Unconventional News

Keystone XL Pipeline depicted in info-graphic

Tue, 15 May 2012 20:28:00 GMT

Visual Capitalist recently published an info-graphic on the Keystone XL Pipeline. Although it’s pretty basic, it visually describes the situation very well.

PDC Energy to acquire Core Wattenberg assets, accelerate Niobrara development

Mon, 14 May 2012 17:21:00 GMT

Denver, Colo.-based Petroleum Development Corp. today announced it has executed a definitive agreement to acquire Core Wattenberg assets that contain significant liquid-rich horizontal drilling opportunities from a private party for a purchase price of approximately $330.6 million. The effective date of the transaction is April 1, 2012 with closing scheduled for June 29, 2012.

Copano to expand processing capacity to meet Eagle Ford demand

Thu, 10 May 2012 16:42:00 GMT

In response to producer demand in the Eagle Ford shale play, Copano Energy, LLC announced today it will add 400,000 Mcf per day of cryogenic processing capacity at its Houston Central complex in Colorado County, Texas.

Ex-Im to finance $2.95B in US exports for Australia LNG project

Thu, 10 May 2012 15:52:00 GMT

The Export-Import Bank of the United States has authorized a $2.95 billion direct loan to support US exports to the Australia Pacific liquefied natural gas (LNG) project. The transaction is Ex-Im’s second-largest single-project financing in history and is also the Bank’s first LNG project in Australia.

CARBO to construct ceramics plant in Georgia

Fri, 04 May 2012 16:46:00 GMT

Houston-based CARBO Ceramics Inc. will begin construction on a manufacturing plant in Millen, Ga., by the end of the year. Operations could begin at the end of 2013.

Apache completes Cordillera Energy acquisition

Tue, 01 May 2012 17:34:00 GMT

Houston, Texas-based Apache Corp. today announced it has completed its acquisition of Cordillera Energy Partners III, LLC, a privately held company with operations and acreage across the Granite Wash, Tonkawa, Cleveland and Marmaton plays in western Oklahoma and the Texas Panhandle.

Bayardo senior VP of Continental Resources

Tue, 01 May 2012 16:32:00 GMT

Continental Resources, Inc. has appointed Jose A. Bayardo as senior vice president of business development. In this role, he will lead the company's investment, acquisition and divestiture teams.

Eagle Ford impact study results to be released

Mon, 30 Apr 2012 17:13:00 GMT

Results of the University of Texas at San Antonio’s Eagle Ford Shale Economic Impact Study will be presented on two dates in May.

Halcón Resources to acquire GeoResources for $1B

Fri, 27 Apr 2012 16:05:00 GMT

Halcón Resources Corp. and GeoResources, Inc. announced April 25 that they have entered into a definitive merger agreement in which GeoResources will merge into a wholly-owned subsidiary of Halcón Resources in a cash and stock transaction that values GeoResources at approximately $1 billion, based on the closing price of Halcón Resources common stock on April 24.

Kinder Morgan to purchase 50% interest in natural gas JV

Thu, 26 Apr 2012 19:51:00 GMT

Kinder Morgan Energy Partners, LP, announced April 25 that it has signed a definitive agreement with an investment vehicle affiliated with Kohlberg Kravis Roberts & Co. LP, whereby KMP will purchase from KKR its 50 percent interest in the joint venture that owns the Altamont gathering, processing and treating assets (Uinta Basin in Utah) and the Camino Real Gathering System (Eagle Ford shale in Texas) for $300 million in KMP common units.

Element Partners invests in Environmental Drilling Solutions

Thu, 26 Apr 2012 17:58:00 GMT

Element Partners, an energy and industrial technology-focused private equity fund, and CSL Capital Management, an energy-services private equity firm, announced April 23 that, along with North Sky Capital and key members of management, they have acquired Environmental Drilling Solutions.

Select Energy Services appoints new managers to Fluidity team

Thu, 26 Apr 2012 17:32:00 GMT

Select Energy Services, LLC, a water solutions and oilfield service company headquartered in Houston, Texas, announced April 25, the appointment of William H. Fronczak and Jeffrey A. Anderson as managers in the company’s Fluidity™ team.

Investor interest returns to Montney Shale play

Wed, 25 Apr 2012 16:58:00 GMT

Canada’s Montney Shale play is gaining huge attention due to its unconventional gas reserves, securing enormous investments as operators compete for valuable areas, a new report by GlobalData has found.

King brings upstream expertise to Latham & Watkins

Mon, 23 Apr 2012 17:46:00 GMT

Michael R. King has joined Latham & Watkins LLPas a partner in the Corporate Department of the Houston office.

Toyota Tsusho invests heavily in Alberta CBM play

Sat, 21 Apr 2012 20:11:00 GMT

Calgary-based Encana Corporation (TSX, NYSE: ECA) has reached an agreement with Toyota Tsusho Wheatland Inc., a subsidiary of Toyota Tsusho Corporation, that will see the Japanese company invest approximately C$602 million (US$608 million) to acquire a 32.5% royalty interest in natural gas production from a portion of Encana’s coalbed methane (CBM) resource play.

Magnum Hunter Resources to acquire Williston Basin properties

Wed, 18 Apr 2012 21:03:00 GMT

Magnum Hunter Resources Corp. announced today that its wholly-owned subsidiary, Bakken Hunter, LLC, has entered into a definitive purchase agreement to acquire certain Williston Basin oil and gas properties from an affiliate of Baytex Energy Corp. for $311 million in cash.

Capstone to supply Eagle Ford producers with 30 more microturbines

Tue, 17 Apr 2012 18:40:00 GMT

Capstone Turbine Corp. has received orders for 30 additional C65 microturbines from producers in the Eagle Ford shale play.

Aqua-Chem names two execs to finance, engineering posts

Tue, 17 Apr 2012 17:11:00 GMT

Knoxville, Tenn.-based Aqua-Chem, Inc. has named Thomas Gillcrist as CFO and Ron Shook as pharmaceutical applications engineer. They will report directly to David Gensterblum, president and CEO.

OFS Energy Fund recapitalizes Vision Oil Tools

Fri, 13 Apr 2012 23:27:00 GMT

On April 5, OFS Energy fund completed a majority recapitalization of Vision Oil Tools LLC, a Wyoming and North Dakota-based oilfield rental tool and fishing services provider.

OFS Energy Fund invests in Buckhorn Energy Services

Fri, 13 Apr 2012 20:44:00 GMT

Houston-based OFS Energy Fund II has completed a growth equity investment in Buckhorn Energy Services LLC, a recently formed provider of oilfield waste disposal in North Dakota.

Cantrell assumes Continental Resources' government, regulatory affairs

Thu, 12 Apr 2012 13:00:00 GMT

Energy industry leader Mike Cantrell has joined Continental Resources as vice president of government and regulatory affairs.

Housing shortage: 'Man camp' adds 100 beds in Eagle Ford

Tue, 10 Apr 2012 19:06:00 GMT

Oil services providers and field personnel working the Eagle Ford shale have a new place to lay their heads at night — and more — in Kenedy, Texas.

Texas RRC candidate to discuss opportunities

Tue, 10 Apr 2012 17:52:00 GMT

Texas Railroad Commission candidate Roland Sledge will discuss the economic opportunities afforded by hydraulic fracking, horizontal drilling and natural gas in Texas on Thursday, April 26, in Houston.

Terra Energy divesting Canadian assets

Tue, 10 Apr 2012 15:45:00 GMT

Terra Energy has engaged Macquarie Tristone and Scotiabank to seek proposals for divesting up to 100% of its share of assets of NorAm Energy Worx Inc.

