Shale Daily

The North Dakota legislature is considering revising the long-standing formula used to distribute oil/natural gas tax revenues between state and local government. The issue is expected to get considerable debate before the current legislative session ends April 30.

Magnum Hunter Resources Corp. missed its 2014 exit rate by a long shot before recovering with a series of shut-in wells that it turned inline this quarter to grow current volumes 103% above its year-end production.

Tallgrass Energy Partners LP said Monday that FERC has approved its Zone 3 East-to-West Project that would modify the Rockies Express Pipeline (REX) to send an additional 1.2 Bcf/d of Appalachian natural gas to Midwest markets.

EOG Resources is sitting on a 15-year inventory of potential drilling sites in the Eagle Ford, Bakken and Delaware Basin plays and has plans to acquire more prime drilling locations, EOG CEO Bill Thomas said at the Credit Suisse annual Energy Summit in Vail, CO.

Gulfport Energy Corp. on Thursday reported triple-digit production growth in 2014 and said it would slash capital spending this year by 40% from last year’s level.

Activist and environmental groups petitioned California Gov. Jerry Brown Thursday to impose a moratorium on hydraulic fracturing (fracking), citing action taken by New York Gov. Andrew Cuomo as an example.

The two organizations that jointly run FracFocus.org, the national registry that provides the public with a list of chemicals used in hydraulic fracturing (fracking), said several improvements will be made to the system this year.

Antero Resources Corp. plans to push ahead with more than a dozen drilling rigs in the Appalachian Basin this year, but while it plans to grow year-over-year production by 40% it will cut spending and delay the completion of about 50 wells until 2016.

The Delaware River Basin Commission (DRBC) unveiled a proposed “One Process/One Permit” (OPOP) program on Friday, designed to promote efficiency and cooperation between the commission and the regulatory agencies of its four member states.