Newfield Lifts 2012 Output Forecast — Again — on Oil, Liquids Growth

For the second time this year, Newfield Exploration Co. raised its full-year production forecast based on rising output from key U.S. onshore oil and natural gas liquids (NGL) plays.

July 20, 2012

Industry Brief

Oklahoma City-based GMX Resources Inc. has hired Global Hunter Securities to help it sell a portion of the company’s Cotton Valley Sand liquids-rich natural gas properties in East Texas. A transaction is expected during the third quarter, GMX said. The company’s natural gas resources are in the East Texas Basin, in the Haynesville/Bossier shale and the Cotton Valley Sand Formation, where the majority of its acreage is contiguous, with infrastructure in place and substantially all held by production, GMX said. In early 2011 GMX branched out from its Haynesville/Bossier properties and acquired about 67,724 net acres within the core horizontal oil development areas of the Bakken/Sanish-Three Forks Formation in the Williston Basin and the Niobrara Formation in the Denver-Julesburg Basin (see Shale Daily, Feb. 2, 2011).

July 19, 2012

North Dakota’s Bakken Shale Delivering — and Then Some

North Dakota’s oil patch accounted for less than 1% of total U.S. crude oil production three years ago, but today the state is pumping close to 6% of total crude output, thanks to the formidable Bakken-Three Forks shale region, the state’s Department of Mineral Resources (DMR) is reporting.

January 5, 2011

Bison to Provide New Northern Outlet for Powder River Gas

Bison Pipeline LLC (Bison) has filed an application at FERC to build a major natural gas pipeline that would provide a new northbound route out of the Rocky Mountains to Midwest markets.

May 1, 2009

TX Producer Completes Williston Basin Acquisition from Anadarko

Encore Acquisition announced that it has completed the acquisition of oil and natural gas properties in the Williston Basin from subsidiaries of Anadarko Petroleum Corp. for $410 million.

April 13, 2007

Marathon Adds 200,000 Acres in Bakken Shale Play

Looking to bolster its position in the Williston Basin, Marathon Oil Corp. said Tuesday that it completed a series of land acquisitions totaling almost 200,000 leasehold acres in the Bakken Shale play in North Dakota and eastern Montana.

April 26, 2006
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