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Industry Briefs

The Environmental Defense Fund (EDF) wants to hire a “state regulatory and legislative affairs manager” based in Washington, DC, who would to focus on natural gas. The manager would ” assist in organizing and managing efforts to enact a comprehensive set of regulations and reforms in key natural gas producing states,” with emphasis on the…

February 7, 2013

Penn Virginia Grows Proved Oil, NGL Reserves

Six months after selling its Appalachian Basin portfolio to focus on the oily Eagle Ford Shale, Penn Virginia Corp. (PVA) said its operations in the latter were moving forward while proved reserves of oil and natural gas liquids (NGL) had increased during 2012.

January 31, 2013
Gasco’s Plan to Drill in Utah’s Uinta Basin Challenged

Gasco’s Plan to Drill in Utah’s Uinta Basin Challenged

Four environmental groups have filed suit against the Interior Department’s Bureau of Land Management (BLM) seeking to reduce the amount of drilling approved for Gasco Energy Inc. in Utah’s remote Uinta Basin shale formation.

January 30, 2013

Hess Selling Terminals, Refining Business to Focus on E&P

Hess Corp. said Monday it plans to sell its oil terminal network in the United States and close its refinery at Port Reading, NJ, part of its strategy to completely exit the refining business and transform into an exploration and production (E&P) company focused on unconventional assets.

January 29, 2013
Bakken Helps Continental Nearly Double Its Proved Reserves

Bakken Helps Continental Nearly Double Its Proved Reserves

Continental Resources Inc. announced Wednesday that its proved reserves have nearly doubled, driven primarily by strong production growth in North Dakota and Montana’s portions of the Bakken Shale, and part from a legacy play in south-central Oklahoma.

January 28, 2013

Chesapeake’s McClendon Loses Bonus, Some Perquisites

Chesapeake Energy Corp.’s board is withholding CEO Aubrey McClendon’s 2012 bonus and has cut some of his perquisites, according to a filing with the Securities and Exchange Commission.

January 14, 2013

LDC Equitable Merging into Peoples Gas

SteelRiver Infrastructure Partners, owner of Peoples Natural Gas, is acquiring Equitable Gas Co. LLC from EQT Corp. in exchange for $720 million and “select midstream assets and commercial arrangements” in the Marcellus Shale region, the companies said Thursday.

December 24, 2012

LDC Equitable to Be Merged into Peoples Gas

SteelRiver Infrastructure Partners, owner of Peoples Natural Gas, is acquiring Equitable Gas Co. LLC from EQT Corp. in exchange for $720 million and “select midstream assets and commercial arrangements” in the Marcellus Shale region, the companies said Thursday.

December 21, 2012

Encana ‘Cautiously Optimistic’ on Natural Gas, But Liquids Still Focus

Encana Corp. CEO Randy Eresman, whose company is one of the largest onshore producers in North America, said Wednesday the company remains “cautiously optimistic about our natural gas price recovery this year. We continue to see evidence on both the demand and supply front that supports this assertion.”

October 26, 2012

Halcon Bulks Up in North Dakota

Halcon Resources Corp. on Monday said it is acquiring a shelf of oil-weighted producing and undeveloped properties in the Williston Basin in a cash-and-equity transaction with Petro-Hunt LLC worth $1.45 billion.

October 23, 2012