Energy Business Recap: Shell PUSHES Into The Arctic, Quicksilver RE-ENTERS Texas Well

Siemens Ag (NYSE:SI), The General Electric Company (NYSE:GE) and a Bill Gates-sponsored start-up are among companies that are developing different ideas for storing surplus energy. One technique employs excess electricity in pumping compressed air into caves and then power is generated when the air is released. The storage methods are needed to deal with the vagaries of solar and wind energy.

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Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) is taking on the Arctic, as it requests permission from United States authorities to extend its northern Alaska summer drilling project. “There are a lot of eyes on Shell” remarked a executive with a major oil and gas firm. Shell’s visible difficulties in the region are causing raised eyebrows among the remainder of the sector.

Quicksilver Resources Inc. (NYSE:KWK) says that it has re-entered the vertical Price Ranch #1 well in west Texas and finished a 1,500-foot. horizontal lateral. The well in question had produced at an initial output of 300 barrels of energy equivalent per day. The company intends to drill additional wells having between 6,000 and 7,500-foot laterals and a minimum of 20 fracture stages.

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