rigs, mechanical drives for cranes, fire pumps, fracturing, pressure pumps, generator sets, power modules. Claims to be one of the market leaders in gas compression, drilling, and well servicing products.

CB&I

Technology, procurement and construction

Global

Oostduinlaan 75 2596 JJ The Hague

(+31) 703 732 010 www.cbi.com

CB&I is a large multinational conglomerate engineering, procurement and construction (EPC) company. CB&I specializes in projects for oil and gas companies. According to one of the founder’s heirs, “Chicago Bridge & Iron isn’t in Chicago, doesn’t build bridges and doesn’t use iron.” CB&I employs approximately 50,000 persons.

CDM Smith

Consulting, engineering, construction, permitting and operations

Global

Ul. Stawki 40 01- 040 Warsaw Poland

(+48) 225 519 300 warsaw@cdmsmith.com

CDM Smith provides services in water, environment, transportation, energy and facilities. An engineering and construction firm, CDM Smith is employee-owned with its headquarters in Cambridge, Massachusetts in the U.S.A. In Poland, the company provides environmental, construction and project management services to the oilfield and power sectors.

Champion Technologies

Chemicals

Global

3200 Southwest Freeway, Suite 2700 Houston, TX USA

(+1) 713 627 3303 www.champ-tech.com

Champion Technologies is a specialty chemical company with 3,200 employees in 100 locations in more than 50 countries delivering to upstream and midstream oil and gas markets. Champion Technologies, from its roots in West Texas, provides services in offshore/deepwater, Arctic, heavy oil, oil sands, EOR, refinery, shale gas and oil, and industrial facilities.

Cleantech Poland

Equity fundraising, commercial due dilligence

Poland

Ul. Krucza 51/31 00-022, Warsaw Poland

+48 517 469 881 info@cleantechpoland. com

Cleantech Poland (CTP) is due-diligence consultancy and media platform for sustainable business. CTP advises upstream oil and gas clients and produces the Shale Gas Investment Guide, a magazine about the development of Poland’s shale basins. CTP raises investment equity for upstream clients and advises international companies on market entry strategies.

Continuous Control Solutions (CCS)

Control systems & engineers

Global

11275 Aurora Ave Des Moines, IA USA

(+1) 515 278 9655 bshcharansky@ccsia.com

CCS provides the design, implementation and commissioning of control systems for industrial turbines, compressors and process applications. CCS turbo machinery systems control gas turbines, steam turbines, expanders, compressors, pumps and generators for use in speed control, load control, surge prevention control, among other processes.

80 | Shale Gas Investment guide | Winter 2013

PHOTO: SSW

advertorial

Planned amendments in the Polish legislation may result in a violation of the country’s obligations under investment treaties and lead to future compensation, including lost profits.

Filip Balcerzak, As sociate, Foreign lawyer

Investments protected under international law

oland is close to adopting new legislation that will affect oilfield investments including shale gas. The changes in the regulatory framework can result in: (i) the implementation of a hydrocarbon tax of such value that it prevents profits based on expected production; (ii) the inability to secure the production concession by the entity which explored and documented a given resource, and (iii) establishing a new authority – the Polish National Fossil Fuel Operator (NOKE) whose competences include the compulsory participation in profits of an investment project without taking part in expenses. In addition, NOKE is also being given the right of veto against investment-related decisions. These measures can be considered from the perspective of international agreements on mutual support and protection of investments (“investment treaties”). Poland is a party to sixty investment treaties, which it undertook to observe certain standards to protect investors’ rights. These standards include: Fair and equitable treatment Among other aspects, this standard sets a minimum level of protection of investors’ legitimate expectations. This standard includes the expectation that the legal system of the host state is stable.

Although the fair and equitable treatment standard does not preclude any changes in legislature, radical changes of a fundamental legal framework, which in a given sector establishes the grounds for assessing profitability of an investment project, may lead to its violation.

stitute discrimination against foreign investors. Planned changes in the Polish regulatory framework, being very unusual compared to the foreign legal frameworks, may result in discriminatory treatment towards operators in the upstream industry.

Prohibition of expropriation without due compensation Under international investment law, prohibition of expropriation goes beyond direct expropriation and covers also prohibition of measures which results in something equivalent to expropriation, including acts of law. Expropriation is permitted only for reason of the public interest, under due process of law, in a non-discriminatory manner and against prompt, adequate and effective compensation.

Arbitration An investor whose rights under investment treaties have been violated can defend its rights by bringing a claim in international arbitration. It means that the actions of the respondent state are assessed in a neutral forum from the perspective of international law, without regard to decisions of the domestic courts or other authorities of the State. If any violation of these standards guaranteed in investment treaties are to be found, this may result in compensation to be paid by the state, covering the actual loss as well as lost profits. www.ssw.pl

Prohibition of discrimination Measures taken by a state cannot con-

An investor whose rights under investment treaties have been violated can defend its rights by bringing a claim in international arbitration www.cleantechpoland.com

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CO M PA N Y NAME

Core Laboratories

S ERV I C E S P EC I A L IT Y

Reservoir description and management, production enhancement

CO U NTRY ACTI V IT Y

Global

A D D RE S S

Herengracht 424, 1017 BZ Amsterdam The Netherlands

CO NTACT

saybolt.poland@corelab. com

Core Laboratories provides reservoir description, production enhancement, and reservoir management services. Core Laboratories has 70 offices in 50 countries. Core Laboratories helps clients optimize their reservoir performance and maximize hydrocarbon recovery from their production fields, billing themselves as a “reservoir optimization company.”

DBM Services

Facilities, project management, HSE, operations and logistics

Poland

02-797 Warsaw Poland

(+48) 693 131 693 info@dbmservices.pl

DBM Services, a company named after its two managing partners: Dorota Flint and Marek Cibor - and Bill Flint the President - provides facilities management services to Halliburton, and aims to expand across segments including HSE, contract management, procurement, project handover, closeout and testing/commissioning.

dGB Earth Sciences

Seismic analysis

India, Texas, Netherlands

Nijverheidstraat 11-2 7511 JM Enschede The Netherlands

(+48) 693 131 693 info@dbmservices.pl

dGB Earth Sciences is a privately owned company providing seismic interpretation solutions to the oil and gas industry since 1995. dGB operates a freemium business model. They make money by giving their software away for free, and having clients pay for commercial plug-ins and customer support.

Discovery Drilling Equipment

Drilling rigs and equipment

Global

Hanover Square 16 Hanover Square London – W1S 1HT

(+44) 207 408 9494 info@discoveryde.com

Discover Drilling is a private equipment and drilling rig manufacturing company in the oil and gas industry. Headquartered in London, with offices and representations in most major oil regions of the world including US, Canada, Middle East, Northern Africa, Russia and South East Asia. Discovery is a new name in the industry, after the company was formed by private investors on the basis of some rig/component building assets purchased in late 2008.

DNV

Consulting, risk management

Global

Ul . Skrzetuskiego 16A Warsaw, Poland

(+48) 22 543 97 60 www.dnv.com

Stiftelsen Det Norske Veritas ( DNV ) is a classification society organized as a foundation, with the objective of ”safeguarding life, property, and the environment.” The foundation was established in 1864 in Norway to inspect and evaluate the technical condition of Norwegian merchant vessels. DNV describes itself as a provider of services for managing risk.

DOW

Chemicals including lubricants and gelling agents

Global

Domaniewska 50A 02 - 672 Warsaw Poland

(+48) 228 332 222 easterneruope.dow.com

The Dow Chemical Company, commonly known as Dow, is an American multinational chemical corporation headquartered in Midland, Michigan in the USA. As of 2007, it was the second-largest chemical manufacturer in the world by revenue and in February 2009, the third-largest chemical company in the world by market capitalization. With a presence in 160 countries, it employs about 54,000 people and spends $1 billion annually on R&D.

82 | Shale Gas Investment guide | Winter 2013

Dow Corning

S ERV I C E S P EC I A L IT Y

Chemicals including emulsifiers, proppant, gelling agents

CO U NTRY ACTI V IT Y

Global

A D D RE S S

ul. Marynarska 15, 02-674 Warsaw Poland

CO NTACT

services

CO M PA N Y NAME

(+48) 228 540 320 fwrpols@dow.com

Dow Corning is an American multinational corporation headquartered in Midland, Michigan in the USA. Dow Corning specializes in silicone and silicon-based technology, offering more than 7,000 products and services. Dow Corning is an equally-owned joint venture of Dow Chemical and Corning to produce silicone sealants, adhesives, silicone mold-making rubbers, lubricants, emulsifiers and other products.

DOW Microbial Control

Chemicals including emulsifiers, proppant, gelling agents

Global

ul. Marynarska 15, 02-674 Warsaw Poland

(+48) 228 540 320 fwrpols@dow.com

Drill-Lab (PGNiG)

Mudlogging equipment and services

CEE

Ul. Krośnieńska 7, 65-958 Zielona Góra Poland

(+48) 683 238 454 dl@drill-lab.com.pl

Drill-Lab has provided geological consulting and mudlogging services to customers since 1990. Drill-lab provides custom software for mudlogging to deliver real-time data during drilling both visually and numerically to operators so they know what they’re drilling into. Equipment is supplied by Petron Industries Inc. of Houston Texas.

Drilltech

Drilling equipment rental

Global

Greenwell Road, East Tullos, Aberdeen, AB12 3AX, UK

(+44) 122 424 9988 drill-tech.pl

Drilltech Group is a specialist drilling rental tool company whose focus is supporting complex drilling such as ERD, deepwater, horizontal and HP/HT. Drilltech supplies drill strings with high torque capabilities and Spiro-Torq, a casing wear protection and torque reduction device. Achilles certified and ISO standards on equipment.

Duon

Energy trading

Poland

ul. Serdeczna 8 Wysogotowo k. Poznania 62-081 Przeźmierowo Poland

ir@duon.pl +48 61 664 18 50

DUON Capital Group sells and distributes natural gas and trades in electricity. The origins of the Group activities date back to 2000. Currently DUON is one of the leading private providers of natural gas in Poland. Since 2011, it also has been building its position on the market of electricity trading.

Efir Energy LTd

Consulting and design

Poland, CEE

469 Puławska Street Warsaw, Poland

(+48) 22 395 52 60 office@efirenergy.com

Efir Energy Sp z o.o. is a consulting company for oil and gas E&P in Poland. Services include conceptual studies, risk assessment for new projects, field development plans and help in production agreements. Run by president Piotr Gliniak under the technical supervision of Rafał Szwarc.

www.cleantechpoland.com

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EkoTech Energy

S ERV I C E S P EC I A L IT Y

Waste management, treatement, effluents

CO U NTRY ACTI V IT Y

Global

A D D RE S S

Aleje Jerozolimskie 96, 00-807, Warsaw Poland

CO NTACT

(+48) 222 755 625 info@ekotechenergy.com

EkoTech Energy is a privately company partly owned by Climate Equity Solutions. CES is an investment vehicle established in 2006 for investing in start-up companies. EkoEnergy offers technologies, products, and services aimed at the cleantech, renewable energy and waste management sectors.

Energy Specialists Platform (ESP)

General, independent consultants

Europe

Klateringerweg 6 9433 TB Zwiggelte The Netherlands

(+31) 593 33 13 30 Asperkok@bart.nl

ESP is a team of twenty employees with a technical, economic and commercial background. All employees are experienced in the oil & gas industry or have been working in the gas sales market. Most have international experience, while some are technical specialists and/or function in management. ESP works in both the upstream and downstream oil and gas markets.

Ensign

Drilling, well services, production and manufacturing

Global

400 - 5th Avenue SW Calgary, Canada

(+1) 403 262 1361

Ensign Energy Services Inc. is a land-based driller and well service provider for oil, natural gas and geothermal. Since Ensign’s launch in 1987, the Canada-based company has a drilling fleet characterized by proprietary technology such as Automated Drill Rig (ADR). With headquarters in Calgary, Alberta, Ensign’s shares are listed on the Toronto Stock Exchange under the trading symbol ESI.

EurMidstream

Midstream services

Europe

Chaussée de la Hulpe 120, 1000 Brussels Belgium

(+32) 266 317 63 anslester@eurmidstream. com

EurMidstream is in the midstream oil and gas business from an early stage production to commercial production. Services during the testing and commercialization phases: testing involves CNG trucking and gas powered electricity generation. Commercialization involves design, construction and operation of facilities: pipelines and infrastructure.

Exalo Drilling

Integrated oilfield services

Africa, Europe, India, Pakistan, Russia

Pl. Staszica 9 64-920 Piła Poland

(+48) 67 215 13 00 marketing@exalo.pl

Exalo, a Polish state owned services company, was formed by the merger of five PGNiG Group companies, Exalo Drilling is the largest service company in terms of the size of its drilling and workover fleet in the Polish onshore drilling market. Exalo works predominantly in Central and Eastern Europe, but has a presence in Asia and Africa, including Kazakhstan. A flotation on the Warsaw stock market is planned

Expro

Well testing, wireline intervention, production systems

Global

Morton Peto Rd, Great Yarmouth, Norfolk, NR31 0LT UK

(+44) 1493 600021 exprogroup.com

Expro offers well flow management. They sell products and services that measure, improve, control and process oil and gas from wells. Expro’s areas of service include exploration and appraisal, subsea safety systems, drilling/completions, flowback/clean-up, production, well integrity and intervention. 40 years, 5,000 employees, across 50 countries.

84 | Shale Gas Investment guide | Winter 2013

Well done.

Well pad construction Access road cut-in Reserve pit excavation

Karol Kolouszek (+48) 783 121 216

NTS Sp. z o.o. Rynek 26 37-500 JarosĹ&#x201A;aw POLAND

Call for a free quote

www.cleantechpoland.com

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Fairstar Heavy Transport

S ERV I C E S P EC I A L IT Y

Transport (heavy)

CO U NTRY ACTI V IT Y

Netherlands

A D D RE S S

Floor 20 3012 CN Rotterdam The Netherlands

CO NTACT

(+31) 10 403 5333 fairstar@fairstar.com

Fairstar Heavy Transport is a full subsidiary of Dockwise Ltd., a provider of marine heavy transport solutions, specializing in high-value cargoes for the offshore and onshore energy and construction industries. Fairstar owns and operates four of the most modern semi-submersible heavy transport ships in the global fleet, FJORD, FJELL, FORTE and FINESSE.

