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Billionaire Carl Icahn, known for investing in what he considers underperforming companies and helping them to achieve a better value, has become Chesapeake Energy Corp.’s second-largest shareholder, according to a filing with the Securities and Exchange Commission (SEC).

Williams Partners LP’s Northwest Pipeline GP has received authorization from FERC to place its 30-inch diameter mainline loop, known as the Sundance Trail Expansion, into service.

Appalachian Basin player Consol Energy Inc. may be known as a coal producer, but the company’s natural gas profile is growing in prominence.

Offshore drilling giant Noble Corp. last week agreed to buy privately held FDR Holdings Ltd., also known as Frontier, in a transaction worth an estimated $2.16 billion. In turn, Frontier customer Royal Dutch Shell plc signed new deepwater drilling contracts with Noble.

Offshore drilling giant Noble Corp. on Monday agreed to buy privately held FDR Holdings Ltd., also known as Frontier, in a transaction worth an estimated $2.16 billion. In turn, Frontier customer Royal Dutch Shell plc signed new deepwater drilling contracts with Noble.

Federal regulation of the well stimulation technique known as hydraulic fracturing (hydrofracing) would hamstring the oil and natural gas industry and likely would force the U.S. to import natural gas from foreign sources, Rep. Jim Sensenbrenner (R-WI) told the head of the Environmental Protection Agency (EPA) last Wednesday.

Federal regulation of the well stimulation technique known as hydraulic fracturing (hydrofracing) would hamstring the oil and natural gas industry and likely would force the U.S. to import natural gas from foreign sources, Rep. Jim Sensenbrenner (R-WI) told the head of the Environmental Protection Agency (EPA) Wednesday.

Suncor Energy has agreed to sell some natural gas properties in Alberta to an undisclosed buyer for about C$235 million. The properties, known as Rosevear and Pine Creek, are in the Edson/Whitecourt area west of Edmonton, AB. Current production is 20.5 MMcf/d of natural gas and 540 b/d of liquids. The sale has an effective date of Jan. 1, 2010 and is expected to close in April. Still to be sold are some gas properties in Western Canada and the U.S. Rockies, all Trinidad and Tobago assets, and some noncore North Sea assets,which includes assets in The Netherlands. Suncor, which is focusing mostly on its oilsands production in Canada, said it has reached agreement to sell assets worth about C$1.54 billion.

Suncor Energy has agreed to sell some natural gas properties in Alberta to an undisclosed buyer for about C$235 million. The properties, known as Rosevear and Pine Creek, are in the Edson/Whitecourt area west of Edmonton, AB. Current production is 20.5 MMcf/d of natural gas and 540 b/d of liquids. The sale has an effective date of Jan. 1, 2010 and is expected to close in April. Still to be sold are some gas properties in Western Canada and the U.S. Rockies, all Trinidad and Tobago assets, and some noncore North Sea assets,which includes assets in The Netherlands. Suncor, which is focusing mostly on its oilsands production in Canada, said it has reached agreement to sell assets worth about C$1.54 billion.