Million

Appalachian pure-play Antero Resources Corp. focused heavily on natural gas liquids (NGL) production during the second quarter as part of its strategy to position itself for a rebound in prices.

EV Energy Partners LP (EVEP) turned in another quarter of red ink and management said Tuesday that distributions won’t be reinstated this year. However, progress on debt reduction was made.

Cimarex Energy Co. raised its production and capital expenditures (capex) guidance figures for 2016 and said it will continue running a five-rig drilling program for the rest of the year in order to increase drilling in the Meramec formation and accelerate completions in the Midcontinent and the Permian Basin.

Spectra Energy Corp. said this week that it expects to spend up to $100 million assessing and repairing the damage caused by an explosion and fire that happened in April on a portion of Texas Eastern Transmission’s (Tetco) Penn-Jersey system (see Shale Daily,April 29).

Rex Energy Corp. continued to make progress on a series of balance sheet initiatives to shore up its liquidity during the second quarter, while it steadily drilled acreage in Pennsylvania to hold it by production and made in-roads in the Utica Shale.

Statoil ASA has reached a deal to sell some of its non-operated assets in West Virginia to Antero Resources Corp. for $96 million.

A trio of contract drillers that work in North America’s onshore — Helmerich & Payne Inc. (H&P), Patterson-UTI Energy Inc. and Pioneer Energy Services — said Thursday the oil and gas environment remains challenging, but each reported encouraging signs that an upturn may be in the works.

Consol Energy Inc. said Tuesday it has decided to revive its drilling program next month, when it will add back two horizontal rigs in the Marcellus and Utica shales in a move it said is underscored by improving market fundamentals and more than a year of intense cost-cutting.

Resolute Energy Corp. is peeling off more of its Permian Basin midstream portfolio in Texas to devote more money to ever-better oil and gas wells within the Wolfcamp formation, the Denver-based producer said Friday.