Chesapeake monetizes assets in 3 plays

Mon, 09 Apr 2012 21:00:00 GMT

_On April 9 Oklahoma City-based Chesapeake Energy Corporation (NYSE:CHK) announced three oil and gas asset monetization transactions for total proceeds of approximately $2.6 billion in cash.

ONEOK Partners to build Bakken pipeline

Mon, 09 Apr 2012 16:58:00 GMT

Tulsa, Okla.-based ONEOK Partners, LP is entering the crude-oil transportation business with plans to invest $1.5 billion to $1.8 billion to build a 1,300-mile crude-oil pipeline from the Bakken Shale in the Williston Basin in North Dakota to the Cushing, Okla., crude-oil market hub.

Schlumberger opens new geoengineering lab in Houston

Thu, 05 Apr 2012 17:01:00 GMT

On April 5, Schlumberger officially inaugurated its new Houston Geoengineering Laboratory.

PetroChina discussing shale JV with Shell and Hess

Thu, 05 Apr 2012 16:19:00 GMT

PetroChina Co., which recently surpassed ExxonMobil as the world’s largest energy producer, is in talks with Royal Dutch Shell PLC and Hess Corp., about forming a joint venture to develop shale oil in the Santanghu Basin in northwestern Xinjiang province, according to a PetroChina subsidiary.

Heckmann prices $250M senior notes due 2018

Thu, 05 Apr 2012 16:03:00 GMT

Pittsburgh-based Heckmann Corporation said April 5 that it has priced its previously announced offering of $250 million in aggregate principal amount of 9.875% senior notes due 2018 to be sold in a private placement to qualified institutional buyers within the United States and to non-US persons outside of the United States.

Atlas Resources, Equal Energy partner to develop Oklahoma Mississippian oil play

Wed, 04 Apr 2012 19:07:00 GMT

Equal Energy Ltd. has agreed to sell 50% of its interest in approximately 14,500 net undeveloped acres prospective for Mississippian light oil to Atlas Resources Partners LP for total cash consideration of roughly US$18 million.

Apache raises $3B in debt to help fund Cordillera acquisition

Wed, 04 Apr 2012 18:36:00 GMT

Houston-based Apache Corp. priced $3 billion in aggregate principal amount of notes in a public offering to help fund its $2.85 billion purchase of Cordillera Energy Partners III LLC.

Cardinal Midstream brings third plant online in Woodford shale

Tue, 03 Apr 2012 20:06:00 GMT

Cardinal Midstream, LLC has brought its third cryogenic processing plant online in the Arkoma Woodford shale.

EGPI Firecreek, Cubo Energy to drill in Barnett Shale

Tue, 03 Apr 2012 19:24:00 GMT

Scottsdale, Ariz.-based EGPI Firecreek, Inc. announced a Letter of Intent to prepare and conduct drilling programs aimed at the Barnett Formation in West Central Texas with U.K.-based Cubo Energy, PLC.

Lower than expected oil, gas mix may shift Ohio Utica focus westward

Tue, 03 Apr 2012 18:37:00 GMT

Recent production data for Utica Shale wells drilled by Chesapeake Energy may be economic, but the lower than expected condensate/oil mix in the eastern Ohio wells may shift the industry focus westward, noted Global Hunter Securities.

IHS: Worldwide upstream oil, gas M&A unconventional resource spending hits record $75B

Mon, 02 Apr 2012 17:05:00 GMT

Fueled by national oil companies and international buyers making acquisitions in North American shale gas, shale oil and tight oil basins, global transactions involving unconventional oil and gas resources reached a record high $75 billion in 2011, reported IHS.

KKR grows natural gas footprint with third Barnett Shale acquisition

Mon, 02 Apr 2012 15:44:00 GMT

Expanding on recent acquisitions in various unconventional resource plays across the US, energy private equity firm Kohlberg Kravis Roberts & Co. LP (together with its affiliates, KKR) has agreed to acquire certain Barnett Shale and Arkoma Basin properties from WPX Energy for $306 million.

Encana seeking partnerships

Mon, 02 Apr 2012 15:34:00 GMT

Encana Corp. is executing its plan to leverage the exploration and development of certain of its oil and liquids-rich assets through partnership opportunities.

ZaZa Energy expands in the Texas Eaglebine, begins drilling

Thu, 29 Mar 2012 20:32:00 GMT

ZaZa Energy Corp. has expanded its position in the Eaglebine trend in eastern Texas to a nearly contiguous total holding of approximately 144,123 gross acres through a transaction with a Range Resources subsidiary.

Continental looks to enrich Bakken position with Wheatland acquisition

Wed, 28 Mar 2012 15:18:00 GMT

Continental Resources Inc. is looking to boost its position in the Bakken with the purchase of Enid, Oklahoma-based Wheatland Oil Inc. assets for $340 million.

Investors file lawsuit against CARBO Ceramics

Tue, 27 Mar 2012 21:39:00 GMT

A class-action lawsuit has been filed against Houston-based CARBO Ceramics (NYSE: CRR) on behalf of investors who bought the company’s stock between Oct. 27, 2011, and Jan. 26, 20-12.

BP bolsters US unconventional resources presence with Ohio Utica buy-in

Tue, 27 Mar 2012 16:55:00 GMT

BP (NYSE: BP) has entered the Utica Shale through an agreement to lease roughly 84,000 acres in Trumbull County, Ohio, the company said March 27.

IHS describes complexity of Bone Spring oil play

Mon, 26 Mar 2012 19:49:00 GMT

Surmont Energy completes $8.5M Alberta oilsands exploration program

Fri, 23 Mar 2012 20:53:00 GMT

Calgary-based private company Surmont Energy Ltd. has completed its winter 2011/2012 oilsands exploration program at the company’s oilsands leases located about 70 kilometres southwest of Ft. McMurray, Alberta.

NET Midstream expands Eagle Ford pipeline

Fri, 23 Mar 2012 15:17:00 GMT

ArcLight Capital Partners invests $100M in Magnum Hunter Resources’ midstream segment

Wed, 21 Mar 2012 16:19:00 GMT

Magnum Hunter Resources Corp. has agreed to sell 28% of its midstream segment, Eureka Hunter Holdings LLC, to an affiliate of energy investment firm ArcLight Capital Partners LLC for $100 million.

ASTM to host online forum on fracturing

Tue, 20 Mar 2012 15:50:00 GMT

Carrizo to sell certain Barnett Shale assets to Atlas for $190M

Fri, 16 Mar 2012 15:10:00 GMT

Carrizo Oil & Gas Inc. has entered into a definitive agreement to sell a portion of its properties in the Barnett Shale to a subsidiary of Atlas Resource Partners for $190 million in cash.

American Standard acquires Permian Basin, Williston Basin, Eagle Ford assets from private company

Fri, 16 Mar 2012 13:15:00 GMT

On March 5, American Standard Energy Corp. closed and funded its acquisition of roughly 72,300 net acres and approximately 250 barrels of oil equivalent per day of production from privately-held Geronimo Holding Corp.

Chesapeake, M3 Midstream, EV Energy Partners to build midstream complex for Ohio Utica production

Wed, 14 Mar 2012 16:17:00 GMT

On March 13, Chesapeake Energy Corp. announced the execution of definitive agreements to build the largest integrated midstream service complex in eastern Ohio.

EnerJex has drilling success in Mississippian project

Wed, 14 Mar 2012 15:54:00 GMT

University initiative to provide shale-development best practices training

Fri, 09 Mar 2012 18:13:00 GMT

A new multi-university initiative announced March 8, will provide best-practices training for people working in the shale natural gas and oil development sector.

