Rose

Newfield Exploration Co. said Monday its hunch that the Maverick Basin in the Eagle Ford Shale “would hold thick, high-quality” pay has turned out to be true as it released initial results from its Eagle Ford assessment program.

Chesapeake Energy Corp. is paying $200 million cash for the Yellow Rose and Bluebonnet assets in the Eagle Ford Shale of Antares Energy Ltd. and partner San Isidro Development Co, Antares said Monday.

Prices rose again at nearly all points Thursday, but it seemed increasingly likely that the current week will not run the table with firming numbers. Several flat to a couple of cents lower locations broke the preceding string of flat to higher quotes across the board; except in the Northeast, Thursday’s gains were considerably smaller than those preceding them; and — again except in the Northeast — modest warming trends were returning several areas to fall-like conditions after a temporary touch of winter.

Is the bloom coming off the Haynesville Shale rose because of its drier-gas nature, with a few producers announcing recently they will be refocusing exploration and production (E&P) efforts into “oilier” plays such as Eagle Ford in South Texas (see Shale Daily, Nov. 5; Nov. 4; Oct. 7)?

Houston-based Baker Hughes Inc. (BHI) last said its quarterly earnings rose nearly 7% as North American markets, especially onshore, rebounded from a year ago. The company also is seeing a willingness “like never before” to invest in new technology, the COO said.

Houston-based Baker Hughes Inc. (BHI) on Tuesday said its quarterly earnings rose nearly 7% as North American markets, especially onshore, rebounded from a year ago. The company also is seeing a willingness “like never before” to invest in new technology, the COO said.

ExxonMobil Corp., which soon may become one of the leading natural gas producers in North America, said Thursday global gas and oil output rose almost 5% and earnings jumped 38% in the first three months of 2010 compared with a year ago.

May natural gas futures rose as traders demonstrate internal market dynamics pointing to at least a market bottom if not higher prices. At the close Tuesday May futures were up 15.2 cents to $4.160 and June added 14.2 cents to $4.253. May crude oil slipped 29 cents to $84.05/bbl.

May natural gas futures rose as traders demonstrate internal market dynamics pointing to at least a market bottom if not higher prices. At the close Tuesday May futures were up 15.2 cents to $4.160 and June added 14.2 cents to $4.253. May crude oil slipped 29 cents to $84.05/bbl.