Higher

EQT Corp. released updated information for its investors on Friday, including higher projections for estimated ultimate recovery (EUR) at wells in its core Marcellus Shale acreage, thanks to reduced cluster spacing, longer laterals and a pending deal with Chesapeake Energy Corp.

On higher natural gas prices, Warren Resources Inc. said it would drill 25 new coalbed methane (CBM) wells in the Spyglass Hill Unit in Wyoming’s Washakie Basin, a sub-basin of the Greater Green River Basin, the New York City-based exploration and production company said.

What once was Rockies producers’ hotshot ride to higher netbacks is to be remade as the “expressway to the markets” from the Marcellus and Utica shales. The Rockies Express Pipeline LLC (REX) is embarking on a “great reversal” with the aim of sparing Appalachia producers the pricing pain felt so deeply out west half a decade ago.

Denver-based Enservco Corp., a provider of well-site services, said it will invest $6 million in capital expenditures during 2013, with $4.7 million being allocated to new equipment fabrication. The budget also includes $1.3 million for enhancements to existing equipment. Management estimates the annualized revenue potential from the new equipment at about $10 million. The equipment includes nine frack heating trucks with a total of 12 burner boxes, four hot oilers and two well acidizing trucks. The investments will expand the company’s frack heating capacity by 40% and increase its hot oiling fleet by 15%. Enservco said sales during April reached $3.7 million, up 85% from one year ago. The improvement was fueled in part by cool spring temperatures across the company’s service territories, as well as sustained demand for fluid heating services, particularly in regions where new fracking techniques require higher water temperatures than traditional frack designs.

What once was Rockies producers’ hotshot ride to higher netbacks is to be remade as the “expressway to the markets” from the Marcellus and Utica shales. The Rockies Express Pipeline LLC (REX) is embarking on a “great reversal” with the aim of sparing Appalachia producers the pricing pain felt so deeply out west half a decade ago.

Officials with EV Energy Partners LP (EVEP) say the company is still looking to sell thousands of wet gas acres in the Utica Shale and is looking for one or more joint venture (JV) partners in the play to develop the volatile oil window.

Legislation in Colorado that would have imposed higher penalties for oil and natural gas operators that violated state regulations — supported by the governor and the energy industry — went down in defeat Wednesday, the final day of the session.

Energy industry-supported legislation in Colorado, which would have imposed higher penalties for oil and natural gas operators that violated state regulations, was defeated Wednesday on the final day of the session for the General Assembly.

Shares of W&T Offshore Inc. closed more than 15% higher Wednesday after the company reported first quarter adjusted earnings per share that beat expectations and CEO Tracy W. Krohn said during an earnings conference call that W&T is marketing a “sizeable” package of Gulf of Mexico (GOM) Continental Shelf properties.