Magnum Hunter Resources Corp. is raising its production guidance for this year and next year based upon better-than-expected well results, according to the Houston-based company. Magnum Hunter is currently producing 12,500 boe/d, compared to its 10,000 boe/d guidance for the year. The company expects to close out 2012 producing 14,500 boe/d, up from its previous projection of 13,000 boe/d. Magnum Hunter operates in the Marcellus, Eagle Ford and Bakken shales. “We are very fortunate to have three resource plays within our portfolio that are now ‘hitting on all cylinders’ and providing an increase in our overall production levels well above expectations,” said CEO Gary C. Evans. “This is especially rewarding when our management team has been able to achieve these milestones while also staying within our original capital budget plan.”
Canada
Articles from Canada
ExxonMobil: North American Energy Imports ‘Nearly Zero’ by 2040
Because of the abundance of natural gas and oil now being unearthed in North America, energy imports into the United States and Canada will steadily decline and be “down to almost zero” by 2040, an ExxonMobil Corp. executive said Thursday.
All Points Fall Due to Moderate Holiday Weather Forecasts
Predictions of moderate temperatures in most areas — except for freezing lows in much of Canada, just on the other side of the border and occasionally in sections of the Rockies — along with the additional loss of industrial load associated with a holiday weekend and fulfilled anticipation of continued storage injections prompted sizeable cash market declines across the board Sunday.
Weather Firms Midwest Quotes as Rest of Market Weakens
Cash prices across the board were mainly weak Wednesday for Thursday delivery, but a large weather system heading south out of Canada was able to lift quotes on Midcontinent pipelines as the system was forecast to head east. Rockies quotes followed Tuesday’s futures swan dive, and eastern traders unloaded gas as they digested near-term weather forecasts.
SemGroup Rejects Plains Merger Offer
SemGroup Corp. on Monday soundly rejected a $1.24 billion takeover bid by Plains All American Pipeline LP, calling the offer “opportunistic” and failing to reflect the company’s “bright prospects.”
Launching Pad for LNG Exports: Kitimat, BC?
Kitimat, just in from the coast in northwestern British Columbia (BC), which has its roots as a company town planned and built in the 1950s by the Aluminum Co. of Canada, is quickly becoming the company town for liquefied natural gas (LNG). Royal Dutch Shell plc on Thursday confirmed that it has purchased an marine import terminal there and now is exploring — with its Asian partners — its potential as an LNG export facility.
Kitimat Becoming Launching Pad for LNG Exports
Kitimat, a coastal community in northwestern British Columbia (BC), which has its roots as a company town planned and built in the 1950s by the Aluminum Co. of Canada, is quickly becoming the company town for liquefied natural gas (LNG). Royal Dutch Shell plc on Thursday confirmed that it has purchased an marine import terminal there and now is exploring — with its Asian partners — its potential as an LNG export facility.
Onshore NGL, Crude Output Bursting at the Seams, Say Analysts
Abundant natural gas liquids (NGL) and crude oil growth have led to dozens and dozens of new infrastructure projects for both the United States and Canada, and they can’t come soon enough, according to energy analysts.
Oilfield Service Company Pleads Guilty to Fracking-Related Violation
A Houston-based oilfield services company Tuesday pleaded guilty to a violation of the Clean Water Act (CWA) in connection with the hydraulic fracturing (fracking) of a natural gas well in Oklahoma, according to the Department of Justice (DOJ).
West Virginia’s Midstream Services Expand to Meet Marcellus Demand
Midstream natural gas processing services offered by MarkWest Liberty Midstream & Resources LLC in northwestern West Virginia continue to expand after the operator on Wednesday secured long-term agreements with pipeline subsidiaries of Magnum Hunter Resources Corp.
