Ngls

Shares of EV Energy Partners LP (EVEP) took a hit Friday after the company announced net losses for the fourth quarter and full-year 2012, and said it could take anywhere from one month to the rest of the year to sell most of its acreage in the eastern Ohio portion of the Utica Shale.

Quicksilver Resources Inc. found a silver lining in the recent decision by Canada’s National Energy Board (NEB) to reject TransCanada Corp.’s Komie North Extension pipeline project in the Horn River Basin.

Utica Shale operators are discovering that with some patience and seasoning, estimated ultimate recoveries (EUR) for liquids reserves appear to move higher.

Natural gas shale plays have become “relatively well delineated,” which is sending production costs south in many onshore basins, a trend that should continue as adequate infrastructure opens the door to more opportunities, according to Credit Suisse’s energy team.

Oneok Partners LP is holding an open season through Dec. 17 for its 600-mile Bakken Natural Gas Liquids (NGL) Pipeline, which would transport unfractionated NGLs from the Bakken Shale in the Williston Basin to an interconnection with the partnership’s 50%-owned Overland Pass Pipeline in northern Colorado. The Bakken NGL Pipeline is under construction and is expected to be in service during the first quarter. In July Oneok said it would expand the project with additional pump stations in a project to be completed during the third quarter of 2014. For open season information, contact Lisa Nishimuta at (918) 588-7730, lisa.nishimuta@oneok.com.

Houston-based Carrizo Oil & Gas Inc. posted records during the first quarter for natural gas, natural gas liquids (NGL) and oil production as well as chart-topping revenue, largely thanks to the Eagle Ford Shale of South Texas and the Barnett Shale in North Texas. Meanwhile, Marcellus Shale activities are ramping up.

With an emphasis on oil over natural gas, Los Angeles-based Occidental Petroleum Corp. (Oxy) continued to shatter company production records in barrels of oil equivalent (boe) globally and domestically, Oxy senior executives said Thursday. At 755,000 boe Oxy’s daily oil/gas production was the highest in its history; and its U.S. totals of 455,000 boe set a record for the sixth straight quarter.

Low natural gas prices have stifled activity in the dry window of the Eagle Ford Shale in South Texas, but the play’s natural gas liquids (NGL) and crude windows “are hotbeds of activity,” according to veteran industry observer Rusty Braziel, now principal of RBN Energy.

The early days of the Utica Shale are proving to be far more competitive than the early days of its cousin, the Marcellus Shale, the head of a major midstream player told NGI’s Shale Daily.