Strategy

QEP Beefs Up Bakken/Three Forks Acreage in Deals Totaling $1.38B

QEP Beefs Up Bakken/Three Forks Acreage in Deals Totaling $1.38B

Continuing its strategy of increasing its acreage in the liquids-rich Bakken Shale and Three Forks Formation, a QEP Resources Inc. subsidiary has entered into two deals with multiple sellers to acquire “significant crude oil development properties” in the Williston Basin for an aggregate purchase price of close to $1.38 billion.

August 27, 2012

Forest Oil Unloads East Texas Eagle Ford Gathering for $34M

One month after announcing that it was abandoning a potential partnership strategy to help develop its Eagle Ford Shale acreage in favor of a “go-it-alone plan,” Denver-based Forest Oil Corp. said it has entered into an agreement to sell the majority of its East Texas natural gas gathering assets to a subsidiary of Tristate Midstream II LLC for proceeds of $34 million.

August 21, 2012

EOG’s Oil Strategy Returns Strong 2Q Earnings

EOG Resources’ strategy of the last year to edge away from natural gas exploration and production in order to focus on the more economically viable production of crude oil appears to be paying off as the Houston-based producer posted a 38% increase in second quarter earnings over the previous year’s quarter. The company attributed much of its strong earnings to successful programs on acreage in the South Texas Eagle Ford Shale and North Dakota Bakken Shale.

August 6, 2012

EOG’s Oil Strategy Returns Strong 2Q Earnings

EOG Resources’ strategy of the last year to edge away from natural gas exploration and production in order to focus on the more economically viable production of crude oil appears to be paying off as the Houston-based producer posted a 38% increase in second quarter earnings over the previous year’s quarter. The company attributed much of its strong earnings to successful programs on acreage in the South Texas Eagle Ford Shale and North Dakota Bakken Shale.

August 6, 2012

EOG Completes ’16 Monster Wells’ in Eagle Ford During 2Q2012

EOG Resources’ strategy of the last year to edge away from natural gas exploration and production in order to focus on the more economically viable production of crude oil appears to be paying off as the Houston-based producer posted a 38% increase in second quarter earnings over the previous year’s quarter. The company attributed much of its strong earnings to successful programs on acreage in the South Texas Eagle Ford Shale and North Dakota Bakken Shale.

August 6, 2012

Interior Schedules First Lease Sale for 2012-17 Plan

As part of the Obama administration’s “all-of-the-above energy strategy,” Interior Secretary Ken Salazar last week said the agency will offer more than 20 million acres offshore Texas for oil and natural gas exploration and development in a year-end lease sale that will include all of the available unleased areas in the Western Gulf of Mexico (GOM) Planning Area.

July 30, 2012

Interior to Hold First Lease Sale Under 2012-17 Plan in November

As part of the Obama administration’s “all-of-the-above energy strategy,” Interior Secretary Ken Salazar said Monday that the agency will offer more than 20 million acres offshore Texas for oil and natural gas exploration and development in a year-end lease sale that will include all of the available unleased areas in the Western Gulf of Mexico (GOM) Planning Area.

July 24, 2012

Sunoco Plans Permian-to-Gulf Coast Crude Pipeline

Sunoco Logistics Partners LP plans to hold an open season soon for a new crude oil pipeline project that would carry production from the Permian Basin in West Texas to Gulf Coast markets.

June 22, 2012

Dunes Sagebrush Lizard Kept Off Endangered List

The U.S. Fish and Wildlife Service (FWS) said Wednesday the dunes sagebrush lizard (DSL) does not need to be listed on the Endangered Species Act after New Mexico and Texas voluntarily agreed to protect the animal’s habitat.

June 18, 2012

Chesapeake’s ‘Mounting Turmoil’ Cited in S&P Downgrade

Standard & Poor’s Ratings Services (S&P) on Tuesday downgraded the corporate credit rating of Chesapeake Energy Corp. to “BB-” from “BB” and said the outlook was “negative.” The ratings on related entities Chesapeake Midstream Partners LP and Chesapeake Oilfield Operating LLC also were cut because the units are so closely tied to the parent, S&P noted.

May 16, 2012