More Unconventional News

PNR reports $3.3 billion capex plan for 2014

Feb 11, 2014

Pioneer Natural Resources Co. (PNR), Dallas, reported capital expenditure plans of $3.3 billion for 2014, $2.2 billion of which to be used to target the northern Spraberry-Wolfcamp area the Midland basin of West Texas.

Apache fracs Wolfcamp wells without fresh water in dry Barnhart project area

Feb 11, 2014

At a site in drought-stricken West Texas, Apache Corp. has devised a system to hydraulically fracture wells in the prolific Wolfcamp shale without using fresh water.

PwC: US M&A activity down in 2013 despite strong finish

Feb 10, 2014

The US oil and gas industry finished 2013 strong when it came to mergers and acquisitions, but the late-year push to a total of 182 deals totaling $115.9 billion wasn't enough to match the 212 deals worth $152.8 billion in 2012, PwC US Energy Practice said in a report released Jan. 28.

Hess reports $5.8 billion capital budget for 2014

Feb 10, 2014

Hess Corp. reported that its exploration and production capital budget for 2014 is expected to reach $5.8 billion, almost have of which, $2.85 billion, will be spent on unconventional shale resources.

Energy exports could help national security, new report suggests

Feb 10, 2014

The US should encourage oil and gas exports as part of a broader strategy that also includes accepting the reality of energy interdependence, taking steps to reduce domestic consumption and diversify supplies, and integrating energy security into strategic policy and military planning, a recent report recommended.

Baker Hughes: US drilling rig count dips to 1,771

Feb 7, 2014

The US drilling rig count fell 14 units to 1,771 rigs working during the week ended Feb. 7, Baker Hughes Inc. reported.

Baytex to acquire Aurora for $2.6 billion

Feb 7, 2014

Baytex Energy Corp., Calgary, has agreed to acquire Aurora Oil & Gas Ltd., Subiaco, Western Australia, for $2.6 billion, providing Baytex with 22,200 net contiguous acres in the Sugarkane field in the Eagle Ford shale of South Texas.

Anadarko reports fourth-quarter loss, record yearend sales volumes

Feb 4, 2014

Anadarko Petroleum Corp. reported a fourth-quarter net loss of $770 million, decreasing net income by $1.145 billion.

Haynesville Update—3: Low gas price constrains profitability

Feb 3, 2014

The challenge in all unconventional plays is not to find the deposits but to find the areas that are economically viable and will lead to the best production and recovery volumes at a rate of return that satisfies investor requirements.

ExxonMobil expands Permian acreage, enters Utica agreement

Feb 3, 2014

XTO Energy Inc., a subsidiary of ExxonMobil Corp., has agreed to fund development to gain operating equity in 34,000 gross acres in the liquids-rich Wolfcamp in Texas’s Midland and Upton counties, increasing the company’s holdings in the Permian basin to just more than 1.5 million net acres.

DCP Midstream adding processing in DJ, Eagle Ford basins

Feb 3, 2014

DCP Midstream LLC will add nearly 500 MMcfd of natural gas processing capacity in two liquids-rich US basins, the company reported.

Eagle Ford crude prompts upgrades at Valero’s Texas refineries

Feb 3, 2014

Valero Energy Corp., the largest US independent refiner-marketer, plans to invest $730 million in upgrading two of its Texas refineries to process increased volumes of light crude sourced from the Eagle Ford shale.

Devon to raise Eagle Ford shale production by 40%

Feb 1, 2014

Devon Energy Corp. plans to spend nearly $1.3 billion to increase its Eagle Ford shale production nearly 40% in 2014 as the company begins full-scale development of its new position in the booming South Texas play.

BHP executive details big plans for US shale plays

Feb 1, 2014

Australian resource conglomerate BHP Billiton is ramping up its activity in unconventional resource plays in the US. Since entering the US shale business 3 years ago, the company has grown into one of the top producers in the Eagle Ford shale.

BAKKEN Briefs

Feb 1, 2014

Rail a key transportaion link for Bakken crude

Feb 1, 2014

As production in the Bakken tight oil play ramps up at an unprecedented pace, producers are increasingly relying on railroads to bypass overwhelmed pipelines and move crude to market.

MARCELLUS Briefs

Feb 1, 2014

Pennsylvania top state for gas output growth in 2012

Feb 1, 2014

Development of the Marcellus shale has made Pennsylvania the fastest-growing natural gas-producing state, the US Energy Information Administration reported.

Wealth of gas processing, pipeline projects planned for Marcellus-Utica region

Feb 1, 2014

The surge in gas production in the Marcellus shale and imminent follow-on supply from the Utica shale have created a need for processing capacity to extract and fractionate NGLs and pipelines to move the hydrocarbons both within the region and between the producing area and Gulf Coast.

Growing NGL production alters regional pipeline flows, spurs new gas processing capacity in Utica

Feb 1, 2014

Midstream companies like MarkWest Energy are working hard to increase gas gathering, processing, fractionation, and takeaway capacity to service the rising amount of wet gas production from growing shale plays in the Northeastern US.

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