Cabot Oil & Gas Provides Marcellus Update, East Texas Waiting on Frac Proppant

Cabot Oil & Gas Corporation announced that its Marcellus initiative in northeastern Pennsylvania is gaining momentum and is currently producing over 13 Mcfe per day. Most recently, Cabot completed its first Marcellus horizontal well with a measured depth of 8,925′ and a horizontal leg at 2,000′ using a six-stage frac. The result was a 24-hour average initial production rate of 6.4... 

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StatoilHydro forms strategic alliance with major US gas player

StatoilHydro, the second largest natural gas supplier to Europe and Chesapeake Energy Corporation, the largest US natural gas producer, today announced the signature of a strategic agreement to jointly explore unconventional gas opportunities worldwide. Under these agreements StatoilHydro will initially acquire a 32.5% interest in Chesapeake’s Marcellus shale gas acreage covering 1.8 million... 

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Three Forks/Sanish Well Produces Over 1,750 Barrels A Day

XTO Energy Inc. announced production results from wells drilled in multiple regions on its newly acquired property base. In the Bakken Shale play of North Dakota, the Company has now completed 5 wells with average production rates of 673 barrels of oil equivalent per day, primarily producing from the Middle Bakken shale section. In addition, a Three Forks/Sanish discovery well, the DeAngelis 41x-21,... 

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Atlas Energy Resources’ Production of Natural Gas from Marcellus Shale Wells Exceeds 4 Bcf

Atlas Energy Resources, LLC announced that it has completed the drilling of 98 wells to the Marcellus Shale formation, of which 90 wells, some of which have been online for two years, currently have normalized production approaching 25 million cubic feet (“Mmcf”) per day into a pipeline. The remaining 8 wells will be turned into line by the end of year. The aggregate production from these wells... 

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Chief Oil & Gas Welcomes Delivery of New Drilling Rig

Chief Oil & Gas and Union Drilling, Inc. unveiled the new AC QuickSilver drilling system in Lycoming County, Pennsylvania, the first-of-its-kind rig designed for horizontal natural gas drilling in the Marcellus Shale. “This is an exciting time for Chief Oil & Gas and the Commonwealth of Pennsylvania,” said William Buckler, Senior Vice President of Operations for Chief Oil &... 

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Patterson-UTI Reports Drilling Activity for August 2008

PATTERSON-UTI ENERGY, INC. reported that for the month of August 2008, the Company had an average of 278 drilling rigs operating, including 265 rigs in the U.S. and 13 rigs in Canada. For the two months ended August 2008, the Company had an average of 273 drilling rigs operating, including 261 rigs in the U.S. and 12 rigs in Canada. Average drilling rigs operating reported in the Company’s monthly... 

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Anadarko enters West Texas exploration venture with Chevron

Anadarko Petroleum Corporation has entered an exploration joint venture with Chevron U.S.A. Inc. on approximately 200,000 net mineral acres Chevron owns within the Delaware Basin in west Texas. The acreage overlaps and extends westward from Anadarko’s existing leasehold, which includes the rapidly growing Haley natural gas field. Under the agreement, Anadarko will serve as operator and earn up... 

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Friendly Energy Corp.: Oil and Gas Drilling Subsidiary Established

Friendly Energy Corp. (Other OTC:FDEG.PK) announces today that the company has created a wholly owned subsidiary, for the purpose of establishing a Oil and Gas drilling division. Management has entered into discussions with a manufacturing agent for the purpose of contracting the construction and assembly of a drill rig capable of drilling to a total depth of 7500 ft. “The Company is moving into...