Estimated

Bolstered by record production, especially in the southwest Pennsylvania portion of the Marcellus Shale, and revisions to its estimated ultimate recovery (EUR) curves, Range Resources Corp. reported net earnings of nearly $144 million for the second quarter of 2013.

ExxonMobil Corp. subsidiary XTO Energy Inc. will pay a $100,000 penalty and spend an estimated $20 million on a plan to improve wastewater management practices following a settlement with federal authorities to resolve an alleged violation of the Clean Water Act related to the discharge of hydraulic fracturing wastewater at a Lycoming County, PA, facility.

Malaysia national oil and gas company Petronas (Petroliam Nasional Berhad) is in negotiations to sell a 10% stake in Canadian shale properties it acquired last year to the state-owned Indian Oil Corp. Ltd. (IOC).

Rents and royalties reported on Pennsylvania income tax returns from 2006 to 2010 have increased 61% statewide, and 119% in counties with Marcellus Shale activity, according to a report by the Allegheny Institute for Public Policy (AIPP). Rent and royalty income for landowners and mineral rights owners in the state rose 34% in counties with no Marcellus activity.

EQT Corp. released updated information for its investors on Friday, including higher projections for estimated ultimate recovery (EUR) at wells in its core Marcellus Shale acreage, thanks to reduced cluster spacing, longer laterals and a pending deal with Chesapeake Energy Corp.

Gulfport Energy Corp. expects to increase the number operated horizontal rig count in the Utica Shale to seven from the current four by the end of June, and it has budgeted $494-504 million to drill 55-60 gross (49-54 net) wells in the play this year, company officials said Wednesday.

Williams Partners LP and a unit of Royal Dutch Shell plc have partnered on an ambitious midstream venture to invest in natural gas liquids (NGL) and dry gas handling infrastructure to serve Marcellus and Utica shale operators in northwestern Pennsylvania and northeastern Ohio.

Chesapeake Energy Corp.’s co-founder and CEO Aubrey McClendon officially stepped out of the batter’s box Monday, but there’s no permanent replacement and no timetable on when a successor will be named, said acting CEO Steven Dixon. However, operations are running “smoothly,” despite some constraints in the Utica Shale.

Overall oil production in Texas declined somewhat in January from December, according to preliminary January production figures from the Railroad Commission of Texas (RRC). But the Eagle Ford Shale kept on pumping, with leading Eagle Ford counties charting substantial oil production increases from year-ago levels.