Despite a year of languishing natural gas prices, Cabot Oil & Gas Corp. annual revenues for the first time surpassed $1 billion in 2012. Cash flow set records as proved reserves grew by 27% to 3.8 Tcf on organic growth that replaced 417% of record production. The Marcellus Shale gave much despite infrastructure challenges.
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Battle for SandRidge Board of Directors Renewed
The war of words between Oklahoma City-based SandRidge Energy Inc. and hedge fund TPG-Axon Capital, one of the exploration and production (E&P) company’s largest investors, was renewed this week, with both sides appealing to SandRidge shareholders for support.
Trucker Killed in Storage Tank Explosion at EQT Well in West Virginia
A tanker truck driver was killed after a storage tank at an EQT Corp. natural gas well in West Virginia exploded on Friday morning.
Apache Feeling the Love in Permian, Midcontinent
Apache Corp. is taking no prisoners in the Permian Basin nor in the Midcontinent after building output from the combined regions by almost 24% in 2012 from 2011. By themselves, the two regions represented 25% of total global production at 197,000 boe/d.
Offshore Reinvestment Coming at Opportune Time
Following a turbulent period in the Gulf of Mexico after the Macondo well blowout in April 2010, offshore drilling companies have rebounded and are outperforming the top land service providers, according to IHS Inc.
Offshore Drillers’ Reinvestment Coming at Opportune Time
Following a turbulent period in the Gulf of Mexico after the Macondo well blowout in April 2010, offshore drilling companies have rebounded and are outperforming the top land service providers, according to IHS Inc.
Penn Virginia Grows Proved Oil, NGL Reserves
Six months after selling its Appalachian Basin portfolio to focus on the oily Eagle Ford Shale, Penn Virginia Corp. (PVA) said its operations in the latter were moving forward while proved reserves of oil and natural gas liquids (NGL) had increased during 2012.
Utah Gas Blowout Taking Time to Extinguish
A natural gas well in Utah owned by Devon Energy Corp., which apparently caught fire just after midnight Tuesday, may take up to a week to extinguish, said authorities.
Denbury Buys ConocoPhillips’ Cedar Creek Anticline Portfolio
ConocoPhillips is selling a package of properties in the Cedar Creek Anticline (CCA) of North Dakota and Montana to Denbury Resources Inc. for $1.05 billion cash.
Ziff: Associated Gas Projected at 12 Bcf/d By 2020
After hitting a low point five years ago, associated gas is projected to grow to more than 12 Bcf/d, or about 15% of the North American natural gas supplies in 2020, according to a report released last Tuesday by Canadian-based Ziff Energy.