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Report Sees Hurdles Ahead for Pennsylvania NGVs, Despite Strength of Marcellus

Even with the huge Marcellus Shale, the high cost of natural gas vehicles and a lack of infrastructure to fuel the vehicles may deter growth in the state, according to the Allegheny Conference on Community Development.

May 10, 2012

Oil In the Ascent at Carrizo Oil & Gas

Last year saw a transformation at Houston-based Carrizo Oil & Gas Inc. as the company shifted from deriving its revenue mostly from natural gas to an equal reliance upon revenue from oil production, CEO Chip Johnson told financial analysts Tuesday. “We expect this trend to continue for the entire year of 2012 as we become increasingly weighted toward oil production,” he said.

March 1, 2012

Low Gas Prices Becoming a Wyoming Budget Buster

Wyoming is facing a potential budget shortfall exceeding $100 million due to rapidly declining natural gas prices in a state highly dependent upon the shale boom and its related economic drivers, Gov. Matt Mead said Tuesday in Cheyenne.

February 8, 2012

Industry Briefs

Magnum Hunter Resources Corp. is raising its production guidance for this year and next year based upon better-than-expected well results, according to the Houston-based company. Magnum Hunter is currently producing 12,500 boe/d, compared to its 10,000 boe/d guidance for the year. The company expects to close out 2012 producing 14,500 boe/d, up from its previous projection of 13,000 boe/d. Magnum Hunter operates in the Marcellus, Eagle Ford and Bakken shales. “We are very fortunate to have three resource plays within our portfolio that are now ‘hitting on all cylinders’ and providing an increase in our overall production levels well above expectations,” said CEO Gary C. Evans. “This is especially rewarding when our management team has been able to achieve these milestones while also staying within our original capital budget plan.”

December 28, 2011

Interior, States Agree: No ‘Grousing’

Wyoming Gov. Matt Mead and U.S. Interior Secretary Ken Salazar Friday announced an agreed upon effort to develop and implement a land conservation strategy aimed at protecting the sage grouse and future opportunities for a robust economy throughout the West.

December 12, 2011

Interior, States Agree on Land Strategy: No ‘Grousing’

Wyoming Gov. Matt Mead and U.S. Interior Secretary Ken Salazar Friday announced an agreed upon effort to develop and implement a land conservation strategy aimed at protecting the sage grouse and future opportunities for a robust economy throughout the West.

December 12, 2011

Range: $1.47B in Capital Spending Will Make 2012 Its ‘Breakout’ Year

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.

October 28, 2011

Pennsylvania Lawmakers: Impact Should Determine Well Fee

A group of Pennsylvania state lawmakers is proposing an impact fee on Marcellus Shale wells based upon the actual damage caused by natural gas operations in the state.

September 30, 2011

Support Seems Illusory, But Virtually All Points Up

Somewhat improbably, the cash market built upon Friday’s modest gains, which came amidst mixed price moves, with a fairly strong advance across the board Monday. The return of industrial load from its weekend dip was a minor bullish factor, but otherwise reasons for Monday’s upticks were difficult to discern.

September 27, 2011

FERC OKs Marcellus Pipeline Expansions

FERC Thursday approved Tennessee Gas Pipeline’s and Dominion Transmission Inc.’s proposed system expansions to deliver gas from the Marcellus Shale/Appalachian Basin to existing markets in New England and to the Niagara Falls area of New York.

September 16, 2011