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Words of Wisdom

"Time is what we want most, but what we use the worst."
~William Penn

Saturday, November 05, 2011

Texas Oil and Gas - News/Information - 11.5.2011

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Texas Oil and Gas  -  News and Information
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 Eagle Ford Shale, Barnett Shale, Austin Chalk
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Barnett Shale rig report
Fort Worth Star Telegram
XTO Energy, Fort Worth: horizontal off East Long Avenue, south of Northeast Loop 820 and I-35W. XTO Energy: horizontal off Morris Dido Newark Road, southeast of US 287 and Texas 114. XTO Energy: horizontal off Liberty School Road, northwest of US 287 ...
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Oil rigs have record increase for week
Fort Worth Star Telegram
Natural gas rigs fell by 27 to 907, the largest weekly drop since 2009. Total rigs are up 20 percent from a year ago. Rigs in the Barnett Shale inched up two to 55. Tarrant County was the busiest with 21 rigs, followed by Johnson and Jack counties at ...
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Devon's Transition to Liquids Looks Promising
Motley Fool
The Barnett shale continues to lead the way, which also saw oil and natural gas liquids production grow by 15% over last year to 46000 barrels a day. Similarly, Devon's growing operations in the Permian Basin saw liquids production increase to 37500 ...
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Alberta's next bonanza?
Edmonton Journal
In Alberta, the source for most of our oil gushers has been known for decades, a very deep formation of shale rock formed 400 million years ago during the Devonian era when the province was an inland sea. Named the Duvernay by geologists, ...
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Talisman Favoring Eagle Ford Over Marcellus
NGI's Shale Daily (subscription)
Believing natural gas and oil prices will stay at their current levels "for a while," Talisman Energy Inc. could shift money from the Marcellus and Montney shales to the Eagle Ford Shale next year as its focuses on liquid-rich plays, CEO John Manzoni ...
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Halliburton in the game
Petroleum News
How does 200 wells compare to the number of wells drilled in the Bakken and Eagle Ford shale plays? According to Duncan, more than 200 wells are drilled each month in both South Texas' Eagle Ford and North Dakota's Bakken.
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10-Q: PIONEER NATURAL RESOURCES CO
Middle East North Africa Financial Network
These two wells are expected to test longer lateral lengths and additional fracture stimulation stages in the Wolfcamp Shale interval. South Texas and Eagle Ford Shale area. The Company's drilling activities in the South Texas area during 2011 continue ...
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Letters: Realities of energy growth
Houston Chronicle
The wells drilled in the most prolific plays - like the Eagle Ford Shale in South Texas, the Bakken Shale in North Dakota and the Marcellus Shale in Pennsylvania - are not on lands owned by the federal government. They are also, notably, in states that ...
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Tenaris' CEO Discusses Q3 2011 Results - Earnings Call Transcript
Seeking Alpha
This shipment included the first of our new edge 625 connection, which will be run next week in the Eagle Ford shale. We have advanced with the testing program for this integral connection and we are now ready to supply 90% of the sizes required for ...
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Plains Exploration & Production's CEO Discusses Q3 2011 Results - Earnings ...
Seeking Alpha
Lease operating expenses increased approximately $12 million to $80 million in the quarter, reflecting an increased number of producing wells at our Eagle Ford Shale and Panhandle properties, and higher scheduled repair and maintenance and well ...
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Crosstex Energy's CEO Discusses Q3 2011 Results - Earnings Call Transcript
Seeking Alpha
Finally, our strategic investment in Howard Energy Partners with Quanta Services provides us with an important growth platform in the rapidly developing Eagle Ford Shale play, a new geographic area for Crosstex. We're moving ahead with Howard and ...
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Plains All American Pipeline L.P. Reports Operating Results (10-Q)
GuruFocus.com
Our results were most meaningfully impacted by increased drilling activities in the Bakken, Eagle Ford Shale, West Texas, Western Oklahoma and Texas Panhandle producing regions. Volumes also increased as a result of our December 2010 Nexen acquisition, ...
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Chesapeake Eyes JVs for at Least Three More Shale Plays
NGI's Shale Daily (subscription)
Including the Utica JV, Chesapeake in the past three years to date has secured partners to help fund its drilling program in the Haynesville, Barnett, Fayette, Marcellus, Niobrara and the Eagle Ford shales. The new Utica partner also will be disclosed ...
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Plains Exploration to sell some US oil and natural-gas assets for $785 million
domain-B
Plains Exploration & Production will sell some oil and natural-gas assets in Texas and Oklahoma to Linn Energy, for $785 million, as part of its plan to reduce debt. Plains Exploration will sell assets in the gas-rich Granite Wash area of the Texas ...
