Hedge fund TPG-Axon Capital, one of SandRidge Energy’s largest investors, continues to push for changes at the Oklahoma City-based exploration and production company, calling for the replacement of SandRidge’s entire board of directors.
Articles from 3Q2011
Halcon Sees Output More Than Doubling in 2013
Upstart onshore operator Halcon Resources Corp. expects to produce 17,000-20,000 boe/d in the final three months of this year and should produce 40,000-45,000 boe/d in 2013, management said Thursday.
Halliburton Operations in Sticky Situation
North American margins for Halliburton Co. likely have been impacted “more than anticipated” in the second quarter because of the increased cost of guar gum, an additive used in hydraulic fracturing fluids, the oilfield services company said late Wednesday.
Natgas Fracking Capacity Down Sharply
U.S. pressure pumping capacity in natural gas plays is expected to plummet by 22%, or 1.1 million hydraulic hp (hhp), between 3Q2011 and 4Q2012, according to an analysis by PacWest Consulting Partners. In oil and liquids plays over the same period capacity is forecast to jump by 52%, or 3 million hhp.
Natgas Fracking Capacity Seen Down Sharply
U.S. pressure pumping capacity in natural gas plays is expected to plummet by 22%, or 1.1 million hydraulic hp (hhp), between 3Q2011 and 4Q2012, according to a new analysis by PacWest Consulting Partners. In oil and liquids plays over the same period capacity is forecast to jump by 52%, or 3 million hhp.
Exco Dropping Rigs but Still Looking for Opportunities
With a eye on natural gas prices, Dallas-based Exco Resources Inc. is dropping more than half of its drilling rigs in the Haynesville Shale this year, cutting one rig in the Marcellus and deferring well completions in natural gas plays. However, CEO Doug Miller said Friday there are “huge opportunities” to buy distressed properties, which the company intends to pursue.
The Arlington, TX, City Council Tuesday initially approved amendments to the city’s gas drilling ordinance that would place stricter requirements on operators. Among them are a requirement to install video surveillance equipment at drill sites and restrictions on the use of diesel-powered rigs in favor of electric rigs. The latter provision is intended to reduce noise and emissions at drill sites. Also slated for revision are the definition of “protected structures,” and setback compliance requirements. In order to take effect, the amendments need a second vote, which is expected to happen when the council meets next month.
Encana Shifts Spending from Gas to Liquids
Encana Corp. delivered strong operational performance in 3Q2011, with North American onshore natural gas and liquids output up 6% from the year-ago period, the company said Thursday. However, CEO Randy Eresman said many of the gas giant’s “drier” plays will see less spending in 2012 to direct more of the budget to pricier liquids-rich and oily shales.
Encana’s Onshore Output Jumps 6%
Encana Corp. delivered strong operational performance in 3Q2011, with North American onshore gas and liquids output up 6% from the year-ago period, the company said Thursday.
Devon Expands Unconventional Drilling Plans
Devon Energy Corp. will drill more wells in North America’s onshore this year than it originally planned, with an eye on discovering another emerging play, company executives said Tuesday.