Triana Energy LLC and a unit of Marathon Oil Corp. will develop 82,000 acres of Marcellus Shale prospects in Fayette County, PA, and several counties in northern West Virginia, Triana said Thursday.
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Articles from Marathon
Eagle Ford Getting Lion’s Share of Rosetta Spending
Rosetta Resources Inc. will spend about 90% of its 2011 capital budget of $360 million on the liquids-rich window of the Eagle Ford Shale in South Texas, the Houston-based independent said. Spending will be funded from cash flow and planned asset sales in the Denver-Julesburg Basin and California.
Opening Round on Climate Change Underscores Complexity, Controversy
The marathon hearings by the House Energy and Commerce Committee last week were the “opening round” of serious debate on climate change legislation, with Democrats saying that their bill would create jobs and have minimal adverse impact on energy prices, while Republicans argued otherwise. Committee Chairman Henry Waxman (D-CA) plans to begin marking up the bill this week so that it can be sent to the House floor by the Memorial Day recess. Despite the accelerated pace, some say it’s unlikely that Congress will pass climate change this year.
Industry Brief
The Federal Energy Regulatory Commission has ordered ConocoPhillips and Marathon Oil to begin submitting semi-annual operation reports and significant incidents reports for their liquefied natural gas (LNG) export terminal and storage facility in Kenai, AK. The Commission in 1967 approved the companies’ request for authorization to export LNG from the Kenai facility, but FERC at the time did not subject the facility to the reporting and inspection requirements that now apply to all other operational LNG terminals. The Kenai facilities, which export LNG to Pacific Rim countries, “will be subject to a cryogenic design and technical review of the facility’s design, operation and maintenance” by FERC; regular Commission staff technical reviews and site inspections on at least an annual basis or more frequently; and will be required to file semi-annual operational reports that identify changes in facility design and operating conditions, abnormal operating experiences, plant modifications and future plans. Reports are to be filed within 45 days after each period ending June 30 and Dec. 31.
Alaska’s Enstar, Producers Ordered to Cap Gas Price
Officials at Alaska’s Enstar Natural Gas Co. must go back to the negotiating table with producers ConocoPhillips and Marathon Oil to hammer out gas pricing terms more favorable to consumers in the state’s Southcentral region, state regulators ruled.
Alaska Regulators Order Price Cap on Enstar Supply Deal
Officials at Alaska’s Enstar Natural Gas Co. must go back to the negotiating table with producers ConocoPhillips and Marathon Oil to hammer out gas pricing terms more favorable to consumers in the state’s Southcentral region, state regulators ruled.
Producers Agree to Modify ’98, ’99 Royalty Agreements
BP, ConocoPhillips, Marathon Oil, Shell, and Walter Oil and Gas signed agreements Thursday with C. Stephen Allred, U.S. assistant secretary of Land and Minerals Management, that address the problem of missing price thresholds in deepwater Gulf of Mexico oil and gas leases that were issued in 1998 and 1999. Under the new agreements the producers will pay additional royalties on oil and gas produced under the leases. However, the payments will be made for production that started on Oct. 1, 2006.
Alberta Dispute to Block ‘Sour’ Gas Development Heats Up
A new battle is developing in a marathon industry campaign to maintain access to a prime Alberta drilling target — “sour” natural gas, steeped in hazardous hydrogen-sulphide, which accounts for nearly one-third of the main Canadian producing province’s reserves.
Agrium Secures Gas Supplies for Cook Inlet Plant
Agrium Inc., one of the largest manufacturers in Alaska, has successfully negotiated a new natural gas supply contract with Cook Inlet producers to allow its Kenai, AK-based fertilizer plant to continue to operate until at least November 2006. Agrium’s continued operations are seen as one of the keys to progress on the long proposed North Slope gas pipeline.
Neptune Deepwater Project Gets Green Light
The Neptune deepwater project has been given the green light by partners Marathon Oil (30%), BHP Billiton (35% and operator), Woodside Petroleum (20%) and Maxus (US) Exploration, a subsidiary of Repsol YPF with a 15% stake. The project is expected to produce 50,000 boe/d, including up to 50 MMcf/d of natural gas, starting in late 2007.