More Oil & Gas News

PwC: US shale deal activity jumps in second quarter

Merger and acquisition activity in the US oil and gas industry jumped in the second quarter of 2014, and nearly half of total deal value was related to shale plays, according to the Energy Practice of PwC.

Bill Barrett sells gas-rich assets, focuses on Wattenberg

Bill Barrett Corp. has agreed to divest the majority of its acreage in the Powder River basin and its remaining position in the Gibson Gulch area in the Piceance basin to undisclosed parties in agreements valued at $757 million.

ATP-IP settlement marks first joint resolution of CWA, OCSLA claims

ATP Infrastructure Partners LP (ATP-IP) agreed to pay a $1 million fine and perform corrective measures to resolve federal claims that it violated the Clean Water Act (CWA) and Outer Continental Shelf Lands Act (OCSLA), the US Department of Justice, Environmental Protection Agency, and Bureau of Safety and Environmental Enforcement (BSEE) jointly announced.

Newfield exits Granite Wash, expands in Anadarko basin

Newfield Exploration Co. has agreed to sell its Granite Wash assets to Templar Energy LLC for $588 million.

Goodrich TMS well tests at 1,250 boe/d

Goodrich Petroleum Co. reported encouraging results from another well targeting the emerging Tuscaloosa Marine shale (TMS) in Louisiana and Mississippi.

Wolfcamp spending to surpass $12 billion

Capital spending in the Wolfcamp tight oil formation is on track to exceed $12 billion in 2014-making the play the second highest area of investment among US unconventional plays, according to analysis by Wood Mackenzie.

Nova Scotia prepares to extend fracing ban

The government of Nova Scotia plans to introduce legislation this fall that would prohibit high-volume hydraulic fracturing.

Rex purchases 207,000 net acres from Shell in deal that increases Appalachian leasehold

Rex Energy Corp. has signed a $120 million deal to acquire 207,000 net acres prospective to the Marcellus, Upper Devonian Burkett, and Utica shales in Pennsylvania and Ohio from Swepi LP, an affiliate of Royal Dutch Shell PLC.

Combination of Whiting, Kodiak, to create top Bakken producer

The recent acquisition of Kodiak Oil & Gas Corp. by Whiting Petroleum Corp. is set to create the largest producer and most active driller in the Bakken-Three Forks tight oil play.

Antero production surpasses 1 bcfed

Antero Resources has surpassed 1 bcfd of net gas-equivalent (bcfed) production from the Marcellus and Utica shales and secured the gas processing and pipeline capacity needed to meet aggressive production growth targets.

Survey examines Marcellus hiring trends

Marcellus shale companies expect to hire more than 2,000 new employees in 2014, according to a workforce survey released by the Marcellus Shale Coalition (MSC).

AGA will initiate nationwide peer safety, operations reviews

The American Gas Association’s board of directors approved creation of a nationwide peer safety and operations review program beginning in 2015. It will let the more than 200 local distribution companies in AGA observe their peers, share leading practices, and identify opportunities to better serve customers and communities, the trade association said.

Shell expands leasehold position in Marcellus, Utica

Royal Dutch Shell PLC has signed two separate deals that will enable it to exit its positions in the Haynesville shale and Pinedale field in exchange for $2.1 billion in cash and additional acreage in the Utica and Marcellus shales in Pennsylvania.

More-efficient rigs, better completions propel Marcellus production above 15 bcfd

Improvements in drilling and completion techniques, along with additions of regional pipeline and processing capacity, are expected to propel Marcellus shale production even higher in coming years.

Pioneer exits Barnett, to focus on Permian

Pioneer Natural Resources Co., Irving, Tex., has agreed to sell all of its Barnett shale assets in North Texas to an undisclosed private company for $155 million.

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