Interests

Sparks flew Tuesday between national wind industry interests and the federal Bonneville Power Administration (BPA) over the large Pacific Northwest power market/transporter’s interim decision to temporarily limit nonhydroelectric supplies, such as wind and natural gas-produced power, due to the region’s record-breaking levels of water.

Houston-based independent Magnum Hunter Resources Corp.’s Triad Hunter LLC unit has bought Marcellus Shale oil and gas properties and leasehold mineral interests in Wetzel County, WV, for $20 million, the company said. The assets acquired include 2,225 net contiguous acres containing 20 identified horizontal drilling locations, of which seven gross locations are currently booked as proved undeveloped. A company analysis conducted in December found that the assets contained total proved reserves of about 11.5 Bcfe (16% proved developed producing) with net production of 517 Mcfe/d (100% natural gas).

Eagle Rock Energy Partners LP will purchase Tulsa-based CC Energy II, a portfolio company of Natural Gas Partners VIII LP that is also called Crow Creek Energy, for $525 million, the Houston-based partnership said Tuesday.

Privately held Crestwood Midstream Partners LP has completed its acquisition of midstream assets in the Fayetteville Shale in northwest Arkansas and the Granite Wash play in the Texas Panhandle, the Houston-based company said. The deal was announced in February.

While natural gas interests in California are wary about several proposed laws aimed at transmission pipeline operations in the wake of the San Bruno explosion last year, Pacific Gas and Electric Co. is raising a red flag on another gas issue that is tied to some of the current proposals to begin cutting into a $25 billion state budget deficit.

The Arkansas Public Policy Panel (APPP) released a report last week outlining what it perceives are the potential risks over natural gas development in the Fayetteville Shale play, and listing recommendations to minimize those risks.

While Talisman Energy Inc. has a diverse portfolio of international exploration and production (E&P) interests, in North America the company is focused largely on the Marcellus, Montney and Eagle Ford shales, plays in which its activities are in various stages of development. In the Marcellus, where its shale activities are the most mature, Talisman is enjoying improved well results as it continues to learn the play.

While Talisman Energy Inc. has a diverse portfolio of international exploration and production (E&P) interests, in North America the company is focused largely on the Marcellus, Montney and Eagle Ford shales, plays in which its activities are in various stages of development. In the Marcellus, where its shale activities are the most mature, Talisman is enjoying improved well results as it continues to learn the play.

Three groups representing financial interests Tuesday urged the Commodity Futures Trading Commission (CFTC) to not incorporate the antifraud rule used in securities markets into the futures and derivatives markets.