Fugro

Consulting/analysis

Global

Veurse Achterweg 10 2264 SG Leidschendam the Netherlands

(+31) 70 311 1422 holding@fugro.com

Fugro provides geotechnical, survey, subsea and geoscience services. Fugro was founded in the Netherlands in 1962 and is listed on the Amsterdam stock exchange of NYSE Euronext since 1992. Fugro was included in the AEX-index as of September 2008. Fugro employes 14,000 staff in 60 countries.

GE Oil & Gas

Water treatment, oilfield equipment

Global

Ul. Emilii Plater 53 Warsaw, Poland 00 - 113, Warsaw, Poland

(+48) 22 520 53 53

GE Oil & Gas provides equipment and services to the oil and gas industry. Products include drilling solutions: both on and offshore, subsea, enhanced oil recovery, unconventionals, LNG, power, refinery, gas storage and pipeline. 43,000 employees in 100 customers, GE is involved in the value chain from extraction to end-use.

Geo-Microbial Technologies (GMT)

Geochemical analysis

Global

BoulevardSaint Michel 75006 Paris, France

(+33) 148 103 007 gmt@gmtgeochem.com

GMT reduces the risk of drilling dry holes by identifying positive hydrocarbon signatures at the surface. To do this they provide interpretation services. The two techniques they retail are microbial oil survey technique (MOST), where soil samples are tested for hydrocarbons and sorbed soil gas analysis (SSG) testing for the absorption of gas in soils.

GEO-Data

Wellsite services, environmental consulting

Europe

Carl-Zeiss-Str. 15, 30827 Garbsen, Germany

(+49) 5131 46810 nadolny@geo-data.de

Services in mudlogging, wellsite geology, laboratory services, and core analytics partner with GeoKrak Sp z o.o. as part of an expanded suite of services (surface logging, wellsite geology, cutting & gas sampling, and isotope analytics) for the Polish market. GEO-data documents and evaluates drilling data regarding geology, drilling and hydraulic peformance.

GeoDynamics Research

Seismic services

Italy

Via Maioliche, 53 Leno Center -Rovereto Trento, Italy

(+39) 0464 75 00 95 info@geodynamics.it

G.D.R. GeoDynamics Research performs low frequency passive seismic spectroscopy to detect and monitor hydrocarbon reservoirs in exploration areas and developed fields based on GeoSpectra IPDS速, which stands for infrasonic passive differential spectroscopy. The evolution of passive seismic spectroscopy at low frequency started in 1995, and the GeoDynamics Research group was founded in 2003 in Italy.

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Geofizyka Kraków (PGNiG)

S ERV I C E S P EC I A L IT Y

CO U NTRY ACTI V IT Y

Seismic services, well logging, data interpretation

Europe, North Africa, Gulf Countries, South Asia

A D D RE S S

Ul. Łukasiewicza 3 31 - 429 Kraków, Poland

CO NTACT

services

CO M PA N Y NAME

(+48) 122 991 200 marketing@gk.com.pl

Geofizyka Kraków is a geophysical company that performs and analyzes seismic surveys. Geofizyka Kraków is a geophysical contractor, helping clients to explore hydrocarbon and geothermal. Services include seismic data acquisition, processing, interpretation, well logging and VSP services. State owned with a 50 year history.

Geofizyka Torun (PGNiG)

Seismic services, well logging, data interpretation

Europe, India, Egypt

Ul. Chrobrego 50 87 - 100 Toruń, Poland

(+48) 566 593 101 marketing@geofizyka.pl

Geofizyka Toruń provides geophysical services to the oil and gas exploration industry. The services are focused on conventional oil and gas, shale gas, geothermal deposits, and underground storage. State owned with a 50 year history, having worked in Asia, the Middle East, North Africa, Europe, and Latin America.

Geokrak

Geological services

CEE

ul. Mazowiecka 21 30 - 019 Kraków, Poland

(+48) 126 338 110 geokrak@geokrak.pl

Since 1992, providing geological services associated with deep well exploration. It offers a combined suite of services (surface logging, wellsite geology, cutting & gas sampling, and isotope analytics) with their partner firm GeoData GmbH for the Polish market. Servicing the unshore unconventionals market as it develops in Poland.

GeoLog

Surface logging

Global, Italy, Netherlands

2 Rubislaw Terrace Aberdeen AB10 1XE, Scotland

(+44) 782 156 9280 geologinternational.com

GEOLOG International B.V. (“GEOLOG”) is an oilfield services company that does surface logging. GEOLOG’s mud logging services are centered on the optimization of the overall drilling times and costs of each well and the acquisition of good data to improve formation evaluation. GEOLOG services national and international oil companies, both onshore and offshore, across more than 35 countries.

Geomage

Seismic processing

USA, Europe, Russia

11011 Richmond Ave. Suite 225,Houston, Texas 77042, USA

Geomage is a global company that provides seismic imaging technologies and services. Using an approach involving multi-focusing, geological modeling, and reservoir characterization for a diverse range of oil and gas companies. Multifocusing may be the only method able to obtain sufficient data for geological interpretation in areas characterized by complex geology, high noise or low-fold seismic data.

Geotrace Data Integration Services

Technology, data integration

Global

12141 Wickchester Lane, Suite 200Houston, Texas 77079, USA

(+1) 281 497 8440

Geotrace data integration services involves a proprietary software called Tigress. The software helps tie disparate data together and enables the data to be shared among geologists and geophysicists, petrophysicists and engineers, at every stage of the E&P workflow. Geotrace Data Integration Services is the software services and data management division of Geotrace.

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GL Noble Denton

S ERV I C E S P EC I A L IT Y

Technical service provider

CO U NTRY ACTI V IT Y

Global

A D D RE S S

Brooktorkai 18 20457 Hamburg Germany

CO NTACT

(+49) 403 614 90 glnobeldenton@gl-group. com

GL Noble Denton is a technical service provider for the oil and gas industry. GL Noble Denton designs, builds, installs and operates oil and gas onshore, maritime and offshore assets to ensure safety, sustainability and superior value. GL Noble Denton are independent advisors providing consulting, design, assurance and project execution services.

Global Geophysical

Seismic services

Global

Ul. Warowna 3/01 02 - 654 Warsaw Poland

(+48) 224 930 135 contact@globalgeophysical.com

Global Geophysical provides seismic data processing, analysis, interpretation, and data integration. Global uses proprietary and patented technologies that are ideal for processing and analyzing the full offset, rich azimuth, reservoir grade 3D datasets that our crews collect. Global Geophysical can characterize azimuthal anisotropy along with advanced time and depth imaging to extract rock properties and reservoir characteristics.

Golder Associates

Consulting, design and construction

Global

Al. SolidarnoĹ&#x203A;ci 117/700 00 - 140 Warsaw Poland

(+48) 226 280 980 akaniewska@golder.com

Golder Associates is an employee-owned company that provides consulting, design, and construction services in earth, environment, and energy. 8,000 employees operate from more 180 offices in Africa, Asia, Australasia, Europe, North America and South America. Golder serves the manufacturing, mining, oil and gas, power, urban development and infrastructure sectors. The company was founded in Toronto, Canada in 1960.

GSE Environmental

Lining

Global

Orchideengarten 30 09125 Chemnitz Germany

(+43) 725 829 201 priegl@gseworld.com

GSE retails environmental products such as geotextiles and membranes. Headquartered in Houston, GSE has manufacturing facilities in Texas, South Dakota and South Carolina. GSE laboratories are accredited by the Geosynthetic Accreditation Institute, and the company has manufacturing facilities in Chile, Germany, Thailand and Egypt. A history of 40 years and a global sales network.

Halliburton

Integrated oilfield services

Global

Ul. Emilii Plater 53, WFC 26th Floor 00-113, Warsaw, Poland

(+48) 22 470 79 00 Arne.Kvamsdal@ halliburton.com

Halliburton is one of the worldâ&#x20AC;&#x2122;s largest oilfield services companies with operations in 80 countries. It owns hundreds of subsidiaries, affiliates, branches, brands, and divisions and employs over 100,000 people. Halliburton provides a range of integrated oilfield services such as pressure pumping, wireline, coiltubing and wastewater. Some technologies are proprietary, such as clean stream that uses UV light to treat wastewater.

Hardbanding Solutions

Hardbanding, hard facing tool joints

Global

5500 W 164 TH Street, Cleveland, OH 44 142 USA

(+44) 77 474 683 45

Postle Industries designs alloys for mining, farming, agriculture, recycling and manufacturing. Hardbanding Solutions, a trade name, moved the company into drill pipe, drill collars and casing/risers. Tuffband and Duraband are two of their proprietary products, and tool joint build-up wires and a non-magnetic hardbanding are two of their strategies for toughening up oil pipe in extreme conditions.

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HAYS

S ERV I C E S P EC I A L IT Y

Human resources

CO U NTRY ACTI V IT Y

Global

A D D RE S S

ul. Złota 59 00-120 Warsaw Poland

CO NTACT

services

CO M PA N Y NAME

+48 22 584 5650 +48 22 584 5651 warsaw@hays.pl

ILF Consulting Engineers

Engineering consultancy

Global

Osmańska 12 02 - 823 Warsaw Poland

(+48) 22 430 26 00 info.waw@ilf.com

Design and consulting services in the oil and gas field are the domain of ILF Consulting Engineers. For three decades, ILF has been involved in international oil and gas projects. Among their consulting expertise, they design upstream facilities, pipelines, underground storage, tank farms, terminals, refineries and petrochemical plants.

IP Group

Seismic permitting, compensation, human resources

Poland

Ul. Elektryczna 2 00 - 346 Warsaw Poland

(+48) 604 601 050 izabela. kawczynski@interpermit. com

IP Group was founded in 2012 to provide human resources, permitting and compensation services on a government funded seismic contract. The company has expanded into human reources to the financial and insurance markets, alongside the energy markets. IP Group puts an emphasis on American style customer service.

INiG (PGNiG)

State sponsored research institute

Poland

ul. Lubicz 25A 31 - 503 Kraków Poland

(+48) 12 421 00 33 office@inig.pl

Oil and Gas Institute is one of the oldest research institutes in Poland. Its 60 year history dates from November 29, 1944, when the State Petroleum Office issued a document authorizing the establishment of the Oil Institute in Krosno. In 2008, the minister of economy incorporated the oil and gas research institute. Hydrocarbons, gas engineering and petroleum engineering are their specialties.

Inwatec

Environmental consultancy

Poland, Germany

ul. Pastewna25 02 - 954 Warsaw Poland

(+48) 22 642 95 66 biuro@inwatec.pl

INWATEC Sp. z o.o. was founded in 2003 from the merger of companies in environmental protection. The company’s activities relate to the purification of waste water. Industries include food (meat, fruits, vegetables, confectionery, dairies, breweries), chemicals (pharmaceuticals, cosmetics, textile, tanneries and electroplating) and sewage treatment.

ION

Geophysical services, seismic

Europe, North America, South America

2105 CityWest Blvd. Suite 400 Houston TX 77042-2839, USA

(+1) 281 933 3339 info@iongeo.com

ION Geophysical is a seismic services company that provides acquisition equipment, software, planning and seismic processing, and seismic data libraries to the oil & gas industry. The company’s technologies and services are used by E&P operators and seismic acquisition contractors to generate high-resolution images of the subsurface during exploration, exploitation and production operations. Headquartered in Houston, Texas, ION has offices in the United States, Canada, Latin America, Europe, Africa, Russia, China and the Middle East.

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ITS (Parker Drilling)

S ERV I C E S P EC I A L IT Y

Oilfield equipment and services

CO U NTRY ACTI V IT Y

Global

A D D RE S S

Takelaarsweg 13 1786 PR Den Helder The Nederlands

CO NTACT

(+31) 88 1307 100 europesales@its-energyservices.com

Parker Drilling (NYSE:PKD) provides advanced drilling solutions to the energy industry: drilling services, rental tools and project management, including rig design, construction and operations management. Parker’s international fleet includes 25 land rigs and two barge rigs in strategic markets, and its U.S. fleet includes 13 barge rigs in the U.S. Gulf of Mexico. Parker’s rental tools business supplies equipment to operators on land and offshore in the U.S. and select international markets.

JSH Drilling Tool Co

Drill pipes, drill collars

North America, Europe, Asia, Middle East

No.18 Shuguang Industrial Park, Jiangyan City, Jiangsu Province, P. R. China

(+86) 523 868 2188 youqingguo@shuguang. com

Jiangsu Shuguang Huayang Drilling Tool Co., Ltd. (JSH) is a joint venture which was set up by Jiangsu Shuguang Group Co., Ltd., Blue Diamond Pipe And Equipment SA (USA) and Wickander & Associates, Inc. (USA) and the holding company is Shuguang Group. The annual production capacity is 100,000 joints of drill pipe, drill collars, heavy weight drill pipes, non-magnetic drill collars, kellys, pup joints and others. The registered address is No. 18 Zhanghang Road, Baimi Town, Jiangyan City, Jiangsu Province.

KCA DEUTAG

Drilling, general

Global

Minto Drive Altens Industrial Estate Aberdeen AB12 3LW Scotland

(+44) 122 429 9600 info@uk.kcadeutag.com

KCA DEUTAG is an international oil and gas services company with headquarters in Aberdeen, United Kingdom. It has approximately 8,000 employees and operates in more than 20 countries. KCA DEUTAG is the merger of KCA Drilling and Deutag AG in 2001. The company has regional offices in Germany, Russia, the Middle East, the Caspian region, North and West Africa, Asia, Norway and across its wider operations. KCA Deutag has 61 land rigs and 39 offshore.

Kidova

Geological modeling

North America, Europe, Australia

155 avenue Roger Salengro F-92370 Chaville France

(+33)1 47 09 09 49 contact@kidova.com

Since 1993, KIDOVA specializes in oil & gas, environment (soil, groundwater, air), geothermal and nuclear or hazardous waste disposal sectors: geostatistics, spatial and spatiotemporal data analysis and modeling, characterization and upscaling of porous and naturally fractured rock properties, simulation of single and multiphase flows in porous and fractured media, mesh or grid generation and optimization. KIDOVA’s services cover structural and geological modeling, research and development, consulting and expert studies.

Linde Gaz Polska

Gases, engineering, supply chain

Poland

Al. Jana Pawła II 41a 31-864 Kraków Poland

(+48) 12 643 92 00 www.linde.pl

Maxi Cargo

Logistics

Poland

Os. E. Raczyńskiego 31/13 62 - 020 Swarzędz Poland

(+48) 61 610 10 26 biuro@maxi-cargo.pl

Maxi-Cargo company operates in the field of oversize load specialist transport, including flatbed transport. Covering the EU, Maxi-Cargo’s services include oversize load transport, non-standard transport, flatbed transport, large-size transport, transport of machines, transport of construction machinery, and transport of agricultural machines.

