Marcellus

The abundance of market-area gas that has crushed basis differentials and flattened seasonal spreads has bedeviled Boardwalk Pipeline Partners LP for several quarters now. But on Monday investors got pinched hard when the partnership cut its distribution by 81% and the price of its units plunged 46%.

There hasn’t been much to see by Pennsylvania oil and gas producers, who have adopted a “wait and see” approach to the Pennsylvania Supreme Court’s decision on Act 13 returning zoning authority to local entities, according to the head of the Marcellus Shale Coalition (MSC).

An Antero Resources Corp. unit on Friday filed a preliminary prospectus to create a separate partnership to hold substantially all of the Appalachian midstream business.

Consol Energy Inc. added 1.63 Tcfe to its proved reserves through extensions and discoveries in 2013, which the company said on Thursday marks the fifth consecutive year that drillbit finding and development costs were less than 50 cents per Mcfe.

GreenHunter Water LLC’s $1.7 million water treatment, recycling and condensate handling logistics terminal in Wheeling, WV, remains in limbo nearly one year after the company announced the project.

The days of freely spending money at Chesapeake Energy Corp. are through as capital discipline takes over from wheeling and dealing, CEO Doug Lawler said Thursday.

Pennsylvania Gov. Tom Corbett is hoping to generate $75 million in extra revenue and additional oil and gas royalties for the state’s general fund by lifting a more than three-year ban on drilling in state-owned forests and allowing exploration and development for the first time ever in state-owned parks.

Heavy flooding in Colorado late last year did little to impact fourth quarter production for Noble Energy Inc.’s operations in the Denver-Julesberg (DJ) Basin, while volumes were driven higher by the Marcellus Shale during a quarter when the company spent heavily on onshore exploration and transportation costs.

Rex Energy Corp.’s proved reserves increased 37% to 849.8 Bcfe at the end of 2013, mostly due to its Marcellus Shale operations in central and western Pennsylvania, the company said.