In an attempt to preserve liquidity and maintain the momentum it has achieved since going public in June, Appalachian pure-play Eclipse Resources Corp. has cut its rig count in the Utica Shale, plans to further reduce capital spending this year and is hoping to attract more capital with a joint venture (JV) partner.
E&P
Articles from E&P
Colorado Oil & Gas Local Issues Task Force Leaves Unfinished Business
In a minority report, the recently concluded 21-member Colorado statewide task force looking at local control issues for oil and natural gas activities has left a wide array of unfinished business captured in 24 recommendations that failed to receive two-thirds votes. They are part of the final report, but not part of the nine recommendations being passed on for implementation.
March 5, 2015
WPX Cutting 8% of Workforce, Moving Most Staff Back to Tulsa
WPX Energy Inc. is cutting its workforce by 8% and moving most of its regional office staff in Denver to the Tulsa headquarters.
March 4, 2015
Houston’s Cal Dive Seeks Chapter 11 Protection
Houston-based Cal Dive International Inc., which provides marine contracting services in the Gulf of Mexico (GOM) and northeastern United States, filed for U.S. bankruptcy protection Tuesday.
March 4, 2015
California Beach Town Rejects Oil Drilling Plan
By a 3-to-1 margin, residents in the Los Angeles suburb of Hermosa Beach on Tuesday rejected a proposed plan by E&B Natural Resources to drill up to 34 wells from a 1.3-acre plot of city-owned land near recreational beaches.
March 4, 2015
Alaska Lawmakers: Stick to North Slope NatGas Plan A
When it comes to commercializing North Slope natural gas, Alaska lawmakers want the state’s governor to stick with Plan A and not muddy the waters by promoting an alternative project.
March 4, 2015
Algonquin Incremental Market Project Gets FERC Green Light
Spectra Energy Partners LP’s Algonquin Gas Transmission LLC has received FERC authorization for its Algonquin Incremental Market (AIM) Project to carry 342,000 Dth/d of Marcellus/Utica shale natural gas from Ramapo, NY, to citygates in Connecticut, Rhode Island and Massachusetts.
March 4, 2015
‘Settle In for Awhile’ on Low Oil Prices, Says ExxonMobil’s Tillerson
ExxonMobil Corp. CEO Rex Tillerson doesn’t see oil prices strengthening anytime soon. Natural gas prices swooned on North America’s surplus, and in many ways, oil is taking the same route, he said Wednesday.
March 4, 2015
Cleveland Fed Finds Mixed Economic Benefits of Appalachian NatGas
The Federal Reserve Bank of Cleveland said soaring natural gas production in the Appalachian Basin from 2009-2013 and the corresponding drop in prices have provided notable economic benefits for the region.
March 4, 2015
As Pennsylvania Budget Negotiations Near, Severance Tax Divide Widens
In his first address to a joint session of the Pennsylvania General Assembly, Democratic Gov. Tom Wolf outlined a 2015-2016 state budget replete with tax reform that leans, in part, on the natural gas industry to plug a $2.3 billion budget deficit.
March 3, 2015
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