E&P

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.

Devon Energy Corp. is taking $200 million for a package of Mississippian Lime/Woodford Shale assets in a sale to White Star Petroleum LLC, the newly renamed American Energy-Woodford LLC business founded by the late Aubrey McClendon.

Devon Energy Corp. is taking $200 million for a package of Mississippian Lime/Woodford Shale assets in a sale to White Star Petroleum LLC, the newly renamed American Energy-Woodford LLC business founded by the late Aubrey McClendon.

The Pittsburgh-based Center for Sustainable Shale Development (CSSD) said Monday that it has issued its fourth certification to EQT Corp., confirming that the company’s Appalachian Basin operations are in compliance with its 15performance standards for oil and natural gas development in the region.

The failure to reach an agreement to freeze global oil production by the Middle Eastern-led oil cartel may play to the market fundamentals, but it also could lead to more U.S. bankruptcies as oil prices continue to decline, industry experts said Monday.

The Pittsburgh-based Center for Sustainable Shale Development (CSSD) said Monday that it has issued its fourth certification to EQT Corp., confirming that the company’s Appalachian Basin operations are in compliance with its 15performance standards for oil and natural gas development in the region.

Seventy Seven Energy Inc., the onshore oilfield services business spun off from Chesapeake Energy Corp., said Tuesday it plans to restructure under a prepackaged voluntary bankruptcy protection plan to be filed in May after reaching agreement with lenders.