The senior executives of Halcon Resources Corp. have a fatter checkbook than when they started Eagle Ford Shale pioneer Petrohawk Energy Corp. not so very long ago. Having sold that successful natural gas-focused venture, with Halcon they are targeting unconventional oil plays with a similar strategy and expecting similar success.
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A group of companies in Ohio that raised nearly $10 million from investors for oil and natural gas development projects has filed for bankruptcy and has agreed to pay the U.S. Securities and Exchange Commission (SEC) a $4.5 million judgment.
Anadarko Petroleum Corp. has reduced its natural gas-operated rig count in the Marcellus Shale and in the Greater Natural Buttes of Utah to put more mechanical muscle into the oily Wattenberg field of Colorado, which is delivering the highest rates of return (ROR) in the U.S. onshore portfolio, said CEO Al Walker.
Officials with Whiting Petroleum Corp. said the company is poised to meet its production guidance for the year, with increased drilling in emerging shale plays and a slight increase in capital expenditures (capex).
Independent petroleum engineering consultant Bob King has been named the interim supervisor of the WyomingOil and Gas Conservation Commission (OGCC) as the state searches for a permanent replacement for Tom Doll, who resigned effective July 2 (see Shale Daily, June 18). King, who has worked in the state’s oil and gas industry for 30 years, served in a similar capacity on an interim basis in 2008-2009, according to Gov. Matt Mead. “The OGCC has a critical role, and Bob’s experience will provide necessary leadership as we begin the search for a permanent supervisor,” Mead said. State law requires the supervisor position to be filled by a petroleum engineer or petroleum geologist.
DCP Midstream Partners has moved to increase its market position in East Texas, agreeing to pay Penn Virginia Resource Partners LP (PVR) approximately $63 million for the Crossroads processing plant and associated gathering system in Harrison County, TX, the two companies said.
Shale and tight oil plays are key components of the North American portfolio of Norway’s Statoil ASA, executives told investors in New York City Wednesday. The company also has announced a farm-in agreement that gives it early entry into an Australian shale play.
Chesapeake Energy Corp. on Friday agreed to sell its midstream businesses to Global Infrastructure Partners (GIP) in three separate transactions for more than $4 billion in cash. Chesapeake would net about $2.4 billion and cut previously budgeted midstream capital spending over the next three years by $3 billion.