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services

www.cleantechpoland.com

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CO M PA N Y NAME

Meehan Drilling

S ERV I C E S P EC I A L IT Y

Drilling

CO U NTRY ACTI V IT Y

A D D RE S S

40 Kilmorey Street Newry, Co. Down BT34 2DE

CO NTACT

(+353) 28 3025 2678 info@meehandrilling.com

Meehan Drilling specializes in drilling and ground engineering services in the public, commercial, domestic and agricultural sectors. Established in 1972, the company offers a range of water development, oil & gas drilling, trenchless installations and renewable energy services with a head office in Co. Louth and a base in the UK.

MI-SWACO

Drilling fluids, completions, waste management

Global

P.O. Box 42842 Houston TX 77242 USA

(+1) 832 628 9187 questions@miswaco.slb. com

MI - SWACO offers systems and technologies for drilling, including drilling fluid systems engineered to improve drilling performance by anticipating fluids-related problems, fluid systems and specialty tools designed to optimize wellbore productivity, production technology solutions to maximize production rates, and environmental solutions that manage waste volumes generated in both drilling and production operations. M-I SWACO is owned by Schlumberger, an international oilfield services company.

MND

Drilling

Czech Republic, Slovakia, Russia, UK, Pakistan, Jemen

Velkomoravská 900/405, 696 18 Lužice Czech Republic

(+420) 518 315 555 info-ds.mnd.cz

MND Drilling is the largest drilling contractor in the Czech Republic, including oil, gas and geothermal exploration/production drilling and well workovers to the drilling and completion of underground gas storage wells. Since 1999, a member of the International Association of Drilling Contractors (IADC). Holder of the ČSN EN ISO 9001 Quality System Certificate, the ČSN EN ISO 14001 Environmental Management System Certificate and the ČSN OHSAS 18001 Health and Safety Management Certificate.

Multi-chem

Chemicals

Poland

2905 Southwest Boulevard San Angelo, TX 76904, USA

(+48) 224 707 900 jerzy.wozniak@halliburton.com

Oilfield chemical provider, owned by Halliburton, with a number of commercial, proprietary products, such as AcroClear, an acrolein based H2S scavenger and iron sulfide dissolver to remove iron sulfide in production and injection wells. Chemicals help with pipeline integrity by repairing near wellbore damage caused by iron sulfide deposits and previous acid-jobs and can be effective in removing iron sulfide based deposits on pipe or tubular surfaces thus exposing the surface area for effective corrosion inhibitor application.

NADRA Group

Geological services

Eastern Europe

41 - 49 Agiou Nikolaou NIMELI Court, Block C 3rd floor 2408, Nicosia Cyprus

office@nadragroup.com

NADRA GROUP provides exploration and development services throughout the life cycle of the field. NADRA GROUP works with production companies and governments of EU, Asian and African countries, solutions based on a study of subsoil, developed primarly in the former USSR and now used on 1/6 of the earth’s land surface.

National Oilwell Varco

Oilfield services

United States

Wierzbowa 9/11 00 - 094 Warsaw Poland

(+48) 40 729 639 686 www.nov.com

National Oilwell Varco (NOV) is an American multinational corporation based in Houston, Texas. NOV is a worldwide provider of equipment and components used in oil and gas drilling and production, oilfield services, and supply chain integration services. NOV conducts operations in over 1,160 locations across six continents, and operates through three reporting segments: rig technology, petroleum services & supplies, and distribution & transmission.

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Navigant

S ERV I C E S P EC I A L IT Y

Business advisory

CO U NTRY ACTI V IT Y

Global

A D D RE S S

5th Floor, Woolgate Exchange 25 Basinghall Street London, UK

CO NTACT

services

CO M PA N Y NAME

(+44) 20 7469 1111 inquiries@navigant.com

Navigant (NYSE: NCI) is a global expert services firm. Through senior level engagement with clients, Navigant professionals combine technical expertise in disputes and investigations, economics, financial advisory and management consulting, with business pragmatism in construction, energy, financial services and healthcare industries. Based in Chicago, Illinois, Navigant has over 40 offices across the United States, Canada, Europe and Asia. 2011 revenues were $785 million.

Neste Jacobs

Petrochemicals

Europe, North America, Middle East

Neste Jacobs Oy P.O.Box 310, FI-06101 Porvoo, Finland

(+358) 10 4581200 NJ.Info@nestejacobs.com

Neste Jacobs is a technology, engineering and services company for oil and gas, petrochemicals, chemicals and biotechnology. Nestle Jacobs has 50 years experience in technology development and industrial investment projects in Europe, North and South America, Asia and the Middle East with 1000 employees.

NTS Construction

Well pad construction Road construction

Poland

Rynek 26, 37-500 JarosĹ&#x201A;aw Poland

(+48) 16 623 22 51 k.kolouszek @stabilizacje.net

NTS offers construction services to the oilfield. With a work history in highway construction and specializing in stabilization technologies, earthwork, roadwork, preparatory and finishing work. NTS staff has twenty years experience in implementing civil engineering construction projects.

NuTech Energy Alliance

Petrophysical, geological, well studies

Global

7702 FM 1960 East, Suite 300, Houston, TX 77346

(+1) 281 812 4030 info@nutechenergy.com

NuTech is a privately-owned global oilfield services company founded in 1998 by oilfield professionals who pioneered Nuclear Magnetic Resonance research and development. Headquartered in Houston, Texas with over 80 employees, NuTech has offices in the US and internationally. NuTech has analyzed 45,000 wells in over 80 countries.

Pace Global Energy Services

Consultant services, general, management

Global

4401 Fair Lakes Court Fairfax, VA 22033 USA

(+1) 703 818 9100 info@paceglobal.com

Pace Global is an consulting and management company in commercial, technical, financial, and regulatory due dilligence. For more than 35 years and in over 60 countries. Active in managing energy assets, energy companies, funds and financial institutions, industrial and commercial facilities, and utilities.

Packers Plus

Open hole, multi-stage completions equipment

Canada, US, Middle East, Russia

Bow Valley Sq. 2, Suite 2200, 205 - 5th Ave. SW, Calgary, Canada

(+44) 791 715 4740 joel.appleton@ packersplus.com

Packers Plus Energy Services Inc. is a privately held, Calgary-based oilfield service company that provides completion equipment and services. The company specializes in multi-stage fracturing systems for open hole, horizontal wells. Multi-stage fracturing systems are used for hydraulic fracturing, or breaking up tight rock formations to enable release of oil and gas allowing for segmentation of horizontal wells into sections or stages such that they can be fractured.

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Pangea

S ERV I C E S P EC I A L IT Y

Geophysical and geological data processing

CO U NTRY ACTI V IT Y

Europe, Russia, Africa

A D D RE S S

Aleksandr Solzhenitsyn Street, 27 Moscow, Russia

CO NTACT

(+7) 495 912 6503 info@pangea.ru

PANGEA is a leading Russian consultant in the upstream oil & gas industry and a developer of high-technology software systems for geophysical and geological data processing, interpretation and modeling. PANGEA does geophysical surveys, including seismic, gravimag, electromagnetic data acquisition added by geochemical exploration services. Clients include ONGC (India), OMV (Austria), REPSOL (Spain), JOGMEC (Japan), Naftogaz India, GAIL (India).

PanTerra Geoconsultants

Seismic analysis

Global

Weversbaan 1-3 2352 BZ Leiderdorp The Netherlands

(+31) 71 581 3505 info@panterra.nl

Established in 1988, PanTerra Geoconsultants is a geoscience consultancy group providing services to the upstream oil & gas industry. PanTerra Geoconsultants BV has three operating divisions: integrated subsurface evaluations, laboratory services, including conventional and special core analysis services, production chemistry, PVT, and geoscience staff secondment.

PBG Geophysical

Exploration, geophysical services

Poland

76 Jagiellonska 03-301, Warsaw Poland

(+48) 224 864 100 pgb@pgb.com.pl

PBG LTD. offers services for exploration, engineering & environmental purposes. A Poland based company with 60 years of experience, PBG has completed work in Africa and Asia, executing contracts for oil and gas prodders, government and research agencies and private companies. Services include exploration geophysics, structural and deposit geology, although they do not do seismic exploration.

Perekop Bromine

Chemicals

CIS, CEE

Laboratornaya Str., 45 Dnepropetrovsk Ukraine

(+38) 056 787 37 00

Publicly listed BROM (Ukraine) is the only enterprise in Ukraine and the largest enterprise in CIS and Eastern Europe specializing in the production of bromine and bromides. In 2004 the company became part of Olvia, an industrial corporation, and from that time began an active revival of the company and developing new product markets, especially overseas. PJSC Brom is a major industrial facility in Ukraine.

Perforator GmbH

Completions, pressure pumping

Global

Bei dem Gerichte D-37445 Walkenried, Germany

(+49) 5525 201 28 AHentschel@perforator. de

PERFORATOR is a German manufacturer with 30 years experience. Since 2002, its the core business of the former Schmidt, Kranz mining technique as an independent company. They supply drilling products to international customers. PERFORATOR focuses on thrust boring, trench less pipe, drill pies, tools, DTH, HDD Drilling, injections systems, mining and tunelling.

Petrofac

Oilfield services

Global

4th Floor, 117 Jermyn Street London SW1Y 6HH UK

(+44) 1224 650570 patrick.odonnell @spdltd.com

Petrofac is an oilfield service company with 30 years experience. They work across the entire spectrum of the oil and gas asset life cycle, on either a stand-alone or integrated basis, under flexible commercial models which are tailored to a customerâ&#x20AC;&#x2122;s needs. Our teams: design and build oil and gas infrastructure, operate, maintain and manage assets and train personnel.

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PFC Energy

S ERV I C E S P EC I A L IT Y

Consulting services

CO U NTRY ACTI V IT Y

Global

A D D RE S S

19 rue du Général Foy 75008 Paris France

CO NTACT

services

CO M PA N Y NAME

(+33) 147 702 900 www.pfcenergy.com

PFC Energy is a global consulting firm specializing in the oil and gas industry. Our clients are oil and gas operators, national oil companies, service companies, investors, governments and other stakeholders. Energy specialists focused on the sector, with proprietary knowledge databases. Recently the company was acquired by IHS.

PP-EKO

Waste water treatment

Global

Ul. Agatowa 12 03-680 Warsaw Poland

(+48) 226 770 456

PP-EKO is an environmental engineering company based in Poland. Services include designing, consulting, technology and project management, in the field of industrial and municipal wastewater treatment, sludge processing and biodegradable wastes reduction. At work over the last few years customizing solutions for the oil and gas industry.

Prochem S.A.

Environmental protection installations

Poland

Ul. Powązkowska 44c Warsaw Poland

(+48) 223 260 100

PROCHEM is an engineering company, serving clients in the industrial, building construction and environmental protection sectors that was established in 1947. Specialized in general construction, services include technology, architecture, construction and building, road work, mechanical and electrical systems, telecommunications, and various types of large installations

Pruitt Tool & Supply

Rotating control devices

Global

9700 Aire Circle, P.O. Box 181359, Fort Smith, AR 72918, USA

(+1) 479 646 1641 www.pruittool.com

Incorporated in 1960, Pruitt Tool and Supply was an early rental tool and fishing tool company in the Arkoma Basin. Buddy Pruitt, along with his son-in-law Bob, saw the potential revenue in rotating heads, so they began to take their first steps into the rotating head business. In 1967, their initial invention would become a reality; the “Williams” rotating head was born.

PwC

Consulting, business advisory, auditing, tax, Llegal

Global

Al. Armii Ludowej 14 00 - 638 Warsaw Poland

(+48) 22 523 4000 pwcpoland@pl.pwc.com

Provides oil and gas companies advisory, tax & legal, and auditing services. PwC, a global services company, has been in Poland for 20 years and there are 46 local partners. Having analyzed the proposed mining and geological law, PwC provides up to date information about the regulatory and tax environment for shale operators.

Rodelta Pumps International

Pumps

Global

Enschedesestraat 234 7552 CM Hengelo The Netherlands

(+31) 74 245 52 00 info@rodelta.com

Rodelta Pumps International BV is a manufacturer of pumps, located in Hengelo in the Netherlands. With 60 years developing pumps, product example includes vertically-suspended, single casing volute line-shaft driven pumps whose applications include drinking water, marine, cooling water, fire fighting and whose performance flows up to 1200 m3/h, with heads up to 120 m.l.c.

www.cleantechpoland.com

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Schlumberger

S ERV I C E S P EC I A L IT Y

All integrated well services

CO U NTRY ACTI V IT Y

Global

A D D RE S S

CO NTACT

Al Jana Pawła II 25 00 - 854 Warsaw Poland

(+44) 203 320 4900 szwolan@slb.com

Schlumberger, an international oilfield service provider, was founded in 1926 by Conrad and Marcel Schlumberger. Today Schlumberger supplies the petroleum industry with services such as seismic acquisition and processing, formation evaluation, well testing and directional drilling, well cementing and stimulation, artificial lift, well completions, flow assurance and consulting, and software and information management.

SERAFIM Ltd

Consultant services, reservoir modeling

Europe

Belfast office231 Bangor Road, Holywood , Belfast BT18 0JQ United Kingdom

(+44) 28 9042 1106 future@serafimltd.com

Serafim provides reservoir analysis and financial mathematics, including production forecasting and reserves management to generate P10, P50 and P90 scenarios as input to a reserve and resource data base. Serafim PERIMETER is a range of services offered to asset managers, senior reservoir engineers and technical directors.

SGS

Inspection, testing verification

Global

1 Place des Alpes P.O. Box 2152 Geneva, 1211 Switzerland

+41 22 739 91 11

SGS is an inspection, verification, testing and certification company with 75,000 employees. SGS operates a network of more than 1,500 offices and laboratories around the world and offers services in four categories: inspection, testing, certification and verification. With experience from health care to energy, they refer to themselves as global benchmark.

SIMCO International Ltd.

