Resources

Chesapeake Energy Corp. is restructuring in more ways than one, with more layoffs expected across the nationwide organization.

North America has a remarkable amount of potential tight oil resources, but they may pale in comparison to those estimated worldwide, according to a study by IHS Inc.

TheInterior Department’sOffice of Natural Resources Revenue(ONRR) has assessed a $43,040 civil penalty onEQT Production Co., formerlyEquitable Production, for failure to report production on its oil and gas operations. According to ONRR Director Greg Gould, the civil penalty stems from a Feb. 24, 2011 notice of noncompliance that ONRR issued to the company. The Pittsburgh, PA-based company, which has offices in Charleston, WV, may request a hearing on the civil penalty. EQT is one of the fastest-growing exploration and production companies in the Appalachian region.

The bullish shale gas potential that has remained largely unexploited among Mexico’s rich hydrocarbon resources could be unleashed if Monday’s proposal by President Enrique Pena Nieto to open the nation to more shared private-sector energy investment ever becomes a reality.

Production of crude oil, condensate, natural gas liquids (NGL) and other liquids was up 30% in 2Q2013 at EOG Resources compared with 2Q2012, and the Houston-based company expects significant increases to come in the full year 2013.

Australia’s Austin Exploration Ltd. has struck an agreement for Houston-based Halcon Resources Corp. to participate in its Birch Project in the northeastern Eagle Ford Shale. Halcon’s founders are Eagle Ford veterans, having pioneered the play with a previous company.

The House Natural Resources Committee Wednesday voted out a bipartisan bill that would prohibit the Department of Interior from enforcing federal hydraulic fracturing (fracking) regulations.

With the proceeds counted from the sale of its Permian Basin acreage earlier this year, Frisco, TX-based Comstock Resources Inc. is squarely focused on the Eagle Ford Shale of South Texas, where it is drilling longer-lateral wells for less money in fewer days and looking for bolt-on acreage acquisitions. The Haynesville Shale will have to wait.

EnerJex Resources Inc. has agreed to acquire privately held Black Raven Energy Inc., a Denver-based company with more than 75,000 net acres leased in the Denver-Julesburg (DJ) Basin.