Denver-based Venoco Inc., an independent exploration and production (E&P) company in California’s oil-dominated Monterey Shale, said Monday CEO Tim Marquez intends to buy back all the publicly held shares of the company he founded, subject to shareholder and regulatory approvals.
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Binghamton, NY, Enacts Two-Year Ban on Drilling
The City Council of Binghamton, NY, voted 6-1 Wednesday night in favor of enacting a two-year ban on hydraulic fracturing (fracking) within the city limits.
Permian Midstream Player Expanding Again
Nuevo Midstream LLC is beefing up its gas processing and treating capacity in the Delaware Basin near Orla, TX, targeting service to producers that are pursuing the liquids-rich Bone Spring, Wolfcamp and Avalon Shale plays, the company said Wednesday.
Crestwood CEO: Shales the Right Place for a Midstream MLP
Crestwood Midstream Partners LP is a bit of an anomaly in the midstream sector as it is focused exclusively on shale plays, CEO Robert Phillips told financial analysts Tuesday. It’s the only partnership that does so, save for the much larger Chesapeake Midstream Partners, he said.
Mexican Shale Discovery Prompts $10.4B Pipeline Plan
Prompted in large part by the recent discovery of significant shale gas deposits in the country’s north and east, Mexico will invest $10.4 billion to build more than 2,800 miles of natural gas pipelines and local distribution networks by 2018, a nearly 40% increase compared with the country’s current pipeline network, President Felipe Calderon said.
As Ohio Shale Plays Heat Up, Landowner Groups Cash In
When Rex Energy Corp. announced in August that it acquired the rights to lease about 11,000 net acres in Carroll County, OH, for $40 million, the company said it was doing so to develop a prospect in the Utica Shale play and expand its acreage position there.
Two ‘Other’ California Pipe Operators Offer Contrast
A year after the fatal Pacific Gas and Electric Co. (PG&E) San Bruno, CA, pipeline rupture, California’s two other state-regulated pipe operators offer a marked contrast when it comes to safety practices. They vary greatly from each other as well as from PG&E.
Petrochem Industry Eyes Economic Growth from Shale Gas
The natural gas liquids (NGL) in shale gas offer the United States a “tremendous opportunity” to strengthen manufacturing, boost economic output and create jobs, according to a report by the American Chemistry Council (ACC).
BC Government Offers Royalty Credits for Infrastructure Builds
The Province of British Columbia thinks it has a winner and is launching a new installment of its offer for royalty forgiveness in exchange for construction of roads and pipeline infrastructure. The province is putting up to C$120 million in royalty credits on the table to spark the next round of infrastructure development in BC’s petroleum and natural gas sector.
BC Government Offers Royalty Credits for Infrastructure Builds
The Province of British Columbia thinks it has a winner and is launching a new installment of its offer for royalty forgiveness in exchange for construction of roads and pipeline infrastructure. The province is putting up to C$120 million in royalty credits on the table to spark the next round of infrastructure development in BC’s petroleum and natural gas sector.