In a blow to oil and gas development in northeast Pennsylvania, Newfield Exploration Co. and its joint venture (JV) partner, Hess Corp., have terminated about 1,500 leases in the region and dashed hopes that landowners could earn about $187.5 million in lease payments.
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Valero Looks to Build Mega-Methanol Plant Fueled by Shale
Valero Energy Corp. is planning to make its first big splash in the petrochemicals market by constructing a $700 million methanol plant on the same site in St. Charles Parish, LA, where its transportation fuel refinery is located.
ExxonMobil Says Ukraine Could Produce 1.59 Tcf by 2020
ExxonMobil Corp. said it is interested in helping Ukraine develop its oil, gas, shale gas and coalbed methane (CBM) reserves, and estimates the country’s onshore and offshore gas resources could produce 45 billion cubic meters (bcm) (1.59 Tcf) by 2020.
Memorial Production Strikes Multi-Play Deal
Houston-based Memorial Production Partners LP (MEMP) has agreed to acquire oil and gas properties in the Permian Basin, East Texas and the Rockies from its sponsor, Memorial Resource Development LLC, and affiliates of Natural Gas Partners for $606 million. The deal is MEMP’s largest acquisition to date and gets the partnership’s foot in the door in the Permian and Rockies.
Kodiak Completes Bakken, Three Forks Acreage Acquisition
Denver-based Kodiak Oil & Gas Corp. has completed its acquisition of 42,000 net acres and associated production in North Dakota’s Williston Basin for $660 million in cash from Liberty Resources LLC. The deal included core Bakken and Three Forks producing properties in addition to undeveloped leaseholds.
Transco Northeast Expansion Flows on First Loop
Transcontinental Gas Pipe Line (Transco) was to start up service over the weekend on the first pipeline loop of its major Northeast Supply Link expansion, one of the key links in sending new gas out of the Marcellus Shale.
Magnum Hunter Builds Output on Added Marcellus Pipe Capacity
Magnum Hunter Resources Corp. is planning to build production through the rest of this year from its substantial asset base in the Appalachian Basin after being knocked back early this year from a lack of pipeline capacity for natural gas liquids (NGL), CEO Gary Evans said last week.
Exco Still Shopping After $1B Deal
Exco Resources Inc. is back in the acquisition game after having struck a $1 billion deal with Chesapeake Energy Corp., CEO Douglas Miller said last week. There are plenty of deals, and financing is available, he told analysts following the company.
Marcellus Pushed Range Production 27% Higher in 2Q2013
Driven primarily by the continued success of its drilling program in the Marcellus Shale, Range Resources Corp. saw its production volumes surge to a record high of 910 MMcfe/d in 2Q2013, a 27% increase over 2Q2012, the Forth Worth, TX-based company said Thursday.
Magnum Hunter Readies Growth on Added Marcellus Pipe Capacity
Magnum Hunter Resources Corp. is planning to build production through the rest of this year from its substantial asset base in the Appalachian Basin after being knocked back early this year from a lack of pipeline capacity for natural gas liquids (NGL), CEO Gary Evans said Tuesday.