Achieved

Hess Corp., which is facing a shareholder revolt for a perceived lack of focus and crony-heavy board, on Monday said it would become a pure-play exploration and production (E&P) company. The plan involves fully exiting the downstream business, selling Bakken Shale midstream, and bringing aboard six new independent directors.

Trans Energy Inc. announced Wednesday that it had sold its drilling rights and working interest in shallow wells targeting the Devonian Shale for $2.75 million before adjustments, but had retained a royalty interest on most wells and drilling rights to deeper formations, such as the Rhinestreet, Marcellus and Utica shales.

Rosetta Resources Inc. said it achieved double-digit growth in production and proved reserves while it “significantly reduced” well costs during 2012. The company said it replaced 472% of production from all sources at a reserve replacement cost of $10.03/boe.

Royal Dutch Shell plc, which operates the Athabasca Oil Sands Project (AOSP), said late Monday its oilsands operations have achieved a production milestone of 500 million bbl since production began in 2003. Current production capacity has reached 255,000 b/d, Shell said.

Domestic proved oil and natural gas reserves achieved record annual volumetric increases in 2010, thanks in large part to advances in drilling technology, according to a report released by the Energy Information Administration (EIA) last Wednesday.

Domestic proved oil and natural gas reserves achieved record annual volumetric increases in 2010, thanks in large part to advances in drilling technology, according to a report released by the Energy Information Administration (EIA) Wednesday.

Domestic proved oil and natural gas reserves achieved record annual volumetric increases in 2010, thanks in large part to advances in drilling technology, according to a report released by the Energy Information Administration (EIA) Wednesday.

For the second time this year, Newfield Exploration Co. raised its full-year production forecast based on rising output from key U.S. onshore oil and natural gas liquids (NGL) plays.

Cimarex Energy Co. will spend $1.4-1.6 billion on capital expenditures (capex) in fiscal 2012, with nearly all of it devoted to drilling for oil and natural gas liquids (NGLs) in the Permian Basin and the Cana-Woodford Shale, company officials said Wednesday.