WPX Energy has achieved its second exploratory success of the year, this time from the Mancos Gallup Sandstone formation in the oil window of Northwest New Mexico’s San Juan Basin, company management said during an earnings conference call.
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The Heinz Endowments — a Pittsburgh-based philanthropic organization that has given millions to both supporters and opponents of hydraulic fracturing (fracking) — has caused a stir with its abrupt dismissal of its environmental program director, and indications it will be going in new directions.
Southwestern Energy Co. Marcellus Shale production during the second quarter was more than triple the year-ago level, and the company has been taking steps to get its gas out of the transportation capacity-constrained play. Meanwhile, production from its Fayetteville Shale activities edged up slightly.
Natural gas traders haven’t been able to figure out where prices consistently are headed, but one thing is becoming clearer: output has remained flat for close to a year. And coal generators have a lot of power in determining prices, according to an analysis by Stephen Smith Energy Associates.
Thirteen days after Pennsylvania Gov. Tom Corbett signed a controversial drilling bill into law, the debate over how it will affect Marcellus Shale development took a new turn when EQT Corp. filed a lawsuit against 69 landowners and a golf course in Allegheny County, PA.
The number of Marcellus Shale natural gas wells waiting on infrastructure provided by Access Midstream Partners LP has fallen by more than half since the end of 2012, CEO J. Mike Stice said Wednesday.
Demand between now and 2015 will prop up natural gas prices, even with a backlog of drilled wells awaiting connection, and from 2016 to 2018 a “dramatic structural increase” in demand could outpace supply additions and send gas prices to as high as $6.00/MMBtu, BNP Paribas’ Teri Viswanath, director of commodity strategy, said Friday.
Halcon Resources Corp. said an exploratory well targeting the Utica Shale has been producing more than 2,000 boe/d. The company said it plans to spend "significant time" in the play, where it has the acreage to drill up to 500 gross wells.