Shale Daily

Shares of Denver-based Forest Oil Corp. lost nearly 38% of their value Wednesday after the company said it was deferring drilling in the Eagle Ford Shale while it mulls 3D seismic data and evaluates recent well completion designs due to poor well performance. Capital is to be redirected from the South Texas play to liquids-rich opportunities in the Ark-La-Tex.

Carrizo Oil & Gas Inc. said 2013 marked the end of its transition from a company focused on gas to one narrowly focused on oil production.

An ancient geologic play is drawing new prospectors saddled with state-of-the-art technology into the Anadarko Basin of Oklahoma, where an Aubrey McClendon affiliate this week nabbed about 120,000 net acres and 6,000 net boe/d in a combination stacked play of the Woodford Shale/Mississippian Lime.

Methane (CH4) emissions from natural gas systems in the United States totaled 127.1 million metric tons of carbon dioxide (CO2) equivalent (COe) in 2012, a 2.4% decrease compared with 130.3 million metric tons in 2011 and a 16.9% decrease compared with 1990 emissions, according to the U.S. Environmental Protection Agency (EPA).

In Pennsylvania lines of tubing, trucks, overturned dirt and newly-dug deep trenches along rural stretches of land are a common sight and one that’s expected to continue as the midstream buildout to carry natural gas away from Marcellus production sites is far from over.

Executives at EOG Resources Inc. said 2013 was the company’s “best year on record,” with the Eagle Ford Shale driving a 40% year-over-year (y/y) increase in total crude oil and condensate production and overall production climbing more than 9%.

Rosetta Resources Inc. entered the Permian Basin almost a year ago, and growing production there and from its substantial Eagle Ford Shale holdings lifted the company’s fourth quarter production to a new record.

In one sentence the Pennsylvania Supreme Court has denied the state’s request to reconsider a landmark ruling that significantly weakened centralized oil and gas regulation and returned to municipalities their ability to change or enforce local zoning laws.

Chevron Appalachia LLC has temporarily ceased operations at seven wells across Pennsylvania over concerns about wellhead configurations and their ability to handle high pressures after a fatal explosion and fire at one of the company’s sites in Greene County, PA on Feb. 11.