Boosted

The U.S. energy sector is “at the cusp” of a structural shift, boosted by abundant shale gas and liquids, developing scarcity in domestic coal and the never-ending quest for oil, FBR Capital analysts said in a report.

The U.S. energy sector is “at the cusp” of a structural shift, boosted by abundant shale gas and liquids, developing scarcity in domestic coal and the never-ending quest for oil, FBR Capital analysts said in a new report.

Thanks to strong oil and liquids production growth and its ongoing divestiture strategy of noncore assets, Devon Energy Corp. boosted 3Q2010 net earnings to $2.1 billion, or $4.81 per common share ($4.79 per diluted common share), up from $499 million, or $1.13 per common share ($1.12 per diluted common share) during 3Q2009. Excluding adjusted items, which included the $1.5 billion gain on the sale of assets in Azerbaijan, the company earned $628 million, or $1.44 per diluted common share.

Thanks to strong oil and liquids production growth and its ongoing divestiture strategy of noncore assets, Devon Energy Corp. boosted 3Q2010 net earnings to $2.1 billion, or $4.81 per common share ($4.79 per diluted common share), up from $499 million, or $1.13 per common share ($1.12 per diluted common share) during 3Q2009. Excluding adjusted items, which included the $1.5 billion gain on the sale of assets in Azerbaijan, the company earned $628 million, or $1.44 per diluted common share.

Unconventional natural gas player Quicksilver Resources Inc. last week reported that it beat Wall Street’s expectations in 2Q2010, boosted by increased production and higher commodities prices.

Unconventional natural gas player Quicksilver Resources Inc. on Monday beat Wall Street’s expectations in 2Q2010, boosted by increased production and higher commodities prices.

Nabors Industries Ltd. CEO Gene Isenberg said his company’s 1Q2010 results were boosted by larger-than-expected increases in the U.S. Lower 48, as well as its Alaskan and Canadian business segments.

Nabors Industries Ltd. CEO Gene Isenberg said his company’s 1Q2010 results were boosted by larger-than-expected increases in the U.S. Lower 48, as well as its Alaskan and Canadian business segments.

The recent proliferation of shale and tight sands natural gas development has boosted U.S. natural gas reserves for the eleventh consecutive year to 245 Tcf — the highest level in more than 35 years, according to American Gas Association’s (AGA) year-end 2009 data. “Something is obviously positive in the domestic reserves and production story,” the association said.