Steady

The pace of development in the Eagle Ford Shale in South Texas is fast and steady, yet “the [stock] market continues to not appreciate the statistical and predictable nature of the learning curve” in the play, said analysts at FBR Capital Markets. They noted that in other shale plays, more wells have equaled greater knowledge, which has yielded predictable productivity gains.

The pace of development in the Eagle Ford Shale in South Texas is fast and steady, yet “the [stock] market continues to not appreciate the statistical and predictable nature of the learning curve” in the play, said analysts at FBR Capital Markets. They noted that in other shale plays, more wells have equaled greater knowledge, which has yielded predictable productivity gains.

The U.S. natural gas rig count, steady for about two years, is down 100 rigs in the past six months and should continue to deteriorate over the next few years, Raymond James & Associates Inc. said last week.

The U.S. natural gas rig count, steady for about two years, is down 100 rigs in the past six months and should continue to deteriorate over the next few years, Raymond James & Associates Inc. said Monday.

Independent explorers now drill close to 94% of U.S. oil and natural gas wells, a level of drilling that is forecast to remain steady over the coming decade, according to a study commissioned by the Independent Petroleum Association of America (IPAA).

Independent explorers now drill close to 94% of U.S. oil and natural gas wells, a level of drilling that is forecast to remain steady over the coming decade, according to a study commissioned by the Independent Petroleum Association of America (IPAA).

Lifted by growth in its steady natural gas pipeline business and gains from the exploration unit, El Paso Corp. said last week quarterly net income rose 86% from a year ago to $147 million (21 cents/share), compared with $79 million (11 cents) in the year-ago period. Revenue rose to $1.4 billion from $1 billion.

With production exceeding its forecasts and wind in its sails, BP plc will hold a steady course through 2010 before launching a slew of new projects in 2011, CEO Tony Hayward said last week.

With production exceeding its forecasts and wind in its sails, BP plc will hold a steady course through 2010 before launching a slew of new projects in 2011, CEO Tony Hayward said Tuesday.