Rex Energy Corp. said Monday that its estimated proved reserves exceeded 1 Tcfe, thanks in large part to its core operating areas in eastern Ohio and Western Pennsylvania, where the company has reported increasing success in the last year or so (see Shale Daily, Jan. 16).
Reserves
Articles from Reserves
With Appalachian Reserves Growing, Magnum Hunter Inches Closer to Pure-Play
Magnum Hunter Resources Corp. said Monday the Appalachian Basin now accounts for approximately 80% of its total proved reserves, up from 70% at the end of last year as it continues to divest non-core assets to focus on developing nearly 200,000 net Marcellus/Utica acres.
U.S. E&Ps Spending Less, Producing More Natural Gas, Oil
U.S. natural gas and oil reserves each increased by 9% in 2013 at a lower cost than in 2012, primarily because of gains by the largest independents, Ernst & Young LLP (EY) revealed in its latest annual review.
Mexico’s Proven Reserves Decline; Pemex Inks Deals With Total, GDF
Mexico’s proven reserves of oil and natural gas fell 3.1% in 2013, according to data from the nation’s energy ministry. Meanwhile, national oil company Petroleos Mexicanos (Pemex) has signed cooperation agreements with France’s Total SA and GDF Suez SA.
NatGas Reserves Stumbled, Crude Oil Surged in 2012, EIA Says
U.S. crude oil reserves in 2012 surged to their highest level since 1976, but low natural gas prices drove down gas proved reserves for the first time since 1998, the Energy Information Administration (EIA) said Thursday.
Low Prices Gave NatGas Reserves a Haircut in 2012
U.S. crude oil reserves in 2012 surged to their highest level since 1976, but low natural gas prices drove down gas proved reserves for the first time in 14 years, the Energy Information Administration (EIA) said Thursday.
ExxonMobil Turn to Liquids Shows in Proven Reserves Estimates
ExxonMobil Corp. replaced its proved oil and natural gas reserves in 2013 by 1.6 billion boe, a 103% replacement overall and a 153% jump in crude and liquids. However, total proved reserves, which now stand at 25.2 billion boe, are flat from a year ago.
Calgary’s Baytex Buying Out Eagle Ford-Focused Aurora
Calgary-based Baytex Energy Corp. is buying out Eagle Ford Shale player Aurora Oil & Gas Ltd. of Perth, Australia in a cash and debt deal worth C$2.6 billion (US$2.36 billion).
Consol Added 1.63 Tcfe to Proved Reserves in 2013
Consol Energy Inc. added 1.63 Tcfe to its proved reserves through extensions and discoveries in 2013, which the company said on Thursday marks the fifth consecutive year that drillbit finding and development costs were less than 50 cents per Mcfe.
Antero Lifts Reserves Significantly, Expects Numbers to Climb Higher
Antero Resources Corp. continues to grow its holdings in the Appalachian Basin, reinforcing its position as one of the region’s most active drillers by reporting on Tuesday a 78% increase in proved reserves and a 62% increase in proved, probable and possible (3P) reserves at the end of last year.