Exchange

SEC Challenged on Extractive Disclosure Rule

Four trade associations last Tuesday filed a lawsuit challenging a Securities and Exchange Commission (SEC) rule requiring publicly traded domestic oil and natural gas producers to disclose to the public commercially sensitive information that could put them at a major disadvantage with foreign-owned energy companies.

October 15, 2012

Associations Challenge SEC Extractive Disclosure Rule

Four trade associations Tuesday filed a lawsuit challenging a Securities and Exchange Commission (SEC) rule requiring publicly traded domestic oil and natural gas producers to disclose to the public commercially sensitive information that could put them at a major disadvantage with foreign-owned energy companies.

October 12, 2012

Mesa Energy Building Mississippian Limestone Position

Dallas-based Mesa Energy Holdings Inc. has leased 1,525 net acres in Garfield and Major counties, OK, and has closed on a farmout agreement with Twenty/Twenty Oil & Gas Inc. covering 1,720 net acres that are held by production.

September 7, 2012

Corridor Exploring Macasty Formation on Quebec’s Anticosti Island

Corridor Resources Inc. and partner Petrolia Inc. are conducting a three-part exploration program on Anticosti Island in the Gulf of Saint Lawrence to advance the “exploration and development potential of the vast shale oil prospect” on the 3,050 square-mile island, Corridor said.

September 6, 2012

SEC Adopts Disclosure for Oil, Gas Extraction Payments

In a setback for oil and natural gas producers, the Securities and Exchange Commission (SEC) last week narrowly voted out rules that would force U.S. producers to disclose commercially sensitive information that could put them at a major disadvantage with foreign -owned energy companies.

August 27, 2012
Updated Pennsylvania Figures Show Even Steeper Rise in NatGas Production

Updated Pennsylvania Figures Show Even Steeper Rise in NatGas Production

An updated biannual report posted by the Pennsylvania Department of Environmental Protection (DEP) shows that the state’s natural gas production saw a more than 40% increase in the first half of 2012 compared to the second half of 2011, and more than doubled in a year.

August 24, 2012

SEC Adopts Disclosure Rules on Oil, Gas Extraction Payments

In a setback for oil and natural gas producers, the Securities and Exchange Commission (SEC) Wednesday narrowly voted out rules that would force U.S. producers to disclose commercially sensitive information that could put them at a major disadvantage with foreign -owned energy companies.

August 23, 2012

Chimera, Pemex Collaborate on Non Hydraulic Extraction System

Chimera Energy Corp. officials traveled to Mexico City Monday to continue their discussions with Pemex on the use of the U.S. company’s new nonhydraulic extraction system that aims to replace hydraulic fracturing (fracking).

August 15, 2012

Devon Takes Sumitomo as Partner in Permian

Devon Energy Corp. last week secured $1.4 billion from Japan’s Sumitomo Corp. in exchange for a 30% stake in 650,000 net acres in the Permian Basin’s Cline and Midland-Wolfcamp shales.

August 6, 2012

Industry Brief

Pioneer Drilling Co. has changed its name to Pioneer Energy Services Corp. The company’s common stock will continue to trade on the New York Stock Exchange but will trade under the new ticker PES. Pioneer’s website is now www.pioneeres.com. “Over the last five years, we have transformed Pioneer from a pure-play domestic land contract driller to a diversified energy services provider with operations across the United States and in Colombia,” said CEO Wm. Stacy Locke. “Today, approximately 50% of our revenues and operating margin are derived from our production services segment. We operate 102 well servicing rigs, 117 wireline units, 11 coiled tubing units and an array of fishing and rental tools in addition to our 66 drilling rigs. Our core services are heavily concentrated in the Bakken, Eagle Ford, Permian and along the Gulf Coast, both onshore and offshore. This new name reflects who Pioneer is today.”

July 31, 2012