The New Mexico State Land Office pulled in $2.39 million in proceeds Tuesday from its January oil and natural gas lease sale, which covered slightly more than 7,200 acres. Those numbers vary with the state’s December and November proceeds last year, which were $5.8 million and $3.85 million, respectively, for about 10,000 acres in each case (see Daily GPI, Nov. 28, 2012).
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Pro-Fracking Paper Nixed for Conflict
The University of Texas at Austin (UT) has pulled a 2012 report that was supportive of hydraulic fracturing (fracking) and shale gas development following a review of the study by an independent panel that found researchers failed to disclose a conflict of interest.
University Pro-Fracking Paper Nixed on Conflict of Interest
The University of Texas at Austin has pulled a 2012 UT Energy Institute report that was supportive of hydraulic fracturing and shale gas development following a review of the study by an independent panel that found researchers failed to disclose a conflict of interest.
Northwest Still Needs New Pipeline, NW Natural CEO Says
A revised version of the proposed Palomar Pipeline, whose FERC application was pulled back last year, is still needed and should be revived at the federal regulatory agency by mid-2013, NW Natural CEO Gregg Kantor told analysts during a recent 3Q2012 earnings conference.
Nova Bows to Alliance for Liquids-Rich Traffic
TransCanada Corp. has pulled back from opening a new front in regulatory duels with customers of its international family of pipelines. Nova Gas Transmission, the empire’s Alberta arm, has withdrawn an application to the National Energy Board (NEB) for approval of a contested scheme called NEXT, short for natural gas liquids (NGL) extraction (see NGI, March 26).
Nova Bows to Alliance in Battle for Liquids-Rich Traffic
TransCanada Corp. has pulled back from opening a new front in regulatory duels with customers of its international family of pipelines. Nova Gas Transmission, the empire’s Alberta arm, has withdrawn an application to the National Energy Board (NEB) for approval of a contested scheme called NEXT, short for natural gas liquids (NGL) extraction (see Daily GPI, March 19).
Chesapeake Jettisons Permian, Midstream for $6.9B Pay Day
Chesapeake Energy Corp. last week pulled the trigger on multiple agreements to sell most of its Permian Basin properties to Royal Dutch Shell plc and Chevron Corp., clinched transactions with Global Infrastructure Partners (GIP) for the rest of its midstream assets and unloaded other properties that together give the cash-strapped producer total net proceeds of $6.9 billion.
Chesapeake Raises $6.9B in Permian, Midstream Sale
Chesapeake Energy Corp. on Wednesday pulled the trigger on multiple agreements to sell most of its Permian Basin properties to Royal Dutch Shell plc and Chevron Corp., and it clinched transactions with Global Infrastructure Partners (GIP) for the rest of its midstream assets, which together would give the cash-strapped producer total net proceeds of $6.9 billion.
Louisiana: Drillers Going Where the Taxes Aren’t
Producers active in Louisiana — where they enjoy an exemption from state severance taxes on production from horizontal wells — are increasingly eschewing conventional drilling to take advantage of the tax break, and that’s showing up in state revenue figures, according to a recent forecast from the state’s Legislative Fiscal Office. However, industry advocates advise: look at all the other taxes producers are paying.
West Virginia DEP Seeks to Cut Deficit Through $10,000 Permit Fee
Increased drilling activity in West Virginia’s Marcellus Shale area and a dramatic decline in revenues from natural gas drilling permits have prompted the Department of Environmental Protection (DEP) to seek a larger piece of the state’s budget pie, a larger staff to handle about 750 active wells and a dramatic increase of horizontal permitting fees.