Based on the most recent state data for this year, New Mexico is on track to bust the 80 million bbl oil production level for the first time since the late 1970s, and natural gas is expected to stay level at about 1.2 Tcf, according New Mexico Oil and Gas Association (NMOGA) officials.
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Initial tests of a process used in the Bakken Shale in North Dakota indicate that up to 80% of the water used in hydraulic fracturing (fracking) may be recycled successfully, according to the state’s chief oil and natural gas official.
A Southwestern Energy Co. official said the company will donate $900,000 to The Nature Conservancy to fully fund the first of a three-phase project to restore waterways in Arkansas’ portion of the Fayetteville Shale.
The initial phase of Enterprise Products Partners LP’ Enterprise Crude Houston (Echo) storage terminal is complete and the facility is receiving deliveries of crude oil. Separately, the partnership said its sixth natural gas liquids (NGL) fractionator at Mont Belvieu, TX, has entered operation.
Operations have begun at MarkWest Energy Partners’ Sherwood I gas processing plant and the initial phase of its high-pressure gas gathering system in Harrison and Doddridge counties, WV, to serve the Marcellus production of Antero Resources.
Liquids-rich gas and high initial production rates from oil wells are driving red hot interest in the Eagle Ford Shale, and this is only bolstered by the region’s established midstream infrastructure and proximity to energy markets, Fitch Ratings said in a new report. More isolated shale basins need costly “mega pipelines,” which are tougher on credit ratings, Fitch said.
Energy & Exploration Partners Inc. on Monday said in a filing with U.S. regulators that it intended to raise up to $275 million through an initial public offering (IPO) of its common stock. In conjunction with the filing, the producer said it had agreed to buy acreage in the Eaglebine formation of Texas from Chesapeake Energy Corp. for $125 million.
Questar Pipeline Co. is holding a binding open season through Sept. 10 for capacity that will be created by new replacement compressor facilities at its existing Simon Station in Sweetwater County, WY.
A group of companies in Ohio that raised nearly $10 million from investors for oil and natural gas development projects has filed for bankruptcy and has agreed to pay the U.S. Securities and Exchange Commission (SEC) a $4.5 million judgment.