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The capital markets for U.S. exploration and production (E&P) companies “appear wide open,” with most of the available funds likely to target onshore oil instead of natural gas through 2014, Barclays Capital analysts said on Wednesday.

Arkansas’ gross revenue from natural gas severance taxes so far this year is trending higher than during 2011, which turned out to be a record year for gas severance tax revenue in the Natural State.

National Oilwell Varco Inc. (NOV) COO Clay Williams said Friday the company is facing “headwinds” in North America on weaker-than-expected demand for pressure pumping and equipment.

Six energy prognosticators over the past week have raised their outlooks for domestic natural gas prices this year, with one indicating that $4.50/MMBtu this summer is “on the table” based on a colder-than-expected end to winter and slowing production in major onshore basins.

North Dakota’s record-setting oil production pace has provided an economic boost that has increased sevenfold since 2004, reaching $30.4 billion in 2011, according to a study released by North Dakota State University (NDSU).

Natural gas production in the Lower 48 was 72.70 Bcf/d in December, down 1.1% (0.83 Bcf/d) compared with the previous month but up almost 1% (0.62 Bcf/d) over December 2011, according to the most recent data from the Energy Information Administration (EIA).

Natural gas production in the Lower 48 was 72.70 Bcf/d in December, down 1.1% (0.83 Bcf/d) compared with the previous month but up almost 1% (0.62 Bcf/d) over December 2011, according to the most recent data from the Energy Information Administration (EIA).

Chesapeake Energy Corp.’s Eagle Ford Shale leasehold, now is the top producer within the company, delivering year/year growth in 4Q2012 of 266% and sequential growth of 20%, the independent reported Thursday. Net production in the South Texas play averaged 62,500 boe/d, with 66% of it oil, while 19% was natural gas and 15% liquids.

The issue of sharing offshore revenues between coastal states and the federal government, which has failed to gain support in previous Congresses, is expected to have a better chance in the 113th Congress.