Encana Cuts Back on Low Natural Gas Prices

Encana Corp. is cutting back its capital expenditures (capex) and shifting more resources to oil and liquids, but the gassy Haynesville Shale remains on the development list, a top executive said Thursday.

February 15, 2013

Penn Virginia Turns Focus to Eagle Ford with Appalachian Sale

Penn Virginia Corp. (PVA) on Tuesday agreed to sell “substantially all” of its gassy Appalachian Basin portfolio, except the Marcellus Shale assets, to help fund development in the oily Eagle Ford Shale in South Texas.

July 18, 2012

Offshore Costs Send McMoRan into the Red

McMoRan Exploration Co., which has made its name through discoveries of big, gassy fields in the shallow waters of the Gulf of Mexico (GOM), said Tuesday soaring costs from an unproductive well and impairment expenses ate into its revenues in the second quarter, sending the company to a loss for the sixth straight quarter.

July 20, 2011

Shell Canada Hunts for Partner to Develop Canada’s Deep Basin

Shell Canada Ltd. is looking for a partner to help develop its gassy Chinook leasehold, 102,000 acres in the Nikanassin Formation, a shale play in the Deep Basin of Western Canada.

July 18, 2011

El Paso: Eagle Ford Value Worth Developing Alone

El Paso Corp. has decided to go it alone in developing its profitable Eagle Ford Shale acreage and has scuttled plans to take on a joint venture (JV) partner.

April 15, 2011

Tsunami of Criticism on Offshore Drilling Reversal

The Obama administration last week set adrift offshore drillers’ plans to develop the gassy eastern Gulf of Mexico (GOM) and portions of the Atlantic and Pacific coasts because of the Deepwater Horizon tragedy, setting off a tidal wave of criticism by the energy industry.

December 6, 2010

Obama Administration Reverses Course for Offshore Drilling

The Obama administration has rescinded a decision to allow offshore drilling in the gassy eastern Gulf of Mexico (GOM) and portions of the Atlantic and Pacific coasts because of the Deepwater Horizon tragedy, Interior Secretary Ken Salazar said Wednesday.

December 2, 2010

Newfield Doubles Marcellus Position with EOG Purchase

Newfield Exploration Co. late Monday said it has agreed to buy 50,000 net acres in the Marcellus Shale from EOG Resources Inc. in a transaction valued at $405 million.

November 17, 2010

Chevron Grabs Million-Plus Acres in U.S. Shale Basins

Chevron Corp., which had eschewed domestic shale plays in favor of the deepwater, on Tuesday reversed course, agreeing to pay a total of $4.3 billion to acquire Atlas Energy Inc.’s million-acre-plus U.S. shale leasehold.

November 10, 2010