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EnerVest Expects Utica Sale Before Year’s End; Barnett Picking Up

EnerVest Ltd., the second biggest leaseholder in the Utica Shale after Chesapeake Energy Corp., should complete the sale of a big chunk of its leasehold by the end of the year, CEO John Walker said Friday. The property sale could fetch as much as $6 billion for the privately held Houston operator and publicly traded arm EV Energy Partners (EVEP).

November 12, 2012

Abundant NatGas Supplies Help Push Dominion To Close Wisconsin Nuclear Plant

Dominion Resources Inc. announced Monday that it plans to close and decommission a nuclear power plant in Wisconsin next year, a decision the company said was made in part due to continuing low natural gas prices.

October 23, 2012

Colorado Governor Responds to Local Criticism

Colorado Gov. John Hickenlooper responded Thursday to criticism from local elected officials in his state who are upset over his government taking the city of Longmont, CO, to court over its oil and natural gas drilling rules. Legal action was what Hickenlooper called a “last resort” in a letter he sent to various local officials considering similar local drilling rules.

October 1, 2012
Eagle Ford Production Booming with Focus on Oil

Eagle Ford Production Booming with Focus on Oil

Crude oil production from the Eagle Ford Shale of South Texas has overtaken gas production, which is increasing the shale’s profitability, a recent analysis of the play has found.

August 28, 2012

FMC Builds Fracturing Services with Pure Energy Acquisition

To build its “shale-related businesses,” Houston-based oilfield services operator FMC Technologies Inc., better known for its subsea business, is acquiring Calgary’s Pure Energy Services Ltd. for US$285 million.

August 23, 2012

Rosetta Resources: Back at the (Gates) Ranch, There’s Profit

Houston-based Rosetta Resources Inc. grew net income and revenues during the second quarter, thanks to more production that was more heavily weighted to liquids. Where one goes to get that in Texas — as everyone knows — is the Eagle Ford Shale. As it continues to develop its core Gates Ranch area there, Rosetta is stepping out as well.

August 9, 2012

BHP Takes US$2.8B Charge on Fayetteville Fail

Australia’s BHP Billiton Ltd. is taking a US$2.84 billion pre-tax charge against the value of dry gas assets in the Fayetteville Shale that it acquired just last year due to weak natural gas prices and oversupply.

August 7, 2012

Cabot Liquids Production Up, Profits Down on Low Gas Prices

Citing continued downward pressure on natural gas prices, Houston-based Cabot Oil & Gas Corp. on Wednesday reported a 40% increase in production but decreased earnings in the second quarter from a year ago. Both natural gas and liquids production continued to soar, up 37% and 96%, respectively, CEO Dan Dinges said during a conference call with financial analysts.

July 26, 2012

Industry Brief

Chesapeake Midstream Partners LP has become Access Midstream Partners LP and is trading under the ticker ACMP on the New York Stock Exchange. A new website, www.accessmidstream.com, also was launched. In June Global Infrastructure Partners acquired the midstream partnership from Chesapeake Energy Corp. (see Daily GPI, July 3). New board members CEO J. Mike Stice, COO Robert S. Purgason and GIP principal William J. Brilliant join David A. Daberko, Domenic J. Dell’Osso Jr., Philip L. Frederickson, Matthew C. Harris, Suedeen G. Kelly and William A. Woodburn.

July 25, 2012

EIA: Shale Gas Unproved Reserves Numbers Unchanged From January

The U.S. Energy Information Administration (EIA) said it estimates that shale formations in the United States contain 483 Tcf of unproved technically recoverable natural gas and 33.2 billion bbl of unproved technically recoverable tight oil.

July 24, 2012
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