Shell CEO talks natural gas revolution at CERAWeek

Wed, 07 Mar 2012 21:53:00 GMT

In this keynote speech to the annual 31st annual CERAWeek Executive Conference in Houston, Peter Voser, CEO of Royal Dutch Shell plc, outlines what the energy industry and policymakers must do to ensure society fully leverages the many benefits of natural gas.

Gulfport Energy, MarkWest to develop Utica infrastructure

Wed, 07 Mar 2012 16:07:00 GMT

MarkWest Utica EMG LLC, a joint venture between MarkWest Energy Partners LP and The Energy and Minerals Group (EMG), have executed a letter of intent with Oklahoma City-based Gulfport Energy Corp. to provide gathering, processing, fractionation, and marketing services in the liquids-rich corridor of the Utica.

KKR, Chesapeake enter financing arrangement for oil, gas investment

Tue, 06 Mar 2012 18:29:00 GMT

Private equity firm Kohlberg Kravis Roberts & Co. LP (KKR) and Chesapeake Energy Corp. have formed a partnership to invest in mineral interests and overriding royalty interests in oil and gas basins in the United States.

Pioneer buying Carmeuse Industrial Sands

Mon, 05 Mar 2012 21:41:00 GMT

BNK begins drilling Poland well to test shale characteristics

Wed, 29 Feb 2012 23:30:00 GMT

BNK Petroleum Inc.’s wholly owned subsidiary Indiana Investments Sp. Z o.o. said that on February 28, 2012 the company began drilling the Miszewo T-1 well on its Trzebielino concession block in Poland.

Surmont receives initial results of oilsands drilling program

Wed, 29 Feb 2012 18:45:00 GMT

Calgary-based private company Surmont Energy Ltd. has begun to receive initial corehole results from its 2011/2012 Alberta oilsands drilling program.

Wapiti Energy to acquire Uinta Basin natural gas reserves from Gasco Energy

Tue, 28 Feb 2012 16:29:00 GMT

Wapiti Energy LLC has formed Wapiti Oil & Gas II LLC and has entered into an agreement with a subsidiary of Gasco Energy Inc. to acquire natural gas reserves in the Rocky Mountain region.

Crestwood Midstream, Crestwood Holdings to acquire Marcellus gathering assets from Antero Resources

Mon, 27 Feb 2012 19:16:00 GMT

Crestwood Midstream Partners LP, Crestwood Holdings Partners LLC and Antero Resources Appalachian Corp. have executed definitive agreements whereby CMLP and Crestwood Holdings, through a newly formed joint venture, have agreed to acquire certain of Antero’s Marcellus Shale gathering system assets for $375 million.

ZaZa, Toreador complete merger to create international resource company

Thu, 23 Feb 2012 16:00:00 GMT

ZaZa Energy Corp. has completed the combination of Toreador Resources and ZaZa Energy LLC, creating an international resource-focused exploration and production company.

Teak Midstream to construct natural gas gathering system, processing plant in Eagle Ford

Wed, 22 Feb 2012 16:36:00 GMT

Dallas-based TEAK Midstream LLC is constructing over 200 miles of natural gas gathering and residue delivery pipelines and an adjoining 200 million cubic feet per day cryogenic gas processing plant in South Texas to serve gas producers operating in the Eagle Ford Shale play.

Quebec’s Anticosti Macasty comparable to Utica Shale says Petrolia

Wed, 22 Feb 2012 14:00:00 GMT

Results of a petrophysical study conducted by Schlumberger Canada Ltd. show that the Anticosti Macasty in Quebec can be compared with the Utica Shale in Ohio, said Petrolia Inc. February 21.

Magnum Hunter Resources adds Ohio Utica acreage in expanding oil window

Fri, 17 Feb 2012 15:52:00 GMT

Triad Hunter LLC, a wholly-owned subsidiary of Houston-based independent energy company Magnum Hunter Resources Corp., has closed on the acquisition of leasehold mineral interests located predominately in Noble County, Ohio from an undisclosed seller for a total purchase price of $24.8 million.

Forest Oil expands Permian Basin Wolfbone Oil play acreage

Thu, 16 Feb 2012 21:27:00 GMT

Forest Oil Corp. announced its acreage position of 68,500 gross acres (63,000 net) prospective for the Wolfbone oil play in Pecos and Reeves Counties, Texas.

With third Polish exploration well, San Leon uncovers new potential unconventional gas play

Tue, 14 Feb 2012 21:08:00 GMT

Europe and North Africa-focused San Leon Energy has completed the drilling and initial evaluation of another unconventional gas well in Poland and discovered a new potential unconventional gas play in the process.

Venoco files proxy for take-private offer

Tue, 14 Feb 2012 16:33:00 GMT

Venoco Inc., an independent energy company with substantial holdings in California’s oily Monterey Shale, filed its proxy for the take-private offer of $12.50 per share in cash.

Petrodyne adds reserves in Mississippian Lime oil play

Tue, 14 Feb 2012 15:59:00 GMT

Petrodyne Resources Ltd., a domestic onshore oil exploration company, has acquired additional PUD acreage in the core of the Horizontal Mississippi Lime Oil Play in Northwest Oklahoma.

Voyager to use new credit facility to pay debt, accelerate Williston Basin activities

Mon, 13 Feb 2012 19:19:00 GMT

Billings, MT-based Voyager Oil & Gas has entered into a new $150 million credit facility with Macquarie Bank Ltd.

Halliburton, PETRONAS Carigali collaborate on evaluation, development of shale resources

Fri, 10 Feb 2012 21:51:00 GMT

Halliburton has signed an agreement with PETRONAS Carigali Sdn Bhd, the national oil company of Malaysia, for the evaluation and development of global shale resources.

San Leon completes second Polish shale gas exploration well

Fri, 10 Feb 2012 19:29:00 GMT

Europe and North Africa-focused San Leon Energy said today that it has successfully completed its second shale gas exploration well in Poland's Baltic Basin.

Copano adds to Eagle Ford presence with pipeline expansion, new long term contract

Fri, 10 Feb 2012 16:51:00 GMT

Midstream natural gas company Copano Energy LLC will extend its wholly-owned 96-mile, 24-inch DK Pipeline in the Eagle Ford Shale play by adding approximately 65 miles of 24-inch pipeline southwest into McMullen County, Texas.

JV agreements played key role in 2011 E&P funding

Wed, 08 Feb 2012 23:10:00 GMT

Following a rise in popularity in the oil and gas upstream sector in 2010, joint venture agreements played a dominant role as a source of low cost funding in 2011—with unconventional resources drawing the most attention, noted analyst at Stifel Nicolaus.

Southcross expands natural gas processing complex in Eagle Ford area

Wed, 08 Feb 2012 21:36:00 GMT

To expand its ability to serve oil and gas producers operating in the Eagle Ford Shale, Southcross Energy has begun construction of a fractionator and natural gas liquids and residue pipeline outlets in South Texas.

Shale driving M&A activity in US oil and gas sector

Wed, 08 Feb 2012 16:25:00 GMT

The total value of US oil and gas mergers and acquisitions increased significantly in 2011 due to continued investment in US shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry, according to an analysis of energy M&A data by PwC US.

Global NuTech acquires Texas Gulf Oil and Gas

Wed, 01 Feb 2012 16:12:00 GMT

Global NuTech Inc. has acquired 100% of the stock of Houston, Texas-based Texas Gulf Oil & Gas Inc.

Geoscientists to debate hydraulic fracturing Feb. 7 at University of Tulsa

Wed, 01 Feb 2012 16:01:00 GMT

The University of Tulsa College of Law and the National Energy Policy Institute will host a discussion on hydraulic fracturing on Feb. 7 in the Great Hall at TU’s Allen Chapman Activity Center, 440 S. Gary Ave, in Tulsa Oklahoma. This is the fourth in a series of annual lectures sponsored by Chesapeake Energy.

