Adding to its already significant holdings in the Permian Basin of West Texas and southern New Mexico, Concho Resources Inc. on Monday agreed to acquire all the oil and natural gas assets of Three Rivers Operating Co. and affiliated entities for $1 billion in cash.
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TransCanada Seeks 2013 Startup for First Phase of Keystone Pipeline
A two-phase approach to the Keystone XL oil pipeline from Canada to U.S. Gulf Coast refineries should result in a new line from Oklahoma to the Gulf being in place sometime next year, with the XL phase from Canada to Nebraska following by early 2015, the CEO of the project’s sponsor, TransCanada Corp., said Friday. The latter is the only part of the project now requiring a federal Presidential Permit from the U.S. State Department.
Five Marcellus Operators Hit by Pennsylvania Water Cutbacks
Seventeen separate water withdrawals already approved in Pennsylvania by the Susquehanna River Basin Commission (SRBC) — mostly for natural gas operators — have been temporarily suspended because localized stream flow levels have fallen throughout the basin because of drought conditions, officials said.
Gas Producers, Pipeline Impacted by Pennsylvania Water Suspension
Seventeen separate water withdrawals already approved in Pennsylvania by the Susquehanna River Basin Commission (SRBC) — mostly for natural gas operators — have been temporarily suspended because of localized stream flow levels that have fallen throughout the basin on drought conditions, officials said.
Gas and Climate: Cleanliness Assumed, Leakiness Debated
Climate change impacts are lessened when power plants burn natural gas instead of coal, but the same is not necessarily true when vehicles burn natural gas instead of traditional fuels because methane leakage more than offsets the clean-burning benefits of gas, according to a methane leakage model developed by the Environmental Defense Fund (EDF) and university researchers. However, the gas industry countered that the model relies on “outdated and incomplete” data.
Anadarko, Linn Partner in Powder River Basin Project
An affiliate of Anadarko Petroleum Corp. on Tuesday took on Linn Energy LLC as a partner in an enhanced oil recovery project on the 22,000-acre Salt Creek Field of Wyoming’s Powder River Basin.
Utah on Verge of Big Oil Shale Development
Although already under environmental appeal, Utah state officials issued a permit the last week in March to a Delaware-based company to a begin a large oil shale extraction project that eventually could cover up to 1,500 acres in the Uintah Basin. It could end up being one of the largest oil shale mining operations in the state.
Shale Is a Long Game for Chevron
It’s early days in Chevron Corp.’s shale natural gas and oil program, but it is “an area of significant long-term growth” with opportunities in the United States, Canada, Argentina, China and Europe — in liquids and dry gas — an executive said during the company’s analyst day Tuesday.
PG&E Pipe Safety Upgrade Plan Funding Stalled
Already subjected to pointed criticism from regulators and lawmakers, a $2.2 billion, four-year plan for enhancing Pacific Gas and Electric Co.’s (PG&E) natural gas pipeline system is not likely to be approved by the California Public Utilities Commission (CPUC) anytime soon, PG&E utility President Chris Johns told financial analysts Thursday on an earnings conference call.
Monterey Shale Independent Venoco to Go Private
Denver-based Venoco Inc., an independent exploration and production (E&P) company in California’s oil-dominated Monterey Shale, said Monday CEO Tim Marquez intends to buy back all the publicly held shares of the company he founded, subject to shareholder and regulatory approvals.