Revenues

A joint committee of the Wyoming legislature on Wednesday heard a variety of proposals that are supposed to offer the state more revenues from its vast coal and natural gas resources while lowering greenhouse gas (GHG) emissions. Ultimately, the schemes could involve integration of the two fossil fuels to nuclear power.

Four days after Gulfport Energy Corp. said it would buy 30,000 net acres in the Utica Shale in eastern Ohio, the company announced Thursday that the agreement has been amended to include an additional 7,000 net acres for $70 million.

EQT Corp. plans to spend $1.5 billion on capital expenditures (capex), drill more than 170 wells and invest $320 million in midstream projects in 2013, according to the company’s operational forecast released Tuesday.

Continued low natural gas prices have further cut into Wyoming’s revenues that will require budget cuts of up to 8% in 2013, Wyoming Gov. Matt Mead said last week. Pointing to gas spot prices at Opal, he said prices may be overemphasized, but “the gas prices are not where we would like to see them, and it is affecting our budget.”

Continued low natural gas prices have further cut into Wyoming’s revenues that will require budget cuts of up to 8% in 2013, Wyoming Gov. Matt Mead said Wednesday.

Gastar Exploration Ltd. said Wednesday net production from its Marcellus Shale assets have increased more than 34-fold in a year, a result of ramped up drilling activity in the liquids-rich portion of the play during the second quarter of 2012.

The cash-strapped state park system in Colorado is considering using its nonprofit foundation to bring in more private-sector funds, which include allowing more oil and natural gas drilling in some of the state parks, such as the drilling currently taking place at one state park, St. Vrain, near Longmont, CO. A series of public meetings around the state has been set to kick off Thursday in Grand Junction and continue in Colorado Springs (July 24), Fort Collins (July 31) and Denver (Aug. 8). Colorado Parks and Wildlife officials are considering corporate sponsorships and/or more oil and gas drilling in state parks to cope with budget cuts, according to reports this month in various news media around the state. Assistant Director Ken Brink told local news media that park visitors do not want state parks named after corporations, or more oil/gas drilling in the parks, but the officials say they may have no choice. There are 42 state parks in Colorado that now are forced to develop all of their revenues through user fees.

Revenues from natural gas liquids (NGL) — particularly those from liquids-rich shale plays — have been like a mega vitamin for anemic dry gas economics, but it’s not the fourth quarter of 2011 anymore, and currently depressed NGL prices are expected to stick around for a while.

Matador Resources Co. is moving forward with its plan to target the wet gas and oil-prone Eagle Ford Shale of South Texas this year while ramping down development of its dry gas Haynesville Shale acreage in North Louisiana, the Dallas-based company said Tuesday.