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National Oilwell Varco Inc. (NOV), which this year has completed six acquisitions worth $2 billion, on Thursday continued its shopping spree with a $2.5 billion cash offer for Texas operator Robbins & Myers (R&M). The deal would mark NOV’s biggest single acquisition since 2008, when it paid $7.7 billion to buy Grant Prideco.

Houston-based Vanguard Natural Resources LLC has closed on its acquisition of natural gas and liquids assets in the Arkoma Basin from Antero Resources for an adjusted price of $434.4 million, subject to post-closing adjustments. The effective date is April 1, 2012. The deal was announced early last month (see Shale Daily, June 5). Vanguard funded the acquisition with borrowings under its existing reserve-based credit facility. The borrowing base was increased from $670 million to $975 million in connection with an interim borrowing base redetermination to include the properties from the acquisition. Updated 2012 production and financial results guidance will be included with second quarter results, which are expected to be released on Aug. 2.

Legislators in the Pennsylvania General Assembly are scrambling to put the finishing touches on a tax code bill that could potentially offer billions in a tax break to companies in exchange for investing billions in an ethane cracker and associated manufacturing facilities.

Chesapeake Energy Corp. CEO Aubrey McClendon and National Oilwell Varco CEO Pete Miller, the lead independent director of the board, late Tuesday sent a letter to shareholders addressing”certain issues” raised last week by John Liu, the City of New York’s comptroller, who oversees the city’s pension funds.

Chesapeake Energy Corp. CEO Aubrey McClendon and National Oilwell Varco CEO Pete Miller, the lead independent director of the board, late Tuesday sent a letter to shareholders addressing “certain issues” raised last week by John Liu, the City of New York’s comptroller, who oversees the city’s pension funds.

British Columbia’s (BC) largest gas distributor has taken a lead position in a program allowing utilities and their customers to fund incentives for natural gas vehicle (NGV) use, thereby boosting the market for the province’s production.

British Columbia’s (BC) largest gas distributor has taken a lead position in a program allowing utilities and their customers to fund incentives for natural gas vehicle (NGV) use, thereby boosting the market for the province’s production.

A major producer group has called on the White House to take the lead in coordinating federal reviews of hydraulic fracturing (fracking) with the goal of avoiding redundancy and streamlining work.

A pair of bills introduced Tuesday by Rep. Edward Markey (D-MA) would block the exportation of domestic natural gas, which Markey said would lead to higher prices in the United States.