Range Resources signs second ethane agreement

Thu, 26 Jan 2012 18:22:00 GMT

A subsidiary of Range Resources Corp. has signed an agreement to ship up to 20,000 barrels of ethane per day on Enterprise Products Partners LP's Appalachia-to-Texas ethane pipeline (ATEX Express).

More positive results for Far East Energy Shouyang Block appraisal wells

Thu, 26 Jan 2012 16:43:00 GMT

Far East Energy Corp. confirmed positive test results from three more appraisal wells located at significant distances from the 1H Pilot Area in the company’s Shouyang Block.

Texcom opens new liquid disposal site in heart of Eagle Ford Shale

Wed, 25 Jan 2012 18:48:00 GMT

Houston-based TexCom Inc., an environmental services company for the oil and gas industry, has opened its new liquid disposal site, owned and operated by its wholly owned subsidiary Eagle Ford Environmental Services LLC.

Apache to acquire Cordillera Energy Partners for $2.85B

Mon, 23 Jan 2012 18:12:00 GMT

Apache Corp. has agreed to acquire Denver-based Cordillera Energy Partners III LLC, a privately held company with substantial operations that include approximately 254,000 net acres in the Granite Wash, Tonkawa, Cleveland and Marmaton plays in western Oklahoma and the Texas Panhandle, for $2.85 billion.

Pembina to buy Provident Energy in $3.1B deal

Tue, 17 Jan 2012 18:31:00 GMT

Pembina Pipeline Corp. has agreed to acquire all of the issued and outstanding common shares of Provident Energy Ltd.

Surmont Energy completes Alberta oilsands 3-D seismic program

Tue, 17 Jan 2012 18:08:00 GMT

Calgary-based private company Surmont Energy Ltd., in conjunction with its operating partner Bounty Developments Ltd., has completed field acquisition of a $3 million 13 square kilometer 3-D seismic program southwest of Ft. McMurray, Alberta.

Monterey Shale’s Venoco plans merger

Tue, 17 Jan 2012 16:06:00 GMT

Venoco Inc., an independent energy company with substantial holdings in California’s oily Monterey Shale, said Jan. 16 that it has entered into a definitive merger agreement under which Timothy M. Marquez, Venoco’s chairman and CEO, who controls 50.3% of Venoco’s common stock, will acquire Venoco through a wholly owned entity, Denver Parent Corp.

i-TEC launches technology to reduce well stimulation time

Tue, 10 Jan 2012 16:32:00 GMT

Well technology company i-TEC has developed a unique, new lower completion ball drop sleeve system which can radically reduce the time it takes to stimulate a well.

ELIMS creates economic solution to measure chemical use in hydraulic fracturing

Tue, 10 Jan 2012 16:09:00 GMT

Economy Liquid Inventory Management System, or ELIMS, and its parent company Economy Polymers and Chemicals are implementing a new technology into the inventory management phase of hydraulic fracturing.

Demand for Eagle Ford acreage continues as Marubeni buys share from Hunt Oil

Mon, 09 Jan 2012 19:34:00 GMT

Marubeni Corp. recently became Japan’s largest owner of American shale oil acreage when it announced it had acquired nearly 52,000 net acres in the Eagle Ford Shale from Dallas-based Hunt Oil.

Far East Energy signs extension agreement for Yunnan Coalbed Methane contract

Mon, 09 Jan 2012 16:15:00 GMT

Far East Energy Corp. has signed a Modification Agreement extending the exploration period of its Production Sharing Contract in Yunnan Province.

Weekly Update: New Year sees US shale acquisitions continue as Total, Sinopec make moves

Fri, 06 Jan 2012 19:00:00 GMT

US Shale was the big M&A headline-maker in 2011, and 2012 has started on the same track. Sinopec and Total were both involved in big money deals this week, spending a combined total of around $4.5 billion to enter emerging plays.

PetroChina gains full ownership of Canadian oil sands project

Thu, 05 Jan 2012 20:37:00 GMT

On January 3, Canadian crude producer Athabasca Oil Sands Corp. announced it sold its remaining 40% interest in the MacKay River oil sands project to Cretaceous Oilsands Holdings Ltd., a wholly owned subsidiary of PetroChina International Investment Ltd.

Kroff to offer water treatment workshop in Denver

Thu, 05 Jan 2012 18:07:00 GMT

Pittsburgh-based Kroff Inc. said Jan. 5 that Dale Grottenthaler, general manager of Kroff Well Services Inc., will offer his expertise on water treatment procedures that allow for safe and effective use of frac water flowback during at workshop Jan. 13 at the Emerging North American Shale Plays conference in Denver, Colo.

JV streak continues as Chesapeake completes US$2.32B Utica Shale deal with Total

Wed, 04 Jan 2012 21:00:00 GMT

Building on its existing relationship with French oil major Total, Chesapeake Energy Corp. completed yet another joint venture to continue its progress developing unconventional resources—this time in the Ohio portion of the Utica Shale play.

Enterprise to build ethane pipeline to Gulf Coast

Tue, 03 Jan 2012 21:52:00 GMT

Enterprise Products Partners LP (NYSE: EPD) said Jan. 3 it will develop and build a 1,230-mile ethane pipeline from areas of the Marcellus and Utica shale plays to the Gulf Coast.

Sinopec invests US$2.2B in Devon Energy emerging play acreage

Tue, 03 Jan 2012 18:50:00 GMT

Devon Energy Corp. has signed an agreement with Sinopec International Petroleum Exploration & Production Corp. whereby SIPC will invest $2.2 billion in exchange for one-third of Devon’s interest in five emerging plays.

Repsol buys into US unconventional hydrocarbons with Mississippi Lime JV

Tue, 03 Jan 2012 18:45:00 GMT

On December 22, Spain’s Repsol announced an agreement signed with Oklahoma City-based SandRidge Energy to buy nearly 363,636 net acres in the Mississippi Lime play.

Comstock Resources closes US332 million acquisition in Delaware Basin

Thu, 29 Dec 2011 18:35:00 GMT

Frisco, Tex.-based Comstock Resources Inc. (NYSE:CRK) said on Dec. 29 that it has closed the previously announced acquisition of oil and gas properties in the Delaware Basin in West Texas from Eagle Oil & Gas Co. and certain other parties for $331.9 million.

Encana closes sale of more than US1 billion in divestitures

Wed, 28 Dec 2011 18:14:00 GMT

Encana Oil & Gas (USA) Inc., a subsidiary of Calgary-based Encana Corporation (TSX & NYSE: ECA), has closed the sale of the majority of its divestiture of North Texas natural gas producing properties and has received proceeds of approximately US$860 million for those assets.

Breitling Oil and Gas enters Bakken Shale

Tue, 27 Dec 2011 20:24:00 GMT

Irving, Tex.-based Breitling Oil and Gas Corp. said Dec. 27 that it has acquired a large acreage position in the Sand Creek field, a proven and prolific part of the Bakken shale formation in McKenzie County, North Dakota.

Penn Virginia expands in Eagle Ford

Wed, 21 Dec 2011 18:14:00 GMT

Penn Virginia Corp. said December 20 that it completed an agreement with an undisclosed major oil and gas company to jointly explore the Eagle Ford Shale in Lavaca County, Texas.

ION Geophysical completes seismic data acquisition in Marcellus Shale

Wed, 21 Dec 2011 17:55:00 GMT

ION Geophysical Corp. has acquired 235 square miles of new 3D multi-client seismic data in the Marcellus shale play in central Pennsylvania.

