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Magnum Hunter Resources Corp. posted a 51% increase in estimated total proved reserves as of June 30 compared to the year-ago period, the shale-focused producer said.

A horizontal well targeting the Cotton Valley formation in northern Louisiana recently flowed at an initial production rate of 3,019 boe/d over a 24-hour period, according to privately held producer Indigo Minerals LLC.

Global oil production capacity increases, especially from unconventional U.S. oil, are accelerating so quickly that output could jump almost 20% by 2020, which could dramatically reduce and possibly collapse oil prices, according to an analysis by a Harvard Kennedy School researcher and former oil industry executive.

State and federal agencies have asked Oklahoma exploration and production companies to stand down and stop their work for a brief period in response to a rise in the number of fatalities and injuries in the oil and natural gas fields in the state.

Natural gas prices will remain weak at around two bucks through this year, with sub-$2 prices for some period during the summer, and natural gas liquids (NGL) prices won’t be giving bulls anything to smile about either, Standard & Poor’s Ratings Services (S&P) analyst Michael Grande said during a teleconference Thursday.

The bloom has been off the dry gas rose for a while now, but the Fayetteville Shale continues to provide Arkansas with a bouquet of economic activity and job creation, according to a new study.

During the first quarter Pioneer Natural Resources Co. grew production by 10,000 boe/d to 147,000 boe/d, a 7% increase from the year-ago period, thanks to growth in its three core liquids-rich assets in Texas: the Spraberry field, the Eagle Ford Shale and the Barnett Shale Combo play.

Exploratory well completions rose during the first quarter, but oil and natural gas drilling fell 28% from the comparable period last year, according to the American Petroleum Institute’s (API) well completion report for the first quarter.

Hydraulic fracturing (fracking) services that have been under pressure in North America’s natural gas basins now are seeing some of the same impacts in the liquids-rich basins, Schlumberger Ltd.’s CEO said Friday.