PDC Energy Inc. completed the sale of its noncore Colorado natural gas assets Tuesday, with the sales proceeds earmarked to accelerate development of its liquid-rich horizontal drilling programs in the state’s Wattenberg Field and Ohio’s Utica Shale.
Articles from Anschutz
An attorney representing Anschutz Exploration Corp. (AEC) has filed suit against the Town of Dryden, NY, arguing that the town of overstepped its authority when it enacted an ordinance and a zoning requirement this summer banning all oil and gas development activities.
Anschutz Exploration Corp. has exited the Bakken Shale play after closing the sale of its remaining operated and nonoperated oil and gas producing properties in the Williston Basin, including undeveloped acreage, to an undisclosed Canadian oil company for $115 million. The deal comes less than a year after the company sold 180,000 net acres to Oxy USA in December 2010 for $1.4 billion.
Kern River said Tuesday it was able to avoid “same day cuts” for shippers despite supply shortages that occurred at Opal and Anschutz during Monday’s gas day, but the combination of these shortages and the drafting that occurred that day resulted in a “very low” linepack level throughout its system. If linepack dropped further Tuesday, the pipeline said it may be necessary for it to physically prevent further drafting Wednesday and to impose mandatory payback (by physically limiting deliveries) to parties that drafted Tuesday. “Please ensure that your supplies are sufficient to cover all your deliveries,” Kern River concluded in a note to customers.