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Ohio's looming natural gas boom is luring new investors
Akron Beacon Journal (blog)
By Bob Downing One more indication that Ohio is poised for a multibillion-dollar oil and gas boom is new information that companies from Texas and Michigan are making offers to buy up existing royalty rights from landowners. The companies are offering ...
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Encana selling Pavillion assets, local residents with polluted water wells ...
The Republic
So far no link is documented between oil and gas drilling and low levels of hydrocarbons the EPA found last year in 17 water wells in the Pavillion area. Midland, Texas-based Legacy Reserves announced this week it has agreed to pay $45 million for the ...
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Petrolympic Provides Update on Well 80-2V Located in Maverick Basin, Texas
Resource Investing News
Petrolympic Ltd. (TSXV:PCQ) updated on its well 80-2V on the Chittam Ranch property in the Texas Maverick Basin. During drilling of the well, Petrolympic penetrated 7 oil and gas bearing horizons. The Chittam Ranch well is being drilled by Petrolympic ...
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Lawyer: Dimock water unsafe; deliveries should go on
Scranton Times-Tribune
By Laura Legere (Staff Writer) Attorneys for Dimock Twp. families suing a natural gas driller over contamination claims are asking the state's chief oil and gas regulator to reverse his decision allowing fresh water deliveries to the families to end. ...
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10-Q: ROYALE ENERGY INC
Middle East North Africa Financial Network
In February 2009, we entered into a revolving credit agreement with Texas Capital Bank, NA secured by our oil and gas properties, of up to $14250000. We also entered into a separate letter of credit facility with Texas Capital Bank of up to $750000, ...
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Encana sale in Pavillion area raises concerns
Ventura County Star
(AP) - Encana is selling a gas field in central Wyoming where hydrocarbons have polluted water wells and local residents blame the oil and gas industry. The US Environmental Protection Agency has been investigating the pollution and expects to issue a ...
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EPA: Industry must disclose hydrogen sulfide emissions
Summit County Citizens Voice
Earthworks was part of a coalition led by Neil J. Carman of the Texas chapter of the Sierra Club that worked for this reinstatement.. In 2005, Earthworks Oil & Gas Accountability Project (OGAP) measured concentrations of hydrogren sulfide in the air in ...
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Audit: State Inspected Only 65 Percent of High Priority Pipelines
KUT News
By Nathan Bernier, KUT News With 270000 miles of gas and oil pipelines in Texas, how closely do you think the state is monitoring the lines under its supervision? Consider that two deadly pipeline accidents happened last year in Johnson County and the ...
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Energy and Transactions Attorney Douglas F. Pedigo Rejoins Thompson & Knight ...
PR.com (press release)
“His return to the Firm not only expands our energy platform into electric power and other midstream and downstream business sectors, but also further strengthens the Firm's depth and expertise in the oil and gas sectors that Thompson & Knight has ...
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Fracking Earthquakes – The Next Feeding Frenzy
Technorati
These ex-Texas land-sharks are likely circling the fracking fields right now and are sizing up their prey. Like wounded fish, these fracking oil and gas corporations will be overtaken by the feeding frenzy that awaits them. A British energy company, ...
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SemGroup Announces New Board Member
MarketWatch (press release)
Mr. Lytal began his career in 1980 working as an engineer for subsidiaries of Texas Oil & Gas Corp. In 1987, he was employed by American Pipeline Company where he later became Vice President of Business Development. From 1994 to 2004, Mr. Lytal served ...
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Mainland and American Exploration Agree to Extend Merger Agreement
MarketWatch (press release)
Mainland Resources, Inc. is engaged in the exploration of oil and gas resources. The Company's current initiatives are focused on the acquisition and development of acreage in emerging and early developing oil and gas regions with the potential for ...
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Steven Pearlstein: You bet it's another bubble
Washington Post
You thought food was meant to be eaten, oil and gas to be turned into energy, and metals to be turned into cars, bridges and downspouts. You weren't sophisticated enough to realize that these really are just different “asset classes” meant to give ...
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10-Q: STRATUM HOLDINGS, INC.
Middle East North Africa Financial Network
Workover expenses for the nine months ended September 30, 2011 were $207000 versus $311000 for the nine months ended September 30, 2010, representing workovers on CYMRI's South Texas oil and gas properties. This decrease was largely experienced in ...
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Inlet gas find called largest in 25 years
Anchorage Daily News
Due to seasonal drilling restrictions forced by ice, Escopeta suspended drilling Oct. 28. It plans to reopen the well next year and cut its way to the Jurassic. Three other known gas and oil formations -- Tyonek, Sunfish and Hemlock -- are expected to ...
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Obama faces hard choice on Canada-to-Texas pipeline
Fort Worth Star Telegram
But environmentalists insist that if Obama approves the pipeline, he will be wedding the US to a particularly dirty form of oil for decades to come. The oil sands crude the pipeline would carry generates more greenhouse gas emissions from production to ...
