Significant

Dallas-based EXCO Resources Inc. on Thursday credited drilling success in the Haynesville Shale for “a significant increase” in proved reserves. The company also said it is shopping for offers that would compete with a buyout proposal it received from its CEO late last year.

Dallas-based EXCO Resources Inc. on Thursday credited drilling success in the Haynesville Shale for “a significant increase” in proved reserves. The company also said it is shopping for offers that would compete with a buyout proposal it received from its CEO late last year.

A new report on natural gas as a fuel for Canada’s transportation sector outlines compelling reasons for embracing a diversified transportation fuel strategy that includes natural gas. However, significant challenges to deployment of natural gas vehicles (NGV) in Canada must be overcome, according to the report, which was released by a roundtable of the Canadian Natural Gas Vehicle Alliance (CNGVA).

While there are probably no significant shale gas supplies coming out of Nevada any time soon, there are some longer-term prospects, and in the meantime state oil and gas stakeholders are keeping an eye on shale developments in the Rockies and Western Canada, according to a gas engineering specialist at the Nevada Public Utilities Commission (PUC).

The Fayetteville Shale in northern Arkansas not only appears destined for sustained significant growth well into the future but commands some of the highest shale pricing around. One of the chief signals of these optimistic expectations was the Dec. 1 start-up of service on Fayetteville Express Pipeline (FEP), providing a major addition to takeaway capacity for the shale’s producers.

High domestic production, mild weather and the absence of significant hurricane activity in the Gulf of Mexico have contributed to the decline in Henry Hub spot natural gas prices, as well as a large inventory build, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook for November.

High domestic production, mild weather and the absence of significant hurricane activity in the Gulf of Mexico have contributed to the decline in Henry Hub spot natural gas prices, as well as a large inventory build, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook for November.

Oil and natural gas producers and environmental groups routinely have been at odds with each other over the practice of hydraulic fracturing (fracking), but they are now working together to draft a framework for regulation.

In addition to announcing a significant shift in its shale strategy, Fort Worth-based Range Resources said this week that it has trimmed its quarterly losses from $29.8 million, or 19 cents/share during 3Q2009 to $8.2 million, or 5 cents/share for 3Q2010.