Higher

Gastar Exploration Ltd. has agreed to sell its East Texas assets to Cubic Energy Inc. for $46 million and will redeploy capital to higher-return projects in the Marcellus Shale and Hunton Limestone. Meanwhile, Cubic views its acquisition as an entry point to the oil-rich Eagle Ford and Woodbine formations.

Chevron Corp. increased its natural gas output in the first two months of 2013 at the same time it was collecting higher gas prices than it did a year ago.

Western Canada’s natural gas production could be 3 Bcf/d higher by 2025 if some of the region’s highly touted unconventional resources match the hype, according to an analysis by ITG Investment Research (IR).

Western Canada’s natural gas production could be 3 Bcf/d higher by 2025 if some of the region’s highly touted unconventional resources match the hype, according to an analysis by ITG Investment Research (IR).

Researchers from Cleveland State University (CSU) said Ohio counties with significant Marcellus and Utica shale development have seen only a modest increase in job creation in 2012, but those same counties also saw a large increase in retail sales.

Matador Resources Co., which is focused on the liquids-rich portion of the Eagle Ford Shale, grew its oil production almost eight-fold last year to just over 1.2 million bbl from 154,000 bbl in 2011 and 33,000 bbl in 2010. The company will stay focused on the Eagle Ford and growing its Permian Basin position as gas prices aren’t high enough to support more Haynesville Shale activity, CEO Joe Foran said Thursday.

A joint venture (JV) of Battelle and Winner Global LLC expects to begin building its first unit in April to respond to a potential water shortage facing oil and natural gas companies that are engaged in hydraulic fracturing (fracking) activities in the Utica and Marcellus shales in Ohio and Pennsylvania.

Projections calling for below-normal water levels in the Pacific Northwest create the prospect for higher natural gas loads this year to make up for the smaller amounts of hydropower expected in the region, according to a Barclays report on the region’s prospects.

Encana Corp. has commissioned the Cavalier liquefied natural gas (LNG) facility in Alberta, considered one of the keys to bring higher volumes of natural gas to heavy-duty trucking and other fleets in Western Canada and elsewhere.