Ten largest operators account for 90% of 2011 Bakken growth

Mon, 19 Dec 2011 21:20:00 GMT

Deloitte survey: Majority of Americans think shale gas benefits outweigh risks

Thu, 15 Dec 2011 16:23:00 GMT

A majority of Americans think developing natural gas by tapping shale formations offers greater rewards than it does risks, including those associated with hydraulic fracturing, according to a survey conducted by the Deloitte Center for Energy Solutions.

Kinder Morgan to invest $130M in new condensate processing facility

Wed, 14 Dec 2011 19:17:00 GMT

Pipeline transportation and energy storage company Kinder Morgan Energy Partners LP (NYSE: KMP) said it will build, own and operate a petroleum condensate processing facility near its Galena Park terminal on the Houston Ship Channel.

Sanchez prices IPO at $203M

Wed, 14 Dec 2011 16:30:00 GMT

Sanchez Energy Corp. has priced its initial public offering of 10,000,000 shares of its common stock at $22.00 per share for net proceeds, after underwriting discounts and commissions and estimated offering expenses, of approximately $203 million.

Endeavour terminates Marcellus acquisition

Wed, 14 Dec 2011 16:22:00 GMT

Endeavour International Corp. has decided to pass on the acquisition of certain Marcellus Shale assets from SM Energy.

Deadline approaching for SM Energy, Endeavour to close Marcellus deal

Tue, 13 Dec 2011 18:33:00 GMT

After a year offering up Marcellus Shale assets, SM Energy Co. worked out a deal with a subsidiary of Endeavour International Corp. to sell the assets in McKean and Potter Counties, Pennsylvania for roughly $80 million.

Ohio Department of Natural Resources: Utica may be one of the lowest cost shale plays

Tue, 13 Dec 2011 17:13:00 GMT

Initial drilling in the Utica is still centered around eastern Ohio, in the wet gas window, but activity could push westward as the oily window is better defined, noted Christopher Perry, the Energy Group Supervisor of the Ohio Department of Natural Resources’ Division of Geological Survey in a conference call hosted by Stifel Nicolaus last week.

Dejour completes frac at South Rangely Niobrara well

Mon, 12 Dec 2011 21:19:00 GMT

Dejour Energy Inc. has fracture stimulated and is preparing to flow the test well drilled in Q3 2011 on its South Rangely leasehold, in Rio Blanco County.

Eagle Ford activity doubles in 2011, tests move into Louisiana

Mon, 12 Dec 2011 18:23:00 GMT

The Eagle Ford Shale in South Texas has seen incredible growth over the year, and signs point toward an even greater expansion–including into Louisiana, noted Global Hunter Securities (GHS) in a December 12, 2011 note to investors.

Rosetta Resources to allocate $590M of $640M 2012 budget to Eagle Ford activities

Mon, 12 Dec 2011 17:21:00 GMT

Rosetta Resources Inc. has just announced the approval of its 2012 capital budget of $640 million which includes approximately $590 million allocated for activities in the liquids-rich window of the Eagle Ford shale in South Texas.

MHR, SGY JV in Marcellus to provide development efficiencies through longer laterals

Mon, 12 Dec 2011 16:54:00 GMT

Magnum Hunter Resources Corp. has entered a joint venture agreement with Stone Energy Corp. to jointly develop Marcellus shale acreage in Wetzel County, West Virginia.

Weekly Update: Shell and ENI gamble on Nigeria whilst Total plays it safe in North Sea

Fri, 09 Dec 2011 21:30:00 GMT

There were three large deals by super majors this week as Total played it safe by acquiring a producing North Sea asset whilst Royal Dutch Shell and ENI opted for a high risk but high reward asset in Nigeria.

Royale looks to add oil to its portfolio with Alaska acreage

Thu, 08 Dec 2011 18:32:00 GMT

Royale Energy Inc. was selected by the State of Alaska as a winning bidder on acreage in the North Slope Area wide lease sale.

Magnum Hunter Resources sees expanded senior bank credit facility

Wed, 07 Dec 2011 14:53:00 GMT

Magnum Hunter Resources Corp. has seen its borrowing base under its $350 million Senior Bank Facilities, which consist of a $250 million Senior Revolving Credit Facility and a $100 million Term Loan Facility, increased by $32.5 million from $167.5 million to $200 million.

Slated for Utica drilling, Chesapeake closes additional $750M in funding

Mon, 05 Dec 2011 15:47:00 GMT

Chesapeake Energy Corp. has closed $1.25 billion of perpetual preferred shares of its wholly owned, unrestricted subsidiary, CHK Utica LLC.

Eagle Ford focused Sanchez Energy commences IPO

Mon, 05 Dec 2011 15:33:00 GMT

Sanchez Energy Corp., an independent exploration and production company focused on the Eagle Ford Shale in South Texas, has commenced an initial public offering of 10,000,000 shares of its common stock.

Weekly Update: Asia intensifies North American asset grab

Fri, 02 Dec 2011 21:43:00 GMT

Government backed Asian companies made further moves for global oil and gas resources this week, with the target areas ranging from Canada and the United States to Australia.

Magnum Hunter pushes Eagle Ford completions with longer laterals, greater frac stages

Thu, 01 Dec 2011 17:24:00 GMT

An Eagle Ford Shale activity update by Magnum Hunter Resources Corp. is marked with improved initial production rates driven by longer lateral lengths and greater frac stages.

Temporary ban impacts Niobrara plans for Ultra Petroleum

Thu, 01 Dec 2011 16:59:00 GMT

A temporary drilling moratorium spanning Banning Lewis Ranch in eastern Colorado Springs and enacted by the city has halted certain activity by Ultra Petroleum in the Niobrara Shale area, said Global Hunter Securities in a note to investors December 1.

Kinder Morgan to invest $210M to add new storage capacity at Edmonton Terminal

Wed, 30 Nov 2011 16:03:00 GMT

Pipeline and energy storage company Kinder Morgan Energy Partners LP said Wednesday that it will invest roughly $210 million to construct seven tanks with a storage capacity of 2.4 million barrels for crude oil and condensate at its Edmonton Terminal in Strathcona County, Alberta.

Gulfport plans equity offering to fund Ohio Utica Shale development

Tue, 29 Nov 2011 17:02:00 GMT

To help fund its Utica Shale drilling and development plan, Gulfport Energy Corp. has announced plans to offer five million shares to the public, of which four million will be new shares and one million will be offered by an individual stockholder.

CNOOC completes OPTI acquisition

Mon, 28 Nov 2011 19:24:00 GMT

CNOOC Luxembourg S.a r.l, an indirect wholly-owned subsidiary of CNOOC Ltd., has completed its acquisition of OPTI Canada Inc. The total value of the consideration is approximately US$2.1 billion.

Weekly Update: KKR furthers natural gas bet with acquisition of Samson Investment

Fri, 25 Nov 2011 22:30:00 GMT

Kohlberg Kravis & Roberts Co. confirmed rumors that have been circulating since the start of November when they announced that in partnership with 3 other companies they are acquiring one of the largest private oil and gas companies in the US, Samson Investment, for $7.2 billion.

Investor group to gain shale play acreage with Samson acquisition

Wed, 23 Nov 2011 15:47:00 GMT

An investor group consisting of KKR, NGP, Crestview Partners and Itochu Corp., has signed a definitive agreement to acquire Samson Investment Co., one of the largest private exploration and production companies in the US, for $7.2 billion.

San Leon completes first shale gas exploration well in Baltic Basin

Fri, 18 Nov 2011 20:01:00 GMT

EXCO sets 2012 budget, reduces Haynesville activity

Fri, 18 Nov 2011 16:11:00 GMT

Dallas-based EXCO Resources Inc. has estimated its 2012 capital budget around $710 million, including $585 million for development and completion activities.

