Petroleum

A discovery that may represent a natural gas resource of 5-8 Tcf has been discovered offshore Cyprus by ExxonMobil Corp., which partners in the block with Qatar Petroleum.

Mozambique LNG1 Co. Pte. Ltd. on Friday announced it has another natural gas supply agreement for the proposed export project led by Anadarko Petroleum Corp.

With a history of past rejection, the California legislature may again consider a 10% oil and natural gas severance tax, similar to what exists in many other producing states, according to state Sen. Bob Wieckowski, who authored Senate Bill (SB) 246.

The Colorado Supreme Court on Monday ruled in favor of state regulators about how much weight needed to be given to public health and environmental concerns.

State-owned Qatar Petroleum (QP), the No. 1 liquefied natural gas (LNG) supplier in the world, plans to develop additional gas reserves in the country’s North Field to increase liquefaction capacity by 43%.

Even though the traditional wildfire season has yet to begin, the Western Governors’ Association (WGA) was keeping a wary eye on fires that have already collectively scorched more than two million acres in California, Colorado and Utah, though with minimal impact so far on oil and natural gas operations.

Driven by oilfield technology advances, Colorado has doubled its natural gas production since 2001, boosting the state’s economy in the process, according to a report by the Colorado Petroleum Council, a division of the American Petroleum Institute (API).

Investment funds managed by Morgan Stanley Energy Partners (MSEP) and Presidio Investment Holdings LLC are partnering to acquire Anadarko Basin oil and natural gas assets in Texas and Oklahoma from Midstates Petroleum Co. Inc.

Houston-based Ultra Petroleum Corp. on Tuesday claimed more strong results from its natural gas-rich prospects in the Pinedale Anticline, while also divulging that chief Mike Watford will retire in February as part of a sweeping management overhaul.