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Briefs — Texas Lease Sale

The next Texas General Land Office (GLO) Winter Oil & Gas Lease Sale is Jan. 17. Participants bid for the right to explore for oil and natural gas on Permanent School Fund (PSF) property owned by the state. The company offering the highest up-front payment (commonly called a bonus) is awarded the lease. Tract information is now available on the EnergyNet website. The sale will be the fourth GLO lease sale to be held online. The third online lease sale, held last July, earned more than $98 million. In the first online lease sale in August 2015, PSF tracts of land brought in more than $20 million, which is about $1,500 per acre more than the previous traditional lease sale. The online lease sale in January 2016 brought in nearly $11 million for 4,393 acres, which is just under $2,500 per acre. Sales are held semiannually and available tracts may be nominated by contacting the GLO.

January 10, 2017

Briefs — JERA Co. Inc.

JERA Co. Inc. said its first liquefied natural gas (LNG) cargo produced in the contiguous United States arrived at the Joetsu LNG Terminal of Chubu Electric Power Co. last Friday. It is the first Lower 48 U.S. LNG cargo to be delivered to Japan, the company said. JERA and Cheniere Marketing International LLP had entered into a sale and purchase agreement for the cargo, which was loaded onto the LNG vessel Oak Spiritat Cheniere Energy Partners LP’s Sabine Pass LNG Terminal in Louisiana on Dec. 7. The voyage to Japan via the Panama Canal took about one month. JERA said it believes the purchase of US LNG will contribute to a stable energy supply in Japan through the diversification of procurement regions and LNG price indices. JERA said it will establish an “LNG procurement portfolio that can flexibly respond to changes in the business environment by increasing its procurement ratio of LNG which is free from destination restrictions, through projects such as the Freeport LNG Project in [the United States].”

January 6, 2017

BOEM Set to Auction 48 Million Acres in GOM Central Planning Area

More than 48 million acres offshore Alabama, Louisiana and Mississippi will be offered for oil and natural gas exploration and development in the next federal lease sale scheduled for March, the Bureau of Ocean Energy Management said Thursday.

December 22, 2016

Eclipse Sells Noncore Assets to Boost Liquidity

Eclipse Resources Corp. has completed the sale of 9,900 net acres in Southeast Ohio for $63.8 million to an undisclosed buyer in a deal that the company said could help fund a second operated rig next year.

December 20, 2016
Alaska North Slope Foothills Lease Sale Draws $17.8M

Alaska North Slope Foothills Lease Sale Draws $17.8M

The Alaska Department of Natural Resources Division of Oil and Gas received 410 bids in its just-held North Slope Foothills areawide oil and natural gas lease sale. Winning bids totaled nearly $17.8 million.

December 15, 2016

BLM Adds Online Land Nominations to Oil/NatGas Leasing Process

The Interior Department’s Bureau of Land Management (BLM) has automated the way members of the public and industry nominate lands for possible oil and natural gas development, the agency said Monday.

November 8, 2016
TransCanada Sells Northeast U.S. Power Business, Retains Mexico NatGas Assets

TransCanada Sells Northeast U.S. Power Business, Retains Mexico NatGas Assets

TransCanada Corp. has delivered on a plan to sell its U.S. merchant power assets in the Northeast, announcing that it would earn $3.7 billion for the business to help pay for its acquisition of Columbia Pipeline Group Inc. (CPG). In another move aimed at driving growth, the company said it would retain its interests in a growing portfolio of Mexican natural gas pipeline assets.

November 2, 2016

Brief — Colorado ‘Dashboard’

The Colorado Oil/Gas Conservation Commission (COGCC) has launched an online information source,Daily Activity Dashboard, that captures on a county-by-county basis oil and natural gas activity statewide. COGCC said the tool can locate information on pending permits, well status, production, well inspection data, violation notices, operator notifications and spills. It is being provided as a supplement to COGCC’s existing and extensive web-based data search tools, a spokesperson said.

October 26, 2016

SEC Files Insider Trading Charges Against Hedge Fund Regarding Atlas Pipeline

The U.S. Securities and Exchange Commission (SEC) charged billionaire Leon Cooperman and his hedge fund, Omega Advisors Inc., with insider trading on Wednesday, alleging that they illegally profited from the sale of a natural gas processing facility in Oklahoma in 2010 and then tried to cover it up.

September 22, 2016

Chevron Selling NatGas-Rich Leaseholds in Wyoming, Colorado

Chevron Corp. is selling nearly 100,000 net acres in a natural gas-rich area of Wyoming and Colorado as it trims its U.S. onshore inventory.

September 20, 2016
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