Budget

While the debate over drilling on state land in Pennsylvania is focused on parks and forests, another state landowner is looking to collect revenue by selling public resources to the natural gas industry: the Pennsylvania Fish and Boat Commission (PFBC).

Escondido Resources II LLC of Midland, TX, has sold 11,050 net acres in the Eagle Ford Shale for $115.3 million. The sale consists of three distinct blocks of acreage located mainly in La Salle County in South Texas, Escondido said Tuesday.

Public support for a state-imposed tax on natural gas drilling in Pennsylvania’s Marcellus Shale region remains solid, according to the results of a survey of 800 registered voters conducted between Dec. 27 and Jan. 2.

Promising “painful” budget recommendations to come, California Gov. Jerry Brown reaffirmed his commitment to renewable energy and efficiency programs as part of a sobering inaugural speech following his swearing in last Monday in Sacramento as the 39th governor of the state. Missing in his brief remarks was any mention of climate change, environmental issues or traditional fossil fuels.

Hess Corp. said Friday said it will spend more than one-third of its 2011 global capital budget on unconventional oil projects. Recent acquisitions have propelled the company to No. 2 in the Bakken Shale in North Dakota, and some Hess dollars will flow there this year.

Hess Corp. said Friday it will spend more than one-third of its 2011 global capital budget on unconventional oil projects. Recent acquisitions have propelled the company to No. 2 in the Bakken Shale in North Dakota, and some Hess dollars will flow there this year.

Hess Corp. said Friday it will spend more than one-third of its 2011 global capital budget on unconventional oil projects. Recent acquisitions have propelled the company to No. 2 in the Bakken Shale in North Dakota, and some Hess dollars will flow there this year.

Promising “painful” budget recommendations to come, California Gov. Jerry Brown reaffirmed his commitment to renewable energy and efficiency programs as part of a sobering inaugural speech following his swearing in Monday in Sacramento as the 39th governor of the state. Missing in his brief remarks was any mention of climate change, environmental issues or traditional fossil fuels.

Houston-based Goodrich Petroleum Corp. said Monday its preliminary 2011 capital expenditure budget is $225 million, a $30 million reduction from 2010 spending; however, production is expected to grow.