Common

Fort Worth, TX-based XTO Energy Inc. has completed its acquisition of producing properties from Headington Oil Co. for $1.05 billion in cash and 11.7 million shares of XTO common stock for total consideration of $1.8 billion. The purchase includes 352,000 net acres of Bakken Shale leasehold in Montana and North Dakota. In addition, XTO agreed in separate transactions with undisclosed parties to acquire another 100,000 net undeveloped acres in the play and 400 boe/d of production for $115 million. “With these deals XTO now becomes a leading operator in perhaps the largest oil resource play in the nation, with more than 450,000 net acres,” said President Keith A. Hutton. “Given the opportunities in the Bakken through horizontal drilling, multiple stimulations and enhanced recovery, we anticipate the potential for even more.”

Droughts, heavy downpours, excessive heat and intense hurricanes are likely to become more common as humans continue to increase the atmospheric concentrations of heat-trapping greenhouse gases (GHG), according to a scientific assessment of observed and projected changes in weather and climate extremes in North America and U.S. territories.

Droughts, heavy downpours, excessive heat and intense hurricanes are likely to become more common as humans continue to increase the atmospheric concentrations of heat-trapping greenhouse gases (GHG), according to a scientific assessment of observed and projected changes in weather and climate extremes in North America and U.S. territories.

What’s already a common provision in globally based liquefied natural gas (LNG) contracts — flexible destination rights that allow shippers to reroute their cargoes to higher paying ports — within 10 years will be included in all LNG deals. Most of the contracts for the gas slated to go through Sempra Energy’s new North Baja California terminal that opens early next year in Mexico already have these so-called “economic dispatch” provisions. This development was part of what a panel told participants last Tuesday at the LDC Forum Rockies & West conference in Los Angeles.

What’s already a common provision in globally based liquefied natural gas (LNG) contracts — flexible destination rights — within 10 years will be included in all LNG deals, meaning shippers can at the last minute take cargoes to other ports offering higher prices at the time. Most of the contracts for the gas slated to go through Sempra Energy’s new North Baja California terminal that opens early next year in Mexico already had these so-called “economic dispatch” provisions.

The North American natural gas marketers that consistently have led NGI’s quarterly sales surveys appear to have one belief in common: be reliable.

The North American natural gas marketers that consistently have led NGI’s quarterly sales surveys appear to have one belief in common: be reliable.

Iowa regulators have approved Black Hills Corp.’s acquisition of Aquila Inc.’s natural gas utility assets and operations in the state, the companies announced last Wednesday.

Pacific Energy Resources Ltd. announced that it has completed the acquisition of Forest Oil Corp.’s and Forest Alaska Holding’s Alaska oil and gas properties for $400 million, 10 million shares of Pacific Energy common stock and a seven-year seller note to Forest with a net present value of approximately $30 million.