Despite disappointing earnings at Consol Energy Inc. during the first quarter, the company reported 10.7 Bcfe of production in the Marcellus Shale, a 60% increase that signaled that the play is becoming increasingly important for the coal and natural gas producer.
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GMX Resources Seeks Protection Through Chapter 11 Filing
GMX Resources Inc. (GMXR) announced Monday that it has filed for Chapter 11 bankruptcy, and is looking to finalize an asset purchase agreement with holders of the company’s senior secured notes to acquire all of GMXR’s operating assets and undeveloped acreage.
April 3, 2013
Penn Virginia Grows Proved Oil, NGL Reserves
Six months after selling its Appalachian Basin portfolio to focus on the oily Eagle Ford Shale, Penn Virginia Corp. (PVA) said its operations in the latter were moving forward while proved reserves of oil and natural gas liquids (NGL) had increased during 2012.
January 31, 2013
Hess Selling Terminals, Refining Business to Focus on E&P
Hess Corp. said Monday it plans to sell its oil terminal network in the United States and close its refinery at Port Reading, NJ, part of its strategy to completely exit the refining business and transform into an exploration and production (E&P) company focused on unconventional assets.
January 29, 2013
Bakken Helps Continental Nearly Double Its Proved Reserves
Continental Resources Inc. announced Wednesday that its proved reserves have nearly doubled, driven primarily by strong production growth in North Dakota and Montana’s portions of the Bakken Shale, and part from a legacy play in south-central Oklahoma.
January 28, 2013
EVEP Says Agreement to Sell Utica Acreage Unlikely By Year’s End
EV Energy Partners LP (EVEP) said that although it has received offers for its acreage in the Utica Shale, the company does not expect to announce an agreement before the end of the year.
December 27, 2012
Sidewinder, Union Merger Set to Close
Houston-based land driller Sidewinder Drilling Inc. management on Monday said it now holds about 92% of the outstanding shares of Union Drilling Inc., which allows the unconventional oilfield service operators to move forward with their merger, first announced in September.
November 6, 2012
BC Gears Up for Exports; Examines Fracking Impact
As Canadian producers line up to export liquefied natural gas (LNG), an effort has formed to answer safety questions about hydraulic fracturing (fracking), which is built into industry plans to make British Columbia (BC) shale deposits the prime supply source for LNG exports.
September 10, 2012
FMC Builds Fracturing Services with Pure Energy Acquisition
To build its “shale-related businesses,” Houston-based oilfield services operator FMC Technologies Inc., better known for its subsea business, is acquiring Calgary’s Pure Energy Services Ltd. for US$285 million.
August 23, 2012
Newfield Continues Transition to Oil Company
Newfield Exploration Co. said that in 2012 it will devote more of its capital expenditure (capex) program and boost production in natural gas liquids (NGL) and oil — at the expense of natural gas — as it looks to become an oil-weighted company by 2013.
February 24, 2012
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