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Fort Worth Star Telegram
Tetra Technologies Q3 Profit Rises
RTT News
(RTTNews) - Oil and gas services company Tetra Technologies Inc. (TTI: News ), Friday reported an increase in profit for the third quarter, as a decline in revenues were more than offset by higher gross margins, driven by strong performances at ...
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The energy superpower that isn't
National Post
The United Kingdom, meanwhile, is sitting on what is widely viewed as a massive shale gas reserve. How do Canada's oil sands stack up against the shale revolution? Energy Business Reports, in a study titled Oil Sands, Gas and Oil Shales Market, ...
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Stocks Beating Wall Street This Earnings Season
Wall St. Cheat Sheet
About the company: Concho Resources Inc. acquires, develops and explores for oil and natural gas properties in the Permian Basin area of Southeast New Mexico and West Texas. Consolidated Graphics, Inc. (NYSE:CGX): The company reported earnings per ...
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Doggett wins backing of national Dems
San Antonio Express
But Canseco spokeswoman Valentina Weis said the congressman voted to strengthen Medicare, and she criticized Democrats for dismissing the oil and gas industry, where “jobs are being created every day.” “This is just another attempt by Democrats to ...
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10-Q: EAGLE ROCK ENERGY PARTNERS LP
Middle East North Africa Financial Network
The oil and natural gas properties acquired from Crow Creek Energy are located in multiple basins across Oklahoma, north Texas and Arkansas (the "Mid-Continent Properties") and provides us with an extensive inventory of low-risk development prospects. ...
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Cabot's Low Cost Marcellus Production Offers Upside
Seeking Alpha
One of the cheapest formations being tapped is the Marcellus Shale, making independents such as Cabot Oil and Gas Corp (COG) attractive. Cabot has been laser focused on building out its assets in the Marcellus Shale. This year, it sold high production ...
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Weekly News Roundup: BP plc (NYSE:BP)
StocksandShares.TV
Veli-Matti Reinikkala, head of ABB's Process Automation division said, “Our long history in improving oil and gas operations and our successful working relationship with BP plc (NYSE:BP) Norway were key factors to win this important agreement. ...
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Torch Energy Royalty Trust Announces Entry Into Letter of Interest
PR Newswire (press release)
The Trust's underlying properties are depleting assets consisting of net profits interests in proved developed oil and gas properties located in Texas, Alabama and Louisiana. Approximately 97% of the estimated reserves are gas. ...
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This Natural Gas Stock Is Quickly Purging Assets
Motley Fool
The North Texas assets Encana sold were dry gas assets in the Barnett Shale play, an area that many producers have begun to abandon for the oil and natural gas liquid rich properties in other parts of Texas. As of the middle of October, there were only ...
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Parabolic SAR Buy Signals - USM, VVC, WES, WNR
Retirement Planning
Western Gas Partners, LP (the Partnership) is a master limited partnership (MLP) organized by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets. With midstream assets in East and West Texas, the Rocky Mountains ...
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10-Q: CONSTELLATION ENERGY PARTNERS LLC
Middle East North Africa Financial Network
At September 30, 2011, our oil and natural gas reserves were located in the Black Warrior Basin of Alabama, the Cherokee Basin of Kansas and Oklahoma, the Woodford Shale in Oklahoma, and the Central Kansas Uplift in Kansas and Nebraska. ...
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South Fayette commissioners want three barred from driller's case
Pittsburgh Tribune-Review
Texas-based Range Resources, which has offices in Cecil, holds gas leases on thousands of acres in South Fayette. It wants the board to overturn the oil and gas ordinance, claiming its setback restrictions and requirements for drilling pads effectively ...
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Believe in Heroes - Wounded Warrior Project
EIN News (press release)
[read more] Featuring a world class lineup of speakers, covering all types of direct investments in resource public companies, speculative investing, resource exploration, oil & gas, world outlook, investment ... [read more] Do you agree with Greek ...
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SandRidge Energy's CEO Discusses Q3 2011 Results - Earnings Call Transcript
Seeking Alpha
The criteria include proven oil and gas in plays, commercial development of thousands of vertical wells, control of reservoir thickness and shallow depth. We're now preparing to talk to potential partners. The level of interest we received suggest that ...
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Texas oil company to plead guilty in ND duck death
CanadianBusiness.com
Four other oil companies charged with killing birds during drilling operations in North Dakota have pleaded not guilty. They are ConocoPhillips Co., of Houston; Newfield Production Co., of Houston; Brigham Oil and Gas LP, of Williston; and Continental ...
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High School Coach Dies In Church Boxing Match
ABC News
It makes me cry when I think about it," said Levenson, who knew George Clinkscale when he was a college student working for Levenson's other business, an oil and gas company. "He always had a bubbling personality – everybody liked George. ...
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