The chair of the Railroad Commission of Texas has directed commission staff to look into its existing rules on water recycling in the oil and gas patch. “If we need to streamline our old rules and make amendments where necessary to encourage companies to expand their recycling activities, then that is what we will do,” said Chair Elizabeth Ames Jones. “…[W]e must maintain that hydraulic fracturing can continue to benefit Texas by allowing companies to manage water use and conserve when possible as it relates to this process of energy production.”
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Antero Pays $193M to Increase Marcellus Leasehold
Antero Resources has acquired from CONSOL Energy a 7% overriding royalty interest in approximately 115,647 net acres in the Marcellus Shale in southwestern Pennsylvania and north central West Virginia for $193 million, the companies said Monday. The deal closed Sept. 21 with an effective date of July 1, 2011.
Gas Output ‘Turning Point’ in Late 2012
The U.S. natural gas-directed rig count has fallen from its 2009 peak, but the “turning point” for domestic gas supplies won’t happen until the end of 2012, according to a report by Barclays Capital.
No Decline in U.S. Gas Output Expected Before Late 2012
The U.S. natural gas-directed rig count has fallen from its 2009 peak, but the “turning point” for domestic gas supplies won’t happen until the end of 2012, according to a report by Barclays Capital.
Near-Flat Quotes Again Rule, But Dips Dominant
The cash market proved to be more resilient than expected Friday. Despite cool to merely warm forecasts dominating in most areas, the expiration-day drop of 5.3 cents by June futures a day earlier and the extra loss of industrial demand over a long holiday weekend, prices remained near flat in most cases and rose at several locations.
Dallas Forming Drilling Task Force
The mayor of Dallas has directed city council to form a Gas Drilling Task Force and appointed a former council member to lead the body.
Obama Touts Shale Gas; Taps Energy Secretary to Tackle Fracking Safety
In a major speech on national energy security Wednesday, President Obama promoted natural gas as a way forward for the United States and said he has directed Energy Secretary Steven Chu to work with other agencies, the natural gas industry, states and environmental experts to improve the safety of hydraulic fracturing (fracking).
Newfield Shifts Focus, Spending to Oil, Liquids
Newfield Exploration Co. said it will spend about $1.7 billion this year on exploration and production activity, with two-thirds directed to oil plays and the rest focused on liquids-rich natural gas. The amount is equivalent to the company’s estimate of 2011 cash flow from operations.
Newfield Shifts Focus, Spending to Oil, Liquids
Newfield Exploration Co. said it will spend about $1.7 billion this year on exploration and production activity, with two-thirds directed to oil plays and the rest focused on liquids-rich natural gas. The amount is equivalent to the company’s estimate of 2011 cash flow from operations.
GMX Resources Adds Oily Bakken, Niobrara Reserves
GMX Resources Inc. (GMXR) said it has branched out from its Haynesville/Bossier natural gas-directed properties, collecting about 67,724 net acres within the core horizontal oil development areas of the Bakken/Sanish-Three Forks Formation in the Williston Basin and the Niobrara Formation in the Denver-Julesburg (DJ) Basin.