Funded

George P. Mitchell: Founding Father of the Shale Revolution

George P. Mitchell: Founding Father of the Shale Revolution

The oil and gas industry is lionizing George Phydias Mitchell, 94, who died at his home on Friday in Galveston, TX. Mitchell is credited with pioneering unconventional drilling techniques that have opened up North America’s natural gas and oil potential.

July 29, 2013
Asian Investors Venturing into Canada’s Newly Popular Duvernay Shale

Asian Investors Venturing into Canada’s Newly Popular Duvernay Shale

Canadian Pan Ocean Ltd., funded by Asian investors, has put together an operating company in the liquids-rich Duvernay Shale in southwestern Alberta, executing a binding term sheet for a farm-out agreement with Canadian producer Mako Hydrocarbons Ltd. for the producer’s 50% working interest in its Alberta Joint Venture (AJV).

March 11, 2013

Consol Focusing on Marcellus, Utica Shale Gas in 2013

Consol Energy Inc. announced Monday that it plans to spend most its capital expenditure (capex) budget in 2013 on natural gas production in the Marcellus and Utica shales, and will sell millions in other assets.

January 15, 2013

North Dakota to Study Power Needs for Shale Gas Production

A study of the electricity needs in the oil/natural gas patch was funded Monday by the North Dakota Industrial Commission for upcoming work to be overseen by the state’s power transmission authority. Separately, the commission also authorized paying for another study of future natural gas growth in the state.

March 22, 2012

Goodrich Plans ‘Minimum Necessary’ Gas Drilling

During 2012 Goodrich Petroleum will continue to emphasize oil-directed drilling over natural gas with the majority of its focus, and spending, on the Eagle Ford Shale of South Texas, the company said Wednesday.

January 5, 2012

Marcellus Shale Gas Emissions Beat Coal, Study Says

Life cycle greenhouse gas (GHG) emissions from Marcellus Shale natural gas are 20-50% lower than coal for electric generation, according to a new Carnegie Mellon University (CMU) study.

August 19, 2011

Ultra Adds Niobrara; Sees Record Output in Pinedale, Marcellus

Driven by record natural gas output from core holdings in the Pinedale Anticline of Wyoming and the Marcellus Shale in Pennsylvania, Ultra Petroleum Corp. on Wednesday reported quarterly profit numbers that beat Wall Street’s expectations. The Houston producer also disclosed that it established a third core area, almost 100,000 net acres in the liquids-prone Niobrara formation of the Denver-Julesburg (DJ) Basin of Colorado.

August 11, 2011

ConocoPhillips Adds Prospective Acreage to North American Portfolio

ConocoPhillips is securing thousands of acres in emerging resource plays across Canada and the United States as it readies to become a stand-alone explorer, a company executive said Wednesday.

July 28, 2011

W&T 2011 Spending Emphasizes Oil Projects

W&T Offshore Inc. said its 2011 capital budget is $310 million and will be funded entirely from cash flow.

January 6, 2011

Industry Brief

Penn Virginia Corp. has paid $31.1 million to acquire nearly 6,800 net acres in the Eagle Ford Shale, primarily in Gonzales County, TX. The acquisition was funded with cash on hand, the company said. The new acreage is estimated to contain more than 40 horizontal well locations, with Penn Virginia’s working interest averaging about 73%.

August 13, 2010
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