E&P

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.

The natural gas market is rapidly evolving, bringing with it a more complex set of variables for traditional buyers like local distribution companies (LDC) and industrial users to consider. That seemed to be the consensus opinion of the Gas Buyers’ Panel at last week’s LDC Gas Forums Southeast, held in Atlanta.

Houston-based Hess Corp. earlier this month sent 175,000 bbl of Bakken Shale crude to Rotterdam, in the Netherlands, a senior Hess spokesman told news media.

The natural gas market is rapidly evolving, bringing with it a more complex set of variables for traditional buyers like local distribution companies (LDC) and industrial users to consider. That seemed to be the consensus opinion of the Gas Buyers’ Panel at last week’s LDC Gas Forums Southeast, held in Atlanta.

Expectations that maintenance projects that were deferred in the U.S. onshore last year would resume early in 2016 haven’t panned out as expected, Basic Energy Services Inc. CEO Roe Patterson said Thursday. However, production-related activities “appeared to have stabilized” in March, and there’s optimism, however slight, that work is improving steadily.