ExxonMobil Corp.’s first post-moratorium deepwater exploration well in the Gulf of Mexico (GOM) is proving to be a keeper, with two “major” oil discoveries, as well as a natural gas find, the supermajor said last week.
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Although subject to working through some still sticky post-earthquake parts distribution challenges, American Honda Motor Co. on Monday indicated that it still plans a nationwide sales push in the United States late this year for the latest version of its compressed natural gas (CNG)-powered Civic GX model.
A rise in shale gas supplies and implications from last fall’s San Bruno, CA, pipeline rupture and explosion have caused California Energy Commission (CEC) planners to rethink their update of the state’s 2011 Integrated Energy Policy Report.
The Marcellus Shale Advisory Commission, which was formed earlier this month by Pennsylvania Gov. Tom Corbett and tasked with reporting back to the governor by July, held its first meeting in Harrisburg Friday.
The post-Japan earthquake/tsunami political aftershocks continue in California with the state’s two major coastal nuclear generating plants receiving increased scrutiny from elected and regulatory officials even as utility operators and the Nuclear Regulatory Commission (NRC) assure the public that the plants are safe.
JayHawk Energy Inc. has begun evaluating for drilling its recently acquired acreage in the Bakken Shale. The Post Falls, ID-based company also said it was looking to add more acreage to its Bakken holdings and plans to accelerate its efforts through purchases and joint ventures through 2011. JayHawk has procured more than 1,066 gross acres — about 135 net acres — in Divide County, ND. Spacing of wells is currently 1,280 acres, so JayHawk said it will pool its acreage with other interest holders in order to drill a well, possibly by 4Q2011.
Mainland Resources Inc. reported positive results from its Burkley Phillips No. 1 Well in Jefferson County, MS, in the Buena Vista Haynesville Shale that suggest there is more adsorbed and free gas in place in the reservoir than previously thought.
April natural gas futures backed off earlier highs but still managed to post gains in Monday’s trading. Short-term traders and those with a longer perspective are divided on the market’s next move with short-term traders favoring a continued decline largely on a fundamental picture that hasn’t changed and long-term technical analysts see the market finding a respite from an oversold condition.