Denver-based PDC Energy Inc. has sold its Piceance and other mostly natural gas Colorado holdings to concentrate its drilling efforts in the Utica Shale in Ohio, along with Weld County’s Wattenberg field in Colorado.
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Houston-based Cabot Oil & Gas Corp. grew its natural gas production by 31% and its liquids production 61% during the third quarter compared to year-ago levels, the company said. It credited much of the growth to the Marcellus Shale, where infrastructure constraints that delayed some wells during the second quarter have been overcome.
A consortium of private equity investors is readying a $7.15 billion leveraged buyout of El Paso Corp.’s exploration and production (E&P) business, which includes an array of liquids-rich U.S. unconventional property that extends across Texas, Louisiana, the Raton Basin and the Rocky Mountains.
Chesapeake Energy Corp. on Monday unveiled a strategy to help fund its spending obligations this year, which may include the outright sale of its Permian Basin portfolio, as well as other asset sales and joint venture (JV) partnerships, that together could reap $10-12 billion.
Two transactions completed late in 2011 have helped Chesapeake Energy Corp. achieve “substantial progress” toward a goal of reducing debt by 25% by the end of this year, the company said Tuesday.
XTO Energy Inc. said Monday it expects to grow its natural gas-heavy production base about 12% more than last year, with more than half of its development budget directed to East Texas activities. Meanwhile, Magnum Hunter Resources Inc. raised its week-old fourth quarter forecast, calling the previous estimate too conservative.