The Texas Petro Index (TPI), an indicator of upstream oil and gas activity in Texas, increased modestly but steadily during the first half of the year, beginning July a scant 1.2% from matching the peak index achieved nearly five years ago, according to data released Monday. As has been the case for a while, oil production is the big story, but casinghead gas is lending support to natural gas output.
Articles from Represents
Exco Resources Inc. is paying Chesapeake Energy Corp. $1 billion for something wet and something dry: about 55,000 acres in the liquids-rich Eagle Ford Shale of Texas and about 9,600 acres in the drier Haynesville Shale in North Louisiana.
Atlas Energy LP (ATLS) exploration and production (E&P) subsidiary Atlas Resource Partners LP (ARP) is buying 466 Bcf of natural gas proved reserves in the Raton (New Mexico) and Black Warrior (Alabama) basins from EP Energy E&P Co. LP (EP Energy), a unit of EP Energy LLC, for $733 million.
There appears to be no scarcity of global shale gas opportunities, but it may be two years — or longer — before drilling progresses to commercial success, according to Raymond James & Associates Inc.
An alliance of organizations that represents commodity-dependent industries, businesses and end-users has asked a federal court in Washington, DC, to reverse an earlier decision tossing out the Commodity Futures Trading Commission’s (CFTC) controversial rule limiting excessive speculation in the multi-trillion swaps market.