Technology

CEE

Bucuresti-Domnesti 49-50 Street, Clinceni, Bucharest Romania

(+40) 744 319 001 angajari@simcoint.com

Simco International Ltd. is a software company for the oil and gas industry. They program in C++, Microsoft Visual, Borland C++ and Visual Basic, also in Delphi and Java, Oracle and MySQL. Their focus is information technology for petroleum engineering. The company’s strategy is to develop expertise in computer applications, designing original software

Spirit Innovative Technologies

Technology

Netherlands

prof. dr. Dorgelolaan 20 5613 AM Eindhoven the Netherlands

(+31) 40 23 69 445 sales@spiritIT.com

Spirit automates products and technical processes. Among their products, they focus on liquid and gas flow, supervisory (HMI/SCADA) software, virtual flow computer solution. Proprietary products include Spirit IT, Flow-X®, eXLerate®, SmartCen™, Flow-Xpert™ and more. Spirit IT is a technology partner to PETRONAS.

Sumitomo Europe

Tubular steel

Europe

Vintners’ Place 68 Upper Thames Street London, EC4V 3BJ, UK

(+44) 2072463600

Sumitomo is a trading company with headquarters in Japan. In Europe, Sumitomo has been present since 1955. Sumitomo provides casing and tubing (from carbon grade to Corrosion Resistant Alloy) with both API and premium VAM connections. Seamless, ERW and UOE welded line pipe and hot bends. Speciality tube, including a wide range of stainless and alloy grades. As well as titanium sheet and coils.

96 | Shale Gas Investment guide | Winter 2013

S ERV I C E S P EC I A L IT Y

SSW

Legal advice to oil & gas and mining entities

CO U NTRY ACTI V IT Y

Global

A D D RE S S

CO NTACT

services

CO M PA N Y NAME

(+48) 22 544 87 00 www.ssw.pl

Rondo ONZ 1 00-124 Warsaw Poland

SSW Law Firm is providing legal advice to oil & gas and mining entities. SSW experts represent entrepreneurs in concession proceedings, environmental proceedings, investment proceedings, JV and M&A transactions. They have advised industry leaders during competitive concession proceedings before the Polish authorities, in relation to most natural resources available in Poland. SSW advises trade associations and industry members on the legislative process regarding amendment of the Geological and Mining Act and the Hydrocarbons Act.

Tata Steel Group

Steel supply

Global

(+44) 207 717 4444 www.tatasteel.com

30 Millbank London, SW 1P 4 WY UK

The Tata Group has business operations (114 companies and subsidiaries) in seven defined sectors – materials, engineering, information technology and communications, energy, services, consumer products and chemicals. Tata Steel with its acquisition of Corus is in the top ten steel manufacturers. Other companies include Tata Motors, Tata Consultancy Services (TCS), Tata Communications, Tata Power, Indian Hotels, Tata Global Beverages and Tata Chemicals.

Tebodin

Consultancy & project management

Global

(+48) 22 334 41 11 info@tebodin.pl

ul. Taśmowa 7 02 - 677 Warsaw Poland

Tebodin has been on the Polish market for 20 years. Services include integrated design and complex management for industrial, commercial and infrastructural investments. Post a yearly turnover of some €25 million with 5 branch offices and 300 specialists and a total annual investment value of €500 million. Focus areas include commercial buildings, industrial projects and infrastructure works.

TECH-POMP

Electric, pneumatic, engine driven pumps

Poland

(+48) 22 612 98 25 techpomp@techpomp.pl

Al. Sztandarów 1/3 04 - 423 Warsaw Poland

Tenaris

Line pipe, coiled tubing, casing, connections

Global

(+1) 713 767 4400 www.tenaris.com

2200 W. Loop S., Suite 800 Houston, TX 77027 USA

Tenaris provides a full range of quality casing and tubing, drill pipe, premium connections, pipe accessories, sucker rods, and coiled tubing for use in all types of oil and gas drilling and well completion activities. Exceptional services based on expertise of material selection and pipe handling. From a manufacturing center in Romania, Tenaris can serve the Baltic, Lublin and Podlasie basins in Poland. Also a plant in Italy.

TPS - Technitube Röhrenwerke

Seamless pipes, welded pipes, bending

Germany

Julius-Saxler-Str. 7, 54550 Daun Germany

(+49) 65 92 7120 service@tpsd.de

TPS - Technitube Röhrenwerke is a privately owned company with production and stock facilities for tubes and pipes, oil and gas field tubular products, extended surface tubes and special piping and tubing products and accessories with 35 years experience in the supply of tubular piping products and accessories. Company headquarters is based in Germany.

www.cleantechpoland.com

| 97

CO M PA N Y NAME

Trinity Corporate Services

S ERV I C E S P EC I A L IT Y

Corporate services, HR

CO U NTRY ACTI V IT Y

Poland, Czech Republic, Romania, Bulgaria

A D D RE S S

Al. Jerozolimskie 56C 00 - 803 Warsaw Poland

CO NTACT

(+48) 223 799 440 trinity@trinitycs.com

Trinity was founded in 2004 by three professionals with broad commercial experience gained in Poland and the Central and Eastern Europe. Trinity has grown to have EUR 14 billion of client assets under our administration. Worked for a number of the foreign E&P companies in Poland and elsewhere doing commercial, tax, advisory, hiring and back office functions.

United Oilfield Services

Drilling, completions, pressure pumping

Poland

Al. Jerozolemskie123a 02 - 017 Warsaw Poland

(+48) 22 1162 300 cezary. filipowicz@uos.pl

United Oilfield Services is an oilfield service company providing hydraulic fracturing, modern drilling, and seismic data acquisition services to the European oil and gas industry. Headquartered in Poland, UOS delivers equipment, technical expertise, and local on-site crews to provide customized solutions for customers. UOS is an equity backed company that was launched in 2011.

URS

Siting, permitting, geotechnical, construction management

Europe

Ul. Rejtana 17, 02-516, Warsaw Poland

(+48) 224 273 700 ursglobal.info@urs.com

URS is an engineering and environmental consulting company throughout the UK and Ireland, Continental Europe, India, the Middle East, the Americas and Asia/Pacific regions. URS does full lifecycle services for clients across a broad range of industry sectors. In oil and gas they are present in upstream, midstream, downstream and petrochemical segments.

US Steel

Steel pipe supply

United States, Europe

Vstupny areal, 044 54 Kosice, Slovak Republic

(+421) 55 673 9536 ekbeever@sk.uss.com

Tubular products for all sectors of oil and gas industry. Extensive experiences in the North American shale markets allows US Stell to provide an unparalleled level of service. US Steel manages their supply chain from a factory and back-office in Slovakia. One of North America’s largest integrated steelmakers and the continent’s largest producer of energy tubular products.

Vallourec

Pipe and tubing

France

Ave. du Général Leclerc 27 92100 France

(+33) 1 49 09 35 00 contact@vallourec.fr

Vallourec is a manufacturer and retailer of tubular solutions serving the energy markets (oil and gas, power generation). With 22,200 employees and sales of 5.3 billion euros in 2012 – including 78% from outside Europe – Vallourec has integrated manufacturing facilities integrated in more than 20 countries. Vallourec has five research and development facilities worldwide.

Veolia Water Systems

Water treatment

Poland

Ul. Balicka 48, 30-149 Kraków, Poland

(+48) 12 423 38 66 info.poland@veoliawater. com

Veolia Water does water treatment for public authorities, including withdrawal, producing and piping drinking water. Veolia collects, conveys and treats wastewater, in order to recycle it (irrigation, watering, groundwater recharge, etc.) or release the treated water into the environment. Veolia Water conserves water resources upstream and protects release environments and ecosystems downstream.

98 | Shale Gas Investment guide | Winter 2013

S ERV I C E S P EC I A L IT Y

Weatherford

CO U NTRY ACTI V IT Y

All integrated well services

Global

A D D RE S S

CO NTACT

services

CO M PA N Y NAME

(+48) 226 451 330 eu@weatherford.com

Ul. Królewska 16 00 - 103, Warsaw Poland

Weatherford is an international oil and natural gas service company providing products and services for drilling, evaluation, completion, production and intervention of oil and natural gas wells, along with pipeline construction and commissioning. Headquartered in Switzerland, Weatherford currently operates in more than 100 countries and employs 60,000 people.

Weir Oil & Gas Division

Pumping, proppant, water and flowlines

Global

(+48) 126 328 469 sales.pl@weirminerals. com

Aleja 3 Maja 9, 30-062 Kraków Poland

Weir Oil & Gas delivers services for customers from capital projects to long term asset management contracts for continuing operations both onshore and offshore. Services range from exploration and production through transportation, refining and storage. Weir has a portfolio of high performance pumps and safety critical equipment.

Wellynx

Engineering and Consultancy services

Europe

Viale G. D’Annunzio, 267 65127 Pescara, Italy

info@wellynx.com

Wellynx is an independent Italian company providing engineering and consultancy services to O&G Companies. Founded in 2011, Wellynx is composed by professionals with sound oilfield experience in various fields such as design and engineering, operations and maintenance, quality, health, safety & environment.

Workstrings

Drilling, Pipe and procurement

Global

(+1) 337 989 9675 marketing@workstrings. com

1150 Smede Hwy Broussard, LA 70518, USA

Workstrings International is the global leading oilfield equipment rental company providing quality primary drill strings, tubing, landing strings, completion tubulars (CTM, GTM, TTM & Turbotorque™) and handling accessories using in-house engineering and cutting edge technologies. Workstrings International was created following the merger of two companies, Premier Oilfield Rentals and Workstrings LLC.

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| 99

WHO’S

WHO Unconventional Hydrocarbon Licensing in the EU-27

DENMARK, GERMANY, HUNGARY, IRELAND, LITHUANIA, THE NETHERLANDS, POLAND, ROMANIA, SLOVAKIA, SLOVENIA, SPAIN, UNITED KINGDOM.

100 100 | Shale | Shale GasGas Investment Investment guide guide | winter | Winter 2013 2013

Denmark â&#x20AC;˘ Germany Country

Dedicated License Holding Compnay (DLHC)

Interest (%)

Concessions Name

License Area (km2)

EXP. Wells 0 0 0 0

Total E&P Denmark BV Total E&P Denmark BV Total E&P Denmark BV Total E&P Denmark BV A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH Archimedes Facility-Management GMBH

20 20 80 80 100 100 100 100 100 100 100 100 100 100 100 100

L1 / 10 2 / 10 L1 / 10 2 / 10 Ananke Ganymed Io Julix Kallisto Lars Leif Lennert Loba Sabuela Sinope Ludersfeld

2,972 2,289 2,972 2,289 11

Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany

Nordsofonden Nordsofonden Total SA Total SA A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH A-TEC Anlagentechnik GMBH Archimedes Facility-Management GMBH BASF SE BASF SE BASF SE BASF SE BASF SE BASF SE BASF SE BASF SE BASF SE Bayerngas GMBH Bell Exploration LTD

Wintershall Holding GMBH Wintershall Holding GMBH Wintershall Holding GMBH Wintershall Holding GMBH Wintershall Holding GMBH Wintershall Holding GMBH Wintershall Holding GMBH Wintershall Holding GMBH Wintershall Holding GMBH Bayerngas GMBH Bell Exploration LTD

100 100 100 100 100 100 100 100 100 100 50

325 1,909 1,403 342 2,493

Germany Germany

Bell Exploration LTD Bell Exploration LTD

50 50

Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany

BNK Petroleum INC BNK Petroleum INC BNK Petroleum INC BNK Petroleum INC BNK Petroleum INC Celtique Energie GMBH Central European Petroleum LTD Central European Petroleum LTD Central European Petroleum LTD Central European Petroleum LTD Central European Petroleum LTD Concorde Energy LLC

BNK Deutschland GMBH BNK Deutschland GMBH BNK Deutschland GMBH BNK Deutschland GMBH BNK Deutschland GMBH Celtique Energie GMBH CEP - Central European Petroleum GMBH CEP - Central European Petroleum GMBH CEP - Central European Petroleum GMBH CEP - Central European Petroleum GMBH CEP - Central European Petroleum GMBH Bell Exploration LTD

100 100 100 100 100 100 100 100 100 100 100 50

Germany Germany

Concorde Energy LLC Concorde Energy LLC

Bell Exploration LTD Bell Exploration LTD

50 50

Germany Germany Germany Germany Germany Germany Germany Germany Germany

Dart Energy Europe LTD Dart Energy Europe LTD Dipl-Ing Stefan Bratschkow Dipl-Ing Stefan Bratschkow DrillTec GUT GMBH Exxon Mobil Corp Exxon Mobil Corp Exxon Mobil Corp Exxon Mobil Corp

Dart Energy Europe LTD Dart Energy Europe LTD Dipl-Ing Stefan Bratschkow Dipl-Ing Stefan Bratschkow DrillTec GUT GMBH BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG

100 100 100 100 100 100 50 50 100

Germany Germany Germany Germany Germany Germany Germany Germany Germany

Exxon Mobil Corp Exxon Mobil Corp Exxon Mobil Corp Exxon Mobil Corp Exxon Mobil Corp Exxon Mobil Corp Exxon Mobil Corp Exxon Mobil Corp Exxon Mobil Corp

BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG

50 50 50 50 50 50 50 50 100

Germany

Exxon Mobil Corp

BEB Erdgas und Erdol GmbH & Co KG

Germany Germany Germany Germany Germany Germany

Exxon Mobil Corp Exxon Mobil Corp Exxon Mobil Corp Exxon Mobil Corp GDF SUEZ SA GDF SUEZ SA

50 50 100 50 100 50

Germany Germany

GDF SUEZ SA GDF SUEZ SA

BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG GDF SUEZ E&P Deutschland GMBH Gaz de France Produktion Exploration Deutschland GMBH GDF PEG GDF SUEZ E&P Deutschland GMBH Gaz de France Produktion Exploration Deutschland GMBH GDF PEG

Achim neu Hameln Rheinland Ridderade-Ost Ruhr Schwaben Tannheim Wildes Moor Wolfenbuttel Reudnitz Bruckmuhl grossr. Aufsuchung Saulgau-Wangen Starnberger See grossr. Aufsuch. Adler Falke Falke-South Harz-Borde Wolfsburg Pillgram Anklam Grimmen 2 Lubben Ribnitz Stralsund Bruckmuhl grossr. Aufsuchung Saulgau-Wangen Starnberger See grossr. Aufsuch. Saxon I Saxon II Oberschwaben II Oberschwaben III Altenheim Ahrensheide Bramsche-Erweiterung Delmenhorst-Elsfleth Dummersee-Uchte Zusammenl. Hamwiede Harpstedt Herford Ibbenburen Krummhorn Minden Misburg Munsterland-West Nordrhein-Westfalen Nord Schaumburg-Verkleinerung Scholen Simonswolde Taaken Rest Unterweser Deidesheim Edenkoben

