Assist

Getting an assist from the screen, moderately hot forecasts for much of the East and desert Southwest along with a patch of cold in the Rockies caused cash quotes to be flat to up by mostly small amounts at a large majority of points Thursday.

While unconventional energy plays require more water than their conventional counterparts, it’s the rapid growth of those new plays that is shining a spotlight on how the oil and gas industries use water, a Massachusetts Institute of Technology (MIT) professor told attendees at CERAWeek 2011 in Houston last week.

Range Resources Corp. said its estimated unproved resource potential at the end of 2010 reached 35-52 Tcfe, versus 2009’s estimate of 24-32 Tcfe, which was fueled by stronger drilling results. By itself, the resource potential in the Marcellus Shale leasehold jumped to 20-31 Tcfe on higher per/well reserves.

Petrohawk Energy Corp. has sold its natural gas assets in the Fayetteville Shale to XTO Energy Inc., a subsidiary of ExxonMobil Corp., for $575 million, the company said. The deal puts ExxonMobil at No. 2 in the Fayetteville leaseholder pack.

The Interior Department’s U.S. Geological Survey has been directed to conduct an “independent evaluation” of the “environmental sensitivities in the Arctic” to assist in developing the next five-year (2012-2017) leasing plan for the Outer Continental Shelf (OCS).

Hal Kvisle, president and CEO of TransCanada Corp., is retiring June 30. Russ Girling, who is now the COO, is to take the reins the following day. Kvisle said he would assist Girling with the transition through Aug. 31 and be available as an adviser to him after that. Kvisle joined TransCanada in 1999 as executive vice president and assumed the CEO role in 2001. In 2008 Kvisle was named Canada’s Outstanding CEO of the Year. “The TransCanada team has achieved and exceeded the objectives we set for ourselves more than a decade ago,” Kvisle said. “Our Canadian gas transmission business is expanding to move BC [British Columbia] shale gas to market. We are working to extend our Canadian system to connect northern gas from Mackenzie and Alaska.” In the past decade, “we’ve built Canada’s largest private sector power business and North America’s second largest natural gas storage business…” It was under Kvisle’s leadership that TransCanada won the state concession to construct the Alaska gasline to carry North Slope gas to Lower 48 markets (see NGI, April 5). Girling joined TransCanada in 1994. Before he was appointed to the COO position in July 2009 he held several leadership positions at TransCanada including president, pipelines; CFO and executive vice president, corporate development; and executive vice president, power. Girling also is the current chairman of the Interstate Natural Gas Association of America.

Hal Kvisle, president and CEO of TransCanada Corp., is retiring June 30, the company said Thursday. Russ Girling, who is now the COO, is to take the reins the following day.

Hal Kvisle, president and CEO of TransCanada Corp., is retiring June 30, the company said Thursday. Russ Girling, who is now the COO, is to take the reins the following day.

The Interior Department’s U.S. Geological Survey has been directed to conduct an “independent evaluation” of the “environmental sensitivities in the Arctic” to assist in developing the next five-year (2012-2017) leasing plan for the Outer Continental Shelf (OCS) .