Rigs

Lack of heat and hurricanes, ample supply and capacity constraints were once again working in concert Friday for weekend and Monday natural gas delivery as physical gas price averages across the country continued lower with certain infrastructure-challenged locations in the Northeast coming off by 50 cents to nearly a dollar. September natural gas futures continued to probe lower Friday and ended up dropping 4 cents to close at $3.347, a fresh five-month low for a prompt-month close.

Rosetta Resources Inc. has agreed to pay Comstock Resources Inc. $768 million for a package of Permian Basin oil and liquids-rich assets, giving it entry into the West Texas basin.

Last year proved challenging for the North American oilfield sector, as operators moved rigs from natural gas to more lucrative liquids targets and an overcapacity in pressure pumping continued to impact margins. This year won’t be much better, Halliburton Co.’s management team said Friday.

Last year proved challenging for the North American oilfield sector, as operators moved rigs from natural gas to more lucrative liquids targets and an overcapacity in pressure pumping continued to impact margins. This year won’t be much better, Halliburton Co.’s management team said Friday.

Louisiana’s economic output will grow by $30 billion between 2011 and 2019 as a result of natural gas-induced investment, according to a report by Louisiana State University’s Center for Energy Studies that details the impact of the natural gas boom on the state.

As they continue to pursue rules on hydraulic fracturing (fracking), California oil/gas officials are not seeing the increase in exploratory activity or permitting as other shale basins around the nation have experienced. Drilling activity is down slightly compared to this time last year, a spokesperson for the state Division of Oil, Gas and Geothermal Resources (DOGGR) told NGI’s Shale Daily Wednesday.

The onshore United States “remains the No. 1 place for investment” and the likelihood for future deal making “remains high,” according to Tudor, Pickering, Holt & Co. (TPH) CEO Bobby Tudor.

Improved well results experienced by Houston-based Crimson Exploration Inc. and other operators continue to demonstrate the economic viability of the Eagle Ford Shale in Zavala and Dimmit counties, TX, said Crimson CEO Allan Keel in announcing the company’s latest well results Monday.

San Diego, CA-based Osage Exploration and Development Inc. reported Monday that it has spudded its fourth horizontal oil well in the Mississippian Lime formation and the rock quality appears promising. The well — the McPhail #2-18H in section 18-18N-3W of Logan County, OK –. is in the 30,000-plus acre Nemaha Ridge project, which is owned by Osage in conjunction with its partners, project operator Slawson Exploration Co. and U.S. Energy Development Corp.