Targets

August natural gas is expected to open 4 cents higher Wednesday morning at $3.81 in spite of a tweak cooler to longer-term forecasts. Overnight oil markets were narrowly mixed.

Officials in two Pennsylvania counties with significant oil and gas drilling that targets the Marcellus Shale say they support plans by the U.S. Geological Survey (USGS) to conduct baseline testing at private water wells in their counties next year.

Rex Energy Corp. said it is “pleased” with the results so far from a well targeting Ohio’s Utica Shale, but it is disappointed with a third-party well completion technique at a second well and blamed bad weather for delays in putting other wells into sales.

Pioneer Natural Resources Co.’s first horizontal Wolfcamp Shale well in Martin County, TX, — the Mabee K #1H — has been placed on production with an initial rate that the company called “strong,” and an analyst following Pioneer said confirms prospectivity in the county.

The transition to oil from lower-cost dry natural gas targets by the exploration and production (E&P) industry now is complete, with operators more able to concentrate on drilling efficiencies and the higher capital outlays required, according to Canaccord Genuity.

The transition to U.S. oil targets by the exploration and production (E&P) industry now is complete, with operators more able to concentrate on drilling efficiencies and the higher capital outlays required, according to Canaccord Genuity.

Despite persistent surpluses, soft prices and an industry-wide switch of drilling targets to liquids, construction is beginning on the first large Alberta natural gas processing plant in recent industry or regulatory memory.

Despite persistent surpluses, soft prices and an industry-wide switch of drilling targets to liquids, construction is beginning on the first large new Alberta natural gas processing plant in recent industry or regulatory memory.

Around the middle of the year, SM Energy Co. management will have a clearer picture of how to allocate spending among a number of opportunities as it targets annual production growth of 15-20% over the next three years, executives said during a conference call Wednesday.