Business

Canadian Pacific Railway Ltd. (CP) said Wednesday it was teaming up with Pennsylvania-based Smart Sand to supply Northern White sand to drillers in key North American unconventional plays beginning with the Bakken Shale, where the first of several transload facilities is planned.

Highly committed from the top down to using more natural gas in its extensive national fleet truck rental business, Ryder Systems Inc. said it will continue through July 27 a three-day free “ride-and-drive” rental of natural gas vehicles (NGV) in the Sacramento area in Northern California.

Patriot Water Treatment LLC of Warren, OH, is back in business after the Ohio Environmental Review Appeals Commission (ERAC) on Tuesday ruled that the Ohio Environmental Protection Agency (OEPA) had overstepped its regulatory authority when it pulled the private operator’s permit to deliver natural gas drilling wastewater to the City of Warren for treatment.

A CenterPoint Energy Inc. subsidiary on Tuesday bulked up its East Texas and Northwest Louisiana natural gas gathering and processing business after completing two agreements worth a total of $364 million.

Houston-based independent Eagle Ford Oil & Gas Corp. has acquired an 85% working interest in prospective acreage in Frio County, TX, in the “heart” of the Eagle Ford Shale of South Texas, the company said Monday.

Global Infrastructure Partners (GIP), which backed Chesapeake Energy Corp. as it launched its midstream business three years ago, on Friday agreed to buy all of the assets for more than $4 billion cash in a sale that had been rumored for days (see Daily GPI, June 7). Chesapeake would net about $2.4 billion from the sale and cut previously budgeted midstream capital spending over the next three years by $3 billion.

Chesapeake Energy Corp.’s annual meeting Friday has taken on special meaning for the company, its shareholders and the business community following corporate governance questions raised in the past two months that are hanging over the heads of CEO Aubrey McClendon and members of the board of directors. Two board members face reelection, but if big shareholder groups have their way, including the third largest, Carl Icahn, the company will see some new faces.

Canadian provincial and federal authorities are sending signals that they mean business when they talk about a shift in energy export strategy into overseas markets and away from traditional reliance on the United States.

Red Leaf Resources Inc. has entered into a joint venture (JV) with a U.S. subsidiary of France’s Total SA to develop oil shale in the Uinta Basin in Utah.