It may be too early to compare it to Houston, but little Canonsburg, PA — until recently known more for its annual Fourth of July parade than its business district — has over the past two years become the home to some of the Marcellus Shale’s biggest operators.
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Chesapeake Welcomes Icahn’s Input, Says Spokesman
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).
Northwest’s Sundance Trail OK’d for Service
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.
Consol Posts Record Quarterly Gas Production
Appalachian Basin player Consol Energy Inc. may be known as a coal producer, but the company’s natural gas profile is growing in prominence.
Noble Signals Deepwater Drilling Still Viable
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.
Noble Buys Deepwater Driller, Inks Shell Agreements
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.
EPA Urged to Back Off Hydrofrac Regulation
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.
EPA Urged to Back Off from Hydrofracing Regulation
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.
Industry Brief
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.
Industry Brief
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.