Whilst so much of the interest in the USA is in shale gas, it is interesting to note that there are other natural gas options in the USA and one highly rated AIM and TSX listed company is out to get them.
The company's own description of itself is:
Caza Oil & Gas, Inc. is engaged in the acquisition, exploration, development and production of hydrocarbons in the Texas Gulf Coast, South Louisiana, Southeast New Mexico and the Permian Basin of West Texas regions of the United States through its subsidiary, Caza Petroleum.
In a recent interview, the chairman described the company's niche as:
Describing Caza's 'niche' as deep, conventional onshore properties where costs are a fraction of offshore ventures, McGoldrick claims Caza has 'first mover' advantage over the competition, partly by becoming involved when no-one else was interested and partly because of its own proprietary data collection avd collation system.
The company has been doing very well recently, as the market have sat up and taken notice.
Shares in AIM listed Caza Oil & Gas (LON:CAZA) have surged from 10p to 36p since the end of the Summer
The main catalyst seems to be Arran, a prospect in Lousiana:
Our company estimates something in the region of 250 billion cubic feet of gas, plus liquids, it should be quite wet gas, high condensate yield. It is a four-way closure and it looks lovely on seismic and we’re getting quite excited and hopefully we’ll have that spud in November.
In a market with low gas prices, condensate is of more value than ever, increasing the value of such finds.
Rather than shale, they seem to be finding a lot of their gas in deep sand. Who'd have thought that deep sand in the deep south could be so exciting.