Accept

Shareholders of Nexen Inc. last week voted to accept a $15.1 billion takeover offer by CNOOC Ltd., an arm of state-controlled China National Offshore Oil Co.

Shareholders of Nexen Inc. voted to accept a C$15.1 billion (U.S. dollar at par) takeover offer by CNOOC Ltd., an arm of state-controlled China National Offshore Oil Co.

Directors of Australia-based Eureka Energy Ltd. have rejected a proposal from Fort Worth-based Lonestar Resources Inc. for Eureka to acquire Lonestar for scrip consideration. Eureka said it had expected to reject the proposal when it was received last week. “Nevertheless, over the weekend the company pursued discussions with Lonestar with the objective of securing a proposal on more favorable terms,” Eureka said. “The parties were unable to agree on terms, and consequently Lonestar has withdrawn the proposal.” An offer by Australia’s Aurora Oil & Gas Ltd. to acquire Eureka expires Friday (see Shale Daily, June 11). Both Aurora and Eureka have assets in the Eagle Ford Shale of South Texas, as does Lonestar. On Wednesday Eureka said “it is reasonable to accept” the Aurora offer after previously recommending that shareholders reject it.

Civility reigned as the Susquehanna River Basin Commission (SRBC) held a public hearing in Harrisburg, PA, on Thursday to accept comments on 26 pending water withdrawal permits, most of which were submitted by operators in the Marcellus Shale.

Mexico’s state-owned petroleum company, Petroleos Mexicanos (Pemex), announced Friday that it will accept bids for a new round of private exploration and production (E&P) contracts in early January.

Environmentalists say Delaware Gov. Jack Markell will be in a key position to oppose hydraulic fracturing (fracking) when the Delaware River Basin Commission (DRBC) meets on Monday, but they admit they are unsure of where he stands on Marcellus Shale development within the basin.

The Delaware River Basin Commission (DRBC) later this month plans to consider adopting water quality regulations that would apply to all natural gas development projects in the basin, including the construction and operation of all gas wells, regardless of the target geologic formation, whether a well is for production or exploration, or whether high-volume or low-volume hydraulic fracturing (fracking) is being considered.

Enstor Operating Co. LLC said Friday it would begin accept bids for firm natural gas storage capacity at its four U.S. facilities through Oct. 20 for terms of one to five years beginning April 1.

A major Pennsylvania water company said “a full battery of tests” found no harmful impact on supplies from Marcellus Shale development.