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The transition to U.S. oil targets by the exploration and production (E&P) industry now is complete, with operators more able to concentrate on drilling efficiencies and the higher capital outlays required, according to Canaccord Genuity.

With the price of gold now down nearly 30% from its record September 2011 high of $1,920.30/oz to around $1,377, analysts looking for a commodity to be bullish about have turned their focus to natural gas as a new commodity “safe haven,” thanks to the shale revolution.

North American oilfield services activity in the first three months of this year has been less promising than expected, according to Schlumberger Ltd. CEO Paal Kibsgaard.

With a recently signed joint venture agreement targeting the Wolfcamp Shale in hand, Pioneer Natural Resources Co. this year plans to step up horizontal drilling there. In the Eagle Ford, longer laterals and more white sand proppant instead of ceramic are on the agenda.

The Colorado Oil and Gas Conservation Commission (COGCC) has drafted proposed rules for sampling and monitoring groundwater before and after new wells are drilled, as well as changes to setbacks, which formalizes some procedures that the industry had begun voluntarily last year (see Shale Daily, Aug. 4, 2011).

The Federal Reserve Board (FRB) said activity in the energy industry was a mixed bag and mentioned shale only once — but in a positive light — in the latest edition of the “Beige Book,” a report published eight times a year with data provided by the 12 Federal Reserve Districts.

Exploration and production (E&P) companies have cut their capital spending and are hedging their bets going into 2013, according to a review of 3Q2012 by energy analysts.

Exploration and production (E&P) companies have cut their capital spending and are hedging their bets going into 2013, according to a review of 3Q2012 by energy analysts.

The Colorado Oil and Gas Conservation Commission (COGCC) has launched a color-coded interactive map tool that allows the public to view water quality data from more than 450 oil and natural gas drilling sites in the state.