Houston-based Chimera Energy Corp. has licensed a shale oil extraction technology that is designed to replace hydraulic fracturing (fracking) with a process that was originally developed for use in areas that were too cold for the use of water. Chimera is keeping details of the process under wraps “until the company has their patent in hand, some details about exothermic extraction of shale oil will be closely held,” according to Chimera’s website. The company only said that it does not use “acids or explosives.” Non-hydraulic extraction is “a cheaper and more effective extraction method that does not affect groundwater at all,” according to Chimera, which said it has put in place a procedure for engineering its new method for mass production, patenting, licensing and sales. Testing and third-party certification of the process has begun, Chimera said.
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Sale of Shale Drilling Rights in Alberta Hits New Record
The Alberta Energy Ministry said it has sold a record C$2.68 billion in drilling rights so far this year, eclipsing the previous record of C$2.39 billion set in 2010.
Los Alamos Inventor Uses Sound Waves to Liquefy Natural Gas
A newly licensed technology from inventors at the Los Alamos National Laboratory promises to sharply lower the costs of gas liquefaction while also making liquefaction an option to oil producers around the world that typically flare their associated natural gas.
ICE to Launch NYC Electronic Trading and Training Center
Electronic energy marketplace IntercontinentalExchange (ICE) continued its busy week Wednesday in announcing that it has licensed office space at 2 World Financial Center in the downtown financial district of New York City. The company said the offices will serve as a “state-of-the-art” electronic trading center that will provide access to ICE’s electronic markets as well as host training and marketing activities.
Illinois Panel Adopts Gas Marketing Financial Requirements
The Illinois Commerce Commission (ICC) has adopted emergency rules that would require the state’s licensed marketers to meet more stringent financial qualifications. The rules, approved this week by the Commission and submitted to the Illinois secretary of state, take effect March 1, when the systemwide customer choice program by Nicor Gas is scheduled to begin.
Unitil Buys Into Internet Transactions
Unitil Corp. of Hampton, NH, acquired a minority interest inNorth American Power Brokers Inc. for $3 M in cash, and haslicensed and will deploy North American Power’s Internet-basedtechnology for electricity and gas energy sales to retailconsumers.
Automated Marketing Tool Gets Ohio Licensee
Large Ohio wholesale natural gas provider Beldenergy haslicensed Prosper NRG Marketing’s “Direct to Market” service toprovide marketers targeting Columbus, OH, with the capability ofgiving prospective customers “Instant Savings Analysis.”
