Halcon to release first-quarter results
Halcon Resources Corp. will announce its first-quarter financial results, which could have significant implications for the company’s future in the Mahoning Valley.
The Houston-based company announced in March that it would not move any more rigs into the region, pending results from two wells here. The outcome, expected by the end of the first quarter, could be reported in the driller’s earnings release, scheduled for May 7, after the markets close.
Halcon also has scheduled a conference call for May 8 to discuss the report.
Denver-based Antero resources announced it will anchor the supply of ethane to the proposed Ascent petrochemical complex in Wood County, W.Va.
According to an Antero statement, the company plans to provide 30,000 barrels of ethane a day to Ascent, which represents almost half the volume required to operate the proposed cracker plant in Parkersburg, W.Va.
Ascent, the Appalachian Shale Cracker Enterprise, is still considering the project’s feasibility.
Joint venture to drill 186 wells in wet-gas region of Utica Shale
EnerVest subsidiary EV Energy Partners, along with its joint venture partners Chesapeake Energy and Total, plans to drill 186 wells in the Utica Shale’s wet-gas region.
The wells will add to the 370 already drilled by the joint venture. Of those, 300 are currently online.
Together, EV Energy Partners and EnerVest have 158,000 acres in Ohio and 15,000 in Pennsylvania. About 28 percent of the total acreage is in the wet-gas window, and 47 percent lies in the oil window.
McClendon hires his former company
Aubrey McClendon, the former CEO of Chesapeake Energy, is leasing seven drilling rigs from his former company to drill wells in the Utica Shale play for his new venture, American Energy Partners LP.
The agreements, reached in October, dictate that American Energy will pay Chesapeake between $23,000 and $26,000 for each rig, once they are in operation.
McClendon resigned from Chesapeake in April 2013 amid internal controversy surrounding personal loans and governance. The company confirmed that McClendon received a severance package valued at more than $53 million.
MarkWest Energy Partners LP is set to announce its 2014 first-quarter financial results after the markets close May 7.
The company, which is engaged in the gathering, processing and transportation of natural gas, crude oil and natural-gas liquids, will follow that announcement with a May 8 conference call.
A replay of the conference call will be accessible on the MarkWest website, www.markwest.com, or by dialing 800-688-2171.
Consol Energy reported record production of 48.4 Bcfe (billions of cubic feet equivalent) of natural gas in the first quarter of 2014, with the Marcellus Shale driving most of its growth.
Consol’s gas production in the first three months of the year exceeded production during the same period of 2013 by 23 percent, the company reported. Production in the Marcellus Shale alone accounted for 20.7 Bcfe, nearly doubling the 10.7 Bcfe rate during the same time last year.