Houston-based Post Oak Energy Capital LP, which already has equity investments in several North American upstream operators, said Tuesday it has raised $600 million for a third fund to pursue the same strategy.
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Post Oak Energy Capital and funds managed by Goldman Sachs Asset Management have made a $100 million capital commitment to PetroEdge Energy III LLC, a newly formed oil and gas company based in Houston and focused on the Eagle Ford Shale.
Wyoming Gov. Matt Mead on Wednesday signed a new law changing the requirements for the state’s oil and natural gas supervisor, a post that has been vacant since June. Senate Enrolled Act 3 changes the criteria for the top oil/gas spot in the Wyoming Oil and Gas Conservation Commission (OGCC).
Natural gas cash prices soared Friday following a post-Christmas snow storm that dropped more than a foot of snow on large swaths of the Northeast. A handful of locations in the region even soared north of $10/MMBtu as pipelines were running at capacity with even more cold forecasted in the week ahead.
Colorado stakeholders in an ongoing voluntary water testing program related to oil and natural gas extraction activity support a statewide mandatory program, they said earlier this month, two days after the state government held its first public hearing on a proposed baseline groundwater monitoring program.
Most of the candidates who ran for office in New York on a platform opposed to hydraulic fracturing (fracking) were soundly defeated at the polls on Tuesday, but it was unclear if Republicans would maintain control of the state Senate with two races too close to call.
Antero Resources is selling all of its natural gas and pipeline assets in the Piceance Basin for $325 million in cash plus assumption of its Rocky Mountain firm transportation obligations in order to focus more on the Marcellus and Utica shales.
A vast majority of natural gas cash points took their cue from Tuesday’s 10.5-cent increase in September futures to post gains — albeit small — on Wednesday for Thursday delivery. However, if they continue to follow that model, declines could be in store on Thursday as the prompt-month futures contract on Wednesday gave nearly all of the prior-day’s gains away.
U.S. onshore and deepwater Gulf of Mexico (GOM) output helped Anadarko Petroleum Corp. post record sales volumes in the second quarter, but profits plunged following a $978 million write-down related to low natural gas prices on coalbed methane (CBM) properties.
Global gas producer BG Group plc said net profits for the second quarter were hobbled by a $1.3 billion post-tax charge against its shale assets in the United States and that it would reduce drilling activity there in response to continuing low natural gas prices.