100 50

Germersheim Herxheimweyher

EU 27 Listing

Denmark Denmark Denmark Denmark Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany

PARENT COMPANY

889

395 1 675

991 1,055 2,003 624 624 938 2,559 2,016 1,479 102 756 675

4 1

391 1,510

429 3 845

232 6,617 1 1 197

www.cleantechpoland.com

| 101

Germany Country

PARENT COMPANY

Dedicated License Holding Compnay (DLHC)

Interest (%)

Concessions Name

License Area (km2)

Germany Germany Germany Germany

GDF SUEZ SA GDF SUEZ SA GDF SUEZ SA GDF SUEZ SA

GDF SUEZ E&P Deutschland GMBH GDF SUEZ E&P Deutschland GMBH GDF SUEZ E&P Deutschland GMBH GDF SUEZ E&P Deutschland GMBH

100 100 100 100

Germany

GDF SUEZ SA

Germany Germany

GDF SUEZ SA GDF SUEZ SA

100 50

Leer Limburgerhof

368

Germany

GDF SUEZ SA

Gaz de France Produktion Exploration Deutschland GMBH GDF PEG GDF SUEZ E&P Deutschland GMBH Gaz de France Produktion Exploration Deutschland GMBH GDF PEG GDF SUEZ E&P Deutschland GMBH

Hochstadt Hummling Jemgum Karlsruhe-Leopoldshafen Kuhardt

100

1,623

Germany Germany Germany

GDF SUEZ SA GDF SUEZ SA GDF SUEZ SA

100 100 50

Germany

GDF SUEZ SA

Maximiliansau

Germany

GDF SUEZ SA

Neulussheim

Germany Germany

GDF SUEZ SA GDF SUEZ SA

GDF SUEZ E&P Deutschland GMBH GDF SUEZ E&P Deutschland GMBH Gaz de France Produktion Exploration Deutschland GMBH GDF PEG Gaz de France Produktion Exploration Deutschland GMBH GDF PEG Gaz de France Produktion Exploration Deutschland GMBH GDF PEG GDF SUEZ E&P Deutschland GMBH GDF SUEZ E&P Deutschland GMBH

Lingen Zusammenlegung Luchow Ludwigshafen Mannheim-Kafertal

100 100

Germany

GDF SUEZ SA

Germany Germany Germany Germany

GDF SUEZ SA GDF SUEZ SA GDF SUEZ SA GDF SUEZ SA SA

Gaz de France Produktion Exploration Deutschland GMBH GDF PEG GDF SUEZ E&P Deutschland GMBH GDF SUEZ E&P Deutschland GMBH GDF SUEZ E&P Deutschland GMBH GDF SUEZ E&P Deutschland GMBH

Offenbach/Pfalz Rastatt-LichtenauRheinau II Romerberg

Germany

GeoEnergy Feldgesellschaft

100

Germany Germany

GeoEnergy Feldgesellschaft GeoEnergy Feldgesellschaft

100 100

Bietigheim Ludwigshafen

Germany

GeoEnergy Feldgesellschaft

100

Speyerdorf

Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany

100 100 100 100 100 100 100 100 100 100

Steinfeld Wesel Gas Gau-Algesheim Mainz Dasbeck Donar Hamm-Ost Hamm-Sud Hellweg Rudolf Hagenbach

100 100 100 100 100 100 100 100 100 100 100 100 100 100 100

Alstaden-Gas Altdendorf-Gas Ahsen-Gas Borussia Gas Donar Mevissen-Gas Suderwich-Gas Wilhelmine Gas Donar Herbern-Gas Norddeutschland-Gas Rheurdt-Gas Voerde-Gas Wehofen-Gas Kandel

100 100 100

Nasser Berg Teising Jade-Weser

Oldenburgische Erdolgesellschaft MBH

100

Jeverland

Oldenburgische Erdolgesellschaft MBH

100

Munsterland

Oldenburgische Erdolgesellschaft MBH

100

Oldenburg

Germany Germany Germany Germany Germany

GeoEnergy Feldgesellschaft Geologie und Bergschaden MBH GTK Geothermie Kraftwerke GMBH GTK Geothermie Kraftwerke GMBH HammGas GmbH & Co KG HammGas GmbH & Co KG HammGas GmbH & Co KG HammGas GmbH & Co KG HammGas GmbH & Co KG HammGas GmbH & Co KG HEEAG Erste Verwaltungsges MBH & Co KG GDF SUEZ E&P Minegas GMBH Minegas GMBH Minegas GMBH Minegas GMBH Minegas GMBH Minegas GMBH Minegas GMBH Minegas GMBH Mingas-Power GMBH Mingas-Power GMBH Mingas-Power GMBH Mingas-Power GMBH Mingas-Power GMBH Mingas-Power GMBH Montanes Explorationsgesellschaft MBH GDF SUEZ E&P Deuts Nasser Berg GMBH Nasser Berg GMBH Oldenburgische Erdolgesellschaft MBH Oldenburgische Erdolgesellschaft MBH Oldenburgische Erdolgesellschaft MBH Oldenburgische Erdolgesellschaft MBH Palatina GeoCon GmbH & Co KG Palatina GeoCon GmbH & Co KG Palatina GeoCon GmbH & Co KG Palatina GeoCon GmbH & Co KG Palatina GeoCon GmbH & Co KG

GeoEnergy Feldgesellschaft Bergzabern MBH GeoEnergy Feldgesellschaft Illingen MBH GeoEnergy Feldgesellschaft Speyerdorf MBH GeoEnergy Feldgesellschaft Speyerdorf MBH GeoEnergy Feldgesellschaft Steinfeld MBH Geologie und Bergschaden MBH GTK Geothermie Kraftwerke GMBH GTK Geothermie Kraftwerke GMBH HammGas GmbH & Co KG HammGas GmbH & Co KG HammGas GmbH & Co KG HammGas GmbH & Co KG HammGas GmbH & Co KG HammGas GmbH & Co KG HEEAG Erste Verwaltungsges MBH & Co KG GDF SUEZ E&P Minegas GMBH Minegas GMBH Minegas GMBH Minegas GMBH Minegas GMBH Minegas GMBH Minegas GMBH Minegas GMBH Mingas-Power GMBH Mingas-Power GMBH Mingas-Power GMBH Mingas-Power GMBH Mingas-Power GMBH Mingas-Power GMBH Montanes Explorationsgesellschaft MBH GDF SUEZ E&P Deuts Nasser Berg GMBH Nasser Berg GMBH Oldenburgische Erdolgesellschaft MBH

Steinhude-Restflache Vorhop-Sudost Wettrup-Verkleinerung Bedekaspel-Erweiterung Bergzabern

Palatina GeoCon GmbH & Co KG Palatina GeoCon GmbH & Co KG Palatina GeoCon GmbH & Co KG Palatina GeoCon GmbH & Co KG Palatina GeoCon GmbH & Co KG

50 50 50 50 50

Edenkoben Herxheimweyher Kuhardt Limburgerhof Mannheim-Kafertal

Germany

Palatina GeoCon GmbH & Co KG

Maximiliansau

Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany

102 | Shale Gas Investment guide | Winter 2013

100 100 100 100

EXP. Wells

727 402

260

475 94 490 521

9 991 54 85 84 52

991

991 106

5,657

Germany • Hungary • Ireland • Lithuania Country

PARENT COMPANY

Dedicated License Holding Compnay (DLHC)

Interest (%)

Concessions Name

Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany

Palatina GeoCon GmbH & Co KG Palatina GeoCon GmbH & Co KG Parkyn Energy Germany PEG Limited Parkyn Energy Germany PEG Limited PRD Energy GMBH PRD Energy GMBH PRD Energy GMBH RAG Anthrazit Ibbenburen GMBH Rhein Petroleum GMBH Rhein Petroleum GMBH Rhein Petroleum GMBH Rhein Petroleum GMBH Rhein Petroleum GMBH Rhein Petroleum GMBH Rhein Petroleum GMBH

50 50 100 100 100 100 100 100 100 100 100 100 100 100 100

Germany Germany Germany

Rohol-Aufsuchungs AG RWE Dea AG RWE Dea AG

100 100 100

Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany

RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWTH Aachen

RWE Dea AG RWE Dea AG RWE Dea AG RWE Power Aktiengesellschaft RWE Dea AG RWE Power Aktiengesellschaft RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWE Dea AG RWTH Aachen

100 100 100 100 100 100 100 100 100 100 100 100 100 100

Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany Germany

San Leon Energy PLC Shell PLC Shell PLC Shell PLC Shell PLC Shell PLC Shell PLC Shell PLC Shell PLC Shell PLC Shell PLC Shell PLC

San Leon Energy PLC BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG

100 50 50 50 50 50 50 50 50 50 50 50

Germany Germany Germany Germany

Shell PLC Shell PLC Shell PLC STEAG New Energies GMBH

BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG BEB Erdgas und Erdol GmbH & Co KG STEAG New Energies GMBH

50 50 50 100

Germany Germany Germany Germany

Steinadler Hydrocarbons GMBH Steinadler Hydrocarbons GMBH Steinadler Hydrocarbons GMBH Thyssen Vermogensverwaltung GMBH PVG fur Lagerstatten Uberlandwerk Gross-Gerau GMBH Hungarian Horizon Energy Hungarian Horizon Energy Hungarian Horizon Energy Hungarian Horizon Energy TXM KFT TXM KFT Hungarian Horizon Energy Hungarian Horizon Energy Hungarian Horizon Energy Hungarian Horizon Energy RAG Hungary TXM KFT RAG Hungary RAG Hungary RAG Hungary RAG Hungary Enegi Oil PLC Tamboran Resources PTY LTD

100 100 100

Germany Hungary Hungary Hungary Hungary Hungary Hungary Hungary Hungary Hungary Hungary Hungary Hungary Hungary Hungary Hungary Hungary Ireland Ireland

Steinadler Hydrocarbons GMBH Steinadler Hydrocarbons GMBH Steinadler Hydrocarbons GMBH Thyssen Vermogensverwaltung GMBH PVG fur Lagerstatten Uberlandwerk Gross-Gerau GMBH Aspect Holdings Aspect Holdings Aspect Holdings Aspect Holdings Falcon Oil and Gas LTD Falcon Oil and Gas LTD JKX Oil and Gas PLC JKX Oil and Gas PLC JKX Oil and Gas PLC JKX Oil and Gas PLC MOL NIS RAG RAG RAG RAG Enegi Oil Tamboran Resources

100 50 50 93 50 50 100 50 50 7 50 50 50 50 100 100 100 100 100

Gross-Gerau Hernad I Hernad II Sarkad I Turkeve IV Mako Tisza Hernad I Hernad II Sarkad I Turkeve IV Inke Mako Inke Kiskunhalas Kelebia Koros Clare Basin Northwest Carboniferous Basin

1,827 2,507 53 10 1,376 955 1,827 2,507 53 10 1,129 1,376 1,129 2,461 532 2,900 495 986

Lithuania

Chevron Corp

LL Investicijos

Rietavas

1,594

1,497 1,077 331 967 1,134 85 330 260 249 460 657 682 2,061 1,199 1,163

EXP. Wells

EU 27 Listing

Neulussheim Romerberg Biberach Konstanz Sittensen Steinhorst Wittmund Ibbenburen-Gas Graben-Neudorf Heidelberg-Weinheim Kinsau Mindelheim Mittlerer Oberrhein Nordlicher Oberrhein Schwaben-Sud grossr. Aufsuch. Chiemgau Celle Cuxhaven-Verkleinerung Drakenburg Grafing Hahnenhorn Harpen-Gas Heide-Restflache Phonix Preetz-Restflache Rautenberg Rotenburg Scharnhorst-Restflache Verden Werder Werder CBM-RWTH wissensch. Zwecke Aschen Bramsche-Erweiterung Delmenhorst-Elsfleth Hamwiede Harpstedt Herford Ibbenburen Krummhorn Minden Misburg Munsterland-West Schaumburg-Verkleinerung Scholen Simonswolde Unterweser Dillingen-SaarbruckenOttweiler Seeadler Steinadler Weinbergen Wesel Gas

License Area (km2)

400 900 762 2,380 675 384 380 85

64 2,741 443 450 797 395 467 1,193 232 572 1,053 549 256 789 2,636 2,636 2,165

6 1

0 0 0

www.cleantechpoland.com

| 103

Lithuania • NETHERLANDS • Poland Country

PARENT COMPANY

Dedicated License Holding Compnay (DLHC)

Interest (%)

Concessions Name

License Area (km2)

EXP. Wells

884 1,594 884 1,535 1,929 819 111

1 0 1 0 0 0 0

355 365 111 97 127 1,144 355

0 0 0 0 0 0 0

355 210 450 111 229 584 809 784 1,038 904 209 1,062 625 1,169 1,152 1,154 919 878 1,167 1,193

0 0 0 0 0

Lithuania Lithuania Lithuania Lithuania Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland

Minijos Nafta Odin Energi AS Odin Energi AS Odin Energi AS Cuadrilla Resources LTD Cuadrilla Resources LTD EBN EBN EBN Hexagon Energy Lundin Netherlands Northern Petroleum Nederland PLC Northern Petroleum Nederland PLC Northern Petroleum Nederland PLC PA Resources AB Tulip Oil Tulip Oil Vermilion Energy INC Vermilion Energy INC Vermilion Energy INC Vermilion Energy INC 3Legs Resources PLC 3Legs Resources PLC 3Legs Resources PLC 3Legs Resources PLC 3Legs Resources PLC 3Legs Resources PLC 3Legs Resources PLC 3Legs Resources PLC BNK Petroleum INC BNK Petroleum INC BNK Petroleum INC BNK Petroleum INC BNK Petroleum INC BNK Petroleum INC Canadian International Oil Corp

