Sales

EOG Resources Inc. has struck a joint exploration and development agreement with Eaglebine formation partners ZaZa Energy Corp. and Range Resources Corp. in Walker, Grimes, Madison, Trinity and Montgomery counties, TX.

The Alaska Department of Natural Resources (DNR) will hold its annual Cook Inlet and Alaska Peninsula area-wide oil and gas lease sales, as well as a lease sale for geothermal resources on Augustine Island, on Wednesday, May 8. Terms can be obtained in the “Headlines” section of the DNR website. The Augustine Island lease sale is the fourth geothermal lease sale in state history. The last lease sale of this kind was held in 2008 for acreage on Mount Spurr. The Cook Inlet sale includes 815 tracts encompassing 4 million acres. The Alaska Peninsula lease sale includes 1,047 tracts covering 5.8 million acres. The Augustine Island geothermal sale includes 26 tracts on nearly 66,000 acres. In the past two years, the Cook Inlet hydrocarbon basin has seen a resurgence in investment by small, medium and large energy companies, DNR said. Bidders must be qualified by 4 p.m. May 3, and bids must be received no later than 4 p.m. May 6.

For the third time in less than three months, Gulfport Energy Corp. and Windsor Ohio LLC, an affiliate of Wexford Capital LP, have agreed to make a transaction in the Utica Shale, this time for net acreage and a higher working interest (WI).

Internal test results, couple with those of other local operators, have bolstered Mancos Shale natural gas prospects for Rapid City, SD-based Black Hills Corp., according to CEO David Emery, who offered an optimistic outlook in reporting increased profits for 4Q2012 and all of last year for the diversified utility and exploration and production (E&P) company.

Natural gas groups Wednesday said they were hopeful the Obama administration will provide a more cohesive energy policy during the president’s second term, at the same time urging various industry segments to speak to lawmakers and the public with one voice on hydraulic fracturing (fracking).

ConocoPhillips is selling a package of properties in the Cedar Creek Anticline (CCA) of North Dakota and Montana to Denbury Resources Inc. for $1.05 billion cash.

Randy Eresman, who has led Encana Corp. since 2006, suddenly resigned on Friday, fueling speculation about whether he jumped or was pushed out of the boardroom.

Crosstex Energy LP is proceeding with Phase II of its Cajun-Sibon natural gas liquids (NGL) pipeline extension and fractionator expansion in Louisiana.

Increased sales by BP plc and ConocoPhillips, along with a surge by J. Aron & Co., weren’t enough to overcome third quarter doldrums among companies selling natural gas, according to NGI’s 3Q2012 Top North American Gas Marketers Ranking. read more