With production growing 39% in the Ardmore Basin’s Woodford Shale and a 75% increase in Bakken output, ExxonMobil Corp. plans to forge ahead with liquids and crude oil unconventional opportunities in North America, and keep its substantial natural gas prospects for better days, the investor relations chief said Thursday.
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Resolute Energy Corp. said Friday it plans to run with the Wolfcamp pack this year and increase net production by more than 50% over the 2012 level, reflecting, in part, recent acquisitions in Midland and Ector counties, TX.
The overall cash market averaged close to 8 cents higher Friday, but if the widely fluctuating gains and losses of eastern points are subtracted, the market fell close to a nickel for weekend and Monday deliveries.
Abraxas Petroleum Corp. said a recent Eagle Ford Shale well has been performing better than expected, but its operations in the Williston Basin in North Dakota have been hampered by equipment troubles.
GreenHunter Water LLC recently began handling water disposal services at its newly completed salt water disposal (SWD) facility near Helena in Karnes County, TX. The facility is composed of new storage tanks and a fully contained offloading platform that features four unloading tractor trailer bays, a 150 hp pumping system and 2,400 bbl of onsite storage. The newly drilled SWD well was completed to the Middle Wilcox formation at a total depth of 7,800 feet. Green Hunter Water is a unit of GreenHunter Energy Inc. “We expect demand for Class II injection capacity in this part of the Eagle Ford Shale play to remain robust due to the increased drilling in the region directly related to the successful drilling efforts by operators in the ‘oil window’ of the Eagle Ford,” said Green Hunter Energy President Jonathan D. Hoopes. “With this new well now online and the facility operational, GreenHunter Water’s total owned disposal capacity has reached 35,000 bbl per day from a total of seven SWD wells located in five states.”
Natural gas prices this year and next will be slightly higher than previously forecast, lifted in large part by an expected increase in demand from the industrial sector, the Energy Information Administration (EIA) said Tuesday.
One day after purchasing natural gas processing facilities and associated infrastructure in the Marcellus and Utica shale plays, MarkWest Energy Partners LP said it plans to remain independent and will allocate more toward capital expenditures (capex) in 2012.