Replaced

A liquids-focused unconventional oil and gas makeover at Houston-based Rosetta Resources Inc. is showing the company in a much improved light as it continues to ramp up its activities in the Eagle Ford Shale of South Texas, CEO Randy Limbacher told financial analysts Monday.

With more spring-like conditions having replaced the prevalent bitter cold of the past two weeks in many market regions, a majority of points recorded losses ranging from 2-3 cents to about a dime, with only a couple of them being more than single digits. The Northeast, which is getting what is expected to be short-lived return of wintry weather, was home to most of the locations that were flat to about 95 cents higher.

Last year Range Resources Corp. grew proved reserves 42% to 4.4 Tcfe and replaced 931% of its production for the year, the company said Tuesday.

If Texas lawmakers follow the recommendation of an advisory panel, the Railroad Commission of Texas (RRC) will be no more and would be replaced by the Texas Oil and Gas Commission. The new body would have one elected commissioner instead of the current three.

If Texas lawmakers follow the recommendation of an advisory panel, the Railroad Commission of Texas (RRC) will be no more and would be replaced by the Texas Oil and Gas Commission. The new body would have one elected commissioner instead of the current three.

After spending big in the nation’s gas shale patch — and taking some heat for it — Chesapeake Energy CEO Aubrey K. McClendon said Thursday it is time for the company to reap what it has sown in announcing the Oklahoma City-based producer’s plans for this year and next.

BP plc CEO Tony Hayward will step down to be replaced by current BP Managing Director Robert Dudley on Oct. 1, the company said last week. Dudley will be the first American to lead the UK-based company, which has seen its image in the United States all but destroyed following the blowout of its Macondo well, causing the largest oil spill in U.S. history.

BP plc CEO Tony Hayward will step down to be replaced by current BP Managing Director Robert Dudley on Oct. 1, the company said Tuesday. Dudley will be the first American to lead the UK-based company, which has seen its image in the United States all but destroyed following the blowout of its Macondo well, causing the largest oil spill in U.S. history.

Having dialed back on new project activity in 2007-2008 due to high costs, Royal Dutch Shell plc replaced 97% of production in 2008 on an organic basis while its business has migrated toward being weighted 50-50 natural gas vs. oil. Going forward, Shell executives said the company plans to leverage the global recession in seeking cost advantages while building reserves and infrastructure to take advantage of longer-term growth.