Hedges

Goodrich Petroleum Corp.’s Tuscaloosa Marine Shale (TMS) development is continuing, and the company has high hopes for the play. Meanwhile, it has returned to completing wells in the Haynesville Shale in anticipation of higher natural gas prices.

During the third quarter, Southwestern Energy Co. grew natural gas and oil production by 12% from a year ago. Costs associated with its Fayetteville Shale activities declined while well results there improved. Marcellus Shale production more than doubled from a year ago, and the company continues to find its way in the emerging Brown Dense play.

Houston-based Cabot Oil & Gas Corp. grew its natural gas production by 31% and its liquids production 61% during the third quarter compared to year-ago levels, the company said. It credited much of the growth to the Marcellus Shale, where infrastructure constraints that delayed some wells during the second quarter have been overcome.

Lower results in its wholesale business related to natural gas prices and their effects on storage and transportation hedges, along with weather impacts on its retail business, weighed down second quarter earnings for Atlanta-based AGL Resources Inc., but better days aren’t far away, according to CEO John W. Somerhalder II.

Lower results in its wholesale business related to natural gas prices and their effects on storage and transportation hedges, along with weather impacts on its retail business, weighed down second quarter earnings for Atlanta-based AGL Resources Inc., but better days aren’t far away, according to CEO John W. Somerhalder II.

Stellar production growth from Bill Barrett Corp.’s (BBC) Uinta and Piceance basin properties — plus hedges placed on more than 60% of the gas output — helped the company escape relatively unscathed in 2Q2007 from low Rocky Mountain prices.

Stellar production growth from Bill Barrett Corp.’s (BBC) Uinta and Piceance basin properties — plus hedges placed on more than 60% of the gas output — helped the company escape relatively unscathed in 2Q2007 from low Rocky Mountain prices.

By hedging additional natural gas, oil and natural gas liquids (NGL) production for 2005, Energen Corp. said Wednesday it is raising its earnings guidance by 15 cents to a range of $4.25-$4.45/share in 2005.

Chesapeake Energy Corp. added another 68 Bcfe proved oil and gas reserves and 39 Bcfe of probable and possible reserves in the Midcontinent, Permian Basin and Texas Gulf Coast regions Tuesday through four purchases totaling $100 million.