Holds

EQT Corp. on Friday said it expects to produce more natural gas in its core Marcellus Shale acreage on reduced cluster spacing, longer laterals and because of a land acquisition from Chesapeake Energy Corp. 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.

Energy infrastructure giant Williams, whose pipeline partnership holds a bundle of huge natural gas and liquids operations, expects to see “full ethane rejection” through 2015, which will lead to “near-term headwinds” for the unit, CEO Alan Armstrong said last week.

Energy infrastructure giant Williams, whose pipeline partnership holds a bundle of huge natural gas and liquids operations in the Northeast, expects to see “full ethane rejection” through 2015, which will lead to “near-term headwinds” for the unit, CEO Alan Armstrong said Wednesday.

Wyoming has hired a new oil/natural gas supervisor, Grant Black, a 30-year geology veteran who will assume his new position May 1. The state has been without a permanent supervisor at the Wyoming Oil and Gas Conservation Commission (OGCC) since long-time incumbent Tom Doll resigned last year after a run-in with Gov. Matt Mead (see Shale Daily, June 18, 2012). Department veteran Bob King has filled in on an interim basis. Once the oil/gas supervisor in Arkansas (1999-2004), Black holds geology degrees from the University of Oklahoma and Oklahoma State University.

EOG Resources Inc. said it now holds 2.2 billion boe of potential recoverable crude oil reserves in the Eagle Ford Shale — reportedly the largest share net to one company in the last 40 years — and plans to continue focusing on oil production in 2013, after posting large increases in oil, condensate and natural gas liquids (NGL) production the year before.

Pioneer Natural Resources Co. has signed an agreement with Sinochem Petroleum USA LLC, a U.S. subsidiary of China’s Sinochem Group, to sell 40% of its interest in 207,000 net acres leased by the Pioneer in the horizontal Wolfcamp Shale in the southern portion of the Spraberry Trend Area Field for $1.7 billion.

Gasco Energy Inc. will submit a plan of compliance next month to NYSE MKT to address how it intends to right its financial ship and avoid being delisted by the exchange, the Denver-based company said Wednesday.

Triangle Petroleum Corp. recorded the first profitable quarter in its history, is on track to meet its oil production goal for the year and is excited about its new joint venture (JV) in the Bakken Shale, even as it keeps at the ready plans to drop a drilling rig should policymakers in Washington, DC, fail to reach a compromise over the fiscal cliff.

Houston-based land driller Sidewinder Drilling Inc. management on Monday said it now holds about 92% of the outstanding shares of Union Drilling Inc., which allows the unconventional oilfield service operators to move forward with their merger, first announced in September.