Depletion

North Dakota Production Soars While Well Completions Slow

North Dakota Production Soars While Well Completions Slow

Driven by the Bakken Shale play, North Dakota’s oil and natural gas production continued to soar in May, but well completion rates were slowing amid a continued boom for drilling new wells, according to the latest monthly report from the state’s Department of Mineral Resources (DMR).

July 16, 2013

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.

December 21, 2012

Pennsylvania Lost $200 Million Without Natural Gas Production Tax

Pennsylvania lost nearly $200 million in state revenue by not imposing a tax on natural gas in October 2009, according a statewide think tank.

July 18, 2011

Range to Jettison Barnett Stake to Focus on ‘Liquids-Rich’ Marcellus

Marking a U-turn of sorts in the company’s exploration and production strategy due to low natural gas prices and a premium on liquids prices, Range Resources Corp. in its 3Q2010 earnings call put its Barnett Shale properties in Texas on the block and announced that it plans to focus on its “liquids-rich plays” in the Marcellus Shale.

October 29, 2010

Winter Weather Could Reset 2010 Gas Market

The risk of a “winter weather reset” of the natural gas market based on depletion of gas in storage has come in higher and sooner than forecast, Barclays Capital analysts said last week. As succeeding waves of super cold plague vast areas of the country, all are watching the storage numbers closely. The volume of gas remaining in storage on March 31 will set the tone of the market for the rest of the year.

January 11, 2010

Simmons Says World’s Energy Infrastructure Needs Big Fix

Oil and natural gas “rust” is an “evil worse than depletion,” and in the next seven years, $50-100 trillion should be earmarked to rebuild the world’s aging infrastructure, according to energy guru Matthew R. Simmons.

May 12, 2008

Simmons Says World’s Energy Infrastructure Needs Big Fix

Oil and natural gas “rust” is an “evil worse than depletion,” and in the next seven years, $50-100 trillion should be earmarked to rebuild the world’s aging infrastructure, according to energy guru Matthew R. Simmons.

May 12, 2008

Alberta’s Sovereign Fund Party to U.S. Utility Buyout

With a vow to make the most of natural gas wealth before depletion dries up the gravy train, the Alberta government is emerging as an international private equity investor with a taste for energy niches.

April 28, 2008

Alberta’s Sovereign Fund Party to U.S. Utility Buyout

With a vow to make the most of natural gas wealth before depletion dries up the gravy train, the Alberta government is emerging as an international private equity investor with a taste for energy niches.

April 25, 2008

Analyst: Gas Depletion Has Arrived

The industry rumblings of a declining gas supply are not far offbase, said a report by David Pursell, an analyst for theinstitutional securities group Simmons & Co. Intl. Judging fromweekly American Gas Association (AGA) storage data and Departmentof Energy (DOE) LNG production figures, the report forecast the gasdecline rate could surpass 4% in the coming months when compared tolast year, unless a sharp increase in gas-directed drilling takesplace. Using these findings, Pursell said gas prices should stayabove $2/Mcf for the near future.

July 14, 1999