Opportunities

Attracted by upside potential, myriad opportunities and sufficient funding, investors have poured into the upstream sector over the last decade, spending nearly $245 billion on exploration and production (E&P) transactions, according to a new study from analytics firm IHS Markit.

A coalition of seven conservation groups has filed a lawsuit in federal court against the U.S. Bureau of Land Management’s (BLM) allocation of more than 800,000 acres of federal lands in three western states to potential oil shale and tar sands development.

The Obama administration has issued a presidential permit for the 80-mile U.S. pipeline link in North Dakota that is slated to carry ethane as part of a 430-mile international pipeline through Saskatchewan and terminating in Alberta.

The White House climate action plan, announced in a speech Tuesday, comes down hard on coal-fired power plants, pledges continued support for the development and use of non-polluting renewable energy and promotes “cleaner-burning natural gas” as a bridge to a clean future.

Halcon Resources Corp. said Monday it will be spending more on its East Texas Eagle Ford Shale play, known as El Halcon.

There appears to be no scarcity of global shale gas opportunities, but it may be two years — or longer — before drilling progresses to commercial success, according to Raymond James & Associates Inc.

Around the middle of the year, SM Energy Co. management will have a clearer picture of how to allocate spending among a number of opportunities as it targets annual production growth of 15-20% over the next three years, executives said during a conference call Wednesday.

As a natural gas-only utility in a relatively slow-growth area, NW Natural sees some growth opportunities in the shift to more gas-fired electric generation and in the increasing interest in compressed natural gas (CNG) for transportation.

Around the middle of the year, SM Energy Co. management will have a clearer picture of how it will allocate its spending among a number of opportunities as it targets annual production growth of 15-20% over the next three years, executives said during a conference call Wednesday.