Lucas Energy Inc. has changed its name to Camber Energy Inc. effective Thursday. The previously announced change is intended to more accurately reflect the company’s focus on the Austin Chalk and Eagle Ford Shale. The company will trade on the New York Stock Exchange under the new ticker “CEI.”
Articles from Accurately
Changing the name of the Railroad Commission of Texas (RRC) to more accurately reflect its duties as lead regulator over the state’s oil and natural gas industry and to provide more oversight over the elected members proved more difficult than some had thought, and the legislation died Tuesday in a state House committee.
Denver-based PDC Energy Inc. has sold its Piceance and other mostly natural gas Colorado holdings to concentrate its drilling efforts in the Utica Shale in Ohio, along with Weld County’s Wattenberg field in Colorado.
Unconventional oil and gas drilling within the 13 plays tracked by NGI’s Shale Daily Unconventional Rig Count dropped by a combined 13 rigs, or 1%, from the previous week to 869 rigs for the week ending Sept. 28. While some of the plays reporting increases or declines in activity were to be expected, others came as a bit of a surprise.
The shale development frenzy of the last couple of years has cooled dramatically in recent months as natural gas prices, and more recently crude and natural gas liquids prices, have plummeted. Out of the 13 U.S. plays for which NGI’s Shale Daily tracks unconventional rig counts, nine are showing a lower level of drilling activity than one year ago, with most of them recording a drop of 30% or more.
Pacific Gas and Electric Co. (PG&E) and a Silicon Valley maker of measurement instruments said Monday they have collaborated on a technology for more accurately detecting natural gas pipeline leaks. PG&E is the first utility in the nation to begin applying the new equipment in its upgraded pipeline safety programs.
The Cana-Woodford, Eagle Ford and Bakken/Sanish/Three Forks plays continued to lead the activity growth in unconventional fields over the last year as oil and gas producers put more weight on liquids-rich shales to take advantage of higher commodity prices found in oil and natural gas liquids. Conversely, some of the nation’s dry gas shales have seen the largest drilling activity declines as natural gas prices remain below $4/MMBtu for much of the country.
Hoping to more accurately address the cost of development on local communities, a Pennsylvania Senate committee made major changes to a proposed impact fee on Marcellus Shale wells last Tuesday.
Hoping to more accurately address the cost of development on local communities, a Pennsylvania Senate committee made major changes to a proposed impact fee on Marcellus Shale wells on Tuesday.
The number of rigs targeting oil and natural gas in U.S. tight sands and shale plays saw a significant drop during the week ending May 20, while oil and gas prices hovered in their recent comfort zones, according to NGI’s Shale Daily Unconventional Rig Count.