Devon Energy Corp. is selling its assets in the Utica Shale in eastern Ohio, part of a strategy to raise new venture capital so it can focus on opportunities in the Permian Basin, Mississippian Lime and the Niobrara formation.
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Articles from Retained
No Surprises in Texas RRC Election Results
In Tuesday’s election, Railroad Commission of Texas (RRC) Chairman Barry Smitherman, a Republican, retained his seat, and Republican Christi Craddick was picked by voters over Democratic challenger Dale Henry.
Production Booming, Profits Slipping, Range Eyes Wetter Marcellus
Range Resources Inc., which two years ago turned away from the Barnett Shale and toward the Marcellus Shale, saw its overall production boom in 3Q2012, based in large part on a surge of Marcellus gas, according to CEO Jeff Ventura.
Boardwalk Building Out in Eagle Ford
As it goes with producers, so it goes with the midstream: liquids-rich gas is the most desirable to have and to handle, and Boardwalk Pipeline Partners LP’s Boardwalk Field Services LLC is expanding its systems accordingly.
Industry Briefs
Apache Corp. has retained Scotia Waterous (USA) Inc. to sell about 49,500 net acres (80,000 gross) in East Texas, which at the end of 1Q2011 were producing a total of 41 MMcfe/d net. The acreage to be sold includes 490 proved developed producing wells, which are 80% operated. Proved reserves are estimated at 233 Bcfe, with proved and probable reserves of 338 Bcfe. Most of the total proved and probable reserves are in Freestone, Nacogdoches and Upshur counties; additional acreage to be sold is in Camp, Rust, Angelina, Gregg, Panola, Marion, Harrison, Leon and Limestone counties. Production comes from several producing intervals that include the Bossier, Cotton Valley lime, Travis Peak and Rodessa formations. The bid due date is Aug. 4; the effective date is Sept. 1. For information contact Edward Katterhagen at (713) 437-5064.
Cameron LNG Asks for Reexport Rights
Sempra Energy has asked federal regulators for permission to reexport liquefied natural gas (LNG) from its Cameron LNG import terminal in Louisiana. If approved by FERC, the terminal would join Freeport, TX, and Sabine Pass, LA, terminals in its ability to reexport LNG shipments.
Industry Brief
Denver-based Delta Petroleum Corp. has retained Morgan Stanley and Evercore Partners to evaluate and advise the board of directors on “strategic alternatives” that may include selling “some or all” of the company’s assets, entering into partnerships or joint venture opportunities, or selling the entire company. Delta said it would not comment until the board has approved a specific transaction or when there are “significant developments.” Delta’s core areas of operations are the Gulf Coast and Rocky Mountain regions, which comprise the majority of its proved reserves, production and long-term growth prospects (see Daily GPI, April 8; Dec. 24, 2008; Aug. 28, 2008).
SourceGas Affiliates, Kinder Morgan Resolve PPA Dispute
Affiliates of Colorado-based SourceGas LLC have resolved claims that Kinder Morgan Interstate Gas Transmission (KMIGT) improperly retained nearly $1 million in natural gas that they said belonged to retail choice customers in Nebraska and Wyoming.
Greater Grand Buttes, Powder River Lift Anadarko’s Quarterly Output
Anadarko Petroleum Corp.’s retained properties lifted oil and natural gas production by 8% in the first three months of 2008 from a year ago, boosted by record gas output from the Greater Grand Buttes and the Powder River Basin.
Greater Grand Buttes, Powder River Lift Anadarko’s Quarterly Output
Anadarko Petroleum Corp.’s retained properties lifted oil and natural gas production by 8% in the first three months of 2008 from a year ago, boosted by record gas output from the Greater Grand Buttes and the Powder River Basin.