Mcmurray

Preparations began Sunday to resume nearly one million b/d of production shut down when a forest fire nicknamed “The Beast” forced evacuation of all 85,000 residents of the northeastern Alberta oil sands capital, Fort McMurray.

Gulfport Energy Corp. said Monday it has agreed to buy 30,000 net acres in the Utica Shale in eastern Ohio for approximately $300 million, a transaction that would boost the company’s position in the play to about 137,000 gross acres (99,000 net).

Murphy Oil Corp.’s plans to spin off its downstream operations will allow it to focus more time and money on exploration and production (E&P) opportunities, including a big leasehold in the Eagle Ford Shale, executives said Tuesday.

EnCana Corp. and Canadian Natural Resources Ltd. will be forced to shut in 121 natural gas wells south of Fort McMurray after the Alberta Energy and Utilities Board (EUB) concluded that future gas production from the Cold Lake Oil Sands Area Clearwater Formation “presents an unacceptable risk to a much larger bitumen resource” adjacent to the gas. The EUB also plans to assess later whether additional gas production should be shut in.