After a record-setting 2011, North Dakota continues to set all-time highs in oil and natural gas production, producing wells and rig counts, according to the latest statistics from the state’s Department of Mineral Resources (DMR).
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North American Exploration Pushes M&A to Record Highs
Increased exploration in North America last year pushed oil and natural gas sector transactions to record highs, according to Ernst & Young LLP. The consultancy’s “Global Oil and Gas Transactions Review 2011,” a compilation of data on oil and gas merger and acquisition (M&A) activity in 2011, was unveiled last week.
North American Exploration Pushes M&A to Record Highs
Increased exploration in North America last year pushed oil and natural gas sector transactions to record highs, according to Ernst & Young LLP.
Marketers 2Q2011: Big Names Report Declining Sales
Three of the top four natural gas marketers reported volume declines compared with the year-ago period, and 24 leading companies had total sales transactions of 123.44 Bcf/d in 2Q2011, a 3.50 Bcf/d (3%) decrease from the 126.94 Bcf/d they transacted in 2Q2010, according to NGI’s 2Q2011 Top North American Gas Marketers Ranking.
Marketers 2Q2011: Big Names Report Declining Sales
Three of the top four natural gas marketers reported volume declines compared with the year-ago period, and 24 leading companies had total sales transactions of 123.44 Bcf/d in 2Q2011, a 3.50 Bcf/d (3%) decrease from the 126.94 Bcf/d they transacted in 2Q2010, according to NGI’s 2Q2011 Top North American Gas Marketers Ranking.
Transportation Notes
Due to Florida forecasts of highs in the mid 90s and low linepack, Florida Gas Transmission issued an Overage Alert Day notice for market-area customers Friday with a 20% tolerance for negative daily imbalances.
FERC: Shale Gas Increased Influence on Market in 2010
Natural gas supply and demand set new records in 2010, while regional changes in production — including that from the nation’s fast-growing shale plays — altered the industry landscape, according to a state of the markets report issued Thursday by FERC’s Office of Enforcement.
Traders Skeptical, But April Carves Out Gains
April natural gas futures backed off earlier highs but still managed to post gains in Monday’s trading. Short-term traders and those with a longer perspective are divided on the market’s next move with short-term traders favoring a continued decline largely on a fundamental picture that hasn’t changed and long-term technical analysts see the market finding a respite from an oversold condition.
Baker Hughes: ‘Ongoing Strength’ in Unconventional Plays Lifts Profits
Profits and revenue for Baker Hughes Inc. hit record highs in the final three months of 2010, for which the company credited ongoing strength in onshore North American drilling. However, Baker Hughes is “concerned” about the pace of offshore permit approvals in the Gulf of Mexico (GOM), the CEO said.
Beaucoup Reserves Additions in 2010 Expected for Shale Gas Producers
“Shaley” natural gas producers and Bakken oil explorers should be reporting “lots” of reserves additions as they roll out their year-end 2010 reports, the research team at Tudor, Pickering, Holt & Co. (TPH) said Friday.