E&P

Newfield Exploration Co. raised 2014 production guidance and capital spending, reflecting growing momentum company-wide, the company said Thursday. Second quarter production of 12.1 million boe beat the midpoint of previous guidance by about 1 million boe.

Florida-based CSX Corp. senior executives on Wednesday underscored the continuing growth in the amount of crude oil being shipped by rail and voiced concerns about proposed federal regulations that would drop average train speeds in response to a series of tank car accidents in the past 18 months (see Shale Daily, Aug. 22, 2013).

Reflecting a growing caution in the oil/natural gas sector to temblors, the Colorado Oil and Gas Conservation Commission (COGCC) has ordered changes in a wastewater injection site in Weld County, asserting that actions at the location are deemed to be potentially related to nearby low-level seismic activity.

A rich Alberta shale formation — the Duvernay, which is renowned for high concentrations of premium liquids — has been designated as a regulatory proving ground for a new fracking regime of accelerated drilling licenses, environmental permits and public consultation.

The head of the Pennsylvania Fish and Boat Commission (PFBC) said the agency needs $1 million to hire seven additional conservation officers in order to patrol waterways in the Marcellus Shale to look for oil and gas polluters.

Antero Resources Corp. said Friday it produced 891 MMcfe/d in the second quarter, a 94% year-over-year increase that set a company record and passed the milestone of 1 Bcfe/d of net production.

The North American land drilling market will move toward a general contractor model for oilfield services, a big reason that Schlumberger Ltd. has begun allying with other drilling services, CEO Paal Kibsgaard said Friday.

New ways to drill old basins in North America is piquing the interest of energy analysts, who will be looking for insight into capital spending plans through the rest of 2014, and whether more mergers and public offerings are coming during 2Q2014 earnings presentations.

Once considered a lynchpin for resolving the ongoing debate about local authority over oil/natural gas drilling activities, a special session of the Colorado legislature will not be called, Gov. John Hickenlooper said Wednesday, drawing comments from industry and political representatives involved in crafting a proposed bipartisan solution (see Daily GPI, June 27).