Shale Daily

Natural gas production from unconventional sources in Pennsylvania hit a record 2.04 Tcf in 2012, as the state’s Marcellus/Utica shale gas for the first time edged ahead of the granddaddy Barnett Shale in Texas.

ConocoPhillips CEO Ryan Lance on Tuesday called on his colleagues to make the case for “smart” regulations and government collaboration to ensure the shale revolution is not suppressed by uninformed critics.

Enbridge Bakken Pipeline Co. Inc. has completed and placed in service its 77-mile Bakken Pipeline Project Canada, which connects to the Enbridge Pipelines Inc. (EPI) Mainline and carries crude oil from the Bakken Shale to North American refinery markets, Enbridge Energy Partners LP (EEP) and Enbridge Income Fund said Monday.

Hess Corp., which is facing a shareholder revolt for a perceived lack of focus and crony-heavy board, on Monday said it would become a pure-play exploration and production (E&P) company. The plan involves fully exiting the downstream business, selling Bakken Shale midstream, and bringing aboard six new independent directors.

New York Gov. Andrew Cuomo was reportedly considering a plan to allow 10 to 40 horizontal test wells on a trial basis in the state’s Southern Tier, but changed his mind after discussing high-volume hydraulic fracturing (HVHF) with Robert F. Kennedy Jr., his former brother-in-law and an avid environmentalist.

Unlike many producers today, Vanguard Natural Resources LLC is not necessarily focused on oil and natural gas liquids (NGL)-rich acquisitions. The company has done recent deals for both liquids and dry gas assets, instead focusing on margin and how the properties fit into its structure, CEO Scott Smith said Monday.

SandRidge Energy Inc.’s transition from a natural gas producer to an oil explorer appears to be paying off, with the company’s Mississippian Lime operations experiencing success and its bottom line improving, but the market seems unconvinced.

The U.S. State Department on Friday released a draft supplemental environmental impact statement (DSEIS) on the proposed northern portion of TransCanada Corp.’s controversial Keystone XL oil pipeline from Western Canada to Cushing, OK, drawing strong reactions from supporters and opponents alike.

Aurora Oil & Gas Ltd. is buying a 100% operated working interest in 2,700 net acres in South Texas in the liquids-rich area of the Eagle Ford Shale for $117.5 million.