Continued low natural gas prices have further cut into Wyoming’s revenues that will require budget cuts of up to 8% in 2013, Wyoming Gov. Matt Mead said Wednesday.
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Australia’s Amadeus Acquiring Eagle Ford-Focused Lonestar Resources
Australia’s Amadeus Energy Ltd. plans to acquire Fort Worth, TX-based Lonestar Resources Inc. — a player in the Eagle Ford, Bakken and Barnett shales — via the purchase of Lonestar’s holding company, Ecofin Energy Resources Plc of the United Kingdom.
Halliburton Won’t ‘Chase’ North American Business, Says CEO
Halliburton Co. reported Wednesday that its profits fell in 3Q2012 from a year earlier in part because of inflated raw materials, but the company also took a sharp hit from the decline in U.S. onshore drilling, which likely won’t accelerate until next year, company executives said Wednesday.
Utica Researcher: Accurate Decline Curve Data Needed
A professor at Ohio’s Cleveland State University (CSU) said permitting activity in the Utica Shale this year is in line with projections but further success in the play depends on obtaining accurate decline curve data for production over a longer period of time.
Utica Researcher: Decline Curve Data Needed for Accurate Output Forecast
A professor at Ohio’s Cleveland State University (CSU) said permitting activity in the Utica Shale this year is in line with projections but further success in the play depends on obtaining accurate decline curve data for production over a longer period of time.
Colorado Town Ends Drilling Moratorium, Notches Stringent Agreements
Erie, CO, officials voted 6-1 Monday night to end a six-month moratorium on new oil and natural gas drilling after securing agreements with producers that place stricter regulations on their operations.
North Dakota Delays Flaring-Fertilizer Project Decision
The North Dakota Industrial Commission on Monday delayed for further study a decision on a $1.1 million state grant for a pilot project to turn flared natural gas in the Bakken Shale into fertilizer for the state’s farming industry. The three-member commission of elected officials, including the governor, wants more study of the project’s feasibility.
House Bill Would Further Delay BLM Fracking Rule
Rep. Bill Flores (R-TX) has introduced a bill that would further delay action on the Interior Department’s Bureau of Land Management (BLM) proposed rule governing hydraulic fracturing (fracking) activities on public and Indian lands until Interior Secretary Ken Salazar submits a report examining the effects of the rule.
Quicksilver Battening Down After 2Q Loss
Debt- and dry gas-laden Quicksilver Resources Inc. posted a hefty loss for the second quarter, largely due to a nearly $1B asset impairment reflecting low commodity prices. On Tuesday management talked up plans to right the balance sheet and weather the low-price period with spending cuts and other measures.
Encana Selling Chunks of Liquids Leaseholds to Aid Development
Encana Corp. plans to continue to keep its eye on the “highest-return plays” in North America, which for the near term means more liquids and oil development and no natural gas drilling, CEO Randy Eresman said Wednesday.