Waiting

Driven by the Bakken Shale play, North Dakota’s oil and natural gas production continued to soar in May, but well completion rates were slowing amid a continued boom for drilling new wells, according to the latest monthly report from the state’s Department of Mineral Resources (DMR).

Carrizo Oil & Gas Inc. raised second quarter oil production guidance to 10,800-11,200 b/d from 9,600-10,000 b/d, increased its 2013 crude oil production growth target to 40% from 28% and raised its total 2013 production growth target to 10% from 6%, based largely on results in the Eagle Ford Shale.

No place in the entire world has better dry or wet gas potential than the Marcellus Shale, now “four years into a 50-year play,” but ensuring that there’s enough infrastructure for adequate takeaway will take some time, a top Williams executive said Tuesday.

Three storms in March failed to deter oil and natural gas operations in North Dakota, which set new all-time highs for the month, according to the latest statistics from the state Department of Mineral Resources (DMR).

A Maryland circuit court judge listened to lawyers for Dominion Resources Inc. and two environmental groups on Monday, the opening salvo in lawsuit over a proposed natural gas liquefaction facility, but ultimately decided to take the case under advisement.

A horizontal well targeting the Cotton Valley formation in northern Louisiana recently flowed at an initial production rate of 3,019 boe/d over a 24-hour period, according to privately held producer Indigo Minerals LLC.

Whether the Tuscaloosa Marine Shale turns out to be the kind of prospect that ranks among energy industry biggies is still a waiting game, one of the trend’s followers said last week.

Whether the Tuscaloosa Marine Shale turns out to be the kind of prospect that ranks among energy industry biggies is still a waiting game, one of the trend’s followers said Tuesday.

North American gas producers drowning in oversupply and low prices will be waiting a while before any liquefied natural gas (LNG) export tankers come to their rescue. And even then, whatever modest price support materializes could be overwhelmed by yet more supply growth, some energy analysts are saying.