Shale

Range Sells Interest In Prized Marcellus Leases For $300 Million

[Editor’s note: This is a developing story. Check back for updates.] Range Resources Corp. (NYSE: RRC) said Oct. 15 agreed to sell overriding royalty interest in Washington County, Pa., leases where the Fort Worth, Texas-based company discovered the Marcellus Shale. According to a news release, Ra ...

Permian Producers Talk About Basin’s Growing Pains

HOUSTON—E&P companies in the Permian Basin are seeing production growth as they pursue long laterals and optimized completions, but they are also experiencing growing pains and keeping eyes on what could be the next challenge. Dan Westcott, president of Legacy Reserves, described it as a game of W ...

Oil Lower on Saudi Diplomacy and Supply Concerns

Oil is lower on Monday after an eventful weekend that has the energy markets full of uncertainty. After public condemnation on the investigation of a missing journalist Saudi Arabia has launched a threat of retaliation using their oil supply. Tempers flared within the Kingdom and some comments have ...

Nine Expands With $493 Million Magnum Oil Tools Acquisition

Nine Energy Service Inc. (NYSE: NINE) said Oct. 15 it plans to beef up its completion tools business with the $493 million acquisition of Magnum Oil Tools International Ltd. Magnum is a downhole technology provider that has served the global oil and gas industry for over a decade. Headquartered in C ...

Aspen Midstream To Construct Midstream Infrastructure In Texas’ Austin Chalk Play

Aspen Midstream LLC said Oct. 11 that the company is constructing a large diameter residue pipeline and both a lean and a rich gas gathering system in the Austin Chalk play in Texas. Aspen’s Austin Chalk System is located in the Giddings Field. Producers drilling the Giddings Field are developing ...

US To Serve The Global Energy Marketplace

[Editor's note: A version of this story appears in the October 2018 edition of Oil and Gas Investor. Subscribe to the magazine here.] U.S. shale has developed at a breathtaking pace, yet we see the revolution still ongoing. Prices are recovering and benchmark differentials have reappeared. Hot mon ...

EOG Warns Hedges Will Hurt Third-Quarter Results

EOG Resources Inc. (NYSE: EOG) on Oct. 9 warned of a non-cash loss of $52.1 million in the third quarter on commodity derivative contracts in a filing with the U.S. Securities and Exchange Commission. The Houston-based shale oil and gas producer attributed the hit to a difference between its realize ...

Could US Shale Operators Dig Up More Cash?

If U.S. shale players ditched the “well factory” mentality, opting, for example, not to tie up cash in drilled but uncompleted (DUC) wells, and instead focus on optimized well production systems, they could unlock $10 billion of cash, according to an energy consulting firm. If reinvested, that u ...

Chevron Becomes First Oil Major To Exit Norway

U.S. oil firm Chevron Corp. (NYSE: CVX) will become the first oil major to formally exit the Norwegian Continental Shelf (NCS) as it transfers its last stake in an exploration license, according to a government letter. Oil majors, including Exxon Mobil Corp. (NYSE: XOM), BP Plc (NYSE: BP) and Royal ...

Antero To Simplify Midstream In ‘Win-Win-Win’ Transaction

Antero Resources Corp. (NYSE: AR) said Oct. 9 it will consolidate its midstream affiliate into a simplified corporate structure the Appalachia shale producer anticipates will fuel share buybacks. Antero Midstream Partners LP (NYSE: AM) and its general partner, Antero Midstream GP LP (NYSE: AMGP), ar ...