Agreeing

DCP Midstream Partners has moved to increase its market position in East Texas, agreeing to pay Penn Virginia Resource Partners LP (PVR) approximately $63 million for the Crossroads processing plant and associated gathering system in Harrison County, TX, the two companies said.

ExxonMobil Corp. shareholders for the third year in a row turned back a shareholder proposal which would require the corporation to prepare a report on the risks associated with hydraulic fracturing (fracking). Chevron Corp. shareholders defeated a similar measure at their annual meeting, with fewer voting in favor than a year ago.

The U.S. Environmental Protection Agency (EPA) announced Friday that 20 water wells in Dimock Township, PA — collectively its second round of water quality testing — did not reveal any signs of contamination from natural gas drilling.

Williams, which has been laser focused on building a midstream stronghold in the Marcellus Shale, last week added to its arsenal after agreeing to pay $2.5 billion to buy the midstream arm of privately held producer Caiman Energy.

Pacific Gas and Electric Co. (PG&E) and the City of San Bruno, CA, settled their differences Monday with the utility agreeing to pay the city $70 million in the aftermath of the deadly September 2010 natural gas transmission pipeline rupture and explosion in a quiet residential neighborhood about 10 miles south of San Francisco.

Hess Corp.’s total crude oil and natural gas production fell in 2011 and it suffered a net loss in the fourth quarter, but company officials said Wednesday they are confident this year will be better as the company commits to developing its growing North American unconventional portfolio.

Encana Corp. last week checked off more items on its “to do” list after agreeing to sell two packages of properties, including a C$920 million deal to sell two natural gas processing plants that service the Cutbank Ridge area to Veresen Inc.

Encana Corp. on Wednesday checked off another item on its “to do” list after agreeing to sell two natural gas processing plants that service the Cutbank Ridge area, which straddles Alberta and British Columbia (BC), to Veresen Inc. for C$920 million.

Comstock Resources Inc. has established a new core area in the Delaware Basin in West Texas, agreeing to pay Eagle Oil & Gas Co. $332.7 million for approximately 68,000 gross (44,000 net) acres in Reeves County, TX, the Frisco, TX-based company said. The deal is expected to close by the end of this month.