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Rosetta Resources Entering Permian With $768M Deal

Rosetta Resources Inc. has agreed to pay Comstock Resources Inc. $768 million for a package of Permian Basin oil and liquids-rich assets, giving it entry into the West Texas basin.

March 18, 2013

Midstream Issues Cramp Gastar’s Style in the Marcellus

Gastar Exploration Ltd. plans to suspend its Marcellus Shale capital program “for a short period” during the second half of the year while it monitors production results and allows time for constraints in midstream services to be worked out, CEO Russ Porter said Tuesday.

March 14, 2013

IPAA: White House More Coordinated on Energy, Climate Issues

While it remains to be seen whether the Obama White House will be more friendly towards oil and natural gas in its second term, it appears to have become more coordinated on oil and gas issues, said a spokesman for the Independent Petroleum Association of America (IPAA).

March 12, 2013
Canadian Natural Looking to Sell, JV Montney Acreage

Canadian Natural Looking to Sell, JV Montney Acreage

Canadian Natural Resources — Canada’s second-largest independent natural gas producer and its largest producer of heavy oils — is considering the sale of about 250,000 net acres of its Montney land base, about one-quarter of its total Montney acreage, President Steve Laut said Thursday during an earnings conference call.

March 11, 2013

IEA: Asia Gas Market Needs A Hub

The world’s fastest-growing natural gas market, Asia, is expected to be its second-largest two years from now; however, for the benefits of gas to be realized and for the market to develop fully, Western-style regulatory and trading practices will have to come into play, according to a new report from the International Energy Agency (IEA).

March 4, 2013

Industry Brief

A round of public forums on California’s discussion draft regulations on hydraulic fracturing have begun in Los Angeles and will continue with a second workshop scheduled to be held March 13 in Bakersfield, CA, by the Division of Oil, Gas and Geothermal Resources. Jason Marshall, chief deputy director of the state’s Department of Conservation, said “interesting and helpful comments” were obtained at the Los Angeles session Feb. 19. Marshall said the goal is have new regulations in place in the next 12-18 months. In the upcoming workshop, the discussion draft rules will be broken into seven parts, with four parts discussed in morning sessions and three in the afternoon. The final session will allow for public comments and questions. A third workshop will be held in Sacramento later this year.

March 1, 2013

IEA: Asia Gas Market Needs A Hub and Price Signals

The world’s fastest-growing natural gas market, Asia, is expected to be its second-largest two years from now; however, for the benefits of gas to be realized and for the market to develop fully, Western-style regulatory and trading practices will have to come into play, according to a new report from the International Energy Agency (IEA).

February 27, 2013

EPA: Oil, Natural Gas GHG Emissions Trail Power Plants

In its second annual update on greenhouse gas (GHG) emissions from stationary sources, the Environmental Protection Agency (EPA) Tuesday said petroleum and natural gas systems produced about 6.8% of stationary source emissions, far less than the 67% contributed by power plants.

February 7, 2013

Chu Leaving DOE to Return to Academic Life

Confirming rumors that have been circulating for months, Energy Secretary Steven Chu Friday said he will not serve a second term in the Obama administration.

February 4, 2013

NGLs Still ‘Too Much of a Good Thing’

Composite natural gas liquids (NGL) prices will remain weak through this year, averaging 74 cents/gallon and bottoming during the second quarter at an average of 68 cents/gallon, Raymond James & Associates Inc. said Monday.

January 29, 2013