Minerals

Shell Offshore Inc.’s exploration plan for two leases in the Beaufort Sea has been deemed complete by the U.S. Department of the Interior’s Minerals Management Service (MMS). The agency has 30 days to evaluate the plan.

Shell Offshore Inc.’s exploration plan for two leases in the Beaufort Sea has been deemed complete by the U.S. Department of the Interior’s Minerals Management Service (MMS). The agency has 30 days to evaluate the plan.

The appellate court in Washington, DC, last Tuesday ruled that Interior Department’s Minerals Management Service (MMS) can move forward uninterrupted with oil and natural gas sales under the contested five-year (2007-2012) leasing plan in the Gulf of Mexico (GOM).

The appellate court in Washington, DC, late Tuesday ruled that Interior Department’s Minerals Management Service (MMS) can move forward uninterrupted with oil and natural gas sales under the contested five-year (2007-2012) leasing plan in the Gulf of Mexico (GOM).

Privately backed producer Indigo Minerals LLC has returned to the acquisition market after making a $218 million cash deal with Chesapeake Energy Corp. to acquire some producing properties, undeveloped acreage and midstream assets spread across northern Louisiana, East Texas and Arkansas. Under the agreement, Indigo would acquire stakes in 519 of Chesapeake’s producing wells that are located in more than 60 fields. The transaction also includes 40,000 undeveloped acres, bringing the total acreage position to be sold to Indigo to more than 122,000 net acres. Indigo would operate 219 of the newly acquired wells, and it would gain a working interest in another 300 of the Chesapeake-operated wells in the region. Net production following the acquisition “will approach 40 MMcfe/d, and total proved reserves will exceed 220 Bcfe,” said Indigo, which is based in Houston. Chesapeake would retain its deep leasehold rights in the Haynesville Shale properties, Indigo said. The acquisition follows a divestment phase by Indigo that began in 2008, when the company sold 89,000 acres of mineral rights in the Haynesville Shale to EnCana Corp. for $457 million (see NGI, June 30, 2008).

Privately backed producer Indigo Minerals LLC has returned to the acquisition market after making a $218 million cash deal with Chesapeake Energy Corp. to acquire some producing properties, undeveloped acreage and midstream assets spread across northern Louisiana, East Texas and Arkansas.

The National Oceanic and Atmospheric Administration (NOAA) Thursday forecast a “near-normal” Atlantic hurricane season this year, but the Minerals Management Service (MMS) and offshore operators are preparing for all possibilities.

The National Oceanic and Atmospheric Administration (NOAA) Thursday forecast a “near-normal” Atlantic hurricane season this year, but the Minerals Management Service (MMS) and offshore operators are preparing for all possibilities.

Royal Dutch Shell plc’s Alaska unit said Wednesday it has abandoned a three-year plan to explore for oil and gas in Alaska’s Beaufort Sea.