Historic

Kinder Morgan Inc.’s (KMI) acquisition of El Paso Corp. is taking place in a world of growing gas supply from non-historic basins, which is driving the need for new and different infrastructure: gas and liquids pipelines, processing, fractionation, etc. It’s too soon to say how a combined KMI-El Paso will play the infrastructure game, but consolidation among others shouldn’t be a surprise, energy analysts told NGI.

Employment in the core industries that drive Marcellus Shale development in Pennsylvania more than doubled to 20,837 people between 2008 and 2011, while employment in ancillary industries dropped by around 1% to 193,813, according the Center for Workforce Information and Analysis (CWIA) at the Pennsylvania Department of Labor and Industry.

Although all of its businesses were affected by historic flooding in the second quarter, Bismarck, ND-based MDU Resources Group Inc. saw its production in the Bakken Shale play in its home state jump 10% as part of quarter-over-quarter results that were down slightly.

Although all of its businesses were affected by historic flooding in the second quarter, Bismarck, ND-based MDU Resources Group Inc. saw its production in the Bakken Shale play in its home state jump 10% as part of quarter-over-quarter results that were down slightly.

Although all of its businesses were affected by historic flooding in the second quarter, Bismarck, ND-based MDU Resources Group Inc. saw its production in the Bakken Shale play in its home state jump 10% as part of quarter-over-quarter results that were down slightly.

OAO Rosneft has given BP plc until Monday (May 16) to negotiate an acceptable alternative to their historic share swap agreement announced in January. The “groundbreaking strategic alliance” to explore Russia’s largely unexplored Arctic region, considered key to BP CEO Bob Dudley’s plan to right the company, would give state-controlled Rosneft around 5% of BP’s ordinary voting shares in exchange for BP receiving 9.5% of Rosneft shares (see NGI, Jan. 17). However, BP already had joint venture (JV) exploration agreements with Alfa-Access-Renova (AAR), a Russian oligarch consortium, in TNK-BP. The group of Russian billionaires disputed the Rosneft alliance, and in March an arbitration tribunal extended an injunction of the agreement (see NGI, March 28). AAR in essence won its case before the tribunal, which said it would allow BP to move forward with the Rosneft share swap only if it agreed to cede its Arctic JV to TNK-BP.

Russia’s leading producer, OAO Rosneft, has given BP plc until next Monday to negotiate an acceptable alternative to their historic share swap agreement announced in January, which in total is estimated to be worth about $16 billion.

BP plc said it remains committed to finding a way to resolve differences with its Russian partners after an arbitration tribunal Thursday extended an injunction of a historic stock swap and alliance with OAO Rosneft.

After three years of increased exploration drilling and skyrocketing lease rates, Ohio should soon see Marcellus Shale development drilling, according to one state official.