Oklahoma

Oklahoma City-based Crusader Energy Group Inc. began operating as a publicly held independent on Friday following completion of its merger with Dallas-based Westside Energy Corp.

Williams has completed the purchase of certain interests in Colorado’s Piceance Basin for approximately $285 million in cash from Oklahoma City, OK-based independent producer SandRidge Energy and other parties. The assets represent more than 1.9 Tcfe of probable and possible reserves on approximately 32,500 gross acres and 24,000 net acres, according to Williams. The transaction will boost Williams’ probable and possible reserves in the basin by more than 42% to 6.4 Tcfe, based on Williams year-end 2007 estimates. Williams noted that it also had 2.8 Tcfe of proved reserves at year-end 2007 in the Piceance Basin. The deal was announced earlier this month (see Daily GPI, May 9).

Growing gas production from unconventional basins in Texas, Oklahoma and Arkansas as well as the still-anticipated influx of large volumes of liquefied natural gas (LNG) on the Gulf Coast launched aggressive efforts by gas storage developers to expand existing and construct new facilities. Trouble is, according to one consultant, there may be more storage withdrawal capacity than there is pipeline capacity to handle it.

Growing gas production from unconventional basins in Texas, Oklahoma and Arkansas as well as the still-anticipated influx of large volumes of liquefied natural gas (LNG) on the Gulf Coast launched aggressive efforts by gas storage developers to expand existing and construct new facilities. Trouble is, according to one consultant, there may be more storage withdrawal capacity than there is pipeline capacity to handle it.

As natural gas production continues to grow in the Woodford Shale of southeastern Oklahoma, OGE Energy Corp. subsidiary Enogex Inc. is proposing new firm Section 311 natural gas interstate transportation service on the company’s intrastate pipeline system in the region. Enogex has opened a binding open season to solicit shipper interest in the plan.

As natural gas production continues to grow in the Woodford Shale of southeastern Oklahoma, OGE Energy Corp. subsidiary Enogex Inc. is proposing new firm Section 311 natural gas interstate transportation service on the company’s intrastate pipeline system in the region. Enogex has opened a binding open season to solicit shipper interest in the plan.

Oklahoma City-based Chesapeake Energy Corp. has looked at the markets for gas, producing properties and gas infrastructure and determined it’s a good time to unload some assets and scale back drilling and production plans, particularly in light of abundant supply and low prices.

Oklahoma City-based Chesapeake Energy Corp. has looked at the markets for gas, producing properties and gas infrastructure and determined it’s a good time to unload some assets and scale back drilling and production plans.

Constellation Energy Partners LLC (CEP) continued to expand its coalbed methane holdings in the Cherokee Basin of Oklahoma with the planned acquisition of Newfield Exploration Oil & Gas Properties, a subsidiary of Houston-based Newfield Exploration Co., for $128 million, the companies said Friday.