Exterran introduces enclosed gas production unit to meet demands of Marcellus Shale

Wed, 16 Nov 2011 21:10:10 GMT

Exterran Holdings Inc. has introduced the Enclosed Gas Production Unit, designed to accommodate the high pressure environment and frigid climate of the Marcellus shale.

Anadarko estimates Niobrara net resources could reach 1.5Bboe

Tue, 15 Nov 2011 21:15:00 GMT

Recent results from Anadarko Petroleum Corp.’s first 11 horizontal Niobrara and Codell wells in the Wattenberg field of northeastern Colorado show strong initial production (IP) rates and could serve as a catalyst for potential joint venture agreements.

EVEP acquires over $1.2B in Barnett Shale assets

Thu, 03 Nov 2011 17:15:10 GMT

EV Energy Partners and certain other parties related to EnerVest have signed agreements with two companies to acquire over $1.2 billion in liquids-rich Barnett Shale assets in Montague, Wise, Denton, Parker and Tarrant counties.

GeoMet provides update on pending purchase of CBM assets in Alabama, West Virginia

Wed, 26 Oct 2011 19:25:20 GMT

GeoMet said Oct. 26 that it has been advised by the seller that the party holding the preferential purchase right on certain of the coalbed methane (CBM) properties in West Virginia, with an allocated value of $23.4 million, has irrevocably waived such right.

BENTEK expects Marcellus Shale takeaway capacity to double in 2 years

Wed, 26 Oct 2011 15:20:50 GMT

BENTEK Energy, a Colorado-based research and consulting firm, issued a report on Oct. 26 saying that Marcellus Shale natural gas pipeline takeaway capacity will more than double in the next two years, jumping to 8.5 bcf/d by 2013.

CONSOL, Hess close on Ohio Utica Shale deal

Mon, 24 Oct 2011 17:55:30 GMT

CONSOL Energy Inc. has closed on its previously announced agreement with Hess to jointly explore and develop CONSOL's nearly 200,000 Utica Shale acres in Ohio for aggregate consideration to CONSOL of approximately $594 million.

Kinder Morgan to acquire treating company in Eagle Ford Shale for $155 million

Mon, 24 Oct 2011 17:25:30 GMT

On Oct. 24, Kinder Morgan Energy Partners LP signed a definitive purchase and sale agreement to acquire SouthTex Treaters, a leading manufacturer, designer, and fabricator of natural gas treating plants that remove CO2 and H2S, for approximately $155 million.

Energy Transfer Partners enters Woodford, Barnett Shale midstream agreement with XTO

Fri, 21 Oct 2011 20:20:40 GMT

Energy Transfer Partners LP announced October 20 that it has entered into a long-term, fee-based agreement with XTO Energy to provide natural gas gathering, processing and transportation services from both the Woodford and Barnett Shale regions.

Quicksilver Resources to create MLP with Barnett assets to reduce debt

Thu, 20 Oct 2011 16:15:50 GMT

Forth Worth, TX-based natural gas and crude oil exploration and production company Quicksilver Resources Inc. announced its intent October 19 to create an MLP with a portion of its Barnett Shale assets.

USGS estimates shale potential in Uruguay Norte Basin

Tue, 18 Oct 2011 19:45:50 GMT

The US Geological Survey assessed the potential for unconventional oil and gas resources (shale gas, shale oil, tight gas, and coalbed gas) in the Norte Basin of Uruguay.

Statoil enters Bakken Shale with $4.4B purchase of Brigham Exploration

Tue, 18 Oct 2011 15:35:30 GMT

Norway’s Statoil ASA said Oct. 17 that it has entered into a merger agreement for Statoil to acquire all of the outstanding shares of Austin, Tex.-based Brigham Exploration Company for US$36.5 per share through an all-cash tender offer.

Babst Calland opens office in Charleston, WV

Fri, 14 Oct 2011 15:40:50 GMT

The law firm of Babst Calland has opened an its newest office in Charleston, West Virginia at the United Center on Virginia Street East.

PetroFrontier drills first horizontal well in AU's Lower Arthur Creek

Wed, 12 Oct 2011 20:10:30 GMT

PetroFrontier Corp. said October 11 that it has successfully drilled Baldwin-2Hst1, Australia's first horizontal well in the Lower Arthur Creek "Hot Shale" Formation in the southern Georgina Basin in the Northern Territory, Australia.

First Reserve commits $100M for Marcellus Shale midstream infrastructure

Tue, 11 Oct 2011 15:10:20 GMT

First Reserve Corp. has entered into an agreement to provide an equity commitment of $100 million from its Energy Infrastructure Fund to a joint venture with Energy Corporation of America.

Minor economic impact expected from planned PA Marcellus development guidelines

Wed, 05 Oct 2011 16:00:10 GMT

On Monday, October 3, Pennsylvania Governor Tom Corbett approved key recommendations made by the Marcellus Shale Advisory Commission, including changes to enhance environmental standards, an impact fee, and a plan to help move Pennsylvania toward energy independence.

Noble, CONSOL finalize $3.4B Marcellus Shale partnership

Mon, 03 Oct 2011 15:05:50 GMT

Noble Energy has closed the previously announced agreements which create a joint venture partnership with CONSOL for the development of Marcellus Shale properties in southwest Pennsylvania and northwest West Virginia.

Horn River, Montney shale plays create interest in western Canada

Sat, 01 Oct 2011 05:00:00 GMT

The Horn River Basin is not a household name and neither are the subsurface shale formations in that part of western Canada.

Horn River, Montney shale plays create interest in western Canada

Sat, 01 Oct 2011 05:00:00 GMT

The Horn River Basin is not a household name and neither are the subsurface shale formations in that part of western Canada.

Upstream News

Sat, 01 Oct 2011 05:00:00 GMT

Industry Briefs

Sat, 01 Oct 2011 05:00:00 GMT

Cash from Eagle Ford deal should allow Carrizo to build on Utica Shale partnership with Avista

Fri, 30 Sep 2011 15:30:10 GMT

Building upon the existing relationship Carrizo Oil & Gas Inc. has with private equity firm Avista Capital Partners in the Marcellus Shale, the two companies have just announced a joint venture agreement to acquire and develop acreage in the Utica Shale.

NYTEX acquires acreage in Mississippi Lime formation in North Texas

Thu, 29 Sep 2011 21:50:20 GMT

NYTEX Energy Holdings Inc. has acquired 5,447 leasehold acres in North Texas to commence development of the Mississippi Lime oil formation at depths between 4,000 and 5,000 feet.

Carrizo strikes deal with India's Gail to monetize producing Eagle Ford Shale assets

Thu, 29 Sep 2011 15:25:20 GMT

Carrizo Oil & Gas Inc. has entered a $95 million unincorporated joint venture with India's GAIL for a 20% working interest in roughly 20,200 net acres located in LaSalle County, TX targeting the Eagle Ford Shale.

Corridor Resources begins drilling Frederick Brook shale well

Wed, 28 Sep 2011 22:10:10 GMT

Nova Scotia, Canada-based Corridor Resources Inc. has spud the vertical Will DeMille O-59 shale gas appraisal well, an offset to the Will DeMille G-59 horizontal well drilled in 2010, in order to advance the Frederick Brook Shale program.

Kodiak adds to Bakken acreage with Williston Basin acquisition

Wed, 28 Sep 2011 20:05:40 GMT

Looking to add to its Bakken Shale leasehold, Kodiak Oil & Gas Corp. has entered into a definitive purchase and sale agreement with a private oil and gas company to acquire additional producing properties and undeveloped leasehold in the Williston Basin for approximately $235 million in cash.

