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Smaller companies involved with the exploration and production (E&P) of oil and natural gas from shale are opting to drill on state lands over federal lands due to longer permitting with the latter, and some federal regulations could ultimately be challenged in court, according to testimony before the Senate Energy and Natural Resources Committee on Tuesday.

Baker Hughes Inc. executives on Friday said the total U.S. rig count should fall on average by 8% this year from 2012, but with better drilling efficiencies, the onshore well count may only decline by 4% to around 35,000.

Chevron Corp. will gain access to some needed infrastructure to develop a portion of its one million-acre leasehold in the Permian Basin in West Texas, and Cimarex Energy Co. will have expanded opportunities in a key Texas county under a joint agreement.

Stability has come to the Texas oil and gas exploration and production sector, which is a good thing for producers and for consumers, said the economist who compiles the state’s monthly Texas Petro Index (TPI).

Stability has come to the Texas oil and gas exploration and production sector, which is a good thing for producers and for consumers, said the economist who compiles the state’s monthly Texas Petro Index (TPI).

The Ohio Department of Natural Resources (ODNR) said 87 wells in the Utica Shale collectively produced 12.84 Bcf of natural gas and more than 635,000 bbl of oil in 2012.

SandRidge Energy Inc.’s revamped board of directors is making good on its promise to review the company’s strategy and costs — including a potential decrease in rig count — and allegations made against embattled CEO Tom Ward by hedge fund TPG-Axon Capital.

SandRidge Energy Inc.’s revamped board of directors is making good on its promise to review the company’s strategy and costs — including a potential decrease in rig count — and allegations made against embattled CEO Tom Ward by hedge fund TPG-Axon Capital.

While the debate rages over whether exporting liquefied U.S. natural gas is a good idea, stocks of natural gas liquids (NGL) are so abundant, export of some is viewed as a necessity. And in the United States, more chemical sector demand can’t come fast enough.