A bankruptcy court in New York has approved plans by Norse Energy Corp. USA to sell its assets, especially oil and gas leases for about 130,000 net acres in the state’s portion of the Marcellus and Utica shales.
Articles from Mark
NuStar Crude Oil Pipeline LP is holding a binding open season through Aug. 30 for capacity to transport Eagle Ford Shale crude oil from several terminal locations on its South Texas Crude Oil Pipeline System in Frio, McMullen, and La Salle counties, TX, to its Corpus Christi, TX, North Beach facility. The proposed South Texas System Project would include pipeline capacity upgrades to the segments of the South Texas System between NuStar’s Gardendale Terminal in La Salle County and NuStar’s Corpus Christi Terminal in Nueces County, TX, and would be constructed in two phases. The first phase would add incremental capacity to the South Texas System of 35,000 b/d; the second phase would add incremental capacity to the South Texas System of 65,000 b/d. For information, contact Mark Meador or Rick Webb at (210) 918-2000.
Two-year-old Appalachia-based upstart Eclipse Resources I LP, under the management of several shale veterans, has more than doubled its holdings in the Utica Shale in a deal to acquire Oxford Oil Co. LLC, and with it 184,000 net acres and 13.8 Bcfe of proved developed producing reserves.
Colorado’s oil production last year passed the 40 million bbl mark for the first time in 50 years, while natural gas and coalbed methane (CBM) production were down in the face of stubbornly low prices, according to preliminary data from the Colorado Oil and Gas Conservation Commission (COGCC).
DCP Midstream LLC and DCP Midstream Partners LP made several management and board changes effective Jan. 1. Tom O’Connor will retire as CEO of DCP Midstream but will remain chairman of the board for both DCP Midstream and DCP Midstream GP LLC, the general partner of DCP Midstream Partners, “until an appointed time in 2013.” Wouter van Kempen, formerly COO and president of DCP Midstream, will become CEO and president of DCP Midstream and CEO of the general partner. William Waldheim, president of the general partner, will join the general partner’s board. And, as had previously been announced, Mark Borer retired as CEO of the general partner on Dec. 31.
Chevron Corp. subsidiary Chevron Canada Ltd. will acquire a 50% operating interest in the Kitimat, British Columbia (BC), liquefied natural gas (LNG) export project and proposed Pacific Trail Pipeline (PTP), and a 50% interest in 644,000 acres of petroleum and natural gas rights in the Horn River and Liard basins in BC, and be a partner in the project and acreage with Apache Corp., the companies said Monday.
EOG Resources Inc. CEO Mark Papa said the company has no plans to sell its estimable onshore natural gas leaseholds. But he also doesn’t expect management to spend much time or money on the plays in 2013, he told analysts last week.
During the third quarter Irving, TX-based Pioneer Natural Resources Co. set a new production record in the Eagle Ford Shale, where it said its choke management program continues to improve well performance. Continued development of the Wolfcamp Shale in West Texas is setting the play up to be a “significant” contributor to production growth in the future, the company said.
If there is a “bet-the-farm” opportunity in natural gas infrastructure, it lies in the potential production growth in the Utica and Marcellus shale formations, according to Mark McGettrick, CFO of Dominion Resources in Virginia.