E&P

Although it will be another three weeks before Pioneer Natural Resources Co. holds its fourth quarter earnings conference call and announces a capital budget for 2015, analysts are already reading the tea leaves from a company executive and its joint venture (JV) partner in the Eagle Ford Shale over how both 4Q2014 and 2015 will shake out.

Range Resources Corp. has agreed to a $1.75 million settlement with the Pennsylvania Department of Environmental Protection (DEP) for failure to keep proper water withdrawal records and for exceeding the amount of water withdrawal allowed for its natural gas drilling under a state-approved plan.

Montana Gov. Steve Bullock on Monday declared a state of emergency in two counties along the Yellowstone River that were hit by a spill of up to 50,000 gallons of crude oil Saturday morning. State officials said there was no threat to public safety or health.

Halliburton Co. and Baker Hughes Inc. both beat market expectations in the final three months of 2014, but a sharp turnaround in North American business activity has clouded expectations for 2015, company CEOs said Tuesday.

Rex Energy Corp. exited 2014 producing 154.4 MMcfe/d, a 66% increase from the previous year that exceeded the high end of its guidance and came with gains in its core areas of western Pennsylvania and southeast Ohio, the company said Tuesday.

Democrat Tom Wolf, who was sworn-in as Pennsylvania’s 47th governor on Tuesday, said his administration would be focused on “jobs that pay, schools that teach and government that works.”

Hours before President Obama was to give his State of the Union address, Republicans in the U.S. Senate showed some willingness to work with Democrats on energy issues, after giving overwhelming support to a bipartisan amendment to the Keystone XL pipeline bill and agreeing to discuss six more amendments — three from each party.

Antero Resources Corp. exited 2014 with production averaging a little more than 1 Bcfe/d, exceeding the midpoint of its guidance and demonstrating that it is positioned to handle the downturn in commodity prices, at least through the first part of this year.

Calgary-based Gasfrac Energy Services Inc., a developer of waterless hydraulic fracturing technology, is seeking protection from creditors as it attempts a restructuring.