Management

A U.S. District Court in Denver ruled Wednesday that the Bureau of Land Management’s (BLM) practice of keeping secret from the public the identity of entities nominating public lands for oil and natural gas development is unlawful.

Occidental Petroleum Corp.’s (Oxy) board has launched a search for a new CEO as part of the company’s management succession planning process. The board has formed a search committee to review both internal and external candidates to replace current President and CEO Stephen Chazen, 65. No timetable has been set for the completion of the search. As previously announced, Oxy Executive Chairman Ray Irani, who is in his late 70s, will retire at the end of 2014.

Natural gas prices may not be attractive enough for some producers, but Encana Corp.’s management team said it’s possible to make enough money in the Haynesville Shale to justify a five-rig program this year.

ExxonMobil Corp. and Russia’s state-owned OAO Rosneft last week agreed to expand a 2011 strategic cooperation agreement for exploration and development, and Rosneft was offered an option to a big stake in the Point Thomson, AK, natural gas and condensate project.

Apache Corp. topped its overall production record for the fourth consecutive year, the company’s management team said Thursday. Average daily production in 2012 increased to 779,000 boe/d, up 5.4% year/year. Despite the impact of substantially lower Canadian natural gas prices, revenues for the year hit a record $16.9 billion.

The Bureau of Land Management (BLM) is deferring 20,000 acres in Colorado’s North Fork Valley from an lease sale set for Thursday (Feb. 14). Another 88,000 acres elsewhere in the state will be part of the sale.

The federal Bureau of Land Management (BLM) on Wednesday deferred 20,000 acres in Colorado’s North Fork Valley from an oil/natural gas lease sale set for later this month. Another 88,000 acres elsewhere in the state will be part of the sale.

Freeport-McMoRan Copper & Gold Inc.’s management team said Tuesday it expects to complete its splash into the oil and natural gas pool in March, which should immediately move it ahead of many of the largest U.S. explorers.

Oneok Partners LP Thursday launched plans to invest up to $500 million between now and 2015 to build additional natural gas liquids (NGL) infrastructure in some of its Midcontinent operations, with the bulk of the funds earmarked for the Williston Basin.