ConocoPhillips is selling a package of properties in the Cedar Creek Anticline (CCA) of North Dakota and Montana to Denbury Resources Inc. for $1.05 billion cash.
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Europe’s EDF Trading has acquired ConocoPhillips’ Midwest commercial and industrial (C&I) natural gas portfolio, the EDF Group subsidiary said Thursday. Financial details of the transaction were not disclosed.
Continental Resources Inc. has launched a growth plan to triple production and proved reserves between now and the end of 2017, largely from its leading Bakken Shale position, but also with gains from other onshore holdings, including a discovery in the southwest corner of Oklahoma.
ExxonMobil Corp. has increased its hold in the Bakken Shale to nearly 600,000 net acres after agreeing to acquire Denbury Resources Inc.’s entire portfolio in the play, 196,000 net acres. The North Dakota and Montana properties had average production in the first six months of this year of about 15,400 boe/d, 88% weighted to oil and liquids.
Oregon regulators extended for another 12 months the same portfolio of retail energy options for private-sector natural gas and electric utility customers throughout the state. The Oregon Public Utility Commission (PUC) followed the recommendation of a third-party options committee in letting stand current programs for residential and nonresidential customers of NW Natural, PacifiCorp and Portland General Electric Co. The programs are designed to give utility customers options for supporting alternative energy development. Customers will continue to be able to voluntarily participate in NW Natural’s greenhouse gas emissions offset program and the two electric utilities’ offers for time-of-use, green source and wind power sources.
First quarter performance from EOG Resources Inc.’s “big four” oil and liquids plays was substantial enough to raise this year’s total company liquids production growth target to 33% from 30% and increase the overall production growth target to 7% from 5.5%.
Chesapeake Energy Corp., which has used a variety of savvy financial means to raise money for exploring and developing its vast unconventional portfolio in the United States, is preparing to launch its diverse onshore oilfield services unit through an initial public offering (IPO), a separate company that would continue to be closely tied to its main customer, the Oklahoma City-based producer.