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Words of Wisdom

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

Tuesday, November 08, 2011

Texas Oil and Gas - News/Information - 11.8.2011

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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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Carrizo net up 69%; production, prices higher
MarketWatch
Increased production, particularly in the lucrative Eagle Ford shale formation in south Texas, has driven Carrizo's revenue growth of late. Many companies in the industry have shifted their focus to unconventional oil and liquids projects to take ...
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Utica Shale Players: Conference Calls Update
Seeking Alpha
The study also showed that the Point Pleasant is similar to the Eagle Ford Shale. Water saturation is only 5%, porosity is a little tighter and the permeability is better than the Eagle Ford. Gulfport will start drilling their acreage in early January. ...
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Oklahoma Earthquake Recharges Fracking Debate
KUT News
By Jessica Mahoney This oil and gas rig is located in the Eagle Ford Shale deposit in DeWitt County, Texas. An earthquake hit outside of Oklahoma City on Saturday night. The magnitude 5.6 quake was the strongest in Oklahoma history. ...
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Ex-enron exec plans $100 million crude terminal
MarketWatch
... will include a rail terminal with the capacity to receive up to 100000 barrels of crude oil and other liquids per day being shipped by rail from recently developed areas such as North Dakota's Bakken Shale and the Eagle Ford Shale, in Texas. ...
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Rosetta Touts Perfect Third Quarter Drilling Success Rate
Oil and Gas Investor (registration)
Strengthened margin performance -- The Company's margins continue to increase from its focus on development of the Eagle Ford shale. As compared to the third quarter of 2010, equivalent average sales prices improved by 18 percent, the depreciation, ...
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Canaccord Genuity Maintains a 'Buy' on EOG Resources (EOG); Q3/11: Strong ...
StreetInsider.com (subscription)
Post Q3/11, we increased our '12 liquids growth expectation 3% to 34% on the back of production momentum in the Eagle Ford and Wolfcamp Shales, where results continue to outpace our expectations. Our growth estimate is 7% above company guidance (27% ...
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Elizabeth Ames Jones: “I have decided to run for Texas Senate District 25.”
Texas Insider
“But I also know that from the Eagle Ford shale, to fiscal issues, to protecting our values, to fighting for higher education, the 25th District needs fresh, strong conservative leadership and I am the candidate who can provide it. ...
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Texas Insider
Carrizo Oil & Gas, Inc. Announces Third Quarter 2011 Financial Results
Middle East North Africa Financial Network
The increase in production from the third quarter of 2010 and the second quarter of 2011 to the third quarter of 2011 was primarily due to increased production from new wells in the Barnett Shale, Eagle Ford Shale and Niobrara Formation, ...
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OPEC sees bright but distant future for shale oil
Financial Post
“To date, only the Bakken oil shale formation in North Dakota and Eagle Ford in Texas have been exploited for a sufficient period of time to have a clear understanding of actual resources and reserves,” the report said. “A number of other deposits are ...
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Carrizo Oil & Gas, Inc. Announces Third Quarter 2011 Financial Results
MarketWatch (press release)
The increase in production from the third quarter of 2010 and the second quarter of 2011 to the third quarter of 2011 was primarily due to increased production from new wells in the Barnett Shale, Eagle Ford Shale and Niobrara Formation, ...
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Quicksilver, KKR plan joint Canadian gas venture
Fort Worth Star Telegram (blog)
Barnett Shale. But development costs at Horn River are substantial, more gas Quicksilver said it has drilled eight horizontal wells into the Muskwa and Klua formations at Horn River, with four of the wells already producing at an average cumulative ...
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Crestwood Midstream Partners LP Announces Third Quarter 2011 Results
MarketWatch (press release)
The volume improvement in the third quarter was most significant on our Alliance System in the Barnett Shale where throughput was up 65% year over year due to the continued expansion of the gathering system, the connection of new wells and the ...
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Quarterly production slips for Ram Energy
Gas Business Briefing
Ram sold its North Texas Barnett Shale and Boonsville assets to Milagro Producing LLC for $43.7m in cash in 2010. Crude oil and NGL production in the most recent quarter was 258000 Bbls, down slightly from 270000 Bbls in the previous quarter. ...
