EXCO Resources Inc. grew oil and natural gas production by 70% in the fourth quarter compared to the year-ago period, the company said. In 4Q2010 EXCO produced 32.2 Bcfe, or 350 MMcfe/d. Expectations are that 2011 production will average 520-580 MMcfe/d.
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Marcellus Shale Was Star of EQT 2010 Results
EQT Corp. grew its proved natural gas reserves by 28% in 2010, ending the year with 5,220 Bcfe. The growth came due to drilling in the Marcellus Shale, continuing improvement in the estimated ultimate recovery of Marcellus wells, as well as an increase in the projected number of wells to be drilled in the Marcellus over the next five years, EQT said.
EXCO Credits Haynesville for Production Gains
EXCO Resources Inc. grew oil and natural gas production by 70% in the fourth quarter compared to the year-ago period, the company said. In 4Q2010 EXCO produced 32.2 Bcfe, or 350 MMcfe/d. Expectations are that 2011 production will average 520-580 MMcfe/d.
Range Tips Its Hat to Marcellus for Reserves Growth
Last year Range Resources Corp. grew proved reserves 42% to 4.4 Tcfe and replaced 931% of its production for the year, the company said Tuesday.
Few Small Gains Avoid Overall Dips; Northeast Plunges
Nobody is proclaiming winter as “over” yet, but the worst is past as far as many are concerned. The downhill slope for Northeast citygates grew even steeper Friday, and most other points joined them with more mundane losses. Several scattered points ran against the overall market grain by being flat to about a dime higher.
QEP Resources Grew 3Q Production 20%
Shale plays figured prominently in the third quarter performance of Denver-based QEP Resources as the company grew production by about 20% from the year-ago period.
Many Areas Chilly, and Most Prices Up as a Result
Rising prices grew even more prominent in the market Wednesday as enough regions are starting to feel enough early-autumn chill to prompt noticeable heating load. It isn’t much yet, as overnight lows in the 40s and 50s remain the most common temperature depths, but abetted by a prior-day gain of 1.6 cents by November futures it was sufficient to drive most points higher by generally small amounts.
UNG Issues New Shares, But Does the Natural Gas Industry Care?
For the first time since it was forced to suspend issuing new units in early July, the United States Natural Gas fund (UNG) grew the number of limited partnership units it has outstanding Oct. 5 by issuing seven million more to its authorized purchasers (AP). The fund now has 354.4 million units outstanding, but unlike the prodigious growth in units UNG saw in the first half of the year, the fund will likely struggle to grow its share count by a significant amount in the months ahead.
UNG Issues New Shares, But Does the Natural Gas Industry Care?
For the first time since it was forced to suspend issuing new units in early July, the United States Natural Gas fund (UNG) grew the number of limited partnership units it has outstanding on Monday by issuing seven million more to its authorized purchasers (AP). The fund now has 354.4 million units outstanding, but unlike the prodigious growth in units UNG saw in the first half of the year, the fund will likely struggle to grow its share count by a significant amount in the months ahead.
All-Points Losses Grow Larger for Weekend
Already weak cash prices got much weaker Friday, as Thursday’s across-the-board double-digit losses not only continued but grew much bigger to boot. The existing general lack of weather-based demand was exacerbated Friday by the previous day’s 37.5-cent dive by November futures and the decline of industrial load associated with a weekend market.