Tag / Deal



Continental Bolts On More Bakken Opportunities

Continental Resources Inc., now the king of the Bakken Shale, has expanded its empire to an estimated 1.1 million net acres after completing a deal to buy 119,218 million acres for $649.3 million in cash. The Samson Resources Co. properties in North Dakota, primarily in Williams and Divide counties, have current production estimated at about 6,500 boe/d, 82% weighted to crude oil.

December 21, 2012

Northeast Strength Fails to Offset East, Gulf Weakness; Futures Flub

Physical gas prices declined on average by 9 cents Thursday as Northeast traders had to deal with constraints and cold weather, but there were milder conditions in the East and Gulf Coast region. The Energy Information Administration (EIA) reported that inventories increased 4 Bcf, but the market was expecting a modest draw, and futures prices took a double-digit beating. At the close January had fallen 15.3 cents to $3.648 and February was down 14.8 cents to $3.668. January crude oil added $1.58 to $88.07/bbl.

November 30, 2012

Weather Forecasts Prompt Broad Advance; Futures Plunge

Physical gas prices overall on average jumped a whopping 37 cents Monday as traders scrambled to deal with multiple challenges ranging from high power prices, to covering short positions, to below normal temperatures forecast for major eastern and Midwest energy markets. The Northeast was especially strong, with a couple of New England points registering gains north of $4.00. Futures traders were looking at more distant weather events and sold early and sold often. At the close December had fallen 17.1 cents to $3.730 and January was down 16.6 cents to $3.868. January crude oil fell 54 cents to $87.74/bbl.

November 27, 2012

North Dakota Output Still Breaking Records

North Dakota continues to set new records for oil and natural gas production, and it has begun working on innovative solutions to deal with the abundance of flared gas.

November 26, 2012

Chimera’s Non Hydraulic Extraction System Still Under Fire

Chimera Energy Corp., which had seen its stock price increase substantially this summer based on its claims of a deal with Mexico’s state-owned petroleum company, has since lost both its CEO and almost all of its stock value in the wake of concerns about the accuracy of many of the company’s statements.

November 20, 2012

Shell Canada, Trucking Firm Sign LNG Deal

Shell Canada Products has signed a five-year deal with Canada’s Bison Transport to provide liquefied natural gas (LNG) for 15 Bison tractors in Alberta. The agreement is a first step in Shell’s effort to establish a natural gas transportation fueling network in the province.

November 7, 2012

Halcon Bulks Up in North Dakota

Halcon Resources Corp. on Monday said it is acquiring a shelf of oil-weighted producing and undeveloped properties in the Williston Basin in a cash-and-equity transaction with Petro-Hunt LLC worth $1.45 billion.

October 23, 2012

Enbridge, Encana Strike Peace River Midstream Deal

Enbridge Inc. and Encana Corp. have struck a midstream services deal to develop gas gathering and compression facilities in the Peace River Arch (PRA) region in northwestern Alberta.

October 23, 2012

ExxonMobil Expands Canada Shale Holdings with Celtic Exploration

ExxonMobil Corp. has offered US$3.14 billion in a cash and debt deal to buy Celtic Exploration Ltd., a Calgary producer with a rich array of unconventional acreage spread across the Montney and Duvernay shales, as well as leaseholds in other formations in Alberta (AB) and British Columbia (BC). The offer that was announced on Wednesday has a cash value of about $2.6 billion, excluding debt.

October 18, 2012

New Pipeline Safety Bills Enacted in California

California Gov. Jerry Brown has signed into law four pipeline safety bills that in part deal with the 2010 San Bruno pipeline explosion. He also signed a half-dozen other energy-related bills in the final days of September.

October 1, 2012
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