Totaled

Ultra Petroleum Corp. said that while it produced record volumes during 1Q2012 and was optimistic about its plans to target oil shale in the Niobrara, it would follow the example of its joint venture (JV) partners in the Marcellus and cut capital expenditures (capex) for the rest of the year.

There are billions of dollars worth of assets on the market and “plenty of money” available to Dallas-based Exco Resources Inc. as it pursues several potential acquisitions in the gas market, Exco Resources Inc. CEO Doug Miller said during a conference call with analysts Wednesday.

Continuing high natural gas production levels driving prices to the sub-$2 level raise concerns of an eventual production bust that could result in higher prices for producers, according to a market report Thursday by FERC’s Office of Enforcement (OE).

Environmental regulators in British Columbia (BC) have approved a request by Pacific Trail Pipelines LP (PTP) for an expansion to the Kitimat to Summit Lake (KSL) Looping Project, a proposed pipeline to transport natural gas from the Horn River Basin in Western Canada to the Pacific coast.

Proceeds from a natural gas and oil lease sale in New Mexico in February totaled almost $12 million and covered more than 7,000 acres, the New Mexico State Land Office reported Tuesday.

This year is the first in a multi-year period of growth for Noble Energy Inc. as the company realizes the payoff from “multiple years of exploration success,” CEO Charles Davidson told financial analysts Thursday during an earnings conference call. However, dry gas production from the Marcellus Shale is not part of the windfall, at least not for a while.

Just days after it announced that it would suspend drilling in the Huron Shale, EQT Corp. said Thursday that its 2011 earnings totaled $479.8 million and annual production increased more than 44% from a year ago, to 194.4 Bcfe.

Just days after it announced that it would suspend drilling in the Huron Shale, EQT Corp. said Thursday that its 2011 earnings totaled $479.8 million and annual production increased more than 44% from a year ago, to 194.4 Bcfe.

Exploration in North America’s onshore remains in its earliest stages because producers are eyeing “tens of thousands” of locations for future drilling, Baker Hughes Inc. CEO Martin Craighead said Tuesday.