Propelled

Subsidiaries of Kinder Morgan Inc. (KMI) propelled the company to big profits during the first quarter of 2013, allowing it to raise its quarterly dividend 19% and aligning it for more than $12 billion of expansion and joint venture (JV) projects across North America.

Subsidiaries of Kinder Morgan Inc. (KMI) propelled the company to big profits during the first quarter of 2013, allowing it to raise its quarterly dividend 19% and aligning it for more than $12 billion of expansion and joint venture (JV) projects across North America.

Propelled by its U.S. onshore crude oil and liquids output, EOG Resources Inc. reported better-than-expected profits for the third quarter. Investors in return sent the stock price up 4.37% on Tuesday.

Jet-propelled by organic drilling, Range Resources Corp.’s natural gas-weighted production blasted 42% higher in the second quarter from a year ago and was 10% more than in the first quarter, the independent said last week. Gas production, which makes up 80% of total output, rocketed 48% higher.

Jet-propelled by organic drilling, Range Resources Corp.’s natural gas-weighted production blasted 42% higher in the second quarter from a year ago and was 10% more than in the first quarter, the independent said Thursday. Gas production, which makes up 80% of total output, rocketed 48% higher.

Crude oil production in the United States and Canada will grow by 3.1 million b/d, or about 38%, over the next five years thanks to technologies and development practices honed in the U.S. shale gas patch, according to a new analysis by Bentek Energy LLC. The United States alone will grow oil production by 2.2 million b/d, most of it light or intermediate grades, the firm said.

McMoRan Exploration Co. surprised analysts Tuesday after reporting that it swung to a profit in the final three months of 2011, propelled by increased natural gas-weighted output and lower operating expenses.

Propelled almost entirely by the previous day’s 49-cent futures spike following a modestly bullish storage injection report, the cash market rose at nearly all points Friday. Although it was on the light side, residual heating load in Canada, the northern half of the U.S. and to some extent in the eastern end of the South provided auxiliary price support, and apparently the usual weekend decline of industrial demand had little impact.

Producers lining up to launch unconventional natural gas developments propelled drilling rights sales in British Columbia to a record C$2.66 billion (US$2.23 billion) for 2008. The new annual high scored by monthly auctions of provincial mineral rights is more than double British Columbia’s previous peak of C$1.05 billion (US$874 million) set in 2007 and a six-fold jump from the previous 10-year average of C$434 million (US$364 million).