Coalbed

Gastar Exploration Ltd. on Tuesday said it plans to acquire Geostar Corp.’s oil and gas reserves and working interests in the Hilltop area of East Texas and coalbed methane (CBM) reserves in the Powder River Basin of Wyoming for about $73.5 million in cash and stock.

Pioneer Natural Resources plans to end a quest to produce coalbed methane (CBM) in the Matanuska-Susitna Borough of Alaska, a region once thought to hold 1 Tcf of natural gas, to focus its attention on North Slope activities.

EOG Resources’ CEO Mark Papa may call it “weird” gas, but coalbed methane (CBM), tight sandstone, biogenic gas and shale formations, otherwise known as unconventional natural gas resources, are an increasingly important component of the North American natural gas supply.

EOG Resources’ CEO Mark Papa may call it “weird” gas, but coalbed methane (CBM), tight sandstone, biogenic gas and shale formations, otherwise known as unconventional natural gas resources, are an increasingly important component of the North American natural gas supply.

Encouraged by early drilling success from its new coalbed methane (CBM) fields in the Raton Basin, Pioneer Natural Resource Co. expects to increase its natural gas-heavy production by as much as 6% this year, the CEO said Tuesday.

CONSOL Energy Inc., the second largest natural gas producer and reserve holder in the Appalachian Basin, has reported increases in both coalbed methane (CBM) production and reserve totals for 2004. The company increased its CBM reserves by 4% or 90 Bcf, to more than a Tcf during 2004, at the same time increasing production to 50 Bcf during the year, about 12% more than the 44 Bcf produced in 2003.

CONSOL Energy Inc., the second largest natural gas producer and reserve holder in the Appalachian Basin, has reported increases in both coalbed methane (CBM) production and reserve totals for 2004. The company increased its CBM reserves by 4% or 90 Bcf, to more than a Tcf during 2004, at the same time increasing production to 50 Bcf during the year, about 12% more than the 44 Bcf produced in 2003.

A conservation group claims in a new study that treating coalbed methane (CBM) wastewater through reinjection and injection is “practical and affordable,” and could lead to “more responsible” development practices in the Powder River Basin. The study was commissioned by the Northern Plains Resource Council, based in Billings, MT.

Energen Resources Corp. closed its previously announced purchase of San Juan Basin coalbed methane properties from a private company for an adjusted purchase price of $263 million. Located in the under-pressured Fruitland coal play, more than half of the estimated 240 Bcfe of proved gas and gas liquids (NGL) reserves are behind pipe and undeveloped, the company said. Gas accounts for 80% of the estimated proved reserves, with NGL making up the balance. The company also estimates that there are up to 60 Bcfe of probable reserves. A large development inventory from the acquisition is estimated at more than 110 infill wells. Future development costs are expected to be $50 million.