Oilfield services giant Nabors Industries Ltd. on Tuesday warned that operating results for the second quarter will fall below consensus estimates because of a “pronounced” shortfall in the pressure pumping and top drive completion service lines.
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Goodrich ‘Gaining Valuable Knowledge’ in TMS
Goodrich Petroleum Corp.’s Tuscaloosa Marine Shale (TMS) development is continuing, and the company has high hopes for the play. Meanwhile, it has returned to completing wells in the Haynesville Shale in anticipation of higher natural gas prices.
Consol Posts Loss, But Marcellus Becoming More Important
Despite disappointing earnings at Consol Energy Inc. during the first quarter, the company reported 10.7 Bcfe of production in the Marcellus Shale, a 60% increase that signaled that the play is becoming increasingly important for the coal and natural gas producer.

Canada Launches Asia Trade Mission Hoping to Lure Oil, NGL Buyers
Canada Minister of International Trade Ed Fast said his country is an “energy superpower” that “must” export more oil and natural gas to Asian markets in announcing plans for a trade mission to China and Japan in hopes of increasing exports.
Utica Operators Would Face Many Changes Under Ohio Budget Bill
Operators of horizontal oil and natural gas wells in Ohio face a bevy of regulatory changes — including quarterly production reports, a $25,000 per well impact fee, and new testing and disposal requirements for drilling waste — under Gov. John Kasich’s biennial budget proposal.
Portion of Trunkline Gas Slated for Oil Service
Enbridge Inc. and Energy Transfer are partnering to develop a transport solution for Bakken crude oil using some of the latter’s Trunkline Gas Co. LLC pipeline. Meanwhile, some of Enbridge’s Gulf of Mexico gas pipeline assets have been underperformers in the current era of abundant shale gas and oil.
Portion of Trunkline Gas Slated for Oil Service
Enbridge Inc. and Energy Transfer are partnering to develop a transport solution for Bakken crude oil using some of the latter’s Trunkline Gas Co. LLC pipeline. Meanwhile, some of Enbridge’s Gulf of Mexico gas pipeline assets have been underperformers in the current era of abundant shale gas and oil.

As Binghamton Mulls Appeal, Two More New York Frack Bans Head to Court
Plaintiffs suing two municipalities in New York State for enacting bans on hydraulic fracturing (fracking) will soon have their day in court. Meanwhile, the city of Binghamton, which had its day in court — and lost — is considering an appeal.
Shell Offers Localities Millions for Lost Tax Revenue at Cracker Site
A subsidiary of Royal Dutch Shell plc has offered to pay localities millions for lost tax revenue affected by its proposed “world-scale” ethane cracker.
EIA Data Shows Shale Gas Development Helped Break Records in 2011
The U.S. Energy Information Administration (EIA) said the nation set new records for natural gas gross withdrawals, onshore production and the number of producing wells, figures that were boosted in part by shale gas development. Records were also set in domestic consumption, exports and dry and marketed production.