Securities

The American Petroleum Institute (API) and a coalition of business groups have asked the appellate court in Washington, DC, to stay the Securities and Exchange (SEC) mandate requiring producers to publicly report how much they pay governments for access to oil, natural gas and minerals.

Pioneer Natural Resources Co.’s Eagle Ford Shale play is “hitting on all cylinders,” and in the liquids-rich Barnett Shale combo play, well costs are declining, COO Timothy Dove said during an earnings conference call.

A federal court of appeals in Washington, DC, Friday dismissed an industry challenge to a Securities and Exchange Commission (SEC) rule requiring producers to publicly report how much they pay governments for access to oil, natural gas and minerals.

A federal court of appeals in Washington, DC, Friday dismissed an industry challenge to a Securities and Exchange Commission (SEC) rule requiring producers to publicly report how much they pay governments for access to oil, natural gas and minerals.

Rosetta Resources Inc. has raised its 2013 guidance for spending and production and increased its borrowing base in light of its pending acquisition of Permian Basin assets announced last month.

Energy analysts with Wells Fargo Securities LLC on Wednesday increased their natural gas price forecasts for 2013 and 2014 and cut estimates for 2015.

A federal investigation into Chesapeake Energy Corp. and outgoing CEO Aubrey McClendon is continuing, according to the Securities and Exchange Commission (SEC), which informed the company on Dec. 21 that its Fort Worth, TX regional office “has issued subpoenas for information and testimony.” In the SEC 10-K filing, Chesapeake said it is “also responding to related inquiries from other governmental and regulatory agencies and self-regulatory agencies.” Chesapeake in May received notice from the SEC of an informal inquiry “into, among other things, certain of the matters alleged” in some lawsuits regarding McClendon’s financial transactions (see NGI, May 7, 2012).

A federal investigation into Chesapeake Energy Corp. and outgoing CEO Aubrey McClendon is continuing, according to a regulatory filing Friday.

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.