natural gas data

Post-production cost deductions taken from royalty checks by Chesapeake Energy Corp. again are being questioned by Pennsylvania officials, with the governor calling for an inquiry.

The Eagle Ford Shale now rivals the nearby Haynesville Shale in natural gas output and could be decisive in shaping U.S. gas production trends into the future, according to Barclays Capital.

The U.S. oil and gas rig forecast should be 2.5% higher than it was in 2013, with the horizontal drillers up by 11%, analysts with Raymond James & Associates Inc. said Tuesday.

Anadarko Petroleum Corp.agreed to sell its Chinese subsidiary to a unit of Brightoil Petroleum (Holdings) Ltd. for $1.075 billion worth of stock. The subsidiary being sold owns The Woodlands, TX-based producer’s interests in the Bohai Bay field. In 2013 Anadarko’s net sales volumes from Bohai Bay averaged 11,000 b/d of oil. CEO Al Walker said the sale demonstrated a commitment to “active portfolio management.” The sale should close by the end of 2014.

Stone Energy Corp. said Tuesday it hit net natural gas pay in two deepwater Gulf of Mexico wells that suggest commercial discoveries.

Taking his State of the Union (SOTU) message from last month on the road, President Obama visited a Safeway distribution center in Upper Marlboro, MD, where he called on the Environmental Protection Agency and the U.S. Department of Transportation to develop fuel-efficiency and greenhouse gas standards for trucks and other heavier vehicles by March 2016.

Spot gas for Wednesday delivery fell in Tuesday’s trading as multi-dollar losses at eastern and Northeast points trumped market strength in the Midwest and Gulf. The Midcontinent was mixed and California prices weakened.

A fire that burned for days at two Chevron Appalachia LLC shale gas wells in southwest Pennsylvania stopped on Saturday and specialists from Houston-based Wild Well Control are trying to determine if they can be salvaged for future production operations, a state official said.

Apache Corp. President Roger Plank, who joined the company in 1981, is retiring. Plank has served in numerous executive roles at Apache, including CFO. He became president in early 2009 and was named chief corporate officer in 2011. He is the son of Raymond Plank, one of Apache’s founders. Alfonso Leon, senior vice president (SVP) and chief of staff, has been appointed executive vice president and CFO. Leon is to lead financial, commercial, stakeholder relations, planning and strategy functions. Tom Chambers was tapped to serve as SVP, finance.