Northwestern

ExxonMobil Corp. has been given permission to drill more natural gas wells in the Piceance Basin of northwestern Colorado. The new wells will be in an existing gas field under development since the 1950s.

The Bureau of Land Management (BLM) approved a proposal by ExxonMobil Corp. to drill more natural gas wells in the Piceance Basin of northwestern Colorado. The new wells will be in an existing gas field under development since the 1950s.

BP plc on Tuesday announced plans to invest up to $2.4 billion through 2020 to recover an estimated 1.9 Tcf of coalbed methane (CBM) in the San Juan Basin of southwestern Colorado and northwestern New Mexico. The development program would grow BP’s current net San Juan production (425 MMcf/d net and 900 MMcf/d gross) by more than 20%, with output expected to exceed current production levels for at least 10 years.

With plans to concentrate its exploration and development efforts on the emerging Cotton Valley trend of East Texas and northwestern Louisiana, Houston-based Goodrich Petroleum Corp. last week agreed to sell nearly all of its South Louisiana assets to an undisclosed buyer for $100 million.

With a plan to concentrate its exploration and development efforts on the emerging Cotton Valley trend of East Texas and northwestern Louisiana, Houston-based Goodrich Petroleum Corp. agreed Tuesday to sell nearly all of its South Louisiana assets to an undisclosed buyer for $100 million.

Investment fund Patriot Exploration Co. Inc. said Wednesday it will contribute $14.5 million to a joint gas development project in the Big Horn Basin of northwestern Wyoming with Denver-based Bill Barrett Corp. The partnership will cover drilling on more than 160,000 net and 217,000 gross acres in the basin, which the Potential Gas Committee estimates holds 3.14 Tcf of gas but is significantly underexplored.

Investment fund Patriot Exploration Co. Inc. said Wednesday it will contribute $14.5 million to a joint gas development project in the Big Horn Basin of northwestern Wyoming with Denver-based Bill Barrett Corp. The partnership will cover drilling on more than 160,000 net and 217,000 gross acres in the basin, which the Potential Gas Committee estimates holds 3.14 Tcf of gas but is significantly underexplored.

With hot weather-driven power generation load remaining high and news surfacing of a low-pressure area in the northwestern Caribbean Sea that could develop into a storm threatening Gulf of Mexico production, prices ranged from flat to about 15 cents higher at nearly all points Wednesday.

Vista’s assets are located in three operating areas: Cutbank in northwestern Alberta near Talisman’s Deep Basin play, Retlaw/Enchant/Turin located in southeastern Alberta and Freefight in southwestern Saskatchewan. The Cutbank complex is Vista’s major asset, representing two-thirds of its revenue and value. Talisman has entered into a firm agreement for the sale of the assets at Retlaw/Enchant/Turin for $30.5 million and is in negotiations for the sale of the Freefight assets.