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Chief Pays Pennsylvania $180K for Violations

Chief Oil & Gas LLC has paid $180,000 in fines for two violations discovered last year at a well in Somerset County, the Pennsylvania Department of Environmental Protection (DEP) said Tuesday.

June 29, 2011

ExxonMobil Grabs More Marcellus Acreage

ExxonMobil Corp. confirmed late Wednesday that it paid $1.69 billion earlier this month to acquire two related Pennsylvania-based natural gas producers that operate in the prolific southwestern corner of Marcellus Shale.

June 10, 2011

Air Group Claims Barnett Emissions Costing Industry

The value of fugitive natural gas and condensate air emissions in the Barnett Shale of North Texas is about $52 million a year, according to research paid for by a clean air group, which asserts that “simple air pollution control devices” would capture this lost revenue if they were installed in the nine-county nonattainment area around Dallas-Fort Worth (DFW).

June 7, 2011

Enerplus Sells Portion of Marcellus Stakes for $575M

Calgary-based Enerplus Corp. is selling a portion of its Marcellus Shale interests in Pennsylvania, Maryland and West Virginia to an undisclosed buyer for US$575 million.

May 20, 2011

Penn Virginia Finding Success in Eagle Ford Shale

Penn Virginia Corp. (PVA) has paid $14.5 million for approximately 4,100 net acres in Gonzales County, TX, bringing its total net Eagle Ford Shale acreage to about 10,900 acres, and has seen success with its initial Eagle Ford well, the Radnor, PA-based company said.

February 28, 2011

Storage Report Discounted as Traders Focus on Weather; March Falls

March natural gas futures slid lower Thursday as traders focused on near-term warmth and paid little heed to a government inventory report showing the second largest withdrawal from gas inventories of the season. By the end of the session March was 5.3 cents lower at $3.868 and April fell 6.0 cents to $3.901. March crude oil rose $1.37 to $86.36/bbl.

February 18, 2011

Texas Cities Claim Bias at Railroad Commission

Retail natural gas consumers in the Lone Star State have paid “tens of millions of dollars more” for the commodity than they should have due to “one-sided” decisions by the Railroad Commission of Texas (RRC), a coalition of Texas cities’ analysis charges.

December 20, 2010

Texas Cities Say Regulators Favor Utilities

Retail natural gas consumers in the Lone Star State have paid “tens of millions of dollars more” for the commodity than they should have due to “one-sided” decisions by the Railroad Commission of Texas (RRC), a coalition of Texas cities’ analysis charges.

December 15, 2010

Industry Brief

South Korean producer STX Energy Co. has paid Encana Corp. C$152 million (US$144 million) to acquire the Maxhamish natural gas field in northwestern Canada. Estimated reserves in the Canadian gas field are about 120 Bcf. Current output from the field is 20.5 MMcf/d. STX said it plans to raise output to around 27 MMcf/d in the near term. Annual sales are expected to be C$40 million for at least 30 years, the producer said. South Korea imports nearly all of its energy, and STX said it plans to look for more investments overseas in the near term.

August 31, 2010

Industry Brief

Penn Virginia Corp. has paid $31.1 million to acquire nearly 6,800 net acres in the Eagle Ford Shale, primarily in Gonzales County, TX. The acquisition was funded with cash on hand, the company said. The new acreage is estimated to contain more than 40 horizontal well locations, with Penn Virginia’s working interest averaging about 73%.

August 13, 2010