Announced

Inergy to Buy Colt Hub Owner Rangeland for $425M

Inergy to Buy Colt Hub Owner Rangeland for $425M

Inergy Midstream LP announced Monday that it plans to purchase Rangeland Energy LLC — which owns and operates the Colt crude oil rail terminal, storage and pipeline facilities near Epping, ND, in the Bakken and Three Forks shale — in a cash and stock deal valued at $425 million.

November 6, 2012

WPX Takes 3Q Loss, But Bakken Oil and Marcellus Gas Booming

WPX Energy Inc. announced a net loss of $64 million for 3Q2012 on Thursday, but it also reported significant growth in oil production in the Bakken Shale and tripled natural gas production in the Marcellus.

November 2, 2012

Mexico Awards TransCanada Contract For $1B NatGas Pipeline

TransCanada Corp. announced Thursday that Mexico’s state-owned electric utility, the Comision Federal de Electricidad (CFE), has awarded the company’s Mexican subsidiary a contract to build, own and operate a natural gas pipeline across the northern part of the country.

November 2, 2012

Judge Orders Pennsylvania to Stop Reviewing Local Drilling Ordinances

A Pennsylvania judge ruled that the state Public Utility Commission (PUC) had no authority to review local drilling ordinances for compliance with Act 13, a decision that could force the agency to release nearly $1 million in impact fee revenue withheld for noncompliance.

October 31, 2012

Methanex Near Contract for U.S. Methanol Plant, CEO Says

Methanex Corp. is moving closer to inking a long-term supply contract for its previously announced plan to relocate a large production plant to Louisiana, CEO Bruce Aitken told financial analysts recently.

October 31, 2012

German Firm to Build Steel Tubular Plant in Louisiana

Louisiana Gov. Bobby Jindal and Matthias Jaeger, CEO of German steelmaker Benteler Steel/Tube, announced Friday that they have reached a deal for the construction of a $900 million hot-rolling tube mill in Caddo, LA, strengthening the company’s position in the North American oil country tubular goods market.

October 31, 2012

People

Wyoming Gov. Matt Mead last Friday announced new heads of the state’s environmental and treasury departments. Both new Department of Environmental Quality (DEQ) Director Todd Parfitt and Treasurer Mark Gordon hold key roles for the oil/gas industry in the state. In replacing DEQ Director John Corra, who retires Wednesday, Parfitt will be involved in issues touching everything from water quality to fossil fuels, said Mead, while thanking Corra for his nine years of heading DEQ. New Treasurer Gordon, who fills a vacancy created by the death of Joe Meyer Oct. 6, faces a state budget deficit of more than $30 million in the next two years, exacerbated by continuing low natural gas prices (see Daily GPI, Oct. 24).

October 30, 2012

ZaZa Eagle Ford Oil Reserves More than Double

ZaZa Energy Corp. more than doubled its proved Eagle Ford Shale oil reserves between the end of last year and Sept. 1; however, proved Eagle Ford gas reserves declined by more than half with the dissolution of a joint venture (JV) the company had with Hess Corp.

October 17, 2012

Pennsylvania Impact Fee Generates $108.7M for Localities

The Pennsylvania Public Utility Commission (PUC) announced Monday that localities will receive a total of $108.7 million from the impact fees enacted under Act 13, the state’s omnibus Marcellus Shale law.

October 16, 2012
Warren’s Atlantic Rim Acquisition Adds 18.3 Bcf of Proved Reserves

Warren’s Atlantic Rim Acquisition Adds 18.3 Bcf of Proved Reserves

Warren Resources Inc. Monday said it closed on its previously announced deal to acquire additional natural gas and midstream assets from subsidiaries of Anadarko Petroleum Corp. in the Atlantic Rim Project area in Wyoming’s Washakie Basin.

October 16, 2012
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