Eight

A coalition of eight oil and natural gas associations has urged FERC not to move forward with a notice of inquiry (NOI) requiring industry members to report individual transactional data including prices.

For the third time in less than three months, Gulfport Energy Corp. and Windsor Ohio LLC, an affiliate of Wexford Capital LP, have agreed to make a transaction in the Utica Shale, this time for net acreage and a higher working interest (WI).

With natural gas and electric utility operations in eight states, Xcel Energy experienced flat demand and results last year that saw a drop in gas sales, and the prospect for this year and beyond is more of the same, according to CEO Ben Fowke.

Devon Energy Corp. is selling its assets in the Utica Shale in eastern Ohio, part of a strategy to raise new venture capital so it can focus on opportunities in the Permian Basin, Mississippian Lime and the Niobrara formation.

Noble Energy Inc. is considering a move to larger offices in the Marcellus Shale to accommodate its growing presence in the play.

Schlumberger Ltd. and Baker Hughes Inc. said they plan to report lower-than-expected profits for the final quarter of 2012 because of a slowdown in North American drilling activity and overcapacity in pressure pumping services.

Consol Energy Inc. and EQT Corp. were the only companies to submit bids for leases to drill for natural gas on 9,263 acres at Pittsburgh International Airport and Allegheny County Airport just outside of the city, according to the Allegheny County Airport Authority (ACAA).

Up to 85% of the projected revenues from California’s proposed greenhouse gas (GHG) cap-and-trade auction could be used to cut retail electricity rates during the next eight years, according to a proposed state regulatory decision released this month. Eventual cap-and-trade revenues in the state have been estimated to range from $5.7 billion to $22.6 billion through 2020.

Seven of eight wrongful death lawsuits related to the rupture of a a Pacific Gas and Electric Co. (PG&E) natural gas transmission line in San Bruno, CA two years ago have been settled, PG&E Corp. CEO Anthony Earley said Thursday.