Piceance

State agencies in Colorado and Utah are partnering with Colorado Mesa University (CMU) on a $117,000 report to help the states promote both at home and abroad the natural gas produced in the Piceance and Uintah basins.

Encana Corp. on Friday agreed to sell its natural gas assets in Colorado’s Piceance Basin, including 550,000 net acres and 3,100 operated wells to Denver-based Caerus Oil and Gas LLC in a deal valued at $735 million.

The U.S. Bureau of Land Management (BLM) on Monday launched a public comment period for a proposed oil and natural gas leasing sale in December that covers 28 parcels in northwestern Colorado within the Piceance Basin.

Encana Corp. is gaining more control over its capital spending in Colorado’s Piceance Basin after agreeing to sell a 49% stake in its southern operations to steelmaker and long-time partner Nucor Corp., a spokesman told NGI’s Shale Dailyon Tuesday.

The story “Citadel Buys WPX NatGas Transport Agreements in Piceance” was incorrect (see Shale Daily, May 26). WPX bought out the remaining transportation obligations supporting its former Piceance Basin operations and released the firm capacity to Citadel NGPE LLC. NGI regrets the error.

Natural gas-heavy WPX Energy Inc. is selling its Piceance Basin properties in Colorado to a recently formed independent for $910 million, solidifying its decision to focus less on gas and more on its oily portfolio in the onshore.

WPX Energy Inc.’s remarkable results from natural gas drilling in the Piceance Basin will play second fiddle to oil targets this year as the Tulsa producer attempts to right its financial performance, the CEO said Tuesday.

Rapid City, SD-based Black Hills Corp. is staying “very focused” on its oil/natural gas assets, despite reporting more red ink in that sector.

WPX Energy Inc., which of late has been drilling some of the most prolific natural gas wells in Colorado, said it plans to spin off some of its mature, producing properties in the Piceance Basin through a master limited partnership (MLP).