French producer Toreador Resources Corp. and ZaZa Energy LLC, a privately held oil and gas company based in Houston, have announced plans to merge in a cash and stock deal valued at approximately $294 million, creating a single company with significant shale holdings on two continents.
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‘Tectonic Shift’ Said Under Way in Midstream Sector
The drillbit is moving from unconventional dry natural gas activity to wetter gas and crude, but the infrastructure has yet to catch up, increasing barriers to entry for some and giving existing operators a “natural edge,” an analyst with Tudor, Pickering, Holt & Co. Inc. (TPH) said in new research on the midstream sector.
‘Tectonic Shift’ Under Way in Midstream Sector
The drillbit is moving from unconventional dry natural gas activity to wetter gas and crude, but the infrastructure has yet to catch up, increasing barriers to entry for some and giving existing operators a “natural edge,” an analyst with Tudor, Pickering, Holt & Co. Inc. (TPH) said in new research on the midstream sector.
North Carolina Energy Bill Nears Passage
Lawmakers in the North Carolina General Assembly are close to giving final passage to a bill that would allow offshore natural gas drilling, create a compact with neighboring states and set up an state advisory board on energy matters.
North Carolina Offshore Drilling Bill Nears Passage
Lawmakers in the North Carolina General Assembly are reportedly close to giving final passage to a bill that would allow offshore natural gas drilling, create a compact with neighboring states and set up an state advisory board on energy matters.
Questar Gets OK to Extend Southern Transmission System
FERC on Wednesday approved Questar Pipeline Co.’s request to further extend its southern transmission system, giving shippers access to natural gas supplies in the Uintah Basin of Utah.
Arkansas High Court Upholds Dismissal of Gas Lease Lawsuit
The Supreme Court of Arkansas on Thursday upheld a lower court ruling dismissing a lawsuit against the Arkansas Game and Fish Commission (AGFC) for leasing thousands of state-protected wildlife acres in the Fayetteville Shale for gas exploration.
DRBC Extends Comment Period for Marcellus Regulations
The Delaware River Basin Commission (DRBC) is giving the public another month to comment on proposed regulations for natural gas development in the four-state watershed. The federal/interstate agency will now take comments through April 15.
Pennsylvania Groups Ask Corbett to Maintain Forest Drilling Moratorium
Citizens for Pennsylvania’s Future (PennFuture) and 40 other state organizations have sent a letter to Gov.-elect Tom Corbett asking him to maintain the moratorium signed last year by Gov. Ed Rendell that prevents new leases for deep natural gas drilling in the state’s forests.
Trend Still Lower, Yet December Adds 4.6 Cents
December natural gas futures managed a small gain Monday as some traders attributed favorable weather forecasts to giving the market a modest lift. December futures rose 4.6 cents to $3.845 and January also added 4.6 cents to settle at $4.028. December crude oil eased 2 cents to $84.86/bbl.