Notably

The Environmental Protection Agency (EPA) was put in the hot seat Friday as House lawmakers took the agency to task for its flawed reports on hydraulic fracturing (fracking), most notably the December 2011 report that found groundwater in Pavillion, WY, to be contaminated. That report was later retracted. And before directing any more funds to the EPA for reseach into fracking, the lawmakers demanded that the agency provide Congress with more information on their reseach activities so far.

Halliburton Co., the No. 2 global oilfield services provider, is beginning to see some blue skies in North America this year and going into 2014, CEO Dave Lesar said Monday.

TransCanada Corp. Tuesday gave a name and targets to its promised plan to convert part of its aging, half-empty natural gas Mainline to oil service.

Chevron Corp. expects to report “notably higher” results for 4Q2012 than profits in the previous three months, management said in an interim update.

A Washington, DC-based watchdog group last week called on the Department of Justice (DOJ) to investigate whether large natural gas producers, notably Chesapeake Energy Corp. and ConocoPhillips, are conspiring to limit their production to raise the price of natural gas in violation of the antitrust laws. ConocoPhillips said the allegations are “without foundation.”

A Washington, DC-based watchdog group has called on the Department of Justice (DOJ) to investigate whether large natural gas producers, notably Chesapeake Energy Corp. and ConocoPhillips, are conspiring to limit their production to raise demand for and increase the price of natural gas in violation of the antitrust laws. ConocoPhillips said the allegations are “without foundation.”

Last year saw a transformation at Houston-based Carrizo Oil & Gas Inc. as the company shifted from deriving its revenue mostly from natural gas to an equal reliance upon revenue from oil production, CEO Chip Johnson told financial analysts Tuesday. “We expect this trend to continue for the entire year of 2012 as we become increasingly weighted toward oil production,” he said.

With the onshore oil rig count “on fire,” Raymond James & Associates Inc. on Monday raised its U.S. onshore rig forecast for 2011 by 3% and initiated a 2012 forecast that is 9% higher year/year (y/y).

Unconventional natural gas — most notably that found in shale rock — is transforming the gas industry. It will be transformational for major international oil companies, too. But that won’t happen right away, according to an analysis by consultant Wood Mackenzie.