SandRidge Energy Inc.’s revamped board of directors is making good on its promise to review the company’s strategy and costs — including a potential decrease in rig count — and allegations made against embattled CEO Tom Ward by hedge fund TPG-Axon Capital.
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Gas Flaring Bills Still in Play in North Dakota
North Dakota lawmakers continue holding hearings and debating the merits of energy bills to create incentives for less associated gas flaring at the wellhead and to provide tax relief for oil and gas producers, a spokesperson for the state Department of Mineral Resources (DMR) told NGI’s Shale Daily Monday.
Refocused on Appalachia, Antero Grew Production Last Year
While it let go of acreage in the Arkoma and Piceance basins last year, production from Antero Resources’ booming Marcellus Shale activities more than made up for their absence in the company’s portfolio of producing assets.
‘No Intentional Misconduct’ by McClendon, Says Chesapeake
Chesapeake Energy Corp. CEO Aubrey McClendon’s controversial financing transactions “did not reveal any improper benefit” to him nor did they increases costs to the company “as a result of the overlap in financial relationships,” the board of directors said Wednesday.
CAISO, PacifiCorp Agreement to Impact Gas-Fired Power
California’s electricity grid operator and Portland, OR-based PacifiCorp announced Tuesday an agreement to create a real-time market mechanism for improving the dispatching of power — a widespread efficiency improvement in the electric generation sector that could have lasting impact on demand for natural gas throughout the West.
Consol Shifting Gears in Utica, From Exploration to Development
Consol Energy Inc. announced Friday that it would begin shifting its Utica Shale program in Noble County, OH, from exploration to development mode, after seeing encouraging results and data from its test wells and those of its competitors in the play.
Natural Gas-Powered Frack Pumps Could Save $$Billions
Halliburton, Apache Corp. and Caterpillar have developed a dual-fuel technology for using natural gas and diesel to operate pumping equipment used in hydraulic fracturing (fracking) at oil and gas well sites.
Noble Energy Considering Larger Offices in Marcellus
Noble Energy Inc. is considering a move to larger offices in the Marcellus Shale to accommodate its growing presence in the play.
Gulfport Tacks More Utica Acreage Onto Agreement in Ohio
Four days after Gulfport Energy Corp. said it would buy 30,000 net acres in the Utica Shale in eastern Ohio, the company announced Thursday that the agreement has been amended to include an additional 7,000 net acres for $70 million.
Chesapeake Offers Voluntary Layoffs
Chesapeake Energy Corp. on Friday has offered a “voluntary separation program” for some of its employees as part of efforts to improve efficiencies and reduce costs. The layoffs, the third round since June, would remove about 2% of Chesapeake’s workforce of nearly 12,500.