E&P

During a week in which only eight land-based U.S. drilling rigs left play, Texas and the Permian Basin saw the majority of departures, losing seven and five rigs each, respectively.

During a week in which only eight land-based U.S. drilling rigs left play, Texas and the Permian Basin saw the majority of departures, losing seven and five rigs each, respectively.

Southwestern Energy Co., one of the nation’s largest natural gas producers, spent the first quarter living within its means as it focused sharply on positioning itself for a commodities rebound and delivering on a plan it highlighted earlier this year to reduce debt and maximize efficiency.

During a week in which only eight land-based U.S. drilling rigs left play, Texas and the Permian Basin saw the majority of departures, losing seven and five rigs each, respectively.

Southwestern Energy Co., one of the nation’s largest natural gas producers, spent the first quarter living within its means as it focused sharply on positioning itself for a commodities rebound and delivering on a plan it highlighted earlier this year to reduce debt and maximize efficiency.

A federal court has approved Magnum Hunter Resources Corp.’s reorganization plan, a critical step that brings it closer to emerging from Chapter 11 bankruptcy.

In an effort to reinforce the response to seismic activity in the state, Oklahoma Gov. Mary Fallin signed a bill clarifying that state regulators — specifically, the Oklahoma Corporation Commission (OCC) — has the authority to declare an emergency in matters pertaining to the oil and natural gas industry, and to take appropriate action when an emergency occurs.

As first quarter results are unveiled, expect to hear more hardship from the oilfield services (OFS) sector, energy analysts said.

In an effort to reinforce the response to seismic activity in the state, Oklahoma Gov. Mary Fallin signed a bill clarifying that state regulators — specifically, the Oklahoma Corporation Commission (OCC) — has the authority to declare an emergency in matters pertaining to the oil and natural gas industry, and to take appropriate action when an emergency occurs.