As oil production continues its steep climb in the Eagle Ford Shale, the South Texas play is on track to surpass the Bakken, the shale oil production leader, in the near term, an RBC Capital Markets analyst said Wednesday.
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ExxonMobil Profits Up, Output Down; Chevron the Reverse
ExxonMobil Corp.’s profits climbed 6% year/year in 4Q2012, with annual earnings jumping 9%, despite a steep fall-off in global natural gas and oil production, the supermajor reported on Friday.
ExxonMobil Output Drops, Chevron’s Rises
ExxonMobil Corp.’s profits climbed 6% year/year in 4Q2012, with annual earnings jumping 9%, despite a steep fall-off in global natural gas and oil production, the supermajor reported on Friday. Chevron Corp., however, reported strong year/year (y/y) earnings and higher production.
ExxonMobil Output Slumps, Chevron’s Strengthens
ExxonMobil Corp.’s profits climbed 6% year/year in 4Q2012, with annual earnings jumping 9%, despite a steep fall-off in global natural gas and oil production, the supermajor reported on Friday. Until natural gas prices are revived, the producer will direct most of North American unconventional spending on liquids and oil, the investor relations chief said Friday.
West Virginia Panel Recommends Fee Hikes
A committee of West Virginia lawmakers has recommended steep increases to permit fees and bonding requirements for Marcellus Shale drilling, expanding the public notice and comment period over drilling activities and changing the way it hires natural gas well inspectors.
West Virginia Panel Calls for ‘Dramatic’ Well Fee, Bonding Hikes
A committee of West Virginia lawmakers voted Wednesday to recommend steep increases in permit fees and bonding requirements for Marcellus Shale drilling, resolving two key areas of disagreement as they work to cobble together a draft regulatory reform bill.
Share Price Decline Puts Bull’s Eye on E&Ps
A steep decline in share prices, combined with uncertain oil prices, have put a bull’s eye on about two dozen large U.S. producers and close to 100 small exploration and production (E&P) companies, which may be targets for consolidation, according to a report by IHS Inc.
Prices Reverse Direction Again, Rising at Most Points
The cash market continued this week’s roller-coaster ride, returning to a fairly steep uphill track for most locations in recording gains virtually across the board Wednesday. Thursday lows getting to freezing or occasionally lower were the main driver of the bullishness, getting a small extra contribution from Tuesday’s screen advance of 3.8 cents.
Market Sheds More Weight as Screen Leads the Way
Coming off of Wednesday’s significant declines in natural gas futures, the cash market on Thursday not only recorded steep declines at a majority of points for the second consecutive day, but it also recorded widespread double-digit drops for the second consecutive day.
EOG: Short-term Bulls, Long-term Bears
The Energy Information Administration’s (EIA) recent downward production revision probably wasn’t steep enough, according to EOG Resources Inc., which last week reported a 4.8% decline in its own first quarter natural gas production.