Independents

The Permian Basin, one of the greatest comeback stories in the long history of the oil and gas industry, was given a new and better life with unconventional techniques, and opportunities still exist, but they won’t come without a few challenges, according to research by the University of Houston (UH).

Mexico’s first independent oil and gas company since energy reforms were instituted four years ago began trading Friday following a successful public offering for $650 million.

The 50 largest U.S. producers last year saw their revenues and capital spending plunge, as they attempted to cope in the first full year since 2004 that West Texas Intermediate oil spot prices averaged under $60/bbl, Ernst & Young LLP said.

A trade group representing Pennsylvania’s legacy oil and natural gas producers has filed a lawsuit against the state Department of Environmental Protection (DEP) to stop a package of new regulations that it claims would put many of its members out of business.

U.S. natural gas and oil reserves each increased by 9% in 2013 at a lower cost than in 2012, primarily because of gains by the largest independents, Ernst & Young LLP (EY) revealed in its latest annual review.

Independent oil and natural gas producers could see a drop of 25% in their capital expenditures (capex) under Senate Finance Committee Chairman Max Baucus’ (D-MT) draft tax reform plan, according to a spokesman for the Independent Petroleum Association of America (IPAA).

The Center for Sustainable Shale Development (CSSD) wants to begin certifying producers in the Appalachian Basin that adhere to its standards by the end of the year.

Big Oil’s attempt to take over the North American onshore from U.S. independents so far hasn’t paid off as some would have imagined just a few years ago, with the majors still struggling to capture the kind of profits and production results they may have been anticipating.

Support for hydraulic fracturing (fracking) among New Yorkers remained unchanged overall, as a sharp increase in backing among suburbanites canceled out flagging support from Upstate voters, according to a Siena College Research Institute poll released Wednesday.