Fargo

Rig counts are still declining, but they appear to be stabilizing, according to analysts at Wunderlich Securities Inc. Presumably, exploration and production (E&P) companies are working within their right-sized budgets for 2015, they said in a note on oilfield services companies Thursday.

Rig counts are still declining, but they appear to be stabilizing, according to analysts at Wunderlich Securities Inc. Presumably, exploration and production (E&P) companies are working within their right-sized budgets for 2015, they said in a note on oilfield services companies Thursday.

An analysis conducted by Wells Fargo Securities of the Northeast’s natural gas liquids (NGL) market shows that while the decline in commodity prices will slow production in the long term, liquids volumes are likely to continue increasing incrementally for the next four years or so.

Rosetta Resources Inc. has raised its 2013 guidance for spending and production and increased its borrowing base in light of its pending acquisition of Permian Basin assets announced last month.

Rosetta Resources Inc. said it achieved double-digit growth in production and proved reserves while it “significantly reduced” well costs during 2012. The company said it replaced 472% of production from all sources at a reserve replacement cost of $10.03/boe.

Given the difference in prices for natural gas liquids (NGL) and dry gas, NGL content in the Eagle Ford Shale “makes for a much more pleasant experience” for producers there, Kinder Morgan Energy Partners LP (KMP) Chief Rich Kinder told financial analysts Wednesday. And burgeoning activity in the South Texas play has filled up a KMP midstream project there.