Eagle Ford

An executive with ConocoPhillips said the company is taking its time to test and understand the geology of the Permian Basin, following the same approach it used to develop its position in the Eagle Ford Shale, but that merger and acquisition (M&A) activity is “not a priority.”

Five months after emerging from bankruptcy, Samson Resources II LLC has agreed to sell its assets in East Texas and North Louisiana to an affiliate of Rockcliff Energy II for $525 million, and it plans to focus on developing its remaining assets in Wyoming’s Green River and Powder River basins.

Sanchez Energy Corp. said a new well targeting the Eagle Ford Shale in South Texas achieved record 24-hour initial production (IP) and had 30-day peak production significantly higher than its type curve for the area, as the company headed toward growing its year-over-year production by 65%.

Sanchez Energy Corp. has sold one piece of its Eagle Ford Shale portfolio to concentrate more funding in the western part of the formation, the Houston-based independent said Friday.

BHP Billiton Ltd. on Wednesday detailed a sweeping plan to accelerate some U.S. activity onshore and offshore, highlighting plans to raise more natural gas rigs in the Haynesville Shale, swap land in the Permian Basin, complete more wells in the Eagle Ford Shale and sell off the Fayetteville Shale portfolio.

Houston-based Penn Virginia Corp. (PVA) common shares have begun trading on the NASDAQ Global Select Market under the trading symbol “PVAC.” Trading has ceased on the OTCQX U.S. Premier Market. “We believe the move to NASDAQ will improve the visibility of our stock, enhance trading liquidity in our shares and reposition the company for long-term profitable growth,” said interim CEO John Brooks. PVA is an independent oil and gas company mainlyfocused on the Eagle Ford Shale in South Texas.

Halcon Resources Corp. said late Tuesday it would revive its drilling program in its El Halcon area of the Upper Eagle Ford Shale in East Texas early next year, citing firming oil prices and encouraging results from offset wells in the region as part of its decision.

FERC granted one variance request by Impulsora Pipeline LLC, but denied a second one, as the pipeline that is to carry natural gas produced in the Eagle Ford Shale to markets in Mexico moves forward.

Denver-based SM Energy Co. said Wednesday it plans to focus most of its capital on the Permian Basin as it digests acquisitions there. Plans for the first quarter include restarting drilling in the Eagle Ford Shale, where production declined during the third quarter.