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Persistent drought in recent years is said to have played a role, but exploration and production (E&P) activity is being cited as another reason water prices in Northern Colorado have skyrocketed in the past three years. However, state water officials caution that the numbers can be overstated.

Forecasters at AccuWeather.com expect another active hurricane season this year, with 16 named storms, including eight hurricanes, four of them major (Category 3 or higher), to form in the Atlantic Basin, with as many as three hurricanes making landfall in the United States.

Forecasters at AccuWeather.com expect another active hurricane season this year, with 16 named storms, including eight hurricanes, four of them major (Category 3 or higher), to form in the Atlantic Basin, with as many as three hurricanes making landfall in the United States.

Houston-based Carrizo Oil & Gas Inc. turned in first quarter results that included record production and revenue driven by record oil results.

Occidental Petroleum Corp. (Oxy) Chairman Ray Irani withdrew as a nominee to serve another term on the board of directors, and he was a no-show for the company’s annual meeting in Santa Monica, CA, on Friday (May 3), Oxy said. Edward Djerejian, a former U.S. diplomat who served as an ambassador to Israel and who is a former assistant secretary of State, is assuming the role of independent chairman. He has been an independent director since 1996. Spencer Abraham, the former secretary of Energy for President George W. Bush, was elected independent vice chairman. Irani, 78, had worked at Oxy since 1978, taking over as chairman and CEO in 1990 after founder Armand Hammer died. Irani, who had planned to retire in 2014, had turned over the CEO post two years ago to Steve Chazen, 66, who had served in the executive suite since 1994. Earlier this year Irani had attempted to oust Chazen, which led to criticism by major shareholders. However, days ago the board said Chazen would remain CEO through 2014 “with full board support.”

Occidental Petroleum Corp. (Oxy) Chairman Ray Irani on Friday withdrew as a nominee to serve another term on the board of directors, and he was a no-show for the company’s annual meeting in Santa Monica, CA, Oxy said.

Another deepwater well in the Gulf of Mexico (GOM) appears to be a success after the Phobos-1 prospect in the Lower Tertiary Trend encountered 250 feet net of “high-quality oil pay,” said Anadarko Petroleum Corp.

In another plan for getting shale-driven domestic crude oil supplies in the central United States to the West Coast, Tesoro Corp. and Savage Companies on Monday formed a joint venture to develop and operate a new rail shipment-linked 120,000 b/d unloading and marine loading facility at Port of Vancouver, WA, across the Columbia River from Portland, OR.

Another four groups are considering entries into the lineup to build liquefied natural gas (LNG) export terminals on the northern Pacific Coast of British Columbia, BC Energy Minister Rich Coleman has confirmed.