ZaZa Energy Corp. more than doubled its proved Eagle Ford Shale oil reserves between the end of last year and Sept. 1; however, proved Eagle Ford gas reserves declined by more than half with the dissolution of a joint venture (JV) the company had with Hess Corp.
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Pittsburgh Drilling Proposals Advance to Planning Commission
The Pittsburgh City Council has referred a series of proposed amendments, which would create “mineral extraction districts” and possibly open the city to at least limited Marcellus Shale drilling, to the city’s planning commission.
Gallup: Oil and Gas Industry Still Not Feeling the Love
Computers are prone to viruses and sometimes crash, but Americans mostly like the computer industry. However, the yo-yo nature of gasoline prices is something they can’t abide, according to a recent Gallup poll that found the oil and gas industry and the federal government have the “least positive images” among Americans, just like they did a year ago.
Executives Expect Oilfield Services M&A to Increase
Mergers and acquisitions (M&A) within the oilfield services sector should pick up steam over the next one to two years, with most of the activity centered in North America, according to a survey by Ernst & Young.
Carlyle, Sunoco JV Eyes Growth Fueled by Marcellus, Bakken
The Carlyle Group LP and Sunoco Inc. on Monday stepped up with an ambitious plan to keep the doors open at the oldest continuously operating refinery on the East Coast. The new venture is eyeing growth from the gassy Marcellus Shale that surrounds the refinery, while the oily Bakken Shale would provide up to 140,000 b/d of low-cost fuel supplies.
Dozens of Piceance Wells Threatened by Colorado Wildfire
As the Pine Ridge fire in Colorado expanded Friday, up to 50 natural gas wells were shut in by three operators along the Western Slope in the Piceance Basin. In one case, wells were shut before operators were asked to do so by the federal Bureau of Land Management (BLM), according to the Colorado Oil and Gas Association (COGA).
Cash Market Flat Except for Northeast Plunges
Physical gas for weekend and Monday delivery was mostly flat in Friday’s trading with modest gains posted in the Rockies and Midcontinent. However, the real story could be found in the northeast, where large drops were recoreded for a second straight trading day.
Low Natgas Prices Impacting Canadian Energy Patch Workforce
Canada’s oil and gas industry could lose about 3% of its workforce by 2015 due to “persistently low natural gas prices,” according to a new report. However, the jobs outlook varies greatly across industry sectors.
Largest Investor Urges Chesapeake to Consider Sale
Chesapeake Energy Corp.’s largest investor on Monday delivered a stinging letter criticizing the board of directors and management team, and urged an outright sale of the company.
FERC Approval Lifts Cheniere’s Boat
Within the last 52 weeks, shares of Cheniere Energy Inc. have been a basement dweller, trading as low as $3.17. However, Monday’s approval by FERC of the company’s plans to develop liquefied natural gas (LNG) export capability on the Gulf Coast sparked a rally Tuesday. The stock had been climbing of late as it has appeared increasingly likely that LNG export will happen.