Eagle Ford Shale

The use of natural gas for power generation will continue to expand, the industrial sector of the U.S. economy will see a modest revival, and the demand for natural gas vehicles (NGV) will continue to rise through 2035, according to analysts at Navigant Consulting Inc.

Comstock Resources Inc. plans to spend $450 million on drilling and completions next year in its core South Texas Eagle Ford play, as well as it’s emerging East Texas Eagle Ford and in the Tuscaloosa Marine Shale (TMS). All drill bits will be pointed at oil with no gas wells planned, the company said.

Natural gas is back. At least it is in Texas, according to the latest barometer of oil and gas activity in the state, which shows that higher wellhead prices have boosted the value of Lone Star state gas production this year through October by 36.5%.

Penn Virginia Corp. (PVA) is selling substantially all of its Eagle Ford Shale natural gas midstream assets to a newly-formed affiliate of ArcLight Capital Partners LLC for gross cash proceeds of $100 million.

Two energy firms and their affiliates have asked a Texas appeals court to reverse a lower court ruling in an aiding-and-abetting case over assets in the Eagle Ford Shale that ultimately awarded Longview Energy Co. about $595 million.

BreitBurn Energy Partners LP (BBEP) is buying oil and gas properties in the Permian Basin in Texas from CrownRock LP for approximately $282 million.

BHP Billiton’s U.S. shale business will grow liquids production to 200,000 b/d in fiscal 2017, based on planned annual investment of $4 billion, while the company’s total onshore U.S. production reaches 500,000 boe/d over the same period, Tim Cutt, president of the BHP’s petroleum and potash business said in Houston Tuesday.

Two independent producers unveiled their capital expenditure budgets this week and gave an early update on production guidance for 2014 in basins stretching from Texas to the Rocky Mountains.

Counties in the Eagle Ford Shale region of South Texas were four of the state’s top five oil-producing counties during September, while North Texas counties were four of the top five natural gas producers, according to the Railroad Commission of Texas (RRC).