LOGA News

EXCO posts weak Q4, pulls out drilling rigs

_ Exco Resources Inc posted a lower-than-expected adjusted quarterly profit hurt by depressed natural gas prices, and said it plans to significantly reduce drilling during the year. The Dallas-based company said it plans to operate an average of nine rigs in the Haynesville shale and three in Marcellus, down from 22 and four, respectively. The company, which [...]

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LOGA chief: US to lead oil and gas production by 2020

_ The United States is expected to be the world’s top oil and gas producer by 2020, provided the federal government restores access to exploration sites, permits the industry to expand technology and realize that oil and gas is the primary energy source and key provider for a strong economy. That projection was made by Louisiana Oil [...]

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Anadarko Picks Ex-Banker as CEO After Hackett’s Reign of Growth

_ Anadarko Petroleum Corp. anointed a former investment banker as its new chief executive officer as the company’s growth in U.S. shale fields and deep-water projects has secured its spot as the largest U.S. independent oil and natural-gas producer. Chief Operating Officer Al Walker, a former investment banker at UBS AG who joined Anadarko six years ago, [...]

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Encana could drill six more wells by midyear

_ Encana Corp. said Friday it plans to drill up to six more wells in the Tuscaloosa Marine Shale during the first half of the year after encouraging results from its first two in the oil-rich formation. Encana’s announcement comes a day after Devon Energy, which has completed two wells in the Tuscaloosa Marine Shale, said [...]

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Encana finds shale gas partner in Mitsubishi

_ Encana Corp (ECA.TO) will sell a 40 percent stake in British Columbia gas assets to Japan’s Mitsubishi Corp (8058.T) in a C$2.9 billion ($2.9 billion) deal that will help the Canadian company shore up a balance sheet battered by weak gas prices. The agreement to sell Mitsubishi a stake in the massive Cutbank Ridge field in [...]

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LOGA addresses the oil and gas industry issues

_ The Louisiana Oil and Gas Association (LOGA) met on Thursday, Feb. 16 to confront the big issues surrounding the oil and gas industry. Topics such as fracking, offshore drilling and President Obama’s plan to move to cleaner energy were talked about. The meeting was part of an effort to educate local professionals on the current state of [...]

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Oil and Gas Association leader touts progress

_ The oil and gas industry has made technological strides in recent years, but exploration and production are threatened by government regulation and by lawsuits, a trade group leader said Thursday. “We are at a major point in the oil and gas industry,” said Don Briggs, president of Louisiana Oil and Gas Association. “We are right in the middle of history being [...]

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BlackRock increases stake in Brown Dense drilling operations

_ The world’s largest money manager has increased its stake in several companies that stand to make a lot of money if drilling in the Lower Smackover Brown Dense oil formation in south Arkansas and north Louisiana proves successful. According to filings made public Monday by the U.S. Securities and Exchange Commission, New York City-based BlackRock Inc., [...]

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