Nine

Not satisfied with the nine-month high notched on Tuesday, November natural gas futures continued to press the upside for a majority of Wednesday’s regular session before collapsing in afternoon trade to close at $5.100, down 6.1 cents from Tuesday’s finish.

Nine nationwide projects designed to improve water resource management practices at shale gas and coalbed methane (CBM) drilling sites were given a green light to move forward with funding from the Department of Energy’s National Energy Technology Laboratory (NETL). The projects come at an opportune time as state and federal regulators scrutinize hydraulic fracturing at oil and gas drilling sites (see related stories).

Nine nationwide projects designed to improve water resource management practices at shale gas and coalbed methane (CBM) drilling sites were given a green light to move forward with funding from the Department of Energy’s National Energy Technology Laboratory (NETL).

Nine U.S. states made the top 10 in a ranking of 143 jurisdictions worldwide based on their openness to upstream oil and gas activity, according to survey results compiled by the Fraser Institute in its “Global Petroleum Survey 2009.” Jurisdictions in North America, Europe, Australia and New Zealand generally were the most open, according to the 577 industry executives and managers who responded to the survey.

Nine U.S. states made the top 10 in a ranking of 143 jurisdictions worldwide based on their openness to upstream oil and gas activity, according to survey results compiled by the Fraser Institute in its “Global Petroleum Survey 2009.” Jurisdictions in North America, Europe, Australia and New Zealand generally were the most open, according to the 577 industry executives and managers who responded to the survey.

After nine years as an express route to Chicago, Alliance Pipeline has set out to take advantage of growing natural gas supplies in northern British Columbia by diversifying. Until July 15, the transporter is holding an open season auction of proposed new services for BC producers.

After nine years as an express route to Chicago, Alliance Pipeline has set out to take advantage of growing natural gas supplies in northern British Columbia by diversifying. Until July 15, the transporter is holding an open season auction of proposed new services for BC producers.

Apache Corp. has completed its previously announced acquisition of nine Permian Basin oil and gas fields with current net production of 3,500 boe/d from Marathon Oil Corp. (see Daily GPI, May 1). Apache paid $181.1 million, reflecting closing adjustments based on the Jan. 1 effective date of the transaction. Apache acquired Marathon’s company-operated assets located in Lea County, NM, and Reagan, Howard and Sterling counties in Texas, as well as Marathon’s interests in the Chenot/Putnam area in Pecos County, TX. The properties have a current net production of 10 MMcf/d of natural gas, 1,332 b/d oil and 524 b/d of natural gas liquids. “Of the acquired properties, approximately 75% of the proved reserves and 61% of the current production directly offset the Apache-operated Northeast Drinkard Unit in Lea County, NM,” said John Crum, president for North America. When Apache started downsizing well-spacing at the Northeast Drinkard Unit from 16 wells per square-mile section to 32 wells per section, field production grew from 700 b/d to 2,000 b/d. The newly acquired properties have 16 wells per section. Prior to the acquisition, Apache’s net production in the Permian Basin was 34,500 b/d of oil and 86 MMcf/d of gas.

Apache Corp.’s acquisition of nine Permian Basin natural gas and oil fields from Marathon Oil Corp. may be the first of several purchases this year, executives said Thursday.