A recent ruling on the Marcellus shale could bring the legality of thousands of oil leases into question.
Financial services firm Raymond James announced on September 13 that it is reluctantly downgrading Geokinetics Inc. (GOK:AMEX) to Market Perform from Outperform based on a recent accident in Mexico which caused at least three deaths.
Penn West (PWT:TSX) recently held its analyst day in Calgary, but research firm Macquarie Equities Research's Outperform rating and target share price for the company were unaffected by the event.
Equities research firm Macquarie Equities Research maintained its rating of OUTPERFORM and its target share price of C$5.50 for junior exploration and production company Storm Resources.
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 recent decision by oil and gas company Clayton Williams Energy, Inc. (CWEI) to reduce capital expenditures and cut back production could potentially be part of a broader market trend for oil and gas companies.
The Eagle Ford play in southeast Texas presents local refineries with the opportunity to get crude oil at lower costs than using imported oil.
The West Virginia Department of Environmental Protection filed an emergency rule on August 22 that will impact natural gas extraction from the Marcellus shale.