Money

ONEOK Partners plans to invest another $260-305 million between now and the end of 2014 for new projects in the Bakken Shale in the Williston Basin, with most of the money earmarked for natural gas midstream projects.

Domestic exploration and production (E&P) companies often spend too much money and in turn deplete company value by chasing growth, acreage and reserves when they instead should focus on efficiency, returns and margins, the energy team at Tudor, Pickering, Holt & Co. Inc. (TPH) said Tuesday.

Talisman Energy Inc. plans to trim capital spending in its North American dry gas plays by 35% year/year to capitalize on higher oil prices.

Talisman Energy Inc. said Tuesday it will cut capital spending in its North American dry gas plays by 35% year/year to capitalize on higher oil prices.

Is the latter half of January going to be extra-cold (quite bullish) or merely seasonable (somewhat bearish)? A lot of money could be riding on making the best strategic trading choices in such circumstances, and a few traders have indicated that they’re not sure what path to follow.

Chevron Corp. is not being left behind in the race to acquire North American unconventional natural gas assets, thank you. But until it can make money by developing the resource base it now holds, those gassy development plans will be shelved, Vice Chairman George Kirkland told financial analysts on Friday.

Chevron Corp. is not being left behind in the race to acquire North American unconventional natural gas assets, thank you. But until it can make money by developing the resource base it now holds, those gassy development plans will be shelved, Vice Chairman George Kirkland told financial analysts on Friday.

Spending for global offshore operations and maintenance over the next five years is forecast to be more than $330 billion, with most of the money targeting North America’s offshore, energy analysts with Douglas-Westwood said in a report issued Tuesday.

The Minerals Management Service (MMS) took in 70% less in bid money during its Western Gulf of Mexico (GOM) lease sale Wednesday than it did during a sale of drilling rights off the coast of Texas last year. Agency officials attributed the disparity to lagging natural gas prices, less participation by independent producers and an “undercurrent” of litigation that marred the latest sale.