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Quicksilver unveils deal for development in Canada
Fort Worth Star Telegram
The company's output rose 19 percent in the Barnett Shale, where it derives most of its gas production. While Quicksilver drilled only 13 new Barnett wells in the quarter, production was bolstered by connecting 44 wells to pipelines. ...
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Targa Resources Partners' CEO Discusses Q3 2011 Results - Earnings Call Transcript
Seeking Alpha
Activity in the oilier portions of the Barnett Shale in Wise and Southern Montague County's drove the increase at North Texas. The increase at SAOU was driven by increased well connects primarily from the prolific Wolfberry play. ...
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Is Total the Right Stock to Retire With?
Motley Fool
Its joint venture with Chesapeake Energy (NYSE: CHK ) gives it a presence in the Barnett shale play of northern Texas. With increased shale activity in Argentina, Total has staked its claim there, along with rivals including Petrobras (NYSE: PBR ) and ...
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Recent upstream MLP acquisitions favoring gassy assets
Oil & Gas Financial Journal
These deals, grouped with EV Energy Partners' recent acquisition in the Barnett Shale and now Linn Energy's $600 million purchase of mid-continent oil and natural gas properties (90% gas) from Plains Exploration & Production Co. ...
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Interim Charges Give Early Indications on Next Session's Priorities
The Cross Timbers Gazette
Significant progress was made with the funding of an additional 20 air monitors in the Barnett Shale region and the passing of our nation's first fracking disclosure law, but I am extremely thrilled that the Texas House is going to stay focused on this ...
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NYTEX Energy Holdings Inc. Announces Amendment to Bank Revolving Credit, Term ...
MarketWatch (press release)
FDF provides services to oilfield clients in 39 states, and includes the Marcellus, Bakken, Barnett, Haynesville, Fayetteville and Bossier natural gas shale plays. NYTEX Petroleum, Inc. is an exploration and production company focusing on early stage ...
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Shale Seen as Western Canada's New Gas Frontier
NGI's Shale Daily (subscription)
The dominant source in the region remains the Horn River Basin, a colossal shale gas endowment that producers such as Devon Energy and Encana have rated as richer than the Barnett Shale in Texas. Counting only the best parts where the gas content is ...
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GeoResources, Inc. Reports Third Quarter Financial Results
MarketWatch (press release)
As previously indicated, the Company participated in an oily Austin Chalk well located in its Eagle Ford project area in the third quarter. This well, the Tilicek #1H, in which we have a 14.8% working interest, averaged 388 boe/d of production for the ...
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52-Week High & Low Stocks: TRU, COBR, PKT,XIDE, TRGT, QNST
NewsyStocks.com
The company announced sale of the Trust's net profits interests in certain fields from the Cotton Valley and Austin Chalk formations in Texas and the Chalkley field in Louisiana. Shares gained 42.17 percent, or $1.75, to trade at $5.90. ...
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Perry's Plan to Halt Energy Breaks Favors Oil, Gas Producers
Bloomberg
In 2005 he signed a measure that increased the amount of wind- generated power Texas utilities were required to produce, said Terry Hadley, a spokesperson for the state Public Utility Commission. Still, Perry governs in the heart of the oil and gas ...
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Bloomberg
Eagle Ford Oil & Gas Corp signs LOI for Texas oil interest
Gas Business Briefing
Eagle Ford Oil & Gas Corp signed a letter of intent to buy a 60.5% working interest in an undisclosed seller's Texas oil field. The Houston-based independent agreed to pay the seller $21m plus 3m in warrants with a strike price of $0.50. ...
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Dinosaurs, oil, Texas
Kansas City Star (blog)
Before we all get too carried away with the notion that Texas state government is a model of fiscal management, it should be noted that Texas has no state income tax because it has substantial oil and natural gas production taxes. Texas oil is taxed at ...
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The State of North Dakota has Retained EnergyNet, Inc. to Auction Oil and Gas ...
PR Newswire (press release)
AMARILLO, Texas, Nov. 8, 2011 /PRNewswire/ -- (www.energynet.com) –EnergyNet is pleased to announce that the state of North Dakota has retained EnergyNet's services to develop and host an online auction for the state's offering of oil and gas leases in ...
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United American Petroleum Corp. Acquires Remaining 75% of Frio County Project
MarketWatch (press release)
The project lies within the Western Gulf Province, an area which covers 116599 sq mi., affording extensive data on several hundred thousand oil and gas wells. To date, 2518 significant oil and gas fields comprising 3883 reservoirs have been discovered ...
