NatGas Filling Arkansas Coffers at Record Pace

Arkansas’ gross revenue from natural gas severance taxes so far this year is trending higher than during 2011, which turned out to be a record year for gas severance tax revenue in the Natural State.

June 11, 2013
EIA Sees Gas Production Growth, Price Increases Through 2014

EIA Sees Gas Production Growth, Price Increases Through 2014

A cold beginning to spring that resulted in a tepid start to the natural gas storage refill season has analysts at the Energy Information Administration (EIA) once again revising their natural gas price forecasts upward for the rest of 2013 and 2014. The government agency added that strong onshore production growth will offset Gulf of Mexico declines in both years.

May 9, 2013

Phillips 66 Moves to Leverage North American Shale Oil

Midstream and downstream energy giant Phillips 66 is positioning itself to take full advantage of the ongoing North American shale oil boom by inking a number of deals to increase supplies of cost-advantaged North American crude oil to its U.S. refineries.

March 21, 2013

NatGas Prices to Increase Slowly Through 2014, EIA Says

Natural gas spot prices, which averaged $2.75/MMBtu at the Henry Hub last year and $3.33 last month, are expected to climb to an average of $3.41 this year and $3.63 in 2014, according to the Energy Information Administration (EIA).

March 13, 2013

A ‘Miss’ in Lime Sale for Chesapeake? Operators Remain Optimistic

The deal that Chesapeake Energy Corp. made on Monday to sell half its leasehold in the Mississippian Lime was calculated at around $2,500/acre gross, or less than $1,000/acre net, not necessarily the price that the market had been expecting. The lower expected price may be attributed to several things, said analysts: foreign firms getting more savvy about undeveloped leaseholds, the value of the formation, or Chesapeake’s hurry to fix its balance sheet.

February 27, 2013

EIA: Marcellus Production to Boost Lower 48 Total This Year

The Energy Information Administration (EIA) expects total domestic marketed natural gas production to increase to 69.8 Bcf/d in 2013 from 69.2 Bcf/d in 2012, and to drop slightly to 69.5 Bcf/d in 2014. Growth in Lower 48 onshore production, driven largely by the Marcellus Shale and other shale plays, will continue through 2014, although it will be offset by Gulf of Mexico declines, EIA said.

January 9, 2013

QEP Seeking Cash Infusion With New Midstream MLP

QEP Resources Inc. plans to form a master limited partnership (MLP) to support the growth of its midstream business and expects to raise $300-400 million in gross proceeds by selling a minority interest in the MLP, the Denver-based exploration and production (E&P) company said.

January 8, 2013

Argentina’s YPF, Bridas Sign $1.5B Shale Agreement

Yacimientos Petroliferos Fiscales (YPF) SA, Argentina’s newly state-owned energy company, announced Friday that it had signed a two-year, $1.5 billion agreement with Bridas Corp. to explore and drill for oil in two of the country’s shale plays.

January 2, 2013

Compressor Fire Cutting Bill Barrett 4Q Production by 1.2 Bcf

Bill Barrett Corp. continues to produce about 33 MMcf/d net (49 MMcf/d gross) of natural gas in the area of its West Tavaputs field where a fire shut down one of its three compressors and sent two employees to the hospital, the company said Thursday.

November 30, 2012
Marathon Letting Go of Non-Core Eagle Ford Acreage

Marathon Letting Go of Non-Core Eagle Ford Acreage

Marathon Oil Corp. is selling all of its interest in 98,409 gross acres (96,738 net) in nine tracts in Karnes, Northern Bee and Wilson counties, TX, in the Eagle Ford Shale. However, the play remains a core focus of the company.

October 17, 2012