Bcfe

Onshore operator Ultra Petroleum Corp. has completed its in-court restructuring and emerged from voluntary bankruptcy protection, having raised $2.98 billion in exit financing to fully reimburse its creditors and preserve some value for equity holders.

QEP Resources Inc. continues transitioning to an oilier production mix, with the exploration and production (E&P) company planning to add rigs in the Permian Basin by the end of 2016.

Record natural gas and liquids production at Consol Energy Inc. was overshadowed during the first quarter by low commodity prices that pushed profits lower, hurt sales revenue and forced the company to implement more cost-cutting measures.

Record natural gas and liquids production at Consol Energy Inc. was overshadowed during the first quarter by low commodity prices that pushed profits lower, hurt sales revenue and forced the company to implement more cost-cutting measures.

Rex Energy Corp. said Monday that its estimated proved reserves exceeded 1 Tcfe, thanks in large part to its core operating areas in eastern Ohio and Western Pennsylvania, where the company has reported increasing success in the last year or so (see Shale Daily, Jan. 16).

Consol Energy Inc. added 1.63 Tcfe to its proved reserves through extensions and discoveries in 2013, which the company said on Thursday marks the fifth consecutive year that drillbit finding and development costs were less than 50 cents per Mcfe.

With recent production from the Eagle Ford Shale and Niobrara Formation, Carrizo Oil & Gas Inc. passed its target of 5,000 net b/d, the company announced Wednesday.

While it kicks off a long-term partnership with Chesapeake Energy Corp. on a drilling program in the Utica Shale of eastern Ohio, EV Energy Partners LP (EVEP) is preparing its own exploration campaign in the region.

Chesapeake Energy Corp. CEO Aubrey McClendon told financial analysts on Friday the company’s Utica Shale leasehold in Ohio “is likely most analogous, but economically superior to, the Eagle Ford Shale in South Texas.”