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US Plans Lease Sales in Gulf of Mexico, Offshore Alaska
BusinessWeek
The government will hold 12 lease sales in the Gulf of Mexico and 3 off of Alaska's coast, the Interior Department said today in an e-mailed statement announcing its proposed five-year oil and gas leasing program. The proposal calls for two sales, ...
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Linn Energy to buy Granite Wash oil, gas assets for $600 million
Oil & Gas Journal
By OGJ editors Linn Energy LLC agreed to acquire US Midcontinent oil and natural gas assets from Plains Exploration & Production Co. for $600 million. The acquisition will double Linn's inventory of Granite Wash horizontal drilling sites in Texas and ...
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Imperial Resources, Inc.; SWDF to Commence Commercial Operations This Week
Sacramento Bee
By Imperial Resources, Inc. AUSTIN, Texas, Nov. 8, 2011 -- /PRNewswire/ -- Imperial Resources, Inc. (OTCBB: IPRC) and its wholly owned subsidiary, Imperial Oil & Gas, Inc. (together the "Company", "Imperial") is pleased to announce that its Green Tide ...
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Exxon Executive: US Shale Boom Will Spread Globally
Wall Street Journal
Texas-based Exxon also has shale gas concessions in Poland and it is currently in talks with China to evaluate the country's shale gas potential, Albers said. Other companies are joining the global oil-shale game. On Monday, Repsol YPF SA (REP. ...
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Texas Pacific Land Trust SubShare Certif Reports Operating Results (10-Q)
GuruFocus.com
The dividend yield of Texas Pacific Land Trust Sub stocks is 0.52%. Texas Pacific Land Trust Sub had an annual average earning growth of 7.6% over the past 10 years. Oil and gas royalty revenue was $3683621 for the third quarter of 2011, ...
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US stocks edge up
Financial Times
By Ajay Makan in New York Oil and gas driller Pioneer Natural Resources sunk 3.7 per cent to $88.60, after the company announced a $5.5m secondary share offering late on Monday, which will dilute existing shareholders. Pioneer said it would use the ...
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Shale Oil - The New Energy Boom
Investment U
And it's only since the advent of hydraulic fracking and horizontal drilling that it's possible for this formation to be exploited for the oil and natural gas it contains. According to El Paso County assessor Mark Lowderman, there have been over 2200 ...
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Oklahoma oil and gas drilling
Tulsa World
Texas: Whiting Oil & Gas Corp., Hovey Morrow Unit No. 40-2 Well, SE/4 NW/4 SW/4 SW/4 of 23-05N-13E, TD 9700 feet. Pottawatomie: New Dominion LLC, Baker-Hyden No. 1-25H Well, SE/4 NW/4 SE/4 SW/4 (SL) of 24-11N-06E, TD 9617 feet. ...
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Texas voters to decide 10 constitutional amendments, including plan to create ...
The Republic
Supporters, including The Nature Conservancy and some in the oil and gas industry, said the increased bonding authority for the Texas Water Development Board is necessary to update water utilities and to pay for the state water plan. ...
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Victory Energy Begins Operations at Jones County Rosenquist Well
MarketWatch (press release)
Supported by 82-square miles (52480 acres) of 3D seismic imaging, the oil-focused Jones County prospect in north central Texas is targeting 20-45000 barrels of recoverable oil per well with natural gas as a secondary target. Some wells are expected to ...
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Fluor Acquires Texas-based Sulfur Technology Company
MarketWatch (press release)
The Tyler, Texas-based company provides sulfur technologies for upstream gas plants, downstream refineries and gasification. The acquisition is consistent with Fluor's ongoing evaluation of pursuing companies in key areas to support the oil and gas ...
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1 Energy Stock I'm Buying Today
Motley Fool
Permian basin: 1 million net acres in New Mexico and Texas with up to 1 billion barrels of oil equivalent. Canadian exploration: 4 million net acres of Cardium (light oil), Viking (light oil), and Lower Cretaceous zones (liquids-rich gas). ...
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6 Must-Buy Justifications To Buy Linn Energy
Seeking Alpha
Based in Houston, Texas, the company mainly operates in the oil and natural gas production areas in the Mid-Continent, Permian Basin, Californiand Michigan. Linn Energy develops its core modus operandi by focusing on certain important factors which are ...
