E&P

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.

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.

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.

The decline in unconventional oil and natural gas drilling in shale fields across the country has cut into the benefits for the nation's leading railroads, with everything from crude-by-rail to oilfield supply shipments curtailed through the first quarter of this year.

Houston’s Vanguard Natural Resources LLC is adding to its arsenal of onshore prospects after agreeing to buy cross-town producer Eagle Rock Energy Partners LP, whose natural gas-weighted operations are concentrated in the Midcontinent, Permian and East Texas basins.

Regulators in North Carolina warned that environmental groups opposed to shale development have tacked their hopes to an unusual lawsuit the governor filed against several key lawmakers in the General Assembly. Meanwhile, a judge has issued a temporary injunction against the state Mining and Energy Commission (MEC) from accepting or processing any applications to drill for oil and natural gas until the North Carolina Supreme Court settles the suit.

Tough times are continuing for oil/gas producers and related companies as their finances feel the pinch from fallen oil prices.

The U.S. Fish and Wildlife Service (FWS) intends to strengthen the Migratory Bird Treaty Act to address threats from natural gas flares, uncovered oil waste pits and unprotected power lines and communication towers, the agency said Friday.

The pace of the U.S. rig count decline moderated significantly in the latest tally, which was released Friday by Baker Hughes Inc for the week ending May 22. While offshore saw a decline, the land rig count came back by three in the United States.