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The lawsuit alleges that Oklahoma City-based Chesapeake Energy Corp. tricked landowners into signing one-sided leases in the early years of the Marcellus Shale drilling boom and then improperly deducted certain post-production expenses from landowner royalties.
Despite pumping more oil and gas than it did the same time a year ago, Noble Energy swung to a loss in the third quarter as anemic prices couldn’t offset the higher volumes.
Southwestern Energy Co. says it is figuring out ways to drill better-performing wells on West Virginia and Pennsylvania land it bought from larger operators last year, even as energy prices remain cheap.
The Pittsburgh-based company won’t drill new wells in central Pennsylvania and in the Upper Devonian shale basin, which sits atop the Marcellus reservoir in the western part of the state, the company’s CEO said.
Despite the collapse in crude oil and natural gas prices, Noble expects to continue ramping up production through the rest of the year at an increasingly cheaper cost.
Stubbornly low natural gas prices caused Cabot Oil & Gas Corp to lose $27.5 million in the second quarter, but a new pipeline in the works should help the company more easily move its gas to market and fetch better prices, CEO, Chairman and President Dan Dinges said Friday.
The oil and gas industry faces winnowing options for getting rid of the wastewater that flows out of wells, as the EPA moves to block municipal treatment facilities from accepting it and earthquake fears prompt some states to restrict underground disposal.
The Englewood, Colorado-based company is working with Barclays Plc to find a buyer, said the people, who asked not to be identified because the information is private.
The previously announced Revolution project includes a 100-mile pipeline running through Pennsylvania.
The Houston-based company said it offset plunging prices by ramping up output in the first quarter.