natural gas prices

Progress Energy Canada Ltd., a subsidiary of Petroliam Nasional Berhad, has completed an agreement to acquire Talisman Energy Inc.’s assets in the Julienne area of the Montney formation in northeast British Columbia (see Daily GPI, Nov. 8, 2013). Progress also acquired Talisman’s interest in the Kobes area where they had joint operations, and a half-stake in Talisman’s interest in the Farrell and Cypress areas (see Shale Daily, Dec. 21, 2010). Progress in January completed a transaction to acquire other Julienne assets, including four uncompleted wells and about 33,500 net acres. Talisman retains its Groundbirch and Saturn assets, including 48,000 net acres of prospective Montney land.

Resolute Energy Corp. said its first horizontal wells targeting the Delaware Basin and part of the Powder River Basin have exceeded its expectations, and the company plans to devote most of its 2014 budget to capital expenditures (capex) in the two plays.

With some local oil and natural gas drilling ballot measures now on the books and a new, first-of-its-kind set of methane emissions rules (see Daily GPI, Feb. 24), Colorado’s focus has shifted to potential ballot measures this fall to further regulate energy operations, according to the Colorado Oil and Gas Association (COGA).

Republican Ohio Gov. John Kasich on Tuesday proposed a 2.75% oil and gas severance tax, which is slightly higher than a delicate proposal put forward by his party now being debated in the state’s House of Representatives.

Gulf of Mexico (GOM) player Energy XXI, which has made a name for itself through production expertise and horizontal drilling finesse, is taking over EPL Oil & Gas Inc. in a friendly merger that would create the largest public independent on the Outer Continental Shelf (OCS). Proforma production would be close to 65,000 boe/d.

Crowley Maritime Corp. said Wednesday a subsidiary has been awarded a multi-year contract to supply U.S.-sourced liquefied natural gas (LNG) in Puerto Rico (PR) to its first industrial customer, Coca-Cola bottlers.

With Marcellus/Utica shale producers still clamoring for exits from the gas-bloated region, numerous pipelines have been stepping up with capacity offers on their systems.

The North American energy sector — from exploration and production (E&P), oilfield services and midstream — still has a big target on its back again this year among activists that want to force changes, according to Moody’s Investors Service.

An explosion and the collapse of two buildings Wednesday morning that resulted in at least two deaths in the East Harlem section of New York City are believed to have been caused by a natural gas leak.