Producing

CONSOL Energy Inc.’s Appalachian-based natural gas division produced a record 40.4 Bcf in 3Q2011, or nearly 13% more, than the 35.8 Bcf produced in the year-ago period, the company reported last week. Separately, Magnum Hunter Resources Corp. also is seeing strong results in the Marcellus Shale but said gas sales have been constrained because of “volume limitations” in some midstream infrastructure.

Chesapeake Energy Corp. is reporting “strong initial production” from its first Utica Shale wells.

The Marcellus Shale is not only the most economic natural gas basin in the country, it is producing better returns than many oil plays, an energy industry analyst told an audience in Philadelphia recently.

The Marcellus Shale is not only the most economic natural gas basin in the country, it is producing better returns than many oil plays, an energy industry analyst told an audience in Philadelphia last week.

The Alberta Energy Ministry said it has sold a record C$2.68 billion in drilling rights so far this year, eclipsing the previous record of C$2.39 billion set in 2010.

Private equity firm Quantum Energy Partners has formed Bluestem Energy with industry veteran Jack Hightower to mainly acquire oil and gas producing properties as well as engage in the exploitation and exploration of reserves in North America.

Anschutz Exploration Corp. has exited the Bakken Shale play after closing the sale of its remaining operated and nonoperated oil and gas producing properties in the Williston Basin, including undeveloped acreage, to an undisclosed Canadian oil company for $115 million. The deal comes less than a year after the company sold 180,000 net acres to Oxy USA in December 2010 for $1.4 billion.

Although all of its businesses were affected by historic flooding in the second quarter, Bismarck, ND-based MDU Resources Group Inc. saw its production in the Bakken Shale play in its home state jump 10% as part of quarter-over-quarter results that were down slightly.

Governments of Canada’s producing provinces are throwing their weight behind the country’s foray into exporting liquefied natural gas (LNG) to Asia.