Breitling Energy CEO Leading China Summit on Shale Oil and Gas Production
DALLAS, Oct. 29, 2015 /PRNewswire/ -- Breitling Energy Chairman and CEO, Chris Faulkner is headlining the 4th China International Shale Gas Summit 2015 in Beijing today, discussing how U.S. shale is affecting world prices and development.
China is world's largest energy consumer and fuels about 70 percent of that demand from coal. Chinese energy leaders have noted the impact of hydraulic fracturing on U.S. natural gas production and how the rise of gas-fired power plants quickly reduced carbon emissions in the States. China's energy plan calls for a 3,000 percent increase in natural gas production by 2020 to help facilitate a shift from coal to natural gas. The superpower is also strategizing how it can supply enough oil for its long-term transportation demands.
However, China faces mounting technical challenges to replicate U.S. shale production, including cost of development, difficult geological formations and the availability of fresh water to facilitate fracture stimulation.
Chris Faulkner earned an international reputation speaking on behalf of United States shale development and will present an outlook on what has taken place here and what could be applied in China.
"China faces an uphill battle to replicate what we have done, but I'm impressed with their commitment to increase the number of natural gas power plants to reduce emissions," Faulkner said. "Obviously they are a major player on the international energy stage and as we've seen, their demand for oil has a direct impact on prices, so this will be a very interesting discussion and I'm honored to be one of the first to address this prestigious group of Chinese energy thought leaders."
The Summit concludes tomorrow at the Beijing Doubletree Hotel.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this press release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this press release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for or released by the Company.
ABOUT BREITLING ENERGY CORPORATION
Breitling Energy Corporation is a growing U.S. energy company based in Dallas, Texas, engaged in the exploration and development of high-probability, lower risk onshore oil and gas properties. The Company's dual-focused growth strategy primarily relies on leveraging management's technical and operations expertise to grow through the drill-bit, while also growing its base of non-operating working interests and royalty interests. Breitling Energy's oil and gas operations are focused primarily in the Permian Basin of Texas and the Mississippi oil window of southern Kansas and northern Oklahoma, with non-operating investments in Texas, North Dakota, Oklahoma and Mississippi. Breitling Energy Corporation is traded over the counter under the ticker symbol: BECC. Additional information is available at www.breitlingenergy.com.
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SOURCE Breitling Energy Corporation
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