Acres

Chevron Corp. is selling nearly 100,000 net acres in a natural gas-rich area of Wyoming and Colorado as it trims its U.S. onshore inventory.

Exploration heavyweight Noble Energy Inc. proved the second time was the charm Wednesday, after launching its onshore U.S. midstream business above market expectations, breaking a year-long drought for energy partnership offerings.

EOG Resources Inc. agreed Tuesday to pay an estimated $2.5 billion-plus in cash and stock for Yates Petroleum Corp. and affiliates, doubling the Houston-based independent’s position in the Permian Basin’s Delaware play and Powder River Basin.

Continental Resources Inc. agreed to take $222 million from an undisclosed buyer for about 80,000 net acres in North Dakota and Montana, the Oklahoma City-based independent said Thursday.

Two private equity firms and a Canadian pension plan have acquired substantially all of J-W Energy Co.’s upstream and midstream oil and gas assets, plus acreage in the Haynesville Shale and the Rockies, which will be part of a joint venture (JV) between the two firms.

The Pennsylvania Game Commission has agreed to license a 50-foot wide right-of-way in Lebanon County, PA, to Transcontinental Gas Pipeline Co. (Transco) for its Atlantic Sunrise project. In exchange, Transco will convey to the commission 117 acres near game lands in Monroe County, PA, and another 120 acres in Lackawanna County, PA. The company would still be required to pay the agency’s habitat, surface and timber damages, as well as its standard annual license fee for as long as it remains active. The license authorizes 1,320 linear feet of 42-inch diameter natural gas pipeline within the right-of-way that would occupy 1.52 acres. Transco would also use and reclaim an additional 1.32 acres of game lands outside of the easement. The Atlantic Sunrise project would help move natural gas from Northeast Pennsylvania to markets in the Mid-Atlantic and Southeast by expanding the Transco system to add 1.7 million Dth/d of capacity.

The New York Stock Exchange (NYSE) has suspended trading of Atlas Resource Partners LP’s (ARP) common and preferred units. NYSE informed the company last week that it would begin proceedings to delist the company’s units. ARP is now listed on the over-the-counter market. Its common units were trading around 13 cents each on Thursday. The delisting is one part of the company’s financial woes. It has delayed a payment on its borrowing base and exercised its 30-day grace period to pay interest on its senior notes. ARP’s general partner, Atlas Energy Group LLC, was also delisted in March and is currently trading over-the-counter (see Shale Daily,March 21). ARP has producing wells and reserves in 17 states, which include assets in the Barnett, Eagle Ford, Marcellus and Utica shales.

The Bureau of Land Management approved 4,228 permits last year to drill for oil and natural gas, 10% more year/year, bringing the total number of approved — but unused — permits to a record 7,500. Federal officials acknowledged that low commodity prices negatively impacted drilling activity.

The Bureau of Land Management approved 4,228 permits last year to drill for oil and natural gas, 10% more year/year, bringing the total number of approved — but unused — permits to a record 7,500. Federal officials acknowledged that low commodity prices negatively impacted drilling activity.