With natural gas prices hitting a 10-year low this year, U.S. oil and gas companies have shifted their focus and added more profitable liquid-rich unconventional plays to their portfolios, leading to a dramatic increase in the number and total value of asset mergers and acquisitions (M&A) in the third quarter of 2012, according to PwC US.
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Barclays Lifts 4Q Natural Gas Price
Barclays Capital has lifted its natural gas price forecast for the final three months of this year to $3.35/MMBtu, up from $3.00.
Poll Shows Shift in Favor of Fracking Among New York State Voters
Public opinion of hydraulic fracturing (fracking) among voters in New York State has shifted in favor of the practice, according to a Quinnipiac University poll released on Wednesday.
Development Trumps Acquisitions in 2011 E&P Spending
During a year in which producers shifted their spending away from natural gas and toward oil and away from amassing acreage to developing what was previously acquired, “everything was up,” Ernst & Young LLP’s Charles Swanson, Houston managing partner, told reporters in Houston last week at a briefing on the company’s latest U.S. exploration and production (E&P) benchmark study.
Development Trumps Acquisitions in 2011 Producer Spending
During a year in which producers shifted their spending away from natural gas and toward oil and away from amassing acreage to developing what was previously acquired, “everything was up,” Ernst & Young LLP’s Charles Swanson, Houston managing partner, told reporters in Houston Tuesday at a briefing on the company’s latest U.S. exploration and production (E&P) benchmark study.
Pennsylvania Data Shows Shift to Wet Gas, Top Operator Shuffle
Operators in Pennsylvania spud fewer Marcellus Shale gas wells last month than the year before, shifted their focus to counties in wetter areas of the play and saw turnover at the top in terms of most wells spud, data from the state Department of Environmental Protection (DEP) shows.
Alaska Officially Turns to LNG Solution for North Slope Gas
Last Wednesday market forces officially shifted Alaska’s effort to commercialize its North Slope gas from a Lower 48 pipeline project to an in-state pipeline with gas liquefaction and export capability to serve high-value Asian markets. Along the way to export, some of the gas would be diverted for use in state.
Alaska Officially Turns to LNG Solution for North Slope Gas
On Wednesday market forces officially shifted Alaska’s effort to commercialize its North Slope gas from a Lower 48 pipeline project to an in-state pipeline with gas liquefaction and export capability to serve high-value Asian markets. Along the way to export, some of the gas would be diverted for use in state.
Oil In the Ascent at Carrizo Oil & Gas
Last year saw a transformation at Houston-based Carrizo Oil & Gas Inc. as the company shifted from deriving its revenue mostly from natural gas to an equal reliance upon revenue from oil production, CEO Chip Johnson told financial analysts Tuesday. “We expect this trend to continue for the entire year of 2012 as we become increasingly weighted toward oil production,” he said.
No Slowdown in North Dakota, Energy Official Says
“The idle well [count] increased again to 762 wells, approximately 300 above the normal 450, indicating that drilling continues to outpace fracturing services and a need to add approximately 10 crews,” Helms said in his monthly “Director’s Cut” report.