Independent

WPX: Piceance Results May Double 3P Reserves

WPX: Piceance Results May Double 3P Reserves

WPX Energy Inc. said its first horizontal test well targeting the Niobrara formation in western Colorado’s Piceance Basin has produced encouraging results, with the potential of more than doubling its proved, probable and possible (3P) reserves.

January 25, 2013

Denbury Buys ConocoPhillips’ Cedar Creek Anticline Portfolio

ConocoPhillips is selling a package of properties in the Cedar Creek Anticline (CCA) of North Dakota and Montana to Denbury Resources Inc. for $1.05 billion cash.

January 16, 2013

Court Upsets Western Colorado Gas Settlement

A federal district court judge in Colorado has rejected a proposed settlement between the U.S. Department of Justice (DOJ) and two independent producers over alleged rigged bidding in a government lease sale, saying the punishment did not fit the crime.

December 21, 2012

NY-ISO Five-Year Strategy Relies on Gas-Electric Coordination

The New York Independent System Operator (NY-ISO) expects to operate “in an environment of expanded dependency on natural gas-fired generation, renewable generation and retirements of less efficient generation” over the next five years, the electricity grid operator said in its 2013-2017 Strategic Plan.

December 20, 2012

Energen Has New Focus: Oil, Gas Liquids, CEO Says

Birmingham, AL-based Energen Corp., an independent exploration and production (E&P) company with a small natural gas-only utility in Alabama, is shifting its emphasis away from gas to oil and natural gas liquids (NGL) production next year, CEO James McManus told a financial analysts’ meeting.

December 18, 2012

Chesapeake Planning Water Treatment Facility in Ohio Utica

Tervita Corp., a Calgary-based environmental and energy services company, has been selected to build and operate a facility in Carroll County, OH, to treat Chesapeake Energy Corp.’s produced and tophole drilling water from its Utica Shale operations, the companies said.

December 11, 2012

Private Equity Taking Big Interest in E&P, Midstream

Independent exploration and production (E&P) operators in the United States have faced a funding dilemma since they began rushing into unconventionals. With more resources than capital, many have taken loans that have increased their debt, or they’ve sought out joint venture (JV) partners to pay for drilling expenses.

November 19, 2012

Private Equity Taking New Interest in E&P, Midstream

Independent exploration and production (E&P) operators in the United States have faced a funding dilemma since they began rushing into unconventionals. With more resources than capital, many have taken loans that have increased their debt, or they’ve sought out joint venture (JV) partners to pay for drilling expenses.

November 15, 2012

Battelle Collaborates with Ohio on Drilling Water Issues

Independent researcher Battelle is deploying scientists and engineers to Ohio to collaborate with state regulators about solving water issues at Marcellus and Utica shale drilling sites with new technology.

November 14, 2012

Industry Briefs

The Independent Petroleum Association of America (IPAA) has requested a public forum with the U.S. Fish and Wildlife Service (FWS) on the agency’s plans regarding the Endangered Species Act (ESA) because members are concerned that new listings could harm domestic oil and natural gas exploration and production. In a letter to FWS Director Daniel Ashe, IPAA CEO Barry Russell said members understand that the agency is obligated to meet certain deadlines under a court-approved settlement with the Center for Biological Diversity and Wild Earth Guardians. However, there has been “little transparency afforded to the public on which species are coming up for review,” Russell said. “The pure depth and breadth of these settlement agreements could harm our membership and create uncertainty in the development of domestic oil and natural gas.” By 2016 FWS is required to complete a review of 250 candidate species for final listing on the ESA and is required to complete other actions on listings and critical habitat petitions of more than 1,000 species.

November 6, 2012