Spent

An Ohio judge has ruled that landowners who signed oil and natural gas leases with Chesapeake Exploration LLC have the right to accept better offers from competitors, as long as the original lease is in the primary term, drilling hasn’t started and Chesapeake fails to match the offer.

More than 85% of Houston-based Rosetta Resources Inc.’s 2013 capital expenditure (capex) budget of $700 million will be spent in the liquids-rich window of the Eagle Ford Shale, while about 10% will go to evaluate new venture opportunities outside the shale play that the company recently began talking about.

More than 85% of Houston-based Rosetta Resources Inc.’s 2013 capex budget of $700 million will be spent in the liquids-rich window of the Eagle Ford Shale. About 10% of spending will go to evaluation of new venture opportunities outside the Eagle Ford that the company recently began talking about.

Upstart onshore operator Halcon Resources Corp. expects to produce 17,000-20,000 boe/d in the final three months of this year and should produce 40,000-45,000 boe/d in 2013, management said Thursday.

Attorneys on both sides of the legal battle over Act 13, Pennsylvania’s omnibus Marcellus Shale law, spent two hours in a packed Pittsburgh courtroom Wednesday giving oral arguments before the state Supreme Court.

Royal Dutch Shell, which has spent nearly $5 billion over the past seven years to drill in Alaska’s offshore, suspended its plans to drill for oil and natural gas in Arctic waters this year due to damage to a containment system caused by sea ice.

Chesapeake Energy Corp., which has spent the last decade creating one of the largest natural gas drilling machines in the United States, quickly is becoming an onshore liquids dynamo, CEO Aubrey McClendon told financial analysts Tuesday.

Exploration and production (E&P) companies that chased natural gas liquids (NGL) targets in the second quarter may have spent more than they had planned and could be forced forced to raise full-year 2012 capital expenditure (capex) guidance or cut incremental activity, which in turn would affect production growth, according to Tudor, Pickering, Holt & Co. (TPH).

Exploration and production (E&P) companies that chased natural gas liquids (NGL) targets in the second quarter may have spent more than they had planned and could be forced to raise full-year 2012 capital expenditure (capex) guidance or cut incremental activity, which in turn would affect production growth, according to Tudor, Pickering, Holt & Co. (TPH).