Chesapeake's latest Utica Shale well peak rate nearly three times initial report

Wed, 28 Sep 2011 15:35:00 GMT

Today, oil and natural gas company Chesapeake Energy disclosed peak rates from four Utica Shale wells in eastern Ohio and western Pennsylvania, three in the wet gas window and one in the dry gas window.

PDC Energy makes aggressive Marcellus bid as natural gas prices remain low

Tue, 27 Sep 2011 16:15:30 GMT

At a time of sustained low natural gas prices, PDC Energy has agreement to acquire membership interests of Seneca-Upshur LLC, giving the company access to nearly 90,000 net acres targeting the Marcellus Shale and 10,000 net acres prospective to the Huron Shale.

Antero Resources increases Marcellus Shale leasehold

Mon, 26 Sep 2011 15:00:50 GMT

Denver, Co.-based Antero Resources has acquired a 7% overriding royalty interest from CONSOL Energy on 115,647 net acres located in nine counties in southwestern Pennsylvania and north central West Virginia for $193 million.

Robertson to Join Marathon Oil as regional VP for South TX, Eagle Ford

Thu, 22 Sep 2011 20:15:00 GMT

Marathon Oil Corp. will add Lance W. Robertson as regional vice president - South Texas/Eagle Ford, effective Oct. 3, 2011.

Gastar wells demonstrate productivity of Marcellus Shale

Thu, 22 Sep 2011 15:25:40 GMT

Gastar Exploration’s first two horizontal Marcellus wells, the Wengerd 1H and 7H, produced at a combined gross initial 30-day rate of 7.1 MMcfd of 1285 btu/Mcf natural gas and 176 bbls of condensate per day

Ohio study shows Utica Shale will create significant job growth

Tue, 20 Sep 2011 21:15:20 GMT

Providing further evidence that Ohio is on the cusp of a possible economic oil and gas boom, the Ohio Oil & Gas Energy Education Program (OOGEEP) has released an economic impact study that shows how the state’s petroleum industry is positively impacting Ohio’s economy today and includes the first comprehensive research into how planned oil and gas development in the Utica Shale formation might impact the state over the next five years.

Praxis Mutual Funds calls for hydraulic fracturing transparency

Tue, 20 Sep 2011 16:55:30 GMT

Praxis Mutual Funds has called on oil and gas companies to provide additional disclosures regarding the environmental and financial risks associated with their hydraulic fracturing (natural gas drilling) operations.

Crimson Exploration continues Eagle Ford Shale drilling success

Mon, 12 Sep 2011 19:20:10 GMT

Houston-based Crimson Exploration Inc. said Sept. 12 that it had successfully completed the Littlepage McBride #2H well in Karnes County, Texas, and also the KM Ranch #1H well in Zavala County, Texas. Both wells were drilled into the South Texas Eagle Ford shale formation.

Entrance into Utica Shale brings eyes back to PDC Energy

Thu, 08 Sep 2011 16:05:30 GMT

Hess adds to Utica Shale position with acquisition of Marquette Exploration

Thu, 08 Sep 2011 15:50:40 GMT

New York-based Hess Corporation said Sept. 8 that it has acquired privately-held Marquette Exploration LLC and other leases in Ohio’s Utica Shale, boosting its acreage position by 85,000 net acres at a cost of approximately $750 million.

Chesapeake's first horizontal Utica result offers promising start to the play

Thu, 08 Sep 2011 15:25:50 GMT

Chesapeake Energy's first horizontal Utica Shale well, the Buell #8H, tested 6.5 MMcfepd (6.2 MMcfpd of natural gas and 59 bopd of condensate).

Hess and CONSOL form JV to develop Utica Shale

Wed, 07 Sep 2011 16:10:20 GMT

On Sept. 7, Hess Corporation said it had formed a joint venture agreement with CONSOL Energy Inc. to acquire a 50% interest in CONSOL’s nearly 200,000 acres in the Utica Shale in eastern Ohio for aggregate payments of $593 million.

Eagle Ford Shale continues to heat up, companies looking to hire thousands

Thu, 01 Sep 2011 05:00:00 GMT

The Eagle Ford Shale in South Texas continues to be one of the hottest of all the North American shale plays.

Sionix leases North Dakota land for Bakken Water Treatment Plant

Tue, 30 Aug 2011 19:25:00 GMT

Sionix Corp. has executed an agreement with Dakota Solutions Inc. for the lease of property in Tioga, North Dakota for the construction and operation of a Waste Water Treatment Facility in the Bakken Shale Formation.

Halliburton to hire 11,000, mostly for Bakken Shale play

Thu, 25 Aug 2011 22:11:00 GMT

Houston-based Halliburton plans to hire more than 11,000 employees this year, according to Jim Brown, Western Hemisphere president of the company.

NJ Gov. Chris Christie orders one-year moratorium on hydraulic fracturing

Thu, 25 Aug 2011 20:30:20 GMT

New Jersey Gov. Chris Christie, a Republican who has been mentioned prominently as a contender for the GOP presidential nomination in 2012, has ordered a one-year moratorium on hydraulic fracturing in that state, making New Jersey the first state in the US to ban hydraulic fracturing, a widely used completion method used in shale formations.

Encana plans to divest its Barnett Shale properties in North Texas

Thu, 25 Aug 2011 16:35:50 GMT

Encana Corporation says it intends to sell its North Texas natural gas producing assets in the Fort Worth Basin located in the Barnett Shale play.

Southern Union plans $235 million midstream expansion in Permian basin to support Avalon Shale development

Tue, 23 Aug 2011 22:15:30 GMT

Southern Union Company has approved construction of the $235 million Red Bluff Project, a 200 MMcf/d natural gas processing plant and associated gathering, compression, and treating facilities, through its midstream segment, Southern Union Gas Services (SUGS).

Marcellus Shale Coalition's Kathryn Klaber comments on new USGS report

Tue, 23 Aug 2011 19:10:20 GMT

On Aug. 23, the US Geological Survey released an updated report that indicates a 4,100% increase in technically recoverable natural gas and a 33,900% increase in technically recoverable natural gas liquids from the Marcellus shale formation in comparison with previous USGS assessments from 2002.

USGS raises estimate of recoverable natural gas and gas liquids in Marcellus Shale

Tue, 23 Aug 2011 16:35:20 GMT

The Marcellus Shale contains about 84 trillion cubic feet of undiscovered, technically recoverable natural gas and 3.4 billion barrels of undiscovered, technically recoverable natural gas liquids according to a new assessment by the U S Geological Survey.

Pivotal LNG to provide LNG to Encana in Haynesville Shale

Mon, 22 Aug 2011 21:15:20 GMT

Pivotal LNG, a subsidiary of Atlanta-based AGL Resources Inc., has signed an agreement with Encana Natural Gas Inc., a subsidiary of Encana Corporation, to supply liquefied natural gas that Encana plans to offer to service providers operating fleet trucks in the Haynesville Shale area of Louisiana.

Wood Mackenzie expects strong prospective value growth in upstream oil and gas

Mon, 22 Aug 2011 15:55:00 GMT

Research and consulting firm Wood Mackenzie dispels talk that the oil and gas business is a “sunset industry” in a new report titled “The changing face of upstream value.”

GTI opens Pittsburgh office for Marcellus Shale region

Tue, 09 Aug 2011 16:05:10 GMT

The Chicago-based Gas Technology Institute (GTI) has opened an office in Pittsburgh to show the organization’s commitment to the natural gas industry in the Marcellus Shale fairway and the surrounding region.

