Raised

Despite facing legal challenges to conduct emissions auctions, California’s cap-and-trade program to auction greenhouse gas (GHG) emissions raised nearly $280 million earlier this month, selling out its entire carbon allowance allotments of 14.5 million.

The North American Electric Reliability Corporation (NERC) last Wednesday released an assessment in which it raised serious concerns about the ability of an increasingly natural gas-dependent bulk power system to maintain reliability when the capacity to deliver gas supplies to generators is constrained.

The North American Electric Reliability Corporation (NERC) Wednesday released a follow-up assessment in which it raised concerns about the ability of an increasingly natural gas-dependent bulk power system to maintain reliability when the capacity to deliver gas supplies to generators is constrained.

Rosetta Resources Inc. has raised its 2013 guidance for spending and production and increased its borrowing base in light of its pending acquisition of Permian Basin assets announced last month.

Australia-based and Eagle Ford-focused Aurora Oil & Gas Ltd. said a downspacing pilot on its non-operated acreage in the Eagle Ford’s Sugarkane Field is yielding strong results and the company is planning 40-acre spacing on its recently acquired operated acreage in the play.

The U.S. unit of Australia’s Aurora Oil & Gas Ltd. has raised its 2013 guidance for Eagle Ford Shale well count by 25-30% and said it plans to spend $430-465 million this year on drilling and related infrastructure.

National Fuel Gas Co. (NFG), which recently raised its production guidance for 2013 by 6 Bcfe to 102-112 Bcfe, said Monday it expects production to jump to 126-138 Bcfe in 2014.

Marathon Oil Corp. production targets are being raised sharply on growth in the Eagle Ford and Bakken shales, CEO Clarence Cazalot said last week. Targeted asset sales also continue, evidenced by the recent sale of a natural gas processor in Louisiana, he told analysts during a 4Q2012 conference call.

Marathon Oil Corp. production targets are being raised sharply for its growing plays in the Eagle Ford and Bakken Shales, while the targeted sale of assets continues, as evidenced by a $170 million sale of a gas processing interest in Louisiana, CEO Clarence Cazalot said during a 4Q2012 conference call with financial analysts.