Newfield Exploration Co. is “right where we want to be toward execution of our 2013-2015 plan,” CEO Lee Boothby said Wednesday during an earnings conference call in which management talked of a “surge” in Eagle Ford Shale production and the rising prominence of the Cana-Woodford Shale in the company’s liquids-focused portfolio.
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Rangeland Energy is buying land near Loving, NM, where it plans to develop a large terminal facility to handle crude oil, frack sand, pipe and other products; plans for a crude oil pipeline to the terminal also are in the works, the company said Monday.
Rosetta Resources Inc. has agreed to pay Comstock Resources Inc. $768 million for a package of Permian Basin oil and liquids-rich assets, giving it entry into the West Texas basin.
The Marcellus Shale’s natural gas volumes are continuing to flow higher, but significant revisions in growth expectations by pipeline giant Williams Partners Ltd. (WPZ) has led one analyst to question whether the “excellent adventure” to establish a major natural gas hub is turning into a “bogus journey.”
With exploration and production (E&P) activity heating up along the eastern border of Montana as an extension of the North Dakota oil and natural gas boom, state lawmakers in the Big Sky state have proposed about a half-dozen new laws to deal with the impact on the local communities in the region.
By building positions in the Eagle Ford Shale and the Permian Basin, Comstock Resources Inc. has been Texas two-stepping away from nearly all dry gas production to oil, but the dance hasn’t always been graceful, as fourth quarter results show.
Unlike natural gas, oil can be carried in a bucket — or in a rail car — as is increasingly the case in the Bakken Shale, for instance, where the drill bit has gotten ahead of the pipeline, way ahead of the pipeline, in offering oil producers a route to market.
Texas lawmakers on Wednesday gained some insight into where an increasing amount of money in the Lone Star State comes from: the Eagle Ford Shale oil and gas patch. The state is producing more oil than it has in the last 25 years, thanks in large part to the unconventional play in South Texas.
The Ohio Supreme Court ruled on Wednesday that the state Oil and Gas Commission does not have jurisdiction to hear an appeal of oil or gas well permits issued by the chief of the Division of Mineral Resources, a branch of the Ohio Department of Natural Resources (ODNR).