Magnum Hunter to buy North Dakota Williston Basin assets for $57M

Fri, 05 Aug 2011 15:30:10 GMT

A subsidiary of Magnum Hunter Resources Corp. has negotiated an agreement to purchase operated working interest ownership in oil and gas leases and 191 wells on roughly 15,500 gross acres over four counties in the Williston Basin of North Dakota from a private company for $57 million.

Utica Shale acreage values trending higher

Wed, 03 Aug 2011 18:40:50 GMT

Recent Utica Shale activity is trending upward and it appears valuations in the area are on the rise as well.

Targeting Marcellus, Utica Shale, Rex Energy plans to continue rapid production growth

Wed, 03 Aug 2011 16:30:30 GMT

Driven by Marcellus Shale activity, Rex Energy put up high production growth for the second quarter 2011 and plans to continue its growth with a large backlog in place, an acquisition targeting the natural gas-bearing Utica Shale, and an increased borrowing base.

Leaving Bakken for emerging shale oil, Anschutz Exploration exits Williston Basin

Mon, 01 Aug 2011 18:50:30 GMT

The Anschutz Exploration Corp. closed the sale of its remaining operated and non-operated producing properties and undeveloped acreage in the Williston Basin of Montana and North Dakota to an undisclosed Canadian oil company for $115 million.

ConocoPhillips acquires Niobrara acreage from Lario Oil & Gas

Fri, 29 Jul 2011 18:55:40 GMT

Chesapeake Energy confirms hype surrounding Ohio Utica Shale

Thu, 28 Jul 2011 23:10:50 GMT

Chesapeake Energy released its second quarter 2011 financials July 28, and with the release came confirmation from the oil and natural gas producer that it believes the liquids-rich Ohio Utica Shale to be economically viable.

Ballard Spahr partner named to Maryland Marcellus Shale advisory panel

Wed, 20 Jul 2011 17:35:40 GMT

Gov. Martin O’Malley has named Harry Weiss, a Ballard Spahr partner, as one of 13 members of the Governor’s advisory panel that will study natural gas drilling in the Marcellus Shale in Western Maryland.

Giant Eagle opens first CNG fueling stations in the heart of Pennsylvania's Marcellus Shale

Tue, 19 Jul 2011 16:35:10 GMT

Food and fuel retailer Giant Eagle Inc. unveiled its first two compressed natural gas (CNG) fueling stations in the Pittsburgh area at its Beechnut Drive retail support and distribution center.

Two possible trends emerge as BHP Billiton acquires Petrohawk

Mon, 18 Jul 2011 20:30:20 GMT

Days after the July 14 announcement by Australia’s BHP Billiton Ltd. of its acquisition of Houston-based Petrohawk Energy Corp. for US$15.1 billion, analysis about future trends in the highly attractive unconventional resources space began to surface.

SM Energy to sell entire Marcellus Shale portfolio

Mon, 18 Jul 2011 15:45:30 GMT

One year after offering up Marcellus Shale assets, SM Energy has agreed to sell assets in McKean and Potter Counties, Pennsylvania to a subsidiary of Endeavour International for $80 million—considerably lower than the original $4,000/acre expectation Jefferies & Co. Inc. put out last year.

UPDATE: Bill Barrett adds to DJ Basin Niobrara oil position

Thu, 14 Jul 2011 14:35:30 GMT

On leading edge of domestic natural gas use, Chesapeake unveils natural gas initiative

Tue, 12 Jul 2011 18:50:00 GMT

On Monday, natural gas champion Chesapeake Energy unveiled its three pronged plan to transform the US transportation fuels market and reduce OPEC Oil imports.

Bill Barrett adds to DJ Basin Niobrara oil position

Tue, 12 Jul 2011 16:05:10 GMT

Denver-based Bill Barrett Corp. has signed a purchase and sale agreement with a Texas American Resources Co. affiliate to acquire DJ Basin properties targeting Niobrara oil for $150 million.

New to energy, Circle Star acquires Texas assets

Thu, 07 Jul 2011 22:35:00 GMT

Australia's Samson Oil, Chesapeake target Codell sandstone beneath Niobrara

Tue, 05 Jul 2011 20:35:40 GMT

Australia-based Samson Oil & Gas Ltd. has elected to work with US-based Chesapeake Energy on two wells targeting the Codell Sandstone in Goshen County, Wyoming, USA.

Woodford Shale and Cana-Woodford: High bcfe wells with attractive economics

Fri, 01 Jul 2011 05:00:00 GMT

The first commercial oil well from the Woodford Shale in Oklahoma was drilled in 1939. Since then, more than four million barrels of oil have been extracted from the formation.

In final sell down phase, SM Energy makes $680M Eagle Ford deal with Mitsui

Wed, 29 Jun 2011 16:00:30 GMT

NuStar and Velocity Midstream will partner on new Eagle Ford Shale pipeline

Tue, 28 Jun 2011 16:10:30 GMT

A business unit of NuStar Energy said June 27 that it will partner with a midstream company based in Oklahoma to construct a 70-mile pipeline that will have the capacity to transport more than 100,000 barrels of oil per day from the Eagle Ford Shale in South Texas to NuStar’s terminal near Corpus Christi, Texas.

First Marcellus test wells fall short for Penn Virginia

Tue, 28 Jun 2011 15:00:00 GMT

Results from its first three operated wells in the Marcellus Shale fell short of expectations, reported Penn Virginia Corp.

PetroLogistics may develop ethylene plant in West Virginia for Marcellus Shale gas

Mon, 27 Jun 2011 19:55:30 GMT

Houston-based PetroLogistics has been talking to Bayer Corp. about acquiring some of its property in West Virginia to develop a facility that will convert ethane from Marvellus Shale gas and turn it into ethylene, one of the primary building blocks for petrochemicals.

Howard Energy Partners acquires Eagle Ford Shale assets

Fri, 24 Jun 2011 17:15:20 GMT

On June 24, Howard Energy Partners (HEP) said it has begun operations with the acquisitions of Texas Pipeline LLC and Bottom Line Services LLC for a total consideration of $76 million.

Texas RRC awards operating permit to Fountain Quail in Eagle Ford Shale

Tue, 21 Jun 2011 14:40:30 GMT

Fountain Quail Water Management LLC, a wholly owned subsidiary of Aqua-Pure Ventures Inc., said June 21 that it has received a five-year operating permit from the Railroad Commission of Texas to recycle wastewater in the Eagle Ford Shale.

Cross Border Resources increases Wolfberry acreage

Fri, 17 Jun 2011 13:00:50 GMT

San Antonio, Tex.-based Cross Border Resources Inc. (OTCQX: XBOR) has executed a participation agreement in the Big Star Six Shooter project targeting 320 gross acres within the Wolfberry Trend, Dawson County, Texas.

Strike joins Eagle Landing Joint Venture for Eagle Ford Shale exploration

Thu, 16 Jun 2011 19:00:50 GMT

Strike Energy Ltd., along with four Texas-based companies, has signed on with Eagle Landing Joint Venture, securing a 27.5% interest in a joint venture set for Eagle Ford Shale exploration in Texas.

SM Energy monetizes portion of Eagle Ford shale assets

Tue, 14 Jun 2011 15:00:40 GMT

SM Energy Co. has reached an agreement with undisclosed buyers to sell a portion of its Eagle Ford Shale position.

ExxonMobil increases Marcellus Shale holdings by acquiring private cos

Thu, 09 Jun 2011 15:15:40 GMT

ExxonMobil has added to its Marcellus Shale acreage with the purchase of two privately held oil and gas operators, Phillips Resources Inc. and TWP Inc., for roughly $1.69 billion.

With proceeds from Barnett sale, Carrizo adds Eagle Ford acreage

Mon, 06 Jun 2011 16:40:10 GMT