Record

North Dakota’s record-setting oil production pace has provided an economic boost that has increased sevenfold since 2004, reaching $30.4 billion in 2011, according to a study released by North Dakota State University (NDSU).

Natural gas production from unconventional sources in Pennsylvania hit a record 2.04 Tcf in 2012, as the state’s Marcellus/Utica shale gas for the first time edged ahead of the granddaddy Barnett Shale in Texas.

Natural gas production from unconventional sources in Pennsylvania hit a record 2.04 Tcf in 2012, as the state’s Marcellus/Utica shale gas for the first time edged ahead of the granddaddy Barnett Shale in Texas.

The U.S. Bureau of Land Management (BLM) received bonus oil and natural gas bids totaling $4.068 million for 26 parcels in Utah that cover 37,414 acres in the latest quarterly lease sale, officials reported Tuesday.

Westlake Chemical Corp. enjoyed record fourth quarter and full year results last year, driven in large part by lower ethylene feedstock costs resulting from the abundant supply of natural gas liquids (NGL) available in North America, CEO Albert Chao told analysts during a conference call Tuesday.

Westlake Chemical Corp. enjoyed record fourth quarter and full year results last year, driven in large part by lower ethylene feedstock costs resulting from the abundant supply of natural gas liquids (NGL) coming out of North American shale plays, CEO Albert Chao told analysts during a conference call Tuesday.

EOG Resources Inc. said it now holds 2.2 billion boe of potential recoverable crude oil reserves in the Eagle Ford Shale — reportedly the largest share net to one company in the last 40 years — and plans to continue focusing on oil production in 2013, after posting large increases in oil, condensate and natural gas liquids (NGL) production the year before.

The promise of production from seven “exceptional” wells brought online in January in Pennsylvania’s Marcellus Shale and continuing additions to its pipeline business paint an expanding future for National Fuel Gas Co. (NFG) in 2013, CEO Dave Smith said during a conference call with analysts.

Natural gas production in the Lower 48 states climbed 0.6%, or 0.41 Bcf/d, in November from October levels, according to the latest figures from the Energy Information Administration (EIA). Lower 48 production was 73.88 Bcf/d, a new record for the data, which EIA began reporting in January 2005.