3Q2012

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.

Range Resources Corp. expects to spend about 85% of its $1.3 billion 2013 capital expenditures (capex) budget on liquids-rich and oil projects, predominately in wet areas of the Marcellus Shale and through horizontal drilling in the Mississippian Lime, the Fort Worth, TX-based company said Wednesday.

Consol Energy Inc. and EQT Corp. were the only companies to submit bids for leases to drill for natural gas on 9,263 acres at Pittsburgh International Airport and Allegheny County Airport just outside of the city, according to the Allegheny County Airport Authority (ACAA).

Continental Resources Inc. has signed separate agreements to buy producing and undeveloped properties in the Bakken Shale for $650 million, and to sell land and assets in its east region for $125 million.

Rex Energy Corp., which expanded its operations in Ohio’s Utica Shale earlier this year, said Wednesday it was pleased with the initial production results from its first Ohio Utica Shale well.

Chesapeake Energy Corp., which has spent the last decade creating one of the largest natural gas drilling machines in the United States, quickly is becoming an onshore liquids dynamo, CEO Aubrey McClendon told financial analysts Tuesday.

DCP Midstream LLC has struck long-term agreements with Pioneer Natural Resources USA Inc., Reliance Eagleford Upstream Holding LP and Newpek LLC (combined known as Pioneer JV) to provide midstream services to handle liquids-rich production from the Eagle Ford Shale in South Texas.