Canada’s Duvernay Shale has the potential to become one of the “most attractive liquids-rich plays” in North America, according to Wood Mackenzie analysts, who point to ExxonMobil Corp.’s decision this month to pay $3.1 billion for one of the play’s biggest developers as affirmation.
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Energy Secretary Steven Chu should cooperate with other federal agencies to address key issues confronting energy and water, such as hydraulic fracturing processes, according to a new government report.
Marathon Petroleum Corp. (MPC) and Harvest Pipeline Co. have tentatively agreed to develop the capability to ship Utica Shale production from eastern Ohio and western Pennsylvania by barge on the Ohio River.
Honeywell’s UOP business is buying a 70% stake in Thomas Russell Co., a privately held provider of technology and equipment for natural gas processing and treating. UOP provides process technology, materials and equipment to petroleum refining, petrochemical, and gas processing industries. It will now be able to offer a range of technologies and products that allow shale and conventional natural gas producers to remove contaminants from natural gas and recover high-value natural gas liquids (NGL). Founded in 2002, Tulsa, OK-based Thomas Russell specializes in the design, engineering, fabrication and start-up of skid-mounted modular packaged plants systems for the recovery and upgrading of NGLs. UOP is paying $525 million in cash for the interest and has a right to acquire the remaining 30% stake. Closing, subject to conditions, is expected during the fourth quarter.
As happened in the rush to develop U.S. liquefied natural gas (LNG) import facilities a decade ago, relatively few of the proposed export projects now before federal authorities will be built, and most of them will be brownfield projects on the Gulf of Mexico (GOM), according to a top executive with one of the competing Gulf Coast-based projects.
As happened in the rush to develop U.S. liquefied natural gas (LNG) import facilities a decade ago, relatively few of the proposed LNG export projects now before federal authorities for permitting will get built, and most of them will be brownfield projects on the Gulf of Mexico (GOM), according to a top executive with one of the competing Gulf Coast-based projects.
One month after announcing that it was abandoning a potential partnership strategy to help develop its Eagle Ford Shale acreage in favor of a “go-it-alone plan,” Denver-based Forest Oil Corp. said it has entered into an agreement to sell the majority of its East Texas natural gas gathering assets to a subsidiary of Tristate Midstream II LLC for proceeds of $34 million.
After a second quarter of strong production growth in the Bakken Shale and Anadarko Woodford, Oklahoma City-based Continental Resources Inc. said it is ahead of schedule on its five-year plan to triple production.
The California Public Utilities Commission (CPUC) last week rejected by a 3-2 vote a long-standing proposal to develop an idle dry natural gas field into a 7.5 Bcf capacity underground storage project beneath a residential community in Sacramento.