Program

Harvard Researcher Sees U.S. as Largest Oil Producer by 2017

Harvard Researcher Sees U.S. as Largest Oil Producer by 2017

The United States could produce 5 million b/d from shale oil deposits by 2017 and may become the world’s largest oil producer — reaching up to 16 million b/d in just a few years by combining shale with conventional oil, liquefied natural gas (LNG) and biofuels, according to a researcher at Harvard Kennedy School.

July 19, 2013

Newfield, Hess Terminate Leases in Northeast Pennsylvania

In a blow to oil and gas development in northeast Pennsylvania, Newfield Exploration Co. and its joint venture (JV) partner, Hess Corp., have terminated about 1,500 leases in the region and dashed hopes that landowners could earn about $187.5 million in lease payments.

July 17, 2013

Industry Briefs

Driven primarily by the continued success of its drilling program in the Marcellus Shale, Range Resources Corp. saw its production volumes surge to a record high of 910 MMcfe/d in 2Q2013, a 27% increase over 2Q2012, the Forth Worth, TX-based company said. Production during the quarter was 79% natural gas, 15% natural gas liquids (NGL) and 6% crude oil and condensate. Oil and condensate production increased 39% compared with 2Q2012, NGL production rose 35% and natural gas production increased 24%, Range said. Total 2Q2013 production exceeded the high end of Range’s guidance of 880-890 MMcfe/d due to the timing of turning wells to production and continued positive performance of wells in the Marcellus Shale. Range’s production number came in “well ahead of both Street and our estimate of 904 MMcfe/d,” said Wells Fargo Securities analysts, who added that they are looking for an update from the company on Marcellus infrastructure and pricing.

July 15, 2013

Alaska Producer Resists ‘Thinking Small’

Houston-based and Alaska-focused Buccaneer Energy, which has struggled to fund its Cook Inlet drilling program as its shares have languished, is facing a move to replace its entire board by two dissident shareholder groups that argue the company needs to streamline its operations and tone down its ambitions.

July 1, 2013
Chevron, Cimarex Expand Delaware Basin Opportunities

Chevron, Cimarex Expand Delaware Basin Opportunities

Chevron Corp. will gain access to some needed infrastructure to develop a portion of its one million-acre leasehold in the Permian Basin in West Texas, and Cimarex Energy Co. will have expanded opportunities in a key Texas county under a joint agreement.

June 26, 2013

Producer Buccaneer Resists ‘Thinking Small’ in Alaska

Houston-based and Alaska-focused Buccaneer Energy, which has struggled to fund its Cook Inlet drilling program as its shares have languished, is facing a move to replace its entire board by two dissident shareholder groups that argue the company needs to streamline its operations and tone down its ambitions.

June 26, 2013

People

Dave Hager, 56, who has been running Devon Energy Corp.’s exploration and production (E&P) program since 2009, has been promoted to COO, giving him responsibility for all operating areas and related corporate functions. Hager had been COO of Kerr-McGee Corp. prior to its 2006 merger with Anadarko Petroleum Corp. Tony Vaughn, 55, will move into Hager’s former job as executive vice president of E&P. Vaughn has been senior vice president, exploration and strategic services. He joined Devon in 1999 after spending 12 years with Kerr-McGee.

June 11, 2013
Pennsylvania Producer Impact Fees Nearly $203M in 2012

Pennsylvania Producer Impact Fees Nearly $203M in 2012

Natural gas producers in Pennsylvania have paid most of the $202.7 million owed under the drilling impact fee enacted under Act 13, the state’s omnibus Marcellus Shale law.

May 15, 2013

Harvard Study Says FracFocus Is Inadequate Regulatory Tool

FracFocus has several design flaws that make it inadequate as a regulatory compliance tool, according to a study conducted by the Environmental Law Program at Harvard Law School.

April 24, 2013

Wyoming DEQ Increases Oil/NatGas Engine Checks

Wyoming Department of Environmental Quality’s (DEQ) Air Quality Division (AQD) Administrator Steve Dietrich on Monday reinforced the state’s intention this spring to increase its program for compliance checks of oil and natural gas production facility engines.

April 17, 2013
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