Range Resources Corp. CEO John Pinkerton said he believes 2012 will be “a breakout year” for the company as it ramps up production in the Marcellus Shale and develops assets in other plays to replace those in the Barnett Shale that were sold in April.
Third
Articles from Third
Kodiak Adds More Bakken Acreage, Sixth Drilling Rig
Kodiak Oil & Gas Corp. said Wednesday it has agreed to purchase 13,500 net acres in the Bakken Shale play from an undisclosed private oil and gas company for about $235 million in cash. It also agreed to assume the terms of a contract for its sixth drilling rig.
Cash Averages Continue Climb Despite Weak Fundamentals
Bolstered by Tuesday’s 9.5-cent gain in October futures, cash market averages across most of the country remained in the plus column for the third straight day Wednesday with a vast majority of points adding less than a dime. The recent stretch of price strength has market watchers scratching their heads for answers.
California Approves $100M Alternative Transportation Plan
The California Energy Commission (CEC) has approved $100 million for its third annual alternative transportation investment plan, including nearly half of the budgeted funds going toward natural gas and biofuel transportation programs. The funding follows $259 million spent since the 2008-09 fiscal year under the same CEC-administered program.
El Paso to Complete $8B Pipeline Backlog by Year’s End
Ruby Pipeline, which ramped up late last month, is the third of five major pipeline projects El Paso Corp. will complete this year as it prepares to spin off its exploration and production (E&P) business, CEO Doug Foshee told financial analysts on Thursday.
Most Points See Further Minor Softening
The Northeast rejoined the overall market in recording mostly moderate losses Tuesday. Heat levels across most of the southern third of the U.S. are remaining somewhat onerous, but highs in the 80s or less continue to dampen cooling load.
Petrohawk Takes Wing on $12.1B BHP Billiton Offer
Australia’s BHP Billiton Ltd. has offered to buy shale patch pioneer Petrohawk Energy Corp. for $12.1 billion in a deal that would more than double unit BHP Billiton Petroleum’s resource base and grow proved reserves by about 30%, it said. Petrohawk shares took flight on the news as investors also delivered uplift to a flock of the company’s peers.
Progress Energy Sells Montney Stake to Malaysia’s Petronas
Calgary-based Progress Energy Resources Corp.’s chief executive said Thursday the company has found a “critical” partner to help market its natural gas in the Montney Shale of British Columbia after securing Malaysia’s national oil company Petronas (Petroliam Nasional Berhad) in a joint venture (JV) valued at about C$1.07 billion.
Progress Energy, Malaysia’s Petronas to Partner in British Columbia
Calgary-based Progress Energy Resources Corp. on Thursday agreed to sell a half interest in some Montney Shale properties in British Columbia to Malaysia’s national oil company Petronas (Petroliam Nasional Berhad) for C$1.07 billion. Opportunities to develop liquefied natural gas (LNG) export capacity from the province also are on the table.
Study Finds No Air Emissions Risks in North Central Pennsylvania
In its third regional report over the past year, the Pennsylvania Department of Environmental Protection (DEP) found compounds of natural gas constituents near natural gas operations in Bradford, Lycoming and Tioga counties, but none at any level that would trigger health issues.