japan

SM Energy to Earn, Mitsui to Learn in Eagle Ford Deal

SM Energy Co. and a unit of Japan’s Mitsui & Co. Ltd. have struck a drilling carry agreement in the Eagle Ford Shale that is worth $680 million to the Denver-based producer and is part of its sell-down in the South Texas play. Mitsui, which already has a Marcellus Shale stake, recently announced a deal in Poland, where it said it plans to apply shale lessons learned in the United States.

June 30, 2011

Japan’s JGC Enters Eagle Ford with 10% Stake

Houston-based JGC Energy Development (USA) Inc. (JEDI), a unit of Yokohama, Japan-based engineering firm JGC Corp. (JGC), has agreed to acquire a stake in Eagle Ford Shale oil assets from TriTech LLC, the company said.

June 23, 2011

DJ Basin Bringing ‘Very Exciting’ Growth for Noble

Noble Energy Inc. CEO Chuck Davidson said he was “really pleased” with the company’s growth in the Denver-Julesburg (DJ) Basin.

May 3, 2011

Obama Sees Huge Potential of NatGas; Calls It ‘New Source of Energy’

Surrounded by disruptions of the Middle East oil supply and nuclear devastation in Japan, President Obama finally recognized the virtues of home-grown natural gas last week, labeling it “first” among the options available to shore up U.S. energy policy.

May 2, 2011

PG&E Delays Nuke Plant Relicensing

Citing public and industry concerns stemming from the disaster at Japan’s Fukushima Daiichi nuclear plant, Pacific Gas and Electric Co. (PG&E) on Monday said it will suspend a relicensing effort for its Diablo Canyon Nuclear Power Plant along the central California coast, pending the completion of updated seismic tests.

April 13, 2011

Marathon Sells Stake in DJ Basin Acreage to Japan’s Marubeni

Marathon Oil Corp. has struck a deal with Japan’s Marubeni Corp. to sell close to a one-third stake in 180,000 net acres in the natural gas-rich Denver-Julesburg (DJ) Basin for $270 million, or about $5,000 an acre.

April 11, 2011

No Tsunami Damage to Coastal California Nukes, Power Plants

While the West Coast of North America received a relatively light slap compared to the devastation in Japan following that nation’s worst-ever recorded earthquake and tsunami, California officials reported an estimated $50 million in damages, centered in two Northern California counties — Del Norte and Santa Cruz. The state’s string of coastal electric generation plants, except for the northern most at Humboldt Bay, reported no impact.

March 21, 2011

Gas Storage Project Draws Opposition in Sacramento, CA

Given the events in Japan and last September’s fatal natural gas pipeline rupture in California, residents in and around California state’s capital are stirring up eleventh-hour doubts about a proposed underground gas storage facility south of their city. Some Sacramento residents will not accept a final environmental report listing as remote the chance of a leak or accident at the proposed facility.

March 16, 2011

California Estimates $50M in Tsunami Damage; Power Plants Unaffected

While the West Coast of North America received a relatively light slap compared to the devastation in Japan following that nation’s worst-ever recorded earthquake and tsunami, California officials reported an estimated $50 million in damages, centered in two Northern California counties — Del Norte and Santa Cruz. The state’s string of coastal electric generation plants, except for the northern most at Humboldt Bay, reported no impact.

March 15, 2011

April Rises in Light Trading; Analyst Sees Weak Monday

April futures were confined to a narrow range Friday but managed to eke out a modest gain. The massive earthquake in Japan found its way into crude oil and natural gas trading, and the unwinding of long crude oil and short natural gas positions prompted a firm tone to the market.

March 14, 2011