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OTHER REGIONAL Briefs

Range Resources boosts Marcellus shale production above 1 bcfd

Range Resources Corp. plans to further increase its production in the Marcellus shale in 2014 and has set a higher capital spending budget that will enable it to drill even longer laterals and utilize more completion stages at its Marcellus wells this year.

EAGLE FORD Briefs

Bakken leader Continental Resources drills deeper into Three Forks formation

The Bakken-Three Forks tight oil formation is already one of the top producing oil plays in the US, but leading operator Continental Resources Inc. believes there may be even more oil in place than previously thought in deeper benches of the Three Forks formation.

BHP plans to double Eagle Ford output by 2016

BHP Billiton is focusing the bulk of its US onshore spending on the Eagle Ford shale this year and seeing promising results from field trials aimed at increasing production and reducing costs at its wells in the South Texas shale play.

PNR closes sale of Alaska subsidiary

Pioneer Natural Resources Co. (PNR), Dallas, has completed the sale of its subsidiary Natural Resources Alaska Inc. to Caelus Energy Alaska LLC, Dallas, for $300 million. PNR initially reported a sale price of $550 million.

Noble to appoint new chief executive officer

Noble Energy Inc. reported that Charles D. Davidson, chairman and chief executive officer, plans to retire and leave the company’s board on May 1.

Lukoil to sell CIRL stake to Sinopec

OAO Lukoil reported plans to sell its 50% stake in Caspian Investment Resources Ltd. (CIRL) to Sinopec for about $1.2 billion. Closing is expected before yearend.

BP intends to divest Texas Panhandle assets

BP America Production Co. said it intends to divest assets in the Hugoton and Panhandle West fields in Sherman and Moore counties in the Texas Panhandle. The company will retain deep rights below the base of the Brown Dolomite, it said.

Greenland in transition

USCG: 'Chain of errors' led to Shell drilling unit running aground

A US Coast Guard (USCG) investigation has found that a "chain of errors" led to the Royal Dutch Shell PLC conical drilling unit, the Kulluk, running aground on Sitkalidak Island, Alas., in December 2012.

ConocoPhillips raises estimates on Eagle Ford recoverable resources, production

ConocoPhillips has increased its estimated resource base in the Eagle Ford play to 2.5 billion bbl of oil in place from 1.8 billion bbl, as well as its estimated production from current volumes to more than 250,000 boe/d by 2017.

CNPC, Shell strengthen global cooperation

China National Petroleum Corp. (CNPC) and Royal Dutch Shell PLC have reached an agreement to deepen their strategic partnership by increasing cooperation in the development of both companies’ global projects.

OMV to ramp up drilling in lower Austria

OMV AG reported it will drill as many as 24 wells this year along with 20 wells in 2015 and 2016, respectively, in the Weinviertel region of lower Austria. Fourteen of those projects involve exploration wells with additional production potential, the company said.

Laclede Group to acquire Alagasco for $1.6 billion

Laclede Group Inc., St. Louis, has entered into an agreement with Energen Corp. to acquire subsidiary Alabama Gas Corp. (Alagasco) for $1.6 billion, with an effective purchase price of $1.34 billion.

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Oil & Gas Conferences

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Offshore Middle East Conference & Exhibition

January 26, 2015
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