Canadian brokerage firm Canaccord Genuity recently released a report maintaining its BUY recommendation and C$6.25 target share price for oil and gas company Pinecrest Energy (PRY:TSXV).

If the Utica shale deposit holds the same amount of reserves that some industry insiders predict, it could potentially revive oil production in the area and improve the condition of the ailing East Coast refining industry.

Local water districts in Texas are restricting the use of water for exploration and production companies that engage in hydraulic fracturing or "fracking."

The Upper Devonian geologic, which lies just above the giant Marcellus shale, potentially holds as much gas as the Marcellus, a top manager at Range Resources said recently.

The cost involved in drilling a well in the Eagle Ford shale has soared from approximately $5.3 million to as much as $10 million, according to an expert in exploration and production.

Activity related to the Tyler Formation is spilling from North Dakota to South Dakota, amid industry speculation that the play could contain significant crude reserves.

Calgary-based junior exploration and production company Cequence Energy Ltd. (CQE:TSX) reported cash flow per share (CFPS) of C$0.07 for 3Q11 and production of 9,745 barrels of oil equivalent per day.

Icarus failed to escape with his father from Crete because he flew too close to the sun. Now, some oil companies are now hoping that getting closer to the sun will bring them success.