Constellation Energy Corp.’s newly formed exploration and production partnership signed an agreement last week to acquire coalbed methane (CBM) properties in the Cherokee Basin from EnergyQuest Resources LP for $115 million. The transaction by Constellation Energy Partners LLC (CEP) includes more than 500 miles of pipeline gathering systems.
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BP Eyes San Juan Basin for CBM, to Invest $2.4B through 2020
BP plc on Tuesday announced plans to invest up to $2.4 billion through 2020 to recover an estimated 1.9 Tcf of coalbed methane (CBM) in the San Juan Basin of southwestern Colorado and northwestern New Mexico. The development program would grow BP’s current net San Juan production (425 MMcf/d net and 900 MMcf/d gross) by more than 20%, with output expected to exceed current production levels for at least 10 years.
BP to Invest $2.4B for CBM Exploration in San Juan Basin
BP plc on Tuesday announced plans to invest up to $2.4 billion through 2020 to recover an estimated 1.9 Tcf from coalbed methane (CBM) in the San Juan Basin of southwestern Colorado and northwestern New Mexico. The development program would grow BP’s current net San Juan production (425 MMcf/d net and 900 MMcf/d gross) by more than 20%, with output expected to exceed current production levels for at least 10 years.
CNX Increases E&P Spending 84% in Appalachian Push
Appalachian-focused CNX Gas Corp. plans to boost its exploration and production (E&P) budget this year 84% to $312 million to test the viability of some coalbed methane (CBM) plays. CNX expects its natural gas output to reach 64 Bcf in 2007, increasing by 15% in both 2008 and 2009.
Alternative Energy Push Impacts Natural Gas, Industry Panel Says
From coalbed methane to digester gas, solar photovoltaics to wind generation, natural gas has a stake in the burgeoning push for energy alternatives that now sees 22 states and the District of Columbia enacting renewable portfolio goals for electricity production, a panel of gas industry executives told The LDC Forum: Rockies & West Tuesday in Los Angeles.
Alternative Energy Push Impacts Natural Gas, Industry Panel Says
From coalbed methane to digester gas, solar photovoltaics to wind generation, natural gas has a stake in the burgeoning push for energy alternatives that now sees 22 states and the District of Columbia enacting renewable portfolio goals for electricity production, a panel of gas industry executives told The LDC Forum: Rockies & West Tuesday in Los Angeles.
Study Finds Powder River Gas Drilling Lowers Sage Grouse Population
Although no changes are imminent, Powder River Basin coalbed methane (CBM) producers could face new environmental mitigation requirements or restrictions because of preliminary findings that production is having a negative impact on the sage grouse population.
Western Buys More Big George Acreage for $136.7M
Denver-based Western Gas Resources Inc. signed an agreement with an undisclosed seller to buy about 40,000 acres of coalbed methane (CBM) properties and related gathering assets in the Big George fairway of the Powder River Basin of Wyoming for $136.7 million.
PRB Gas, Enterra to Jointly Develop CBM Properties in Wyoming, Montana
PRB Gas Transportation Inc. and Enterra Energy Trust on Tuesday announced a letter of intent to develop coalbed methane (CBM) properties in Wyoming and Montana. Under the arrangement, PRB will have the right to earn up to a 50% working interest in Enterra’s recently acquired subsidiary Rocky Mountain Gas Inc. (RMG), which includes more than 130,000 net acres of CBM production rights.
On Court Order, BLM Reexamines Impact of Montana CBM Production
Responding to a court order following an environmental protest of its decision on coalbed methane (CBM) development in the Powder River Basin and the Billings area in Montana, the Bureau of Land Management (BLM) in a Federal Register notice on Friday issued a notice of intent to prepare a supplement to the final environmental impact statement (FEIS) on oil and gas development in the area and to amend its resource management plans (RMP).