Fall

A surprise increase in natural gas prices could allow Cabot Oil & Gas Corp. to deploy a sixth drilling rig in the Marcellus Shale by the fall, helping the company accelerate its plans for pad drilling and move more primary term acreage into production.

A surprise increase in natural gas prices could allow Cabot Oil & Gas Corp. to deploy a sixth drilling rig in the Marcellus Shale by the fall, helping the company accelerate its plans for pad drilling and move more primary term acreage into production.

Outgoing Anadarko Petroleum Corp. Executive Chairman Jim Hackett plans to begin attending Harvard Divinity School in the fall. Hackett, 59, who served as CEO of The Woodlands, TX-based operator until last May, long has been interested in learning to write, speak and teach about faith and leadership, which were key reasons he retired from the company, according to a spokesman. The Harvard University program offers four degree programs: master of theological studies, master of divinity, master of theology and doctor of theology. Hackett’s retirement is to take effect after Anadarko’s annual meeting in May. He previously worked at Devon Energy Corp., as well as NGC Corp., Burlington Resources (acquired by Anadarko in 2006), and Amoco Oil Co. Hackett is a board member and adjunct professor at Rice University.

Outgoing Anadarko Petroleum Corp. Executive Chairman Jim Hackett plans to begin attending Harvard Divinity School in the fall. Hackett, 59, who served as CEO of The Woodlands, TX-based operator until last May, long has been interested in learning to write, speak and teach about faith and leadership, which were key reasons he retired from the company, according to a spokesman. The Harvard University program offers four degree programs: master of theological studies, master of divinity, master of theology and doctor of theology. Hackett’s retirement is to take effect after Anadarko’s annual meeting in May (see Daily GPI, Feb. 20). He previously worked at Devon Energy Corp., as well as NGC Corp., Burlington Resources (acquired by Anadarko in 2006), and Amoco Oil Co. Hackett is a board member and adjunct professor at Rice University.

In the midst of two lawsuits filed by Colorado officials against locally passed oil and natural gas drilling rules, Longmont, CO, gained some support Thursday when the Sierra Club and Earthworks’ attorneys filed a motion to intervene in a lawsuit seeking to invalidate an ordinance passed last year.

After a short-lived lull in late fall, North Dakota’s oil and natural gas production set new records at the end of last year, and the issuance of new drilling permits in January surged, the state’s Department of Mineral Resources (DMR) reported Friday.

ExxonMobil Corp.’s profits climbed 6% year/year in 4Q2012, with annual earnings jumping 9%, despite a steep fall-off in global natural gas and oil production, the supermajor reported on Friday. Until natural gas prices are revived, the producer will direct most of North American unconventional spending on liquids and oil, the investor relations chief said Friday.

ExxonMobil Corp.’s profits climbed 6% year/year in 4Q2012, with annual earnings jumping 9%, despite a steep fall-off in global natural gas and oil production, the supermajor reported on Friday.

ExxonMobil Corp.’s profits climbed 6% year/year in 4Q2012, with annual earnings jumping 9%, despite a steep fall-off in global natural gas and oil production, the supermajor reported on Friday. Chevron Corp., however, reported strong year/year (y/y) earnings and higher production.