Large

EOG Resources Inc. last week reported a nearly 53% increase in net income for the first quarter of 2013, gains due in large part to hefty growth in the Eagle Ford Shale.

Despite persistent surpluses, soft prices and an industry-wide switch of drilling targets to liquids, construction is beginning on the first large Alberta natural gas processing plant in recent industry or regulatory memory.

Shares of EOG Resources Inc. rose sharply on Tuesday after the company reported a nearly 53% increase in net income for the first quarter of 2013, gains due in large part to hefty growth in crude oil production from the Eagle Ford Shale.

The Bakken Shale and Three Forks formation in the Williston Basin in Montana, North Dakota and South Dakota contain a combined estimated 7.4 billion bbl of undiscovered, technically recoverable oil, 6.7 Tcf of undiscovered, technically recoverable natural gas and 530 million bbl of undiscovered, technically recoverable natural gas liquids (NGL), according to an assessment released Tuesday by the United States Geological Survey (USGS).

The U.S. onshore rig count currently is “trendless,” but there’s hope for some direction in first quarter reports by three of the top domestic oilfield services providers, Schlumberger Ltd., Baker Hughes Inc. and Halliburton Co., according to Tudor, Pickering, Holt & Co. Inc. (TPH).

While both oil and gas production rates in the Bakken Shale set records in February, there’s much more to come. With a large increase in multi-well pad operations, North Dakota’s chief oil and natural gas regulator expects to see “a big surge in production” in the Bakken Shale starting in June.

Nearly a dozen CEOs of large U.S.-based publicly owned oil and gas companies earned some of the biggest compensation packages in the country last year, according to preliminary data compiled by Equilar, an executive compensation data firm.

Nearly a dozen CEOs of large U.S.-based publicly owned oil and gas companies earned some of the biggest compensation packages in the country last year, according to preliminary data compiled by Equilar, an executive compensation data firm.

Range Resources Corp. achieved a record high production volume of 876 MMcfe/d during the first quarter of 2013, driven in large part by the continuing success of its drilling program in the Marcellus Shale, the company said Thursday.