Dallas-based Exco Resources Inc. is dropping more than half of its drilling rigs in the Haynesville Shale this year, cutting one rig in the Marcellus and deferring well completions in natural gas plays. However, CEO Doug Miller said Friday there are “huge opportunities” to buy distressed properties, which the company intends to pursue.
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Gas Prices Prompt Pioneer to Tweak Drilling Plan
Dallas-based Pioneer Natural Resources Co. reported a 9% sequential increase in production for the fourth quarter and attributed the success to “three core liquids-rich growth assets in Texas.” In light of low prices for dry gas, the company has tweaked some of its drilling plans while it continues to high-grade liquids-rich drilling.
Industry Brief
Dallas-based J-W Energy Co. said it is consolidating midstream activities currently conducted by subsidiaries J-W Gathering Co., J-W Pipeline Co. and Q-West Energy Co. into a single subsidiary, J-W Midstream Co. The goal of the new subsidiary is to expand J-W Energy’s presence as a full-service provider of midstream services to the upstream natural gas sector. J-W Midstream operates more than 400 miles of natural gas pipeline systems in Louisiana, Texas and Wyoming, and has the capacity to gather and treat more than 600 MMcf/d at 17 facilities, the company said.
Weir Makes Play for Another Unconventional Drilling Provider
UK-based Weir Group plc this week struck a $176 million deal to acquire Dallas-based Novatech LLC, its second oilfield services purchase in two months. The transaction would give Weir an even bigger footprint in North America’s onshore.
Marubeni Adds Eagle Ford Stake to Shale Portfolio
A unit of Japan’s Marubeni Corp. has struck a deal to acquire a 35% stake in Dallas-based Hunt Oil Co.’s Eagle Ford Shale holdings. Marubeni pledged Friday to grow its stake in shales, in the United States and around the world.
Atmos Energy Slapped with Nearly $12M Penalty for FERC Violations
FERC Friday approved a stipulation and consent agreement levying nearly $12 million in penalties on Dallas-based Atmos Energy Corp. for capacity flipping and shipper-must-have-tile (SMHT) violations.
EPA Proposes Crackdown on Shale Patch Air Emissions
In a landmark maneuver Thursday the U.S. Environmental Protection Agency (EPA) released a list of proposed standards to reduce air pollution from oil and natural gas drilling operations, with particular attention paid to shale development operations, which include hydraulic fracturing (hydrofracking).
FERC Clears ETC Tiger Pipeline Expansion for Service
The Federal Energy Regulatory Commission Tuesday approved a request by ETC Tiger Pipeline LLC, a unit of Dallas-based Energy Transfer Partners LP, to place a 400 MMcf/d expansion of its system in service.
ETC Tiger Seeks OK for Expansion
ETC Tiger Pipeline LLC, a unit of Dallas-based Energy Transfer Partners LP, has asked FERC for the green light to place into service by early August a 400 MMcf/d expansion of its system that services the Haynesville Shale and Bossier Sands.
ETC Tiger Seeks to Put Haynesville, Bossier Expansion in Service
ETC Tiger Pipeline LLC, a unit of Dallas-based Energy Transfer Partners LP, has asked FERC for the green light to place a 400 MMcf/d expansion of its system in service by early August.