Decreased

National Oilwell Varco Sees Record Backlog as Equipment Orders Double

National Oilwell Varco Sees Record Backlog as Equipment Orders Double

Backlog for capital equipment orders in National Oilwell Varco’s (NOV) rig technology segment was $13.95 billion at the end of 2Q2013, a record high, 8% higher than at the end of 1Q2013 and 24% higher than at the end of 2Q2012, the company said Tuesday.

July 31, 2013

WPX Gas Discovery in Piceance Could ‘More Than Double’ 3P Reserves

With an average production rate of almost 10 MMcf/d in the first quarter, a discovery well in the Piceance Basin may produce in the first few months what a typical well in the Niobrara formation has done over 25 to 30 years, WPX energy CEO Ralph Hill said Thursday.

May 6, 2013

Carrizo CEO: ‘Not Treading Water’ With Gas

Like many, but not all, producers, Houston-based Carrizo Oil & Gas Inc. has shifted to oil because that’s where the profits are.

November 8, 2012

Decline in U.S. Onshore Gas Activity Slams Baker Hughes

Baker Hughes Inc., the industry’s third-largest oilfield services provider, said Friday the slump in U.S. natural gas activity weighed heavily on its latest quarterly profits. However, the No. 1 oilfield services provider, Schlumberger Ltd., managed to avoid the carnage in North America’s onshore by accelerating activity overseas.

October 22, 2012
Escondido Resources: Eagle Ford Well Highest Gas Producer to Date

Escondido Resources: Eagle Ford Well Highest Gas Producer to Date

Midland, TX-based Escondido Resources II LLC touted Wednesday what it said is the highest-producing natural gas well to date in the Eagle Ford Shale of South Texas: its Spohn Ranch 1H well in the Hawkville Field in Webb County.

September 21, 2012

Cabot Gas, Liquids Output Jumps in 2Q

Citing continued downward pressure on natural gas prices, Houston-based Cabot Oil & Gas Corp. on Wednesday reported a 40% increase in production but decreased earnings in the second quarter from a year ago. Both natural gas and liquids production continued to soar, up 37% and 96%, respectively, CEO Dan Dinges said during a conference call with financial analysts.

July 30, 2012

Cabot Liquids Production Up, Profits Down on Low Gas Prices

Citing continued downward pressure on natural gas prices, Houston-based Cabot Oil & Gas Corp. on Wednesday reported a 40% increase in production but decreased earnings in the second quarter from a year ago. Both natural gas and liquids production continued to soar, up 37% and 96%, respectively, CEO Dan Dinges said during a conference call with financial analysts.

July 26, 2012

NW Natural Likes Storage Despite Current Lows

Despite current low prices and decreased volatility that are making natural gas storage plays unattractive, Portland, OR-based NW Natural is sticking with its strategy for operating and expanding merchant storage facilities in the West.

April 16, 2012

California Unconcerned About National Gas Drilling Cutbacks

Signs in the natural gas patch that drilling will be slowed or halted in some basins, and reports of decreased pipeline volumes flowing east are being watched out West, but California energy officials for are not concerned about shortages and price spikes on the horizon. Analysts at the California Energy Commission (CEC) said they are not ready to alter any of their forecasts for 2012.

January 27, 2012

Industry Brief

Natural gas utility rates in Nevada have dropped again, marking a 30% decrease since January 2009. Electric rates also decreased, and NV Energy attributed both retail utility rate drops to a combination of factors, with lower wholesale natural gas costs being a major one. With a 10.72% decrease in retail gas rates for its northern Nevada customers, the utility said the average monthly gas bill for residential customers will be more than $22 less than it was in 2009. “Adding today’s decreases will roll back total natural gas prices to 2001 levels and total electric utility prices to 2004,” NV Energy said. Factors driving the downward trend besides lower wholesale gas prices are a new state-of-art combined-cycle gas-fired generation plant, a broader, more gas-fired utility owned generation fleet and a decline in energy costs generally.

October 3, 2011
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