E&P

A pair of independent Calgary companies with operations that straddle the border between Western Canada and the United States are combining in a friendly takeover by Crescent Point Energy Corp. of Legacy Oil & Gas Inc.

A colossal natural endowment of northern shale oil — 191 billion bbl — awaits Canadian industry expansion into the central valley of the Mackenzie River, according to government earth scientists.

Magnum Hunter Resources Corp. on Tuesday announced a deal to sell 5,210 net acres in Tyler County, WV, to an undisclosed operator, checking-off one item on a long list it has been working on to generate more cash and jump-start its idled operations in the Appalachian Basin.

The city of Denton, TX, has thrown in the towel in its fight to keep hydraulic fracturing (fracking) out of the city limits after Texas lawmakers enacted legislation to block local bans on fracking in the Lone Star state.

Thanks to a strong El Nino event that is expected to sweep the United States this summer and ward off significant heat waves in key population centers, the demand for air conditioning is expected to be on the low side, which in turn will keep pressure off of natural gas supplies, according to Weather Services International (WSI) and ESAI Power LLC.

A colossal natural endowment of northern shale oil — 191 billion bbl — awaits Canadian industry expansion into the central valley of the Mackenzie River, according to government earth scientists.

Ring Energy Inc., an independent oil and gas exploration and production (E&P) company based in Midland, TX, has agreed to purchase 14,000 net acres in the Delaware Basin, plus an undisclosed number of producing wells, in a deal valued at $75 million, the company said.

Magnum Hunter Resources Corp. on Tuesday announced a deal to sell 5,210 net acres in Tyler County, WV, to an undisclosed operator, checking-off one item on a long list it has been working on to generate more cash and jump-start its idled operations in the Appalachian Basin.

Twin Eagle Sand Logistics LLC, a subsidiary of Twin Eagle Management LLC, has landed its first 130-car frack sand unit train at an industrial rail terminal in Texas at the edge of the Eagle Ford Shale.