Minijos Nafta LL Investicijos Minijos Nafta LL Investicijos Brabant Resources BV Hardenberg Resources BV Vermilion Oil & Gas Netherlands BV Tulip Oil Netherlands BV Tulip Oil Netherlands BV Hexagon Energy BV Vermilion Oil & Gas Netherlands BV Northern Petroleum Nederland BV Northern Petroleum Nederland BV Northern Petroleum Nederland BV Tulip Oil Netherlands BV Tulip Oil Netherlands BV Tulip Oil Netherlands BV Vermilion Oil & Gas Netherlands BV Vermilion Oil & Gas Netherlands BV Vermilion Oil & Gas Netherlands BV Vermilion Oil & Gas Netherlands BV Lane Resources Poland SP ZOO Lane Energy Exploration SP ZOO Lane Energy Poland SP ZOO Lane Resources Poland SP ZOO Lane Energy Exploration SP ZOO Lane Energy Poland SP ZOO Lane Energy Poland SP ZOO Lane Energy Exploration SP ZOO Indiana Investments SP ZOO Indiana Investments SP ZOO Saponis Investments SP ZOO Saponis Investments SP ZOO Saponis Investments SP ZOO Indiana Investments SP ZOO Canadian Oil International SP ZOO

50 50 50 50 100 100 40 40 40 100 9.3 100 100 100 30 60 30 100 100 50.7 100 100 100 30 100 30 30 30 100 100 100 26.67 26.67 26.67 100 100

Poland Poland Poland Poland Poland Poland

Canadian Oil International SP ZOO Chevron Polska Energy Resources SP ZOO Chevron Polska Energy Resources SP ZOO Chevron Polska Energy Resources SP ZOO Chevron Polska Energy Resources SP ZOO Marathon Oil Area A - J SP ZOO

100 100 100 100 100 40

Marathon Oil Area A - J SP ZOO

Ciechanow

1,186

Marathon Oil Area A - J SP ZOO

Kwidzyń

1,197

Marathon Oil Area A - J SP ZOO

Lidzbark

1,046

Marathon Oil Area A - J SP ZOO

Orzechow

1,008

Marathon Oil Area A - J SP ZOO

Płońsk S

360

Marathon Oil Area A - J SP ZOO

Rypin

670

Marathon Oil Area A - J SP ZOO

Siedlce

740

Marathon Oil Area A - J SP ZOO

Sokołow Podlaski

834

Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland

Canadian International Oil Corp Chevron Corp Chevron Corp Chevron Corp Chevron Corp China National Offshore Oil Corporation LTD China National Offshore Oil Corporation LTD China National Offshore Oil Corporation LTD China National Offshore Oil Corporation LTD China National Offshore Oil Corporation LTD China National Offshore Oil Corporation LTD China National Offshore Oil Corporation LTD China National Offshore Oil Corporation LTD China National Offshore Oil Corporation LTD ConocoPhillips ConocoPhillips ConocoPhillips Cuadrilla Resources LTD Cuadrilla Resources LTD Dart Energy LTD DPV Service SP ZOO DPV Service SP ZOO DPV Service SP ZOO DPV Service SP ZOO Eni SPA Eni SPA Eni SPA Exxon Mobil Corp

Gargzdai Rietavas Gargzdai Raiseniai NOORD-BRABANT NOORDOOSTPOLDER LEMSTERLAND DONKERBROEK - MAIN SCHAGEN PEEL LEMSTERLAND ENGELEN OOSTERWOLDE UTRECHT SCHAGEN DONKERBROEK - MAIN SCHAGEN AKKRUM HEMELUM LEMSTERLAND OPMEER Bytom-Gliwice Cedry Wielkie Damnica Glinica-Psary Godkowo Karwia Lębork Stegna Bytow Darłowo Sławno Słupsk Starogard Trzebielino Ostrowiec Świętokrzyski Skarżysko-Kamienna Frampol Grabowiec Kraśnik Zwierzyniec Brodnica

70 70 70 100 100 100 100 100 100 100 100 100 100 51

Damnica Karwia Lębork Łukow Pionki Milejów Korczmin Lipsko Opole Lubelskie Radom Elbląg Malbork Młynary 319-320 Chełm

784 209 1,062 628 827 372 629 1,192 388 895 574 999 395 1,162

Poland Poland Poland Poland Poland

Grupa Lotos SA Grupa Lotos SA Grupa Lotos SA Grupa Lotos SA Grupa Lotos SA

Lane Energy Poland SP ZOO Lane Energy Poland SP ZOO Lane Energy Poland SP ZOO Cuadrilla Poland SP ZOO Cuadrilla Poland SP ZOO Milejow LLP SP ZOO DPV Service SP ZOO DPV Service SP ZOO DPV Service SP ZOO DPV Service SP ZOO ENI Polska SP ZOO ENI Polska SP ZOO ENI Polska SP ZOO ExxonMobil Exploration and Production Poland Energia Chelm SP J Lotos Petrobaltic SA Lotos Petrobaltic SA Lotos Petrobaltic SA Lotos Petrobaltic SA Lotos Petrobaltic SA

100 100 100 100 100

Gaz Połnoc Gaz Południe Gotlandia Łeba Rożewie

1,075 887 881 1,154 1,172

Poland Poland Poland Poland Poland Poland Poland Poland

104 | Shale Gas Investment guide | Winter 2013

1,198 1,178 1,195 1,194 824 1,088

1 1

3 1 1 1 1 1

1 1 1 1 1

1 1 1 1

Poland Country

Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland

Grupa Lotos SA Grupa Lotos SA Hutton Energy PLC Hutton Energy PLC Hutton Energy PLC Hutton Energy PLC Hutton Energy PLC Hutton Energy PLC LNG Energy LTD LNG Energy LTD LNG Energy LTD LNG Energy LTD LNG Energy LTD MAC OIL Marathon Oil Corp Marathon Oil Corp Marathon Oil Corp Marathon Oil Corp Marathon Oil Corp Marathon Oil Corp Marathon Oil Corp Marathon Oil Corp Marathon Oil Corp Marathon Oil Corp Marathon Oil Corp Mitsui & Co LTD Mitsui & Co LTD Mitsui & Co LTD Mitsui & Co LTD Mitsui & Co LTD Mitsui & Co LTD Mitsui & Co LTD Mitsui & Co LTD Mitsui & Co LTD Petrolinvest SA Petrolinvest SA Petrolinvest SA Petrolinvest SA Petrolinvest SA Petrolinvest SA Petrolinvest SA Petrolinvest SA Petrolinvest SA Petrolinvest SA Petrolinvest SA Petrolinvest SA Petrolinvest SA PKN Orlen SA PKN Orlen SA PKN Orlen SA PKN Orlen SA PKN Orlen SA PKN Orlen SA PKN Orlen SA PKN Orlen SA PKN Orlen SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA

Dedicated License Holding Compnay (DLHC) Lotos Petrobaltic SA Lotos Petrobaltic SA Strzelecki Energia SP ZOO Strzelecki Energia SP ZOO Oleśnica LLP Strzelecki Energia SP ZOO South Prabuty LLP Wieluń LLP Joyce Investments SP ZOO Saponis Investments SP ZOO Saponis Investments SP ZOO Saponis Investments SP ZOO Maryani Investments SP ZOO Mac Oil (Poland) SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Marathon Oil Area A - J SP ZOO Silurian SP ZOO Eco Energy 2010 SP ZOO Silurian SP ZOO Wisent Oil & Gas SP ZOO Eco Energy 2010 SP ZOO Silurian SP ZOO Wisent Oil & Gas SP ZOO Wisent Oil & Gas SP ZOO Silurian SP ZOO Silurian SP ZOO Eco Energy 2010 SP ZOO Eco Energy 2010 SP ZOO Wisent Oil & Gas SP ZOO Orlen Upstream SP ZOO Orlen Upstream SP ZOO Orlen Upstream SP ZOO Orlen Upstream SP ZOO Orlen Upstream SP ZOO Orlen Upstream SP ZOO Orlen Upstream SP ZOO Orlen Upstream SP ZOO Orlen Upstream SP ZOO Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA

Interest (%)

Concessions Name

License Area (km2)

100 100 100 100 25 100 25 25 50 20 20 20 50 100 51 51 51 51 51 100 51 100 51 51 51 9 9 9 9 9 9 9 9 9 100 100 100 31.67 100 100 31.67 31.67 100 100 100 100 31.67 100 100 100 100 100 100 100 100 100 100

Sambia E Sambia W Koło Łodź Zachod Oleśnica Poddębice Prabuty Południowe Wieluń Iława Sławno Słupsk Starogard Węgrow Gdynia Brodnica Ciechanow Kwidzyń Lidzbark Orzechow Parczew Płońsk S Płońsk SE Rypin Siedlce Sokołow Podlaski Brodnica Ciechanow Kwidzyń Lidzbark Orzechow Płońsk S Rypin Siedlce Sokołow Podlaski Chodel Częstochowa Głubczyce Gołdap Grudziądz Kędzierzyn-Koźle Kętrzyn Lidzbark Warmiński Makow Mazowiecki Opole Repki Siemiatycze Węgorzewo Bełżyce Garwolin Hrubieszow Lubartow Lublin Sieradz Wierzbica Wodynie-Łukow Wołomin 172

1,092 888 1,172 809 1,161 645 481 888 746 1,154 919 878 712 252,522 1,088 1,186 1,197 1,046 1,008 1,003 360 245 670 740 834 1,088 1,186 1,197 1,046 1,008 360 670 740 834 189 750 1,156 621 699 994 683 895 699 1,044 882 892 134 1,019 884 415 1,156 967 917 702 1,191 1,180 937

100

173

937

100

192

922

100

193

942

100

Bartoszyce

670

100

Górowo Iławeckie

1,094

100

Kartuzy-Szemud

783

100

Kock-Tarkawica

1,028

100

Pakosław-Krotoszyn

1,096

100

Pionki-Kazimierz

530

100

Ryki-Zyrzyn

426

100

Stara Kiszewa

1,178

EXP. Wells

EU 27 Listing

Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland

PARENT COMPANY

1 1 1

1 1 1 1 1 1 1 1 1

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Poland • Portugal • Romania Country

PARENT COMPANY

Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland Poland

Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA RAG RAG RAG San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC Sorgenia SPA Sorgenia SPA Sorgenia SPA Stena Investment SARL Stena Investment SARL Stena Investment SARL Stena Investment SARL Total SA

Poland Poland Poland Poland Poland

Wisent Oil & Gas SP ZOO Wisent Oil & Gas SP ZOO Wisent Oil & Gas SP ZOO Wisent Oil & Gas SP ZOO Exxon Mobil Corp

Poland Portugal Portugal Portugal Portugal Portugal Portugal Portugal Portugal Portugal Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania Romania

San Leon Energy PLC Galp Energia Group Oracle Energy Porto Energy Corp Porto Energy Corp Porto Energy Corp Porto Energy Corp Porto Energy Corp Porto Energy Corp Porto Energy Corp Chevron Corp Chevron Corp Chevron Corp Chevron Corp East-West Petroleum Corp East-West Petroleum Corp East-West Petroleum Corp East-West Petroleum Corp Expert Petroleum Expert Petroleum Expert Petroleum MOL MOL MOL Naftna Industrija Srbije NIS Naftna Industrija Srbije NIS Naftna Industrija Srbije NIS Naftna Industrija Srbije NIS Raffles Energy Pte Romgaz Romgaz Romgaz Romgaz Romgaz Romgaz Romgaz

Poland Poland Poland Poland

Dedicated License Holding Compnay (DLHC) Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Polskie Gornictwo Naftowe i Gazownictwo SA Saponis Investments SP ZOO Saponis Investments SP ZOO Saponis Investments SP ZOO Baltic Oil&Gas SP ZOO San Leon Czersk Baltic Oil&Gas SP ZOO Helland Investments SP ZOO Gora Energy SP ZOO Joyce Investments SP ZOO Aurelian Oil and Gas SP ZOO Liesa Energy SP ZOO Oleśnica LLP South Prabuty LLP San Leon Praszka Aurelian Oil and Gas SP ZOO San Leon Rawicz Baltic Oil&Gas SP ZOO Maryani Investments SP ZOO Wieluń LLP San Leon Wschowa Saponis Investments SP ZOO Saponis Investments SP ZOO Saponis Investments SP ZOO Wisent Oil & Gas SP ZOO Wisent Oil & Gas SP ZOO Wisent Oil & Gas SP ZOO Wisent Oil & Gas SP ZOO ExxonMobil Exploration and Production Poland Energia Chelm SP J Wisent Oil & Gas SP ZOO Wisent Oil & Gas SP ZOO Wisent Oil & Gas SP ZOO Wisent Oil & Gas SP ZOO ExxonMobil Exploration and Production Poland SP ZOO Vabush Energy Petroleos de Portugal - Petrogal Oracle Energy Mohave Oil And Gas Corporation Petroleos de Portugal - Petrogal Mohave Oil And Gas Corporation Mohave Oil And Gas Corporation Mohave Oil And Gas Corporation Mohave Oil And Gas Corporation Mohave Oil And Gas Corporation Chevron Corp Chevron Corp Chevron Corp Chevron Corp East-West Petroleum Corp East-West Petroleum Corp East-West Petroleum Corp East-West Petroleum Corp MOL MOL MOL MOL MOL MOL East-West Petroleum Corp East-West Petroleum Corp East-West Petroleum Corp East-West Petroleum Corp Zeta Petroleum Romgaz Romgaz Romgaz Romgaz Romgaz Romgaz Romgaz

106 | Shale Gas Investment guide | Winter 2013

Interest (%)

Concessions Name

License Area (km2)

EXP. Wells 1

100

Tomaszow Lubelski

741

100

Warka-Ursynow

734

100

Wejherowo

731

100

Wiszniow-Tarnoszyn

1,106

26.3 26.3 26.3 100 100 100 100 100 50 100 100 75 75 100 100 100 100 50 75 100 27 27 27 29.7 29.7 29.7 29.7 49

Sławno Słupsk Starogard Braniewo S Czersk Gdańsk W Gniew Gora Iława Kotlarka Nowa Sol Oleśnica Prabuty Południowe Praszka Prusice Rawicz Szczawno Węgrow Wieluń Wschowa Sławno Słupsk Starogard Gołdap Kętrzyn Lidzbark Warmiński Węgorzewo 319-320 Chełm

1,154 919 878 1,043 702 889 1,191 706 746 213 1,166 1,161 481 1,199 758 742 603 712 888 1,078 1,154 919 878 621 683 895 134 1,162

38 38 38 38 100

Gołdap Kętrzyn Lidzbark Warmiński Węgorzewo Mińsk Mazowiecki

621 683 895 134 1,085

100 50 100 100 50 100 100 100 100 100 100 100 100 100 85 85 85 85 30 30 30 70 70 70 15 15 15 15 50 100 100 100 100 100 100 100

