The company estimates that QEP Energy should deliver 12 to 14% organic production growth in 2012.

"Both James Welch and Jeffery Gross bring a wealth of experience in water solutions and water reuse technology as well as great leadership in business development to our Water Solutions Management team," says John Schmitz, CEO.

Magnum Hunter reported an increase in total revenues of 310% for the third quarter of 2011 compared to the third quarter of 2010.

The increase in throughput was driven by the Haynesville Springridge gas gathering system acquired in December 2010 and strong well-connect performance in both the Barnett Shale and Mid-Continent regions.

The company's order book has grown to its highest level since late fiscal 2008 with added projects in the Eagle Ford, Bakken, Niobrara and Avalon liquids and oil-rich shales and demand for the company's services remains strong.

Average net daily production for the third quarter of 2011 was 1,306 BOE/D, a 16% increase sequentially from the second quarter of 2011.

The year-over-year increase is a result of a 19% increase in production from the company's Barnett Shale asset and an increase of over 200% in our Horn River Asset in Northeast British Columbia.

Segment gross margin for Texas increased 43% to $44.5 million for the third quarter of 2011 compared to $31.2 million for the third quarter of 2010 and decreased 3% from $46.1 million for the second quarter of 2011.

In addition, the company's new record is nearly double the peak daily production rate of 73 MMcfe per day achieved during the third quarter 2010.

Chairman, chief executive officer and president Fred Barrett comments: "Solid execution on strategies to increase the oil mix in our portfolio continued in the third quarter.

For the first nine months of 2011, production was 22.2 Bcfe (81.2 MMcfe/d), compared to 23.0 Bcfe (84.3 MMcfe/d) for the comparable period of 2010.

"Results for the third quarter are in line with our recent operational update and we continue to build volumes through the fourth quarter," says John A. Manzoni, president and chief executive officer.

"Our businesses are delivering excellent operational results," said Doug Foshee, chairman, president and chief operating officer of El Paso Corporation.

For the third quarter of 2011, net production was 545,362 barrels of oil, 196,418 thousand cubic feet (MCF) of natural gas and 505,270 gallons of natural gas liquids (NGL), or 590,128 BOE.

Total company liquids production increased 49% in the third quarter 2011 over the same period in the prior year and 47% year-over-year for the first nine months of 2011.