Borrowing

Antero Resources agreed to sell its Woodford Shale midstream assets to affiliates of Cardinal Midstream LLC for $268 million in cash, it said Friday.

The Bureau of Land Management (BLM) is borrowing a page from eBay to test an online platform that could replace the traditional oral auctions for oil and natural gas lease sales.

The Bureau of Land Management (BLM) is borrowing a page from eBay to test an online platform that could replace the traditional oral auctions for oil and natural gas lease sales.

Borrowing liberally from Mark Twain’s famous quote, it would appear that reports of the death of coal as a power plant fuel “have been greatly exaggerated” as the siting competition for the Department of Energy’s (DOE) FutureGen clean coal power project continues to heat up. Last week, Ohio joined the growing alliance of coal producing and consuming states in support of locating the federal FutureGen project in Illinois, noting that it is “essential” to site the project in a location that will maximize the transferability of the project’s technology.

Borrowing a page from federal officials, Anadarko Petroleum Corp. has selected the Oil & Gas Asset Clearinghouse to host a lease sale auction later this month to market all of its unleased holdings in the Fayetteville Shale and Smackover play in Arkansas. Lease sales are commonly used by state and federal agencies to market drilling rights. This lease sale will be the first of its kind for a publicly held entity, according to the clearinghouse, which will market and advise Anadarko about the sale. Anadarko will offer the right to lease about 250,000 gross (206,000 net) acres throughout the state. About 170,000 net acres are considered to be in the natural gas-rich Fayetteville Shale fairway; another 5,000 acres lie within the Smackover play in southern Arkansas. The assets will be offered under predetermined lease terms, which will be available prior to the auction through the clearinghouse. Royalties retained by Anadarko will be 12.5-15%, with primary lease terms ranging from five to 10 years. The hybrid auction will be held Nov. 14-15 at the Sheraton North Houston Hotel in Houston and via the Internet. The auction will begin with the sale of Anadarko leases followed by other oil and gas properties owned by various sellers including Chevron Corp., EOG Resources Inc., McClymond Ltd., Reed Partners, Rudman Partnership, Samson Resources and Whiting Petroleum. For more information on the properties to be offered, visit www.ogclearinghouse.com.

Borrowing a page from federal officials, Anadarko Petroleum Corp. has selected the Oil & Gas Asset Clearinghouse to host a lease sale auction in November to market all of its unleased holdings in Arkansas.

Borrowing the premise from the 1993 movie Groundhog Day in which Bill Murray’s character is doomed to continually repeat the same day of his life forever, natural gas futures traders find themselves continuing to assault $8 psychological resistance in the December contract only to experience the same result each time — failure. On Monday the prompt month reached a high of $8 in afternoon trading before sinking to close at $7.894, up a dime from Friday’s close.

Borrowing from the old adage “If at first you don’t succeed try, try again,” EnCana Corp. has teamed up with Calgary-based independent Marauder Resources East Coast Inc. to explore and produce natural gas offshore Nova Scotia.

Borrowing from the old adage “If at first you don’t succeed try, try again,” EnCana Corp. has teamed up with Calgary-based independent Marauder Resources East Coast Inc. to explore and produce natural gas offshore Nova Scotia.