The American Petroleum Institute (API) plans to launch an ad campaign Tuesday urging members of the joint House-Senate super-committee not to raise taxes for the oil and natural gas industry.
Launch
Articles from Launch
Statoil to Acquire Brigham and With It, Williston Entry
Norwegian heavyweight Statoil ASA, which already holds substantial assets in the Marcellus and Eagle Ford shales, has a deal on the table to acquire Austin, TX-based independent Brigham Exploration Co., which would give it access to the Williston Basin’s Bakken and Three Forks oily formations.
Dynamic Offshore Builds GOM Portfolio
Dynamic Offshore Resources LLC, which has been on a buying spree in the Gulf of Mexico (GOM) prior to the launch of an initial public offering (IPO), is paying ExxonMobil Corp. $182.5 million to acquire some offshore wells and properties that are 60% weighted to natural gas. The 13.5 million boe in new reserves would pump up Dynamic’s reserves base by nearly one-third (31%).
Dow Chemical Expands U.S. Facilities to Use Abundant NatGas
The abundance of shale gas being produced in the Marcellus and Eagle Ford shales has led Dow Chemical Co. to launch an ambitious plan to increase ethylene and propylene production, as well as integrate U.S. operations into feedstock “opportunities” now available from the increasing gas supplies.
Marcellus, Eagle Ford Gas to Fuel Dow Chemical Expansion
The abundance of shale gas being produced in the Marcellus and Eagle Ford shales has led Dow Chemical Co. to launch an ambitious plan to increase ethylene and propylene production, as well as integrate U.S. operations into feedstock “opportunities” now available from the increasing gas supplies.
Industry Briefs
Two multi-state organizations, with the help of oil and gas companies, are preparing to launch a website Monday (April 11) that will provide the public with a comprehensive list of chemicals used in hydraulic fracturing. The website, fracfocus.org, is being developed by the Ground Water Protection Council (GWPC) and the Interstate Oil and Gas Compact Commission. “This is pretty unique,” GWPC spokesman Mike Nickolaus told NGI. “Some of the oil and gas companies have done some of this on their own in the past, and the service companies have something too, but it’s not at all like this. This will be the only multi-state, multi-operator registry of this sort.” Once the website is online, the public would be able to search for wells by state, county or their American Petroleum Institute number. Twenty companies, both producers and service companies, already have registered and agreed to voluntarily upload data about their operations.
Fracking Chemicals Website to Launch Next Monday
Two multi-state organizations, with the help of oil and gas companies, are preparing to launch a website Monday that will provide the public with a comprehensive list of chemicals used in hydraulic fracturing.
New Mexico Regulators to Investigate Gas Delivery Failure
New Mexico regulators on Thursday indicated they will launch a “formal and thorough” investigation of the causes for the recent natural gas service interruptions for customers of New Mexico Gas Co. The state Public Regulation Commission (PRC) is drafting an order to start the probe at the urging of its chairman, Patrick Lyons.
California Consumer Group Calls for New San Bruno Pipe Probe
Consumer advocates on Wednesday asked the California Public Utilities Commission (CPUC) to launch a new statewide investigation of the fatal natural gas transmission pipeline explosion last September in San Bruno, a suburb south of San Francisco.
Industry Briefs
Privately held Kinder Morgan Inc. has announced plans to rejoin the New York Stock Exchange with the launch of an initial public offering (IPO) for up to $1.5 billion. Parent company Kinder Morgan Holdco LLC said all of the stock for the IPO would be sold by existing investors including Chairman Richard Kinder and his wife, who together hold a stake of about 31% in the company. Other sellers include Goldman, Sachs & Co., Highstar Capital LP, The Carlyle Group and Riverstone Holdings LLC. The company plans to list under its former symbol “KMI.” Timing of the IPO was not disclosed. In 2007 Kinder Morgan went private in an estimated $15 billion buyout (see NGI, June 4, 2007). Kinder Morgan owns the general partner and about 11% of the limited partner interests in Kinder Morgan Energy Partners, one of the largest publicly traded U.S. pipeline master limited partnerships, which has an enterprise value of more than $30 billion.