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Hess Corp. announced Thursday that it would spend $6.8 billion in global capital expenditures (capex) in 2012, more than one-third of which would target unconventional sources in the United States, specifically the Bakken, Eagle Ford and Utica shales.

U.S. merger and acquisition (M&A) activity in the upstream oil and gas industry set records last year, both from a deal value and a deal count perspective, and there are no signs that it will slow anytime soon, according to Houston’s PLS Inc.

Domestic merger and acquisition (M&A) activity in the upstream oil and gas industry set records last year, both from a deal value and a deal count perspective, and there are no signs that it will slow anytime soon, according to Houston’s PLS Inc.

Eastern markets used to look like the Promised Land to Rockies producers. But surging production growth from the Marcellus Shale amounts to a “keep out” sign planted along the side of Kinder Morgan Energy Partners LP’s (KMP) Rockies Express Pipeline (REX).

Shale natural gas has dramatically transformed the outlook for U.S. energy supplies and is having “profound” economic impacts on creating jobs and stimulating growth, as well as bolstering tax revenue and reducing consumer energy costs, according to a study by IHS Global Insight.

Although there were a few more flat to moderately higher quotes than on Friday, a holiday-shortened trading week opened Monday much as the previous one had ended Friday: with losses at a large majority of locations. However, in a slightly bullish sign several of the gains had gotten significantly larger, and most of the losses had shrunk to single digits instead of the double-digit drops that were so prevalent Friday.

MRT will begin unscheduled maintenance Wednesday at its Perryville Hub facility that will limit its delivery capability there for a period expected to last through mid-January. The pipeline may not schedule FTS, ITS, AOR or Secondary Firm delivery volumes from its West Line or Main Lines to its two Perryville Hub meters during the week. Based on current nominations, affiliate CenterPoint does not anticipate any impact to its Perryville-related services unless more gas gets nominated for hub delivery than CenterPoint can physically transport during the unscheduled maintenance.

When it comes to ethane projects in the Marcellus Shale, MarkWest Energy Partners LP believes there is strength in numbers, the company said in a quarterly conference call on Tuesday.

Increased demand from Eagle Ford Shale producers and new gathering and processing agreements support the construction of an additional 300 MMcf/d of processing capacity at Enterprise Products Partners LP’s cryogenic gas processing facility in Lavaca County, TX, the partnership said. It is planning to construct 62 miles of 24-inch diameter and 30-inch diameter pipeline loops and increasing compression horsepower. The expansion is expected to begin service in the first quarter of 2013. Enterprise is currently constructing its Eagle Ford rich natural gas mainline system and associated laterals consisting of about 300 miles of pipeline and representing gathering and transportation capacity of more than 600 MMcf/d (see Shale Daily, Aug. 10). The Yoakum facility currently has 600 MMcf/d of capacity under construction, which is expected to begin service during the second quarter of 2012. With the additional 300 MMcf/d train, the plant will have total capacity of 900 MMcf/d when service begins, which is expected in the first quarter of 2013.