Acceptable

The growth of the Marcellus Shale likely won’t be constrained by market demand, despite a projected seven-fold increase in production from the play over the next 15 years, according to FBR Capital Markets.

OAO Rosneft has given BP plc until Monday (May 16) to negotiate an acceptable alternative to their historic share swap agreement announced in January. The “groundbreaking strategic alliance” to explore Russia’s largely unexplored Arctic region, considered key to BP CEO Bob Dudley’s plan to right the company, would give state-controlled Rosneft around 5% of BP’s ordinary voting shares in exchange for BP receiving 9.5% of Rosneft shares (see NGI, Jan. 17). However, BP already had joint venture (JV) exploration agreements with Alfa-Access-Renova (AAR), a Russian oligarch consortium, in TNK-BP. The group of Russian billionaires disputed the Rosneft alliance, and in March an arbitration tribunal extended an injunction of the agreement (see NGI, March 28). AAR in essence won its case before the tribunal, which said it would allow BP to move forward with the Rosneft share swap only if it agreed to cede its Arctic JV to TNK-BP.

Russia’s leading producer, OAO Rosneft, has given BP plc until next Monday to negotiate an acceptable alternative to their historic share swap agreement announced in January, which in total is estimated to be worth about $16 billion.

Natural gas is not currently a viable solution for most long-haul trucking operations, though it is an acceptable fuel alternative for some short-haul applications, according to trade group American Trucking Associations (ATA).

Natural gas is not currently a viable solution for most long-haul trucking operations, though it is an acceptable fuel alternative for some short-haul applications, according to trade group American Trucking Associations (ATA).

Apache Corp. enters the new year with rising production, cash on its balance sheet and access to credit markets “at very acceptable rates,” CEO G. Steven Farris said last Wednesday as he warned that less well positioned companies could be up for grabs given the tight market for credit.

Apache Corp. enters the new year with rising production, cash on its balance sheet and access to credit markets “at very acceptable rates,” CEO G. Steven Farris said Wednesday as he warned that less well positioned companies could be up for grabs given the tight market for credit.

The Federal Energy Regulatory Commission on Thursday issued a series of rulings that would pave the way for new pipeline and expansion projects proposed by Colorado Interstate Gas (CIG), Southern Natural Gas (Sonat), East Tennessee Natural Gas, Texas Eastern Transmission (Tetco) and Petal Gas Storage LLC.

Continuing for September and until further notice, absent mitigating actions acceptable to the pipeline, any gas received into NGPL’s Louisiana Line (Segments 23, 24 and 25) that contains liquefiable hydrocarbons that might condense in the gas stream and cause the line’s gas quality blend to exceed 1,050 Btus per cubic foot will not be confirmed. Due to a continuing unusually low level of upstream processing, NGPL said, it continues to receive very high deliveries of non-conforming gas. Ten receipt points currently exceeding the quality specification were posted on NGPL’s bulletin board.