Antero Resources, a Denver based oil and gas driller, said Monday July 1, 2012 that it has completed the $445 million cash sale of all of its exploration and production assets in the Arkoma Basin to Vanguard Natural Resources LLC.

The assets consisted of 66,000 acres in the Woodford Shaleplay in the Arkoma Basin in Oklahoma and 5,300 net acres in the Fayetteville Shale play in Arkansas, Antero said in a statement.

The assets contained an estimated 251 billion cubic feet of proved developed reserves as of March 31, and 833 producing wells. Read more »

Economists say exploration and production in the Fayetteville Shale have produced $4 billion and 16,000 jobs for the state in a four year time span.

"The natural gas industry came in at a time when the nation was facing a recession and provide jobs, particularly manufacturing at a tough time," said Kathy Deck, director of the Center for Business and Economic Research.

Her research even points out the trickle down effect. When the industry profits, so do the local stores, restaurants and schools. Read more »

When one thinks of the Fayetteville shale, one company name comes to mind immediately – Southwestern Energy. Houston-based Southwestern was the earliest entrant in the Fayetteville shale play and today still has nearly three times the natural gas production of its nearest competitor in the formation. The Fayetteville shale is located on the Arkansas side of the Arkoma Basin and cuts a swath through the north-central part of the state east to the Mississippi River. Read more »

BHP Billiton's petroleum chief executive left the door open to the possibility of a write-down on the company's U.S. shale gas assets on Monday May 14, 2012, but defended their long-term value.

The company will review its assets at the end of the fiscal year on June 30, BHP chief petroleum executive J Michael Yeager told reporters in a briefing on Monday. Read more »