Respectively

Arkansas’ gross revenue from natural gas severance taxes so far this year is trending higher than during 2011, which turned out to be a record year for gas severance tax revenue in the Natural State.

Citing drilling and acquisitions it made last year in the Wattenberg field north of Denver, PDC Energy Inc. on Wednesday reported a 19% jump in production in the first quarter, compared with the same period last year, and record output of more than 10,000 b/d of liquids.

Rosetta Resources Inc. said it achieved double-digit growth in production and proved reserves while it “significantly reduced” well costs during 2012. The company said it replaced 472% of production from all sources at a reserve replacement cost of $10.03/boe.

Natural gas prices in the various North American shale basins rose about 50 cents, or close to 20%, year-to-year from Jan. 1, 2012 to Jan. 1, 2013, moving mainly from the $2.80s to the $3.30s per MMBtu. At the same time, operating rigs in the same basins dropped 21%, according to surveys conducted throughout the year for NGI’s Shale Daily.

SM Energy said Wednesday that next year it will spend 90% of its planned drilling and completions budget of $1.2 billion on its Eagle Ford, Bakken/Three Forks and Permian Basin programs.

Development of the nation’s shale natural gas plays may be a thankless job for producers today, but its value will pay off in the years to come, according to the CEO of Chief Oil & Gas LLC, who hopes to expand his company’s presence in the Marcellus and Utica shales.

Despite previously announced intentions to find a partner to help develop its Eagle Ford Shale acreage, Denver-based Forest Oil Corp. said it has identified a “go-it-alone plan that is attractive to the company.”

The Federal Energy Regulatory Commission has approved the requests of ANR Pipeline, Trunkline Gas Co. and Southern Natural Gas Co. LLC [CP11-543, CP12-5, CP12-4, respectively] to abandon by sale all or virtually all of their pipeline facilities in the Gulf of Mexico. FERC gave ANR the green light to abandon by sale to subsidiary TC Offshore LLC about 600 miles of pipeline and associated facilities onshore; Southern Natural Gas to abandon to High Point Gas Transmission LLC 604 miles of pipe facilities offshore and onshore; and Trunkline to abandon to affiliate Sea Robin Pipeline Co. LLC about 533 miles of pipeline and most of its offshore interests. Several producers, including Apache Corp., LLOG Exploration Co. LLC, Indicated Shippers, W&T Offshore, McMoRan Exploration Co. and the Producer Coalition protested ANR’s abandonment proposal, calling it an inappropriate attempt to charge higher rates without having to file a Section 4 rate case under the Natural Gas Act.

A bill to legalize and begin regulating hydraulic fracturing (fracking) passed the North Carolina House of Representatives on Thursday. It will return briefly to the state Senate before being sent to Gov. Bev Perdue for her signature.