Nida Aljubarrota - 3 Barreiro Torres Vedrs 3 Aljubarrota - 3 Rio Maior - 2 Cabo Mondego - 2 São Pedro de Muel - 2 Zambujal Peniche Barlad Adamclisi Costinesti VamaVeche Tria Baile Felix Periam Biled Voivozi Adea Curtici Voivozi Adea Curtici Tria Baile Felix Periam Biled Suceava Transilvania Nord Transylvania Center Transilvania Sud North Moldova Moldova South Muntenia Nord Est Muntenia Center

1,167 512 855 1,269 512 1,274 630 518 907 193 6,350 900 900 900 1,000 1,000 1,000 1,000 1,145 1,145 1,145 1,145 1,145 1,145 1,000 1,000 1,000 1,000 2,403

1 1 1 1 1 1

2 1

1 1 1 1

1 1

1 2 1 0 0 1

Romania • Slovakia • Slovenia • Spain Country

PARENT COMPANY

Dedicated License Holding Compnay (DLHC)

Interest (%)

Romgaz Sterling Resources Transatlantic Petroleum Zeta Petroleum Geokos OOD JKX Oil & Gas PLC JKX Oil & Gas PLC JKX Oil & Gas PLC Nafta AS Nafta AS Nafta AS

Romgaz Transatlantic Petroleum Transatlantic Petroleum Zeta Petroleum Geokos OOD Aurelian Oil & Gas SRO Slovakia Aurelian Oil & Gas SRO Slovakia Aurelian Oil & Gas SRO Slovakia Nafta AS Nafta AS Nafta AS

100 50 50 50 100 25 25 25 100 100 100

Slovakia Slovakia Slovakia Slovakia Slovakia Slovakia Slovakia Slovenia Slovenia Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain

ROMGAZ SA ROMGAZ SA ROMGAZ SA San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC Topgas Slovakia SRO Ascent Resources Petrol Basque Energy Board Basque Energy Board Basque Energy Board Basque Energy Board Basque Energy Board Basque Energy Board Basque Energy Board Basque Energy Board Basque Energy Board Basque Energy Board Basque Energy Board BNK Petroleum INC BNK Petroleum INC BNK Petroleum INC Cambria Europe Cambria Europe Cambria Europe Cambria Europe CBMRESA Compania Petrolifera de Sedano Enegas SA Greenpark Energy Espana SA Heyco Energy Group INC Heyco Energy Group INC Heyco Energy Group INC Heyco Energy Group INC Hulleras del Norte SA Hunosa Invexta Resources LTD Invexta Resources LTD Leni Gas & Oil PLC Northern Petroleum LTD Oil & Gas Capital SL Oil & Gas Capital SL Oil & Gas Capital SL Oil & Gas Capital SL Oil & Gas Capital SL Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Petroleum Oil & Gas Espana SA Petroleum Oil & Gas Espana SA Petroleum Oil & Gas Espana SA Petroleum Oil & Gas Espana SA Petroleum Oil & Gas Espana SA Portland Gas Esp SL Pyreenes Energy Spain SA Pyreenes Energy Spain SA Pyreenes Energy Spain SA Pyreenes Energy Spain SA Pyreenes Energy Spain SA Repsol SA Repsol SA Repsol SA

Aurelian Oil & Gas SRO Slovakia Aurelian Oil & Gas SRO Slovakia Aurelian Oil & Gas SRO Slovakia Aurelian Oil & Gas SRO Slovakia Aurelian Oil & Gas SRO Slovakia Aurelian Oil & Gas SRO Slovakia Topgas Slovakia SRO Geoenergo DOO Geoenergo DOO Sociedad de Hidrocarburos de Euskadi SA Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Sociedad de Hidrocarburos de Euskadi SA Sociedad de Hidrocarburos de Euskadi SA Sociedad de Hidrocarburos de Euskadi SA Sociedad de Hidrocarburos de Euskadi SA Trofagas Hidrocarburos SL Trofagas Hidrocarburos SL Trofagas Hidrocarburos SL Sociedad de Hidrocarburos de Euskadi SA Sociedad de Hidrocarburos de Euskadi SA Sociedad de Hidrocarburos de Euskadi SA Sociedad de Hidrocarburos de Euskadi SA CBMRESA Compania Petrolifera de Sedano Enegas SA Greenpark Energy Espana SA Sociedad de Hidrocarburos de Euskadi SA Sociedad de Hidrocarburos de Euskadi SA Sociedad de Hidrocarburos de Euskadi SA Sociedad de Hidrocarburos de Euskadi SA Hulleras del Norte SA Petroleum Oil & Gas Espana Invexta Resources LTD Invexta Resources LTD Compania Petrolifera de Sedano Ayoopco LTD Oil & Gas Capital SL Oil & Gas Capital SL Oil & Gas Capital SL Oil & Gas Capital SL Oil & Gas Capital SL Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Oil & Gas Skills SA Petroleum Oil & Gas Espana SA Petroleum Oil & Gas Espana SA Petroleum Oil & Gas Espana SA Petroleum Oil & Gas Espana SA Petroleum Oil & Gas Espana SA Portland Gas Esp SL Petroleum Oil & Gas Espana SA Petroleum Oil & Gas Espana SA Pyreenes Energy Spain SA Pyreenes Energy Spain SA Pyreenes Energy Spain SA Repsol Investigaciones Petroliferas SA Petroleum Oil & Gas Espana SA Repsol Investigaciones Petroliferas SA

25 25 25 50 50 50 100 75 25 44 33.78 33.78 33.78 33.78 33.78 33.78 44 44 100 44 100 100 100 20 20 20 20 100 100 100 100 36 36 36 36 100 40 100 100 100 100 100 100 100 100 100 13.51 13.51 13.51 13.51 13.51 13.51 50 50 100 100 50 100 10 10 100 100 100 100 40 100

Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain

Oltenia SudCraiova SudCraiova Suceava Burda Snina Medzilaborce Svidník Bažantnica Gbely Východoslovenská nížina Snina Medzilaborce Svidník Snina Medzilaborce Svidník Kežmarok Petišovci Petišovci ANGOSTO-1 CAMEROS-2 EBRO-A EBRO-B EBRO-C EBRO-D EBRO-E ENARA MIRUA SAIA USOA ARQUETU URRACA SEDANO ANGOSTO-1 ENARA MIRUA USOA BOÑAR-CISTIERNA HUERMECES REUS PISUERGA ANGOSTO-1 ENARA MIRUA USOA MORCIN-1 GRANDA ARIES-1 ARIES-2 VALDERREDIBLE BASCONCILLOS H PENÉLOPE ULISES-2 ULISES-3 ESCORPIO LEO CAMEROS-2 EBRO-A EBRO-B EBRO-C EBRO-D EBRO-E BEZENA BIGUENZO HORQUILLA LES PINASSES GRANDA GUADALQUIVIR BEZENA BIGUENZO ANISA CARLOTA PLACIDO BERDUN BIGUENZO LUENA

License Area (km2)

EXP. Wells

EU 27 Listing

Romania Romania Romania Romania Slovakia Slovakia Slovakia Slovakia Slovakia Slovakia Slovakia

Concessions Name

4,000 4,000 2,403 180 961 721 760 452 940 968 961 721 760 961 721 760 583 100 100 261 35 217 948 632 948 1,011 759 752 498 727 249 948 348 261 759 752 727 379 121 257 428 261 759 752 727 125 187 1,006 1,006 241 194 272 408 272 201 403 35 217 948 632 948 1,011 878 917 965 128 187 137 878 917 261 253 379 759 917 746

1 1

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Spain • United Kingdom Country Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom

PARENT COMPANY Repsol SA Repsol SA San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC San Leon Energy PLC Schuepbach Energy Schuepbach Energy Storengy Espana SL Union Fenosa Gas Exploracion y Produccion SA Union Fenosa Gas Exploracion y Produccion SA Union Fenosa Gas Exploracion y Produccion SA Union Fenosa Gas Exploracion y Produccion SA Union Fenosa Gas Exploracion y Produccion SA Union Fenosa Gas Exploracion y Produccion SA Vancast Exploracion Vancast Exploracion Vancast Exploracion Adamo Energy UK LTD Aimwell Energy LTD AJ Lucas Group LTD AJ Lucas Group LTD AJ Lucas Group LTD AJ Lucas Group LTD AJ Lucas Group LTD AJ Lucas Group LTD Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Alkane Energy PLC Altwood Petroleum LTD Altwood Petroleum LTD Altwood Petroleum LTD Altwood Petroleum LTD Altwood Petroleum LTD Altwood Petroleum LTD Altwood Petroleum LTD Angus Energy LTD Angus Energy LTD Angus Energy LTD Angus Energy LTD Aurora Petroleum LTD Aurora Petroleum LTD Aurora Petroleum LTD Aurora Petroleum LTD BG Group PLC Biogas Technology LTD Biogas Technology LTD Blackland Park Exploration LTD Blackland Park Exploration LTD Blackland Park Exploration LTD Blackland Park Exploration LTD Blackland Park Exploration LTD Blackland Park Exploration LTD Blackland Park Exploration LTD Cairn Energy PLC

Dedicated License Holding Compnay (DLHC)

Interest (%)

Concessions Name

License Area (km2)

Petroleum Oil & Gas Espana SA Repsol Investigaciones Petroliferas SA Frontera Energy Corporation SL Frontera Energy Corporation SL Frontera Energy Corporation SL Frontera Energy Corporation SL Schuepbach Energy Schuepbach Energy Storengy Espana SL Oil & Gas Skills SA

40 100 100 100 100 100 85 85 100 52.7

BEZENA TURBÓN AQUILES CRONOS GÉMINIS LIBRA RUEDALABOLA TESORILLO ALBERO CAMEROS-2

878 569 1,024 970 479 379 207 620 896 35

Oil & Gas Skills SA

52.7

EBRO-A

217

Oil & Gas Skills SA

52.7

EBRO-B

948

Oil & Gas Skills SA

52.7

EBRO-C

632

Oil & Gas Skills SA

52.7

EBRO-D

948

Oil & Gas Skills SA

52.7

EBRO-E

1,011

Petroleum Oil & Gas Espana Schuepbach Energy Schuepbach Energy Coastal Oil and Gas LTD Northdown Energy LTD Cuadrilla Weald LTD Cuadrilla Elswick LTD Cuadrilla Bowland LTD Cuadrilla Balcombe LTD Cuadrilla Weald LTD Cuadrilla Resources Seven Star Natural Gas LTD Alkane Energy UK LTD Eastern Pegasus LTD Regent Park Energy LTD Alkane Energy UK LTD Regent Park Energy LTD Alkane Energy UK LTD Seven Star Natural Gas LTD Regent Park Energy LTD Alkane Energy UK LTD Alkane Energy UK LTD Alkane Energy UK LTD Alkane Energy UK LTD Alkane Energy UK LTD Alkane Energy UK LTD Regent Park Energy LTD Regent Park Energy LTD Regent Park Energy LTD Regent Park Energy LTD Courage Energy UK LTD Regent Park Energy LTD Cuadrilla Resources Cuadrilla Weald LTD Cuadrilla Elswick LTD Altwood Petroleum LTD Altwood Petroleum LTD Seven Star Natural Gas LTD Europa Oil & Gas LTD Egdon Resources UK LTD Egdon Resources UK LTD Angus Energy Weald Basin No 3 LTD Angus Energy Weald Basin No 3 LTD Aurora Exploration UK LTD Egdon Resources UK LTD Island Gas LTD Egdon Resources UK LTD BG International LTD Biogas Technology LTD Biogas Technology LTD Alta Quest Energy Corporation UK LTD Courage Energy UK LTD Blackland Park Exploration LTD Courage Energy UK LTD Blackland Park Exploration LTD Blackland Park Exploration LTD Blackland Park Exploration LTD Egdon Resources UK LTD

10 15 15 50 10 96 91 75 100 100 96 100 100 100 100 100 100 50 50 100 100 100 50 50 100 100 100 100 100 100 50 100 4 4 4 4 4 4 1.6 10 10 100 100 100 18.75 8.33 18.75 51 100 100 100 100 80 50 50 50 50 15

GRANDA RUEDALABOLA TESORILLO PEDL218 PEDL245 EXL189 EXL269 PEDL165 PEDL244 PEDL247 PL55 PL213 AL10 EXL253 EXL288 PEDL1 PEDL11 PEDL14 PEDL141 PEDL169 PEDL191 PEDL202 PEDL254 PEDL255 PEDL37 PEDL39 PEDL40 PEDL43 PEDL56 PEDL57 PEDL90 PL161 PL55 EXL189 EXL269 EXL288 EXL288 PEDL141 PEDL143 PEDL118 PEDL203 PL235 PL241 PEDL164 PEDL237 PEDL70 PL90 PEDL133 EXL203 EXL276 EXL141 EXL294 PEDL209 PEDL90 PL199 PL215 PL215 PEDL118

187 207 620

108 | Shale Gas Investment guide | Winter 2013

1,180

331

EXP. Wells

4 1

United Kingdom Country

Cairn Energy PLC Cairn Energy PLC IGas PLC Celtique Energy Holdings LTD Celtique Energy Holdings LTD Celtique Energy Holdings LTD Celtique Energy Holdings LTD Celtique Energy Holdings LTD Celtique Energy Holdings LTD Celtique Energy Holdings LTD Celtique Energy Holdings LTD Celtique Energy Holdings LTD Celtique Energy Holdings LTD Centrica PLC Centrica PLC Cirque Energy UK LTD Corfe Energy LTD Corfe Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dart Energy LTD Dorset Exploration LTD Ecorp International LLC Ecorp International LLC Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Eden Energy LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD

