Houston-based Hilcorp Energy Co., one of the largest private operators in the country and the largest in Alaska, pulled a stunner Tuesday, agreeing to pay BP plc $5.6 billion for all of its legacy operations and interests.
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After securing a memorandum of understanding (MOU) with Korea Gas Corp. (Kogas) to cooperate on liquefied natural gas (LNG) issues, Alaska’s state-owned natural gas corporation said it will accept expressions of interest for capacity on its Alaska LNG Project through the end of August.
The Supreme Court of Appeals of West Virginia has reversed a lower court ruling that approval by those holding oil and natural gas royalty rights is required for pooling agreements in the state’s Marcellus Shale.
Energy investment firm Kalnin Ventures LLC has cut another deal to acquire more nonoperated Marcellus Shale interests in Northeast Pennsylvania on behalf of its client Banpu pcl.
U.S. oil and natural gas mergers and acquisition activity (M&A) plunged in the second quarter from the first three months of 2012, with divestitures driving activity, according to PwC US.
ENGlobal Corp. has been awarded a $5 million contract to provide engineering and procurement support services for a cryogenic processing plant being built in Carroll County, OH, and owned by Utica East Ohio Midstream LLC (UEO).
FERC on Friday issued a favorable environmental assessment (EA) of Tallgrass Interstate Gas Transmission’s proposal to convert the Pony Express Pipeline to meet the increasing demand for crude oil transportation service out of the Bakken formation.
Western Gas Partners LP has exercised an option to acquire a 25% interest in a joint venture with Enterprise Products Partners LP to own two fractionation trains (Trains 7 and 8) being constructed in Mont Belvieu, TX. The trains, scheduled to begin service later this year, would be operated by Enterprise. Western, formed by Anadarko Petroleum Corp., also plans to begin constructing a second cryogenic processing train at its Lancaster plant in the Denver-Julesburg Basin this year. Lancaster II is expected to have a capacity of 300 MMcf/d with throughput of 200 MMcf/d guaranteed by an Anadarko subsidiary. The partnership anticipates the project will cost $165 million, with 50% spent in 2013 and the remainder spent by early 2015. The new train is expected to begin operating in early 2015.
Crosstex Energy Inc. will invest about $25 million in a third natural gas compression and condensate stabilization facility in the Ohio River Valley through E2, a company Crosstex formed in March with former management of Enerven Compression Services to serve Utica Shale producers.