Offering

DOE Grants $30M for NGV Programs

The U.S. Department of Energy (DOE) said Thursday it was offering another $30 million in grants aimed at advancing the equipment and technology critical to the use of natural gas vehicles (NGV). DOE’s Advanced Research Projects Agency-Energy (ARPA-E) announced the new funding under a vehicular category focused on methane’s use in transportation.

July 16, 2012

GOP Alternative Plan Calls for Leasing Offshore Virginia

House Republicans are offering an alternative to the Obama administration’s plan for drilling in the Outer Continental Shelf (OCS), which would nearly double the number of lease sales now proposed over the 2012-2017 period and open up new areas — the Mid-Atlantic and Southern California — to exploration.

July 12, 2012

FTS International Ratings Cut on Moderating Frack Demand

Standard & Poor’s Ratings Services (S&P) has cut the corporate credit rating of Fort Worth, TX-based FTS International Services LLC, one of the top five hydraulic fracturing (fracking) service providers in North America, because it said capacity additions and rising costs, combined with moderating demand and low natural gas prices, are pressuring margins in the fracture stimulation industry.

June 4, 2012

North Dakota Sets New Fracking Rules

Offering new guidelines on hydraulic fracturing (fracking), North Dakota’s Department of Mineral Resources (DMR) said Wednesday its 2012 oil/gas rule changes were approved as of Wednesday and become effective April 1. The revised rules cleared the state’s Administrative Rules Committee Wednesday morning, according to a DMR spokesperson.

March 19, 2012

Quicksilver to Launch IPO for Barnett Assets

Quicksilver Resources Inc. said that its Barnett Shale subsidiary, Quicksilver Production Partners LP (QPP), has registered for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC).

February 13, 2012

SandRidge Moves Offshore, Buys GOM Producer

U.S. landlubber SandRidge Energy Inc. has taken the wind out of the sails of investors eager to take part in an initial public offering (IPO) of Dynamic Offshore Resources LLC after agreeing to buy the Gulf of Mexico (GOM) producer outright for nearly $1.28 billion.

February 6, 2012

SandRidge Moves Offshore, Buys Gulf of Mexico Producer

U.S. landlubber SandRidge Energy Inc. has taken the wind out of the sails of investors eager to take part in an initial public offering (IPO) of Dynamic Offshore Resources LLC after agreeing to buy the Gulf of Mexico (GOM) producer outright for nearly $1.28 billion.

February 3, 2012

Industry Brief

Quicksilver Resources Inc. has priced a public offering of 6,967,844 units of BreitBurn Energy Partners LP. The units are offered at $16.52 each. Closing is expected to occur on or about Dec. 5. Analysts at Tudor, Pickering, Holt & Co. said the move was expected as part of Quicksilver’s liquidity plan (see Daily GPI, Oct. 21) and a “smart move to take advantage of an open equity/capital markets window.” Underwriters have been granted a 30-day option to purchase up to 1,045,177 additional units from Quicksilver to cover over allotments.

December 1, 2011

National Fuel Continues Focus on Marcellus, Utica and Geneseo Shales

While the Marcellus Shale continues to drive growth for National Fuel Gas (NFG) Co., the Williamsville, NY-based company is now offering details on its short-term plans for the Upper Devonian/Geneseo and the Utica shales, the company told analysts recently.

September 15, 2011

TransCanada Offering 32% Mainline Toll Cut

TransCanada Corp. is offering a 32% cut in tolls next year on its Mainline from Alberta to central Canada and the United States through a “comprehensive restructuring” to revive traffic on the beleaguered, half-century-old natural gas conduit.

September 6, 2011
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