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Kodiak Oil & Gas Corp. has agreed to purchase 42,000 net acres and associated production in North Dakota’s Williston Basin for $660 million in cash from Liberty Resources LLC.

The U.S. Energy Information Administration (EIA) is predicting that natural gas use in transportation will grow 100% by 2017, but Barclays Capital analysts who broke down some of the metrics have concluded that natural gas vehicles (NGV) would have to swell 12-fold to meet those projections.

Strong liquids and oil growth from the Greater Wattenberg Field in Colorado, and stronger-than-expected natural gas output from the Marcellus Shale, contributed to record volumes in the first quarter by Anadarko Petroleum Corp.

Since the latter half of last year, Swift Energy Co. has been directing Eagle Ford drilling at a narrower section of the lower Eagle Ford with more precision than previous drilling, and it’s been paying off, said CEO Terry Swift.

Settlement talks have broken down for regulatory cases involving the 2010 San Bruno, CA, natural gas transmission pipeline rupture and explosion, and Pacific Gas and Electric Co. (PG&E) now expects to litigate the issues at the California Public Utilities Commission (CPUC), according to PG&E Corp. CEO Tony Earley.

In a story published May 3, “San Bruno Settlement Talks Break Down, PG&E CEO Says” (see Daily GPI, May 3), the fifth paragraph was incorrect. That paragraph should read: CFO Kent Harvey said PG&E would “continue to expect to need roughly $1-1.2 billion of equity for the year, excluding any fines or penalties beyond the $200 million we’ve already accrued. Of that, we issued about $430 million in 1Q2013.” NGI regrets the error.

A compilation of suggestions the Senate Finance Committee has received for reforming taxes on the energy sector can be boiled down to three basic ideas: modify the tax code, replace it, or eliminate it outright.

With the price of gold now down nearly 30% from its record September 2011 high of $1,920.30/oz to around $1,377, analysts looking for a commodity to be bullish about have turned their focus to natural gas as a new commodity “safe haven,” thanks to the shale revolution.

With the price of gold now down nearly 30% from its record September 2011 high of $1,920.30/oz to around $1,377, analysts looking for a commodity to be bullish about have turned their focus to natural gas as a new commodity “safe haven,” thanks to the shale revolution.