The Pennsylvania Board of Game Commissioners has approved an agreement to lease 5,870 acres of land in the northeastern part of the state to Chief Oil & Gas LLC, netting the agency a bonus payment of more than $14.6 million plus royalties and other fees.
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Natural Gas Gaining Alberta Power Generation Share
An environmental dividend is emerging for Alberta, Canada’s energy warehouse province, as a bonus of oilsands development.
Natural Gas Gaining Power Generation Share in Alberta
An environmental dividend is emerging for Canada’s energy warehouse province as a bonus of oilsands development across northern Alberta.
Chesapeake’s ‘Profligate’ Spending, Accounting Scrutinized
Shale giant Chesapeake Energy Corp. “has one of the industry’s best collections of natural gas assets,” but “continuing concerns about the company’s profligate spending” and accounting methods led veteran analyst Philip H. Weiss of Argus Research to trim his recommendation to “sell” last week.
Latest BC Land Sale ‘Larger Than Predicted’
British Columbia (BC) collected more than C$98 million in bonus bids in this month’s natural gas and oil lease sale, officials said Thursday. For the year the province said bids have totaled C$760 million.
Industry Briefs
British Columbia’s September oil and gas rights sale resulted in more than C$8.7 million in bonus bids, bringing the calendar year to date to C$330.6 million, the Ministry of Energy, Mines and Petroleum Resources said. The sale offered — and sold — 34 parcels covering 15,885 hectares at an average price of C$549/hectare. The top bids included three drilling licenses and two leases in the Graham River area, about 50 kilometers northwest of Hudson’s Hope, that sold for a total of C$4.5 million. Bids ranged from C$1,425 to C$2,168/hectare. Two leases also were sold in the Horn River Basin, about 15 kilometers west of the Cabin Gas Field, for a total of more than C$837,620. Drilling licenses have primary terms of two, three or four years, depending on the location. Leases acquired at the Crown sale have primary terms of five or 10 years, also depending on the location. The next sale, scheduled for Oct. 21, 2009, is expected to offer 62 parcels covering 66,837 hectares. Results from the September sale are available at: www.em.gov.bc.ca/Subwebs/landsale/results/default.htm.
In Alberta, Gas Is Royalty Revenue Leader
The Alberta government is predicting that sustained strength in natural gas prices will fuel a C$3 billion (US$2.8 billion) bonus in its royalty collections for its current fiscal year, ending March 31.
In Alberta, Gas Is Royalty Revenue Leader
The Alberta government is predicting that sustained strength in natural gas prices will fuel a C$3 billion (US$2.8 billion) bonus in its royalty collections for its current fiscal year, ending March 31.
Four Producers Bid $14M for NW Alaska Reserve Leases
Four producers — Anadarko Petroleum, ConocoPhillips Alaska, FEX LP and Petro-Canada Alaska Inc. — last Wednesday submitted bonus bids totaling $13.86 million to win the rights to develop 81 oil and natural gas lease tracts on nearly one million acres in the northwestern corner of the National Petroleum Reserve-Alaska (NPRA), the Bureau of Land Management (BLM) in Alaska said.
Four Producers Bid $14M for NW Alaska Reserve Leases
Four producers — Anadarko Petroleum, ConocoPhillips Alaska, FEX LP and Petro-Canada Alaska Inc. — on Wednesday submitted bonus bids totaling $13.86 million to win the rights to develop 81 oil and natural gas lease tracts on nearly one million acres in the northwestern corner of the National Petroleum Reserve-Alaska (NPRA), the Bureau of Land Management (BLM) in Alaska said.