Jump

Unconventional play-focused Range Resources Corp. charted record quarterly production in 4Q2010 with an average of 541 MMcfe/d, an 18% jump from the year-ago period and an 8% increase from the previous quarter, the company said.

Unconventional play-focused Range Resources Corp. charted record quarterly production in 4Q2010 with an average of 541 MMcfe/d, an 18% jump from the year-ago period and an 8% increase from the previous quarter, the company said.

Thanks to strong growth in all five of its business segments, Kinder Morgan Energy Partners (KMP) reported 4Q2010 net income of $413 million, a 29% jump over the $320 million recorded for 4Q2009.

U.S. exploration and production (E&P) spending is forecast to jump by 8.1% to $93.6 billion in 2011, up from $86.6 billion this year, according to the latest survey by Barclays Capital. Canadian E&P spending is forecast to be 4.8% higher.

Onshore independent Cabot Oil & Gas Corp. last week reported a 41% jump in natural gas-weighted production in 3Q2010 from a year ago and said sequential output was up 18%, exceeding guidance targets.

National Oilwell Varco Inc. (NOV), one of the biggest equipment manufacturers in the oilfield services industry, last week reported a huge jump in its backlog for rig equipment orders in North America.

Onshore independent Cabot Oil & Gas Corp. on Tuesday reported a 41% jump in natural gas-weighted production in 3Q2010 from a year ago and said sequential output was up 18%, exceeding guidance targets.

Average net production in the Appalachian business unit of Atlas Energy Inc. hit a record 63.3 MMcfe/d in 3Q2010, representing a 53%-plus increase in output year/year and a 15.4% jump from the previous three months, the Pittsburgh-based producer said Wednesday.

Southwestern Energy Co., which has built fortunes and natural gas reserves from success in the Fayetteville Shale, saw its production jump by almost a third in 2Q2010 from the same period a year ago.