Locations

Plunging Northeast Prices Drag Overall Market Lower; Futures Gain

The overall cash market Wednesday on average slipped just over a penny, where large losses at Northeast locations were not quite offset by gains in the Midwest, mostly steady eastern quotes, and steady to slightly lower Texas next-day prices. At the close of futures trading November had managed a 3.3 cent advance to $3.470 and December had added 5.3 cents to $3.820. November crude oil gained 3 cents to $92.12/bbl.

October 18, 2012

U.S. Has 1.1 Qcfe of Resource, Says Researcher

The U.S. Lower 48 onshore has 1.1 quadrillion cubic feet equivalent (Qcfe) of recoverable resources across 450,000 drilling locations, according to a new analysis by Calgary-based ITG Investment Research, which, not surprisingly, cited the big-name shales for being reserves and production stars.

October 15, 2012

Gulf, Northeast Pace Hefty Gains; Futures Inch Higher

Cash gas prices for Thursday delivery rose 6 cents on average overall. Particular strength was noted at Gulf locations, but points in the Northeast were firm as well. California points in the north saw gains, while operational issues prompted an oversupply of gas and prices fell on SoCal Gas Pipeline. At the close of futures trading November had risen 0.8 cent to $3.475 and December gained 1.5 cents to $3.783. November crude oil tumbled $1.14 to $91.25/bbl.

October 11, 2012

U.S. Has 1.1 Quadrillion Cubic Feet of Resource, Says Researcher

The U.S. Lower 48 onshore has 1.1 quadrillion cubic feet equivalent (Qcfe) of recoverable resources across 450,000 drilling locations, according to a new analysis by Calgary-based ITG Investment Research, which, not surprisingly, cited the big-name shales for being reserves and production stars.

October 9, 2012

Cash Adds A Penny, But Futures Make New Highs

Physical natural gas prices overall added another penny on average with strength noted in the Midwest and some eastern locations. California points eased as temperatures were expected to moderate through the week, giving the area a break from a fall heat wave.

October 3, 2012

Drilling Stepped Up in Mondak Portion of Bakken Shale

Test well results and micro-seismic analysis have identified more than 200 drilling locations in the Mondak in the Upper Bakken Shale, according to initial drilling results released Thursday by Calgary, Alberta-based PetroShale.

September 28, 2012

Small Wyoming E&P Buys into Bakken, Three Forks

Riverton, WY-based U.S. Energy Corp. (USEC) said Monday it has acquired producing assets in the Bakken and Three Forks shale plays in North Dakota for $2.5 million, giving the small exploration and production (E&P) company minority interests in up to 23 drilling units with an estimated 307,000 boe in proved oil reserves.

September 26, 2012

Ohio Energy Regime Overhaul Begins

When it goes into effect next month, Ohio’s SB 315 will bring regulatory change to the Ohio Department of Natural Resources (DNR) and four other state agencies, but that’s just the beginning of the changes the oil and gas industry can expect from the legislation, according to Craig Kasper, CEO of project development and engineering company Hull & Associates Inc.

August 30, 2012

ExxonMobil’s Bakken Output 60% Higher in One Year

ExxonMobil Corp.’s production in the Bakken Shale has reached about 32,000 boe/d, which is 60% higher than a year ago and double the amount the company was producing just three years ago, a top executive said Thursday. Two more oil-directed rigs have been added to the play in just the past three months.

July 30, 2012

Tuscaloosa Trending — Check Back in Six Months

Whether the Tuscaloosa Marine Shale turns out to be the kind of prospect that ranks among energy industry biggies is still a waiting game, one of the trend’s followers said Tuesday.

June 28, 2012