Dedicated License Holding Compnay (DLHC) Egdon Resources UK LTD Egdon Resources UK LTD Caithness Oil LTD Egdon Resources UK LTD Europa Oil & Gas LTD Egdon Resources UK LTD Celtique Energie Petroleum LTD Egdon Resources UK LTD Celtique Energie Weald LTD Celtique Energie Weald LTD Celtique Energie Weald LTD Egdon Resources UK LTD Celtique Energie Weald LTD Cuadrilla Bowland LTD CENTRICA Cirque Energy UK LTD Island Gas LTD Egdon Resources UK LTD GP Energy LTD GP Energy LTD GP Energy LTD GP Energy LTD GP Energy LTD GP Energy LTD BG International LTD GP Energy LTD GP Energy LTD GP Energy LTD GP Energy LTD GP Energy LTD Dart Energy Forth Valley LTD Dart Energy Forth Valley LTD Dart Energy East England LTD Dart Energy East England LTD Dart Energy East England LTD Dart Energy East England LTD Dart Energy East England LTD GP Energy LTD GP Energy LTD Dart Energy West England LTD Dart Energy West England LTD GP Energy LTD GP Energy LTD GP Energy LTD Dart Energy East England LTD Dart Energy East England LTD Dart Energy East England LTD Dart Energy West England LTD GP Energy LTD Dart Energy West England LTD Egdon Resources GP Energy LTD GP Energy LTD Eden Energy UK LTD UK Methane LTD UK Methane LTD Coastal Oil and Gas LTD Coastal Oil and Gas LTD Coastal Oil and Gas LTD Coastal Oil and Gas LTD Eden Energy UK LTD Eden Energy UK LTD UK Methane LTD UK Methane LTD UK Methane LTD Eden Energy UK LTD Eden Energy UK LTD Eden Energy UK LTD Eden Energy UK LTD Egdon Resources UK LTD Northern Petroleum GB LTD Egdon Resources UK LTD GP Energy LTD GP Energy LTD Seven Star Natural Gas LTD Europa Oil & Gas LTD NP Weald LTD Egdon Resources UK LTD

Interest (%) 15 10 65 33.33 25 33.33 100 32.5 50 50 50 50 50 25 100 100 10 12.5 100 100 100 100 100 100 49 60 60 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 10 30 30 100 50 50 50 50 50 50 100 100 50 50 50 50 50 50 50 50 10 100 10 10 46 38.4 10 33.33

Concessions Name PEDL203 PEDL5 PEDL158 PEDL180 PEDL181 PEDL182 PEDL197 PEDL201 PEDL231 PEDL232 PEDL234 PEDL241 PEDL243 PEDL165 PL234 EXL294 PEDL70 PEDL201 AL10 EXL273 EXL284 EXL288 EXL290 PEDL12 PEDL133 PEDL139 PEDL140 PEDL146 PEDL147 PEDL159 PEDL161 PEDL163 PEDL173 PEDL174 PEDL176 PEDL178 PEDL179 PEDL186 PEDL187 PEDL188 PEDL189 PEDL195 PEDL196 PEDL198 PEDL200 PEDL207 PEDL210 PEDL211 PL162 PEDL185 PL90 PEDL139 PEDL140 PEDL212 PEDL214 PEDL215 PEDL216 PEDL217 PEDL219 PEDL220 PEDL221 PEDL223 PEDL226 PEDL227 PEDL228 PEDL249 PEDL250 PEDL251 PEDL252 PEDL118 PEDL126 PEDL130 PEDL139 PEDL140 PEDL141 PEDL143 PEDL155 PEDL180

License Area (km2)

EXP. Wells

EU 27 Listing

United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom

PARENT COMPANY

100 540 40 200 100 400 94 300 110 300 1,180

100 75 48 34 51 10 86 331 100 141 276 100 295 112 300 32 54 200 64 100 80 80 100 100 100 75 75 109 28 120 100 42 200 100 141

122 100 141 92 53 100

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United Kingdom Country United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom

PARENT COMPANY Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Egdon Resources LTD Europa Oil & Gas PLC Europa Oil & Gas PLC Europa Oil & Gas PLC Europa Oil & Gas PLC Europa Oil & Gas PLC Europa Oil & Gas PLC Europa Oil & Gas PLC Fairfax Shelfco Fairfax Shelfco First Oil Expro PLC First Oil Expro PLC His Grace the Duke of Devonshire Iberdrola SA Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Igas PLC Low New Biggin Oil Maersk Oil North Sea UK LTD Magellan Petroleum Corp Magellan Petroleum Corp Magellan Petroleum Corp Magellan Petroleum Corp Magellan Petroleum Corp Magellan Petroleum Corp Magellan Petroleum Corp Magellan Petroleum Corp Magellan Petroleum Corp Magellan Petroleum Corp Midmar Energy LTD Montrose Industries LTD

110 | Shale Gas Investment guide | Winter 2013

Dedicated License Holding Compnay (DLHC)

Interest (%)

Concessions Name

Europa Oil & Gas LTD Egdon Resources UK LTD Egdon Resources UK LTD Egdon Resources UK LTD Egdon Resources UK LTD Egdon Resources PLC Northern Petroleum GB LTD Egdon Resources UK LTD Egdon Resources UK LTD NP Weald LTD Egdon Resources UK LTD Egdon Resources UK LTD Island Gas LTD Egdon Resources UK LTD Europa Oil & Gas LTD Europa Oil & Gas LTD Europa Oil & Gas LTD Europa Oil & Gas LTD Egdon Resources UK LTD Europa Oil & Gas LTD Egdon Resources UK LTD Fairfax Shelfco 307 LTD Fairfax Shelfco 320 LTD Egdon Resources UK LTD Egdon Resources UK LTD His Grace the Duke of Devonshire

25 33.33 32.5 50 75 55 7.5 50 60 7.5 75 40 26.67 45 100 100 40 75 33.34 50 33.34 100 100 26.25 26.25 100

PEDL181 PEDL182 PEDL201 PEDL203 PEDL206 PEDL237 PEDL240 PEDL241 PEDL253 PEDL256 PEDL5 PEDL68 PEDL70 PL90 DL1 DL3 PEDL143 PEDL150 PEDL180 PEDL181 PEDL182 PEDL236 PEDL225 PL90 PEDL237 CE1

Scottishpower Generation LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas Singleton LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Blackland Park Exploration LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas LTD Island Gas Singleton LTD Island Gas LTD Low New Biggin Oil LTD Perenco Oil and Gas LTD Northern Petroleum GB LTD Magellan Petroleum UK LTD NP Weald LTD Celtique Energie Weald LTD Celtique Energie Weald LTD Celtique Energie Weald LTD Northern Petroleum GB LTD Celtique Energie Weald LTD Magellan Petroleum UK LTD NP Weald LTD Midmar Energy LTD Northern Petroleum GB LTD

100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 50 100 100 100 100 50 100 100 100 100 50 100 100 100 90 100 100 100 100 100 7.5 40 100 40 50 50 50 22.5 50 100 40 100 5

PL162 AL9 DL2 DL4 ML18 ML21 ML3 ML4 ML6 ML7 ML7 PEDL107 PEDL115 PEDL145 PEDL184 PEDL190 PEDL193 PEDL21 PEDL233 PEDL235 PEDL40 PEDL56 PEDL6 PEDL70 PEDL78 PL178 PL179 PL182 PL199 PL199 PL199 PL205 PL211 PL220 PL233 PL240 PL249 PEDL199 PL89 PEDL126 PEDL137 PEDL155 PEDL231 PEDL232 PEDL234 PEDL240 PEDL243 PEDL246 PEDL256 PEDL248 PEDL240

License Area (km2)

EXP. Wells

540 40 100

7 110 45

92 110 100 540 40

211 232 102 386 386 296

232

122 99 53 400 94 300 7 300 44 45 7

United Kingdom Country

PARENT COMPANY Montrose Industries LTD Montrose Industries LTD Moorland Energy LTD Newton Energy Corp Newton Energy Corp Newton Energy Corp Newton Energy Corp Northdown Energy LTD Northern Petroleum PLC Northern Petroleum PLC Northern Petroleum PLC Northern Petroleum PLC Northern Petroleum PLC Northern Petroleum PLC Northern Petroleum PLC Norwest Energy NWE Mirrabooka UK PTY LTD Onshore Production Services LTD Onshore Production Services LTD Perenco Oil & Gas Perenco Oil & Gas Perenco Oil & Gas Petronas Energy Trading LTD Premier Oil UK LTD Rathlin Energy UK LTD Reach Oil & Gas Red Rose Infrastructure LTD Sonorex Oil and Gas LTD Sonorex Oil and Gas LTD Stelinmatvic Industries LTD Sterling Resources Summit Petroleum Dorset LTD Talisman North Sea LTD Terrain Energy LTD Terrain Energy LTD Terrain Energy LTD Terrain Energy LTD Terrain Energy LTD Third Energy Third Energy Third Energy Third Energy Third Energy Third Energy Third Energy Trap Oil LTD UK Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD UK Onshore Gas LTD Union Jack Oil PLC Valhalla Oil and Gas Warwick Energy Warwick Energy

United Kingdom

Warwick Energy

United Kingdom

Warwick Energy

United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom

Warwick Energy Wessex Exploration PLC Wessex Exploration PLC Wingas GMBH Yorkshire Exploration LTD

Montrose Industries LTD Egdon Resources UK LTD Moorland Exploration LTD Newton Energy UK LTD Newton Energy UK LTD Newton Energy UK LTD Newton Energy UK LTD Northdown Energy LTD Northern Petroleum GB LTD NP Weald LTD Island Gas Singleton LTD Northern Petroleum GB LTD NP Weald LTD Island Gas LTD Island Gas LTD NWE Mirrabooka UK PTY LTD NWE Mirrabooka UK PTY LTD Onshore Production Services LTD Onshore Production Services LTD Perenco Oil and Gas UK LTD Perenco Oil and Gas UK LTD Perenco Oil and Gas UK LTD Humbly Grove Energy LTD Perenco Oil and Gas UK LTD Rathlin Energy UK LTD Reach Coal Seam Gas LTD Harworth Power Generation LTD Sonorex Oil and Gas LTD Sonorex Oil and Gas LTD Blackland Park Exploration LTD Egdon Resources UK LTD Perenco Oil and Gas UK LTD Perenco Oil and Gas UK LTD Egdon Resources UK LTD Egdon Resources UK LTD Egdon Resources UK LTD Egdon Resources UK LTD Egdon Resources UK LTD Viking UK Gas LTD Viking UK Gas LTD Viking UK Gas LTD Viking UK Gas LTD Viking UK Gas LTD Viking UK Gas LTD Viking UK Gas LTD Trap Oil LTD UK Gas LTD Coastal Oil and Gas LTD UK Methane LTD UK Methane LTD UK Methane LTD UK Methane LTD Coastal Oil and Gas LTD Coastal Oil and Gas LTD Coastal Oil and Gas LTD Coastal Oil and Gas LTD Coastal Oil and Gas LTD UK Methane LTD UK Methane LTD UK Methane LTD Coastal Oil and Gas LTD Coastal Oil and Gas LTD Coastal Oil and Gas LTD Coastal Oil and Gas LTD Egdon Resources UK LTD Valhalla Oil and Gas LTD Cuadrilla Elswick LTD Warwick Integrated Methane Production LTD Warwick Integrated Methane Production LTD Warwick Energy Exploration and Production LTD Europa Oil & Gas LTD NWE Mirrabooka UK PTY LTD NWE Mirrabooka UK PTY LTD Wingas Storage UK LTD Egdon Resources UK LTD

Interest (%)

Concessions Name

License Area (km2)

40 5 95 100 100 50 50 90 50 50 50 65 52.5 5 10 50 75 50 50 100 100 49.615 100 30.385 100 100 100 100 100 20 47 7.5 5 25 12.5 25 25 15 100 100 100 100 100 100 100 35 50 100 100 100 50 50 50 50 50 50 50 50 50 50 50 50 50 50 10 25 5 96

PEDL253 PEDL68 PEDL120 PEDL204 PEDL208 PEDL254 PEDL255 PEDL245 PEDL126 PEDL155 PEDL233 PEDL240 PEDL256 PEDL70 PL211 PEDL238 PEDL239 PL215 PL215 ML5 PL259 PL89 PL116 PL89 PEDL183 PEDL162 EXL250 PEDL157 PEDL224 PEDL209 PEDL68 PL89 PL89 PEDL118 PEDL201 PEDL203 PEDL206 PEDL5 AL6 DL5 PEDL177 PL77 PL79 PL80 PL81 PEDL158 PEDL14 PEDL100 PEDL148 PEDL149 PEDL214 PEDL215 PEDL216 PEDL217 PEDL218 PEDL219 PEDL220 PEDL226 PEDL227 PEDL228 PEDL249 PEDL250 PEDL251 PEDL252 PEDL201 PEDL150 EXL269 EXL288

EXL288

PEDL120

232

20 50 25 100 8

PEDL143 PEDL238 PEDL239 PEDL5 PEDL68

92 208 171

EXP. Wells

EU 27 Listing

Dedicated License Holding Compnay (DLHC)

232

122 53 7 45

208 171

100

100 110

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Shale Gas Investment Guide

LAUNCH PARTY

Tenaris, an oilfiled supplier, welcomed their guests to the SGIG launch party at the Boathouse Restaurant on October 2nd. The Poland Shale Coalition joined Tenaris in organizing a wine tasting for selected guests from countries around the world. p h o t o g r a p h y B Y K M RAT S C H K A

Terry O’Dwyer of Terrapinn at center, speaking about Shale Gas World Europe

A wine tasting was organized by Andrzej Strzelczyk an award winning sommelier

Guests enjoy dinner at the Boathouse Restaurant

Maja Tobiasz and Piotr Spaczyński of SSW law firm

Małgorzata Chodur of Veolia Water at the wine tasting

Tomasz Barańczyk a partner with PwC consulting company

112 | Shale Gas Investment guide | Winter 2013

PICTORIAL

Boathouse Restaurant where the business mixer was held John Buggenhagen represented San Leon Energy as a member of the Poland Shale Coalition

Guests from Weatherford Poland

Andrea Pirovano, Michele Della Briotta and Matias Malik of Tenaris, sponsors of the party, who have been quite sucessful in Poland.

Ralf Plesky of Tenaris

Eight types of wine from Romania, Italy, Argentina and the USA, as well as sake from Japan and tequilla from Mexico were tasted

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Exalo Drilling S.A. is one of the largest providers of drilling and oilfield services in Central and Eastern Europe(CEE). The strategic goal of the company is to offer top quality services and maintain the leading position on the onshore drilling market. Exalo Drilling S.A. continues the rich tradition of Polish exploration as it arose from five upstream companies of PGNiG Group: PNiG Krakow S.A.,PNiG Jaslo S.A., PNiG NAFTA S.A., PN Diament Sp. z o.o., and ZRG Krosno Sp. z o.o., which have unique experience in running drilling and service operations. The companies greatly contributed to the development of extraction of petroleum, gas and other natural resources in the territory of Poland and many countries all over the world . The joint potential of five companies means a strong team of highly competent and experienced specialists as well as comprehensive technological base that allow to meet customer expectations and fulfill the growing demand of international markets.

www.exalo.pl marketing@exalo.pl

Exalo Drilling S.A. Experience Synergy Quality