Continuing to focus ever more sharply on liquids-rich and oil projects, Range Resources Corp. has entered into an agreement to sell for $275 million some of its gassier Permian Basin properties in New Mexico and West Texas.
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Scotland-based oilfield services provider The Weir Group plc continues to expand its U.S. onshore holdings, the latest deal being the acquisition of Oklahoma’s Mathena Inc.
Natural gas transmission companies have been keeping FERC busy with project paperwork, as the industry segment tries to adjust to a marketplace being altered by shale gas.
With shipper contracts expiring in 2015, Alliance Pipeline Ltd. plans to develop receipt and short-haul services that take advantage of the pipeline’s location near developing gas shale plays in British Columbia and North Dakota, Alliance said. The new offerings will complement the pipeline’s “bullet line” service from Western Canada to Chicago, as well as provide hub services such as the Natural Gas Exchange and the Alliance Chicago Exchange project.
Calling current times “very exciting but challenging” for the energy sector, FERC Commissioner Philip Moeller told an industry gathering in Seattle Monday that he thinks the California Independent System Operator’s (CAISO) long-anticipated Market Redesign Technology Update (MRTU) is going to come to fruition later this year, noting the usual qualifier that he was offering his personal opinion and not that of the federal commission. Moeller was a keynote speaker at the Law Seminars International conference, “Buying and Selling Electric Power in the West.”
Scorching temperatures in the Northeast and Midwest made forexciting times in the power market last week, which also saw therelease of three portions of a nationwide power study that predictsmore excitement ahead.
Scorching temperatures in the Northeast and Midwest made for anexciting Monday in the power market on a day when a new studypredicts gas-fired generation development in the Northeast couldeasily cause gas demand in the sector to double by 2010. And evenwith the addition of Sable Island gas, the Northeast will need tocontinually add capacity to keep up with new generation additions.