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WPX Takes 3Q Loss, But Bakken Oil and Marcellus Gas Booming

WPX Energy Inc. announced a net loss of $64 million for 3Q2012 on Thursday, but it also reported significant growth in oil production in the Bakken Shale and tripled natural gas production in the Marcellus.

November 2, 2012

Energy Transfer, XTO Ink Woodford, Barnett Midstream Deal

Energy Transfer Partners LP (ETP) said Thursday that it has made an agreement to provide natural gas gathering, processing and transportation services in the Woodford and Barnett shales for XTO Energy Inc., a subsidiary of ExxonMobil Corp.

October 24, 2011

Linn Energy Enters Bakken Play

Linn Energy has agreed to pay $196 million to Concho Resources to acquire oil properties in the Bakken play in North Dakota, the companies said Monday. The properties are expected to add current net production of about 1,350 Boe/d (94% of it oil), proved reserves of approximately 8 MMBoe (83% oil) and more than 400 potential oil drilling locations, according to Linn.

March 3, 2011

Petrohawk Forges Ahead in the Eagle Ford

Petrohawk Energy Corp. announced Tuesday that test wells using a new flow-channel fracturing technique called HiWAY — created by Houston-based Schlumberger Ltd. — yielded increased production and it plans to expand use of the technology.

February 25, 2011

Range Tips Its Hat to Marcellus for Reserves Growth

Last year Range Resources Corp. grew proved reserves 42% to 4.4 Tcfe and replaced 931% of its production for the year, the company said Tuesday.

January 26, 2011

Quicksilver Resources Increases Proved Reserves to 1.1 Tcfe

Fort Worth, TX-based Quicksilver Resources Inc. announced that it finished 2005 with proved reserves of 1.1 Tcfe, an increase of 146 Bcfe over 2004 year-end reserves. The company also announced a 2006 capital expenditure budget of $566 million, which includes $359 million for drilling, $160 million for gathering and processing facilities and $47 million for leasehold acquisitions.

February 1, 2006

El Paso Reports ’05 Proved Reserves Climbed 22%

Hitting the comeback trail, El Paso Corp. reported Tuesday its year-end 2005 proved natural gas and oil reserves totaled 2.7 Tcfe, up 22% from 2004. The total included El Paso’s share of proved reserves in Four Star Oil & Gas Co. During 2005, El Paso’s exploration and production (E&P) capital expenditures totaled $1.867 billion, and reserve replacement costs were estimated to be $2.36/Mcfe.

January 18, 2006

Burlington Eyes 3-8% Production Growth in ’05

Burlington Resources Inc. CEO Bobby Shackouls said Tuesday the company’s long-term project inventory had risen to 7 Tcfe of potential, with at least five years of drilling and development work at current activity levels. The company’s “growth goal” is 3-8% this year, which “could extend into 2006,” he said.

March 7, 2005

Burlington Eyes 3-8% Production Growth in ’05

Burlington Resources Inc. CEO Bobby Shackouls said Tuesday the company’s long-term project inventory had risen to 7 Tcfe of potential, with at least five years of drilling and development work at current activity levels. The company “growth goal” is 3-8% this year, which “could extend into 2006,” he said.

March 2, 2005

Range Resources Boosts Proved Reserves in 2004

Range Resources Corp. said last week that it increased reserves by 491 Bcfe or 72% last year. The company’s proved reserves as of Dec. 31, 2004 totaled 1.18 Tcfe, comprised of 943 Bcf of natural gas and 39 million barrels of oil and natural gas liquids.

January 31, 2005
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