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Kinder Morgan to combine its family of companies

Jonathan Fahey | The Associated Press NEW YORK — The group of oil and gas pipeline and storage companies controlled by Kinder Morgan but traded separately will combine and become the 4th biggest U.S. energy company by market value. The companies announced Sunday that Kinder Morgan Inc., Kinder Morgan Energy Partners, Kinder Morgan Management and El Paso Pipeline Partners will ...

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Devon Energy adds 22 new wells

Zach Ponce | The Carslbad Current-Argus ARTESIA — Devon Energy added 22 new wells in the Bone Springs oilfield between April and June, a sign that the oil and gas company headquartered Oklahoma City is ramping up its production in Southeastern New Mexico. Additional pumping in the area located in the northeastern portion of Eddy County averaged 660 barrels of ...

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National Fuel Gas profits climb 10 percent

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David Robinson | The Buffalo News Higher earnings from its pipeline and gathering systems that transport natural gas helped National Fuel Gas increase its third-quarter profits by 10 percent, the Amherst-based energy company said. The earnings matched analyst forecasts, and National Fuel revised its profit forecast for the current fiscal year to the lower end of its previously issued guidance. ...

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GE buys Kansas oil reserves

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Staff Report | The Connecticut Post Stamford-based GE Energy Financial Services has struck a deal with Casillas Petroleum to buy oil and gas reserves in Kansas owned by Cimarex Energy. Financial terms of the deal, the first agreement between GE and the Tulsa, Oklahoma-based Casillas, were not disclosed. The deal gives the GE-Casillas partnership more than 500 producing wells located ...

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Stocks stabilize as energy sector rebounds

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NEW YORK (AP) — Stocks are stabilizing as energy prices rebound. The stock market had dropped to its lowest level since May the day before as Russia massed troops near its border with Ukraine. Molson Coors jumped 6 percent after reporting strong earnings. The Standard & Poor’s 500 index rose six points, or 0.3 percent, to 1,926 as of midday ...

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Utica production soaring for Chesapeake

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Shane Thielges | Shale Plays Media Chesapeake Energy reported lucrative production gains on its Utica shale properties today as part of its second-quarter earnings report. Oil and gas production rose 373 over the same time period last year, and 34 percent over the previous quarter, reports Shane Hoover of CantonRep.com. That sets Chesapeake’s production at around 67,000 barrels of oil ...

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Continental Resources’ quarterly profit falls

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Lydia Gilbertson | Shale Plays Media Google+ Reuters reported Tuesday that Bakken giant Continental Resources’ quarterly profit has fallen 68 percent.  Continental Resources is the second largest oil producer in the Bakken shale, just behind Whiting Petroleum. Its second-quarter adjusted profit rose 13 percent, largely due to its’ 24 percent increase in production. Continental Resources now produces 167,953 more barrels ...

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U.S. trade deficit narrows as petroleum imports fall

WASHINGTON (Reuters) – The U.S. trade deficit narrowed more than expected in June as petroleum imports dropped to a 3-1/2 year low, suggesting that trade was less of a drag on second-quarter economic growth than initially thought. The Commerce Department said on Wednesday the trade gap dropped 7.0 percent to $41.5 billion, the lowest reading since January. May’s trade deficit ...

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Acquisition to give 23,000 acres to Vanguard Natural Resources

Marissa Hall | Shale Plays Media An agreement between Vanguard Natural Resources, LLC (VNR) and Hunt Oil Company this week will provide 23,000 acres of land with VNR. The acquisition, expected to be complete by October 1, 2014, produces 17.5 MMcfe per day from the Haynesville shale. Bob Cramer for Bidnessetc.com reports: The acquisition is valued at $278 million will ...

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