Discovery

Shell Offshore Inc. has hit a significant oil and gas prospect about 250 miles south of Houston in the deepwater Alaminos Canyon of the Gulf of Mexico (GOM).

Santos Ltd. said an appraisal well in the Corvus field offshore Western Australia confirmed a “significant gas resource,” potentially giving the country a boost in its competition with the United States to supply liquefied natural gas (LNG) worldwide.

Royal Dutch Shell plc said Thursday it has struck its sixth oil and natural gas find in the Norphlet play in the deepwater U.S. Gulf of Mexico (GOM) after encountering more than 800 net feet of pay at the Dover discovery.

The U.S. Federal Trade Commission (FTC) hascleared thecombination of Enbridge Inc. and Spectra Energy Corp. FTC voted to accept a proposed consent decree in which Enbridge and Spectra have agreed to enact firewalls governing the flow of certain information to Enbridge about the Discovery offshore Gulf of Mexico natural gas pipeline system, and to take other steps limiting Enbridge’s potential influence over actions related to Discovery. Spectra holds an ownership interest in Discovery through its indirect ownership interest in DCP Midstream LP, which holds a 40% ownership interest in Discovery. Enbridge, through an affiliate, also has offshore natural gas gathering operations in the Gulf of Mexico. With FTC clearance, the merger has only one more regulatory hurdle, which is clearance under the Canadian Competition Act. The companies continue to expect the transaction to close during the first quarter.

Crestwood Equity Partners LP has said “no, thanks” to Raging Capital Management LLC’s “Crestwood Comeback” program, which includes a distribution cut and unit buyback.

Chevron Corp. and its partners have encountered more oil and natural gas reserves in the Lower Tertiary Trend of the Gulf of Mexico (GOM), the oil major’s second major discovery in the estimable deepwater formation in less than a year.

The Railroad Commission of Texas (RRC) is considering rule changes intended to reduce the costs of contested natural gas utility rate cases, which are ultimately passed on to consumers. While utilities have voiced support, municipalities across Texas claim the changes would deter challenges to rate hikes.

A U.S. unit of Royal Dutch Shell plc has hit another discovery in the Norphlet formation in the eastern deep waters of the Gulf of Mexico (GOM), its third successful well in the play.

The first four in a series of 10 short films on energy from the director and producer of “Haynesville: A Nation’s Hunt for an Energy Future” (see Shale Daily, Nov. 23, 2010) debuted at the Aspen Ideas Festival in Colorado this week.