Significant

Carrizo Oil & Gas Inc. beat its guidance and achieved record production and revenue during the second quarter of 2012, thanks in large part to new oil production from longer laterals drilled in the Eagle Ford Shale and a flatter-than-expected decline in natural gas production with new wells brought online in the Marcellus Shale.

New England must acknowledge the significant role that the natural gas transmission system plays in its electricity system, and the gas and electric industries “must make adjustments to ensure the reliability of both systems and the efficiency of both markets,” according to a draft white paper recently completed by independent grid operator ISO New England (ISO-NE).

Hydrocarbon resources — oil, natural gas and coal — in North America are more than four times the resources existing in the Middle East, and the United States is now the fastest-growing producer of oil and natural gas in the world, according to a new report from the Manhattan Institute for Policy Research.

The cash market fell on average by about 7 cents Monday as the weather outlook moderated for many parts of the country. Significant weakness was seen at Northeast points as well as the Eastern seaboard, while California locations managed to post gains. At the close of futures trading August had risen 10.7 cents to $2.883 and September added 9.0 cents to $2.876. August crude oil rose $1.54 to $85.99/bbl.

As much of the eastern half of the United States braces for its second dose of significant summer temperatures Thursday, cash prices for much of the country on Wednesday soared between a dime to more than a dollar, with the Northeast region continuing to come in on the high side of the day’s gains.

U.S. Silica Holdings Inc. and BNSF Railway Co. are partnering to meet the needs of Eagle Ford Shale producers for sand to be used as proppant in their hydraulic fracturing (fracking) operations.

ExxonMobil Corp. and Russia’s OAO Rosneft on Friday clinched a partnership agreement to develop oil reserves in tight, low-permeability formations in Western Siberia using advanced drilling technologies that ExxonMobil has employed successfully in North America’s onshore.

A new investor presentation posted early Tuesday by Chesapeake Energy Corp. included a full-page statement by the company with the headline, “It’s been a tough five weeks, but better days ahead.” By Tuesday afternoon, the statement, originally the second page of the 32-page presentation, had been deleted with no explanation by the company.

Adding to its already significant holdings in the Permian Basin of West Texas and southern New Mexico, Concho Resources Inc. on Monday agreed to acquire all the oil and natural gas assets of Three Rivers Operating Co. and affiliated entities for $1 billion in cash.