Proceeds

GeoSouthern Energy Corp. will use the proceeds from a $1 billion credit facility that closed Thursday to continue the development of its 173,000 gross acre position in the condensate and oil windows of the Eagle Ford Shale in South Texas, the privately held independent exploration and production company said.

GeoSouthern Energy Corp. will use the proceeds from a $1 billion credit facility that closed Thursday to continue the development of its 173,000 gross acre position in the condensate and oil windows of the Eagle Ford Shale in South Texas, the privately held independent exploration and production company said.

ConocoPhillips revealed Wednesday that in the last three months of 2011 it acquired more than 100,000 acres in North American liquids-rich shale plays, bringing its unconventional acquisitions last year to more than 500,000 acres.

Among those midstream players scurrying to put assets on the ground is Enterprise Products Partners LP, which posted record earnings for the second quarter. During an earnings conference call COO Jim Teague enthused about growth in the Eagle Ford and Haynesville shales, as well as plans to move liquids out of the Marcellus.

Universities should be working to answer outstanding questions about shale development, but until they do the practice should proceed cautiously, if it proceeds at all, a Cornell University professor told students in Pittsburgh on March 18.

Midstream players Energy Transfer Partners LP (ETP) and Regency Energy Partners LP have formed a joint venture to follow their producer customers to where the money is: liquids-rich shale plays. The partners are acquiring natural gas liquids (NGL) storage, fractionation and transportation assets to expand their producer service offerings.

Universities should be working to answer outstanding questions about shale development, but until they do the practice should proceed cautiously, if it proceeds at all, a Cornell University professor told students in Pittsburgh on Friday.

Better-than-expected performance in the Marcellus Shale helped Cabot Oil & Gas Corp.’s shareholders kick the stock almost 13% higher on Wednesday.

The Pennsylvania House of Representatives, which last year approved a natural gas severance tax bill only to see it die in a subsequent lame duck session, will have another chance to implement the tax during its 2011 current session.