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Industry leaders Harry Holmes and Rob Neblett join Avison Young in Houston
MarketWatch (press release)
"Their outstanding tenant-representation service and relationships with oil and gas firms will help Avison Young integrate its North American services for energy companies, thus furthering our client-centric focus. These services for North American ...
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Throwback to the Wild West? Texas agency proposes letting employees carry guns ...
The Republic
The commission's primary purpose is to approve and oversee the permitting of oil and gas wells. It has no oversight of railroads. Texas has one of the more liberal concealed handgun laws in the country. Residents who carry a license are also allowed to ...
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RAM Energy Resources (RAM) Shares Upgraded to a "Outperform" Rating by Rodman ...
LocalizedUSA
RAM Energy Resources, Inc. is an independent oil and natural gas company engaged in the acquisition, development, exploitation, exploration and production of oil and natural gas properties, primarily in Texas, Louisiana and Oklahoma. ...
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Gastar Exploration has the Highest Revenue Per Employee in the Oil & Gas ...
Financial News Network Online
Gastar Exploration Ltd. is a natural gas exploration company. The Company explores for natural gas in Texas and West Virginia in the United States, and in Australia. Gastar owns and operates coal bed methane properties in the Powder River Basin in ...
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10-K/A: DALECO RESOURCES CORP
Middle East North Africa Financial Network
Approximately 85% of the decrease in total oil and gas production is related to the aforementioned items affecting the wells operated in Texas and the remaining 15% of the decrease in total oil and gas production approximates the anticipated decline in ...
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Fuel Building for an Economic Recovery
msnbc.com
Oil and gas shale production by companies like Kodiak Oil & Gas and Range Resources has grown from almost nothing at the beginning of the recession to a fevered pitch recently. Deepwater drilling by companies like SeaDrill and ATP Oil & Gas have helped ...
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Exxon Mobil: Dividend Stock Analysis
Seeking Alpha
Exxon Mobil (NYSE: XOM) is one of the largest public companies in the world, and focuses on oil and gas exploration. Overall, I consider the current stock price of under $80 to be a solid buy. The charts below show revenue, EPS, and dividend growth ...
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VME Process and Repsol partner in Trinidad
Offshore Oil and Gas Magazine
TYLER, Texas – VME Process is working with Spanish oil and gas company Repsol to increase production capacity on recently-acquired platforms in the Teak, Samaan and POUI oil fields off southeastern Trinidad. VME will supply three oil separator skids, ...
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IPO Preview: Chesapeake Granite Wash Trust
Seeking Alpha
CHKR is an oil/gas trust limited to the Colony Granite Wash formation in the Northern Texas Panhandle with both producing wells and development wells. CHKR is sponsored by Chesapeake Energy (CHK), which has a $19 billion market capitalization. ...
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IPO Preview: LRR Energy, L.P.
Seeking Alpha
LRE is a oil and gas limited partnership controlled by a private equity firm. Limited partnerships with a strong operating company usually perform better than partnerships controlled by a private equity firm. The parent/sponsor has cash available for ...
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Chesapeake Pipeline Announcement Stirs Industry, Officials
State Journal
Corky DeMarco, president of the West Virginia Oil and Natural Gas Association, said it was unfortunate Chesapeake would pipe its gas to Texas, but said the company really has few other options. "Are we disappointed that Chesapeake has decided to send ...
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U.S. Government Confirms Link Between Earthquakes and Hydraulic Fracturing
OilPrice.com
In Lincoln County, where most of this past weekend's seismic incidents were centered, there are 181 injection wells, according to Matt Skinner, an official from the Oklahoma Corporation Commission, the agency which oversees oil and gas production in ...
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GeoResources Inc. Reports Operating Results (10-Q)
GuruFocus.com
In August 2011, the Company closed an acquisition of producing oil and gas properties located in the Austin Chalk trend of East Texas. The purchase price was $11 million plus closing adjustments for normal operating activity. ...
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After Keystone Rally, Environmentalists Equivocate on Campaigning for Obama
TMC Net
... and social issues — is petitioning the President to put a stop to the project, saying, “The Canadian oil and gas company TransCanada hopes to begin building a new oil pipeline that would trek about 1700 miles from Alberta, Canada, to Texas. ...
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