El Paso Corp. has decided to go it alone in developing its profitable Eagle Ford Shale acreage and has scuttled plans to take on a joint venture (JV) partner.
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SemGas LP has signed an agreement with Eagle Energy Co. to gather and process natural gas from its dedicated acreage in Region 1 of the Anadarko Basin in northern Oklahoma, the Tulsa-based SemGroup Corp. The agreement includes the installation of a 30 MMcf/d cryogenic plant in Hopeton, OK facility to support Eagle’s drilling activities into the Mississippi and Hunton geological formations. SemGas will continue to support Eagle’s drilling activity from its Nash, OK facility with further expansion capabilities available as needed, the company said. Founded in 2009, Eagle focuses on acquiring and drilling properties in the Mid-Continent. Its primary activity focuses on horizontal drilling in the Mississippian formation, where it has a leasehold position exceeding 50,000 acres and production weighted 60% oil. Eagle also has more than 50,00 net acres (primarily gas) in the Hunton Lime and Woodford Shale resource plays.
Gas Glut? BG Group Doesn’t Think So
Global gas producer BG Group plc, which has substantial production under way in the Haynesville Shale and growing output in the Marcellus, said Tuesday its net production in the United States by 2015 will nearly double to 190,000 boe/d from the current 100,000 boe/d.
Overspending by E&Ps Slams Company Values, Says Analyst
Domestic exploration and production (E&P) companies often spend too much money and in turn deplete company value by chasing growth, acreage and reserves when they instead should focus on efficiency, returns and margins, the energy team at Tudor, Pickering, Holt & Co. Inc. (TPH) said Tuesday.
More Microturbines Powering Shale Operations
Less than a month after receiving a 3 MW order from a large independent oil and gas company for deployment in the producer’s acreage in the Eagle Ford Shale play in South Texas, Capstone Turbine Corp. said Thursday it has received a follow-on order from the same undisclosed company for six more C1000 Power Packages, accounting for an additional 6 MW.
XTO Buys Petrohawk Fayetteville Assets
ExxonMobil Corp. unit XTO Energy Inc. is picking up the Fayetteville Shale natural gas assets of Petrohawk Energy Corp. for $575 million. The deal puts ExxonMobil at No. 2 in the Fayetteville leaseholder pack.
EXCO to Buy Marcellus Acreage from Chief Oil
EXCO Resources Inc. plans to add to its Marcellus Shale portfolio under a $459.4 million agreement with Chief Oil & Gas LLC.
Williams, Partnership Add to Marcellus, Bakken Holdings
Williams Cos. and separately, Williams Partners LP, on Tuesday completed acquisitions that build their portfolios in the Marcellus and Bakken shales.
ExxonMobil Adds to Haynesville/Bossier Leasehold
ExxonMobil Corp. in July quietly purchased more acreage in the Haynesville/Bossier Shale, a company executive disclosed Thursday.
Concho Continues Permian Oil and Gas Asset Grab
Just one week after Concho Resources Inc. added considerably to its oil and gas acreage in the Permian Basin of New Mexico through its completed acquisition of Marbob Energy Corp. assets, the Midland, TX-based producer said Friday that it has acquired additional oil and gas assets, predominately located on the New Mexico Shelf of the basin, for approximately $285 million.