Details

Members of a new coalition formed by county commissions in Utah, Nevada, Wyoming, Idaho and Oregon on Thursday asked El Paso Corp. to release details of a $20 million contract between the company and some environmental groups that ostensibly will quell opposition to construction of the Ruby Pipeline.

New details have emerged in the early Friday morning disappearance of Sequent Energy Management President Douglas N. Schantz that have led the New Orleans Police Department (NOPD) to believe he accidentally fell into the Mississippi River and drowned. The body was found Tuesday morning in the river using side scan sonar by members of Texas EquuSearch, a mounted search and recovery team, near where Schantz was last seen on security camera footage.

New details have emerged in the early Friday morning disappearance of Sequent Energy Management President Douglas N. Schantz that have led the New Orleans Police Department (NOPD) to believe he accidentally fell into the Mississippi River and drowned. The body was found Tuesday morning in the river using side scan sonar by members of Texas EquuSearch, a mounted search and recovery team, near where Schantz was last seen on security camera footage.

Newfield Exploration Co. and Hess Corp. launched plans to jointly explore 140,000 gross acres of the Marcellus Shale. Financial details were not disclosed; the terms of the transaction are dependent upon Newfield and Hess finalizing additional agreements over the next few weeks, the companies said. The equal partnership would cover acreage primarily in Susquehanna and Wayne counties, PA. Newfield, based in Houston, would operate the venture. Newfield entered the Woodford Shale in 2003 and assembled 165,000 net acres. To date the producer has drilled close to 300 horizontal wells; current gross operated production is about 300 MMcfe/d. Marcellus drilling is not expected to begin until 2010. Newfield said this year’s Marcellus Shale activities would be budgeted under its existing $1.45 billion capital expenditures.

Newfield Exploration Co. and Hess Corp. launched plans Wednesday to jointly explore 140,000 gross acres of the Marcellus Shale.

MRT added a couple of clarifications to its announcement of a System Protection Warning for Friday through Tuesday; see the bulletin board for details.

Shell Energy North America (NA) LP will expand its natural gas marketing reach into the Mid-Atlantic in a deal to buy the assets of Enspire Energy LLC. Financial details were not disclosed.

House Democratic leaders are trying to hobble together a broad energy bill that satisfies both the pro-drilling and environmental factions of the House. Details of the measure are expected to be unveiled toward the end of the week, as Democrats and Republicans sharpen their rhetoric in preparation for a fierce battle over the issue of offshore oil and natural gas drilling.

After dancing for two months over the details and the structure of the deal, CME Group Inc. has agreed to acquire Nymex Holdings for $9.5 billion, which is approximately $1.5 billion less than the deal that was being pondered back in late January. The companies said the combined company will provide global market participants access to the “leading financial and agricultural exchange” and the “leading energy and metals exchange” in a regulated, transparent marketplace distributed around the world through the “enhanced speed and capacity” of the CME Globex electronic platform.