SM Energy Co. has closed on the $800 million gross sale of its nonoperated assets in the Eagle Ford Shale, including an ownership interest in associated midstream infrastructure, to a unit of Venado Oil and Gas LLC, which is an affiliate of KKR.
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Once it finishes drilling to hold acreage this year in Ohio and Western Pennsylvania, Rex Energy Corp. said Wednesday it may begin targeting more natural gas liquids (NGL) production in 2018 following a bump in prices during the fourth quarter.
Range Resources Corp. produced a record 1.85 Bcfe/d during the fourth quarter. The period’s volumes were lifted by performance in the Marcellus Shale and the company’s $4.4 billionacquisition of Memorial Resource Development Corp. and assets in the Cotton Valley Sands Terryville Complex in North Louisiana. Range produced 1.43 Bcfe in 4Q2015. The company has set a capital budget of $1.15 billion for 2017 to set it up for 33-35% growth this year and 20% year/year growth in 2018. The company plans to spend two-thirds of the budget in the Marcellus and one-third in North Louisiana, where it will move forward with more welltests this year. Range reported a fourth quarter net loss of $161 million (minus 66 cents/share), compared to a net loss of $322 million (minus $1.93) in the year-ago period. Revenue for the quarter was down 38% from 4Q2015 to $254 million.
WPX Energy Inc., with a plethora of opportunities across the U.S. onshore, is evaluating a midstream infrastructure buildout in one of its key areas, the Permian Basin, to expand crude oil gathering and natural gas processing as opportunities grow, the management team said Thursday.
Larger completion jobs are the order of the day for Williston Basin pure-play operator Oasis Petroleum Inc., which plans to continue testing different completion techniques and use more sand in a bid to grow production over the next two years.
Cabot Oil & Gas Corp. said Friday that improving well results and a better commodity price outlook have prompted it to increase spending this year in both the Marcellus and Eagle Ford shales.
Concho Resources Inc. is increasing its 2017 capital budget on an improved commodity price outlook as it looks to benefit from economies of scale with an aggressive drilling program across its core operating areas of the Permian Basin.
One month after announcing it would expand its position in the Eagle Ford Shale, Sanchez Energy Corp. on Wednesday laid out plans for 2017 to boost its capital expenditures (capex) budget and tackle the acquisition’s complement of drilled but uncompleted (DUC) wells.
About half the potential production growth in the Alberta oilsands will be lost unless thermal extraction plants curb their voracious appetite for natural gas, according to projections by the Canadian Energy Research Institute (CERI).
The Keystone State is currently seen by Williams CEO Alan Armstrong as the most significant regulatory piece yet to fall into place for Transcontinental Gas Pipeline’s (Transco) Atlantic Sunrise project.