2013

Antero Resources announced Monday that its proved reserves had increased 47%, to 6.3 Tcfe in the first half fo 2013 on natural gas gains mostly from the Marcellus Shale.

Oneok Inc. plans to spin off its natural gas distribution business to create ONE Gas Inc., which would be one of the largest gas utilities in the United States with more than two million customers in three states and the only publicly traded, 100% regulated, pure-play gas distribution utility.

Continuing to fetch higher per-acre prices, the federal Bureau of Land Management (BLM) took in $49.8 million last Wednesday, selling 87 leases totaling 19,015 acres in North and South Dakota, the BLM Billings, MT, office said. South Dakota had the most activity.

Magnum Hunter Resources Corp. is planning to build production through the rest of this year from its substantial asset base in the Appalachian Basin after being knocked back early this year from a lack of pipeline capacity for natural gas liquids (NGL), CEO Gary Evans said Tuesday.

Forced back into action following the Thursday Independence Day Holiday, physical gas traders in quiet trading Friday for weekend and Monday delivery managed to push most price point averages higher by a few cents, except for in the Northeast and California. Coming off dollar-plus losses on Wednesday, a number of Marcellus Shale-related points reversed course Friday to gain 80 cents or more. California was the only area in the red, with multiple points dropping a nickel to 15 cents.

Pennsylvania Gov. Tom Corbett is urging the Delaware River Basin Commission (DRBC) to proceed with a proposal to revise water quality regulations, a move that could ultimately open the basin to expanded Marcellus Shale natural gas drilling.

A federal district judge late last month rejected a bid by SandRidge Energy Inc. to dismiss an investor lawsuit that claims the Oklahoma City operator provided misleading information regarding natural gas drilling programs.

Physical natural gas prices on average gained a penny in trading for Tuesday deliveries, but California prices soared as next-day power made huge weather-driven gains. Northeast locations were also strong, but many market hubs were flat to within a couple of pennies higher or lower.

The House Friday passed legislation that would open more federal waters to oil and natural gas exploration and production, but the bill has next to no chance of advancing in the Senate and being signed into law by President Obama.