Company

Appalachian operator Eclipse Resources Corp. is raising its 2016 production guidance by 7% after increasing its net daily production by 19% year/year during the second quarter, the company said Monday.

U.S. Energy Corp. (USEG) plans to dip its toes in the Niobrara-Denver Julesburg (DJ) Basin, with a $9.6 million deal to participate in development in the Wattenberg Field in Weld County, CO.

As the fallout from the messy break-up of Williams Companies Inc. and Energy Transfer Equity LP continues (see Daily GPI, July 1), two other major natural gas industry mergers have been finalized.

Pacific Gas and Electric Co.(PG&E) may begin to implement a precedent-setting plan after California’s State Lands Commission approved a lease extension for the utility’s Diablo Canyon Nuclear Power Plant. The extension would allow the plant to run through the now-targeted shutdown in 2025. PG&E has to file a proposal with the California Public Utilities Commission and convene a conference of interested parties related to settlement reached earlier in June (see Daily GPI,June 21). The State Lands extension was one of five contingencies listed in the settlement agreement.

Rex Energy Corp. is pushing ahead on its recently acquired Moraine East area in Western Pennsylvania’s northern Butler County, announcing Tuesday that it has completed 20 Marcellus and Upper Devonian shale wells there since it started drilling operations last year (see Shale Daily,June 11, 2015).

TPH Partners, the private equity arm of Tudor, Pickering, Holt & Co., has formed multi-service water management company EnWater Solutions LLC to serve oil and gas operators in the Permian Basin. The Midland, TX-based company combined the partnership’s existing water business in the Permian and assets from Pelagic Water Systems LLC. Services range from high-volume saltwater disposal facilities to permanent and temporary water pipelines. Micky Thacker, a former Flint Energy Services executive, was named CEO.

A Chicago-based power generation firm’s proposal to build a 550 MW natural gas-fired power plant about 20 miles south of Pittsburgh in Elizabeth Township has hit a roadblock after the zoning board there voted earlier this week against a variance that would allow the plant to be built.

A U.S. bankruptcy court has approved Penn Virginia Corp.’s restructuring plan a month after the 134 year-old company filed for Chapter 11 protection, giving it what could be a swift exit from the proceedings.

After months of trying to reach an out-of-court agreement with its creditors and bondholders, Warren Resources Inc. became one of the latest oil and natural gas producers to succumb to the commodities downturn, filing voluntary petitions for Chapter 11 bankruptcy protection on Thursday.