Spend

Questar Exploration and Production (E&P) plans to spend more than $1 billion to limit the impact of its operations in the Wyoming Pinedale Anticline area on habitat and wildlife, a company official told the House Natural Resources Committee last Tuesday.

The natural gas industry needs to spend more time targeting members of Congress who aren’t traditionally viewed as energy-friendly, said a top staff member for Oklahoma Democrat Rep. Dan. Boren Thursday.

Questar Exploration and Production (E&P) plans to spend more than $1 billion to limit the impact of its operations in the Wyoming Pinedale Anticline area on habitat and wildlife, a company official told the House Natural Resources Committee Tuesday.

Calgary-based Rider Resources Ltd. said Tuesday it will spend C$208 million (US$179.7 million) to acquire some natural gas assets in west-central Alberta, where it concentrates its exploration efforts. Two gas processing facilities in Wapiti South are included in the purchase agreement, which was completed with an undisclosed seller.

Even with the “unlimited” money available to spend by oil and natural gas producers in the last five years, only gas has gained volume-wise on a global basis, which indicates gas, mostly in the form of liquefied natural gas (LNG) and gas-to-liquids products, will continue to take a bigger share of the market, a John S. Herold energy researcher said Friday.

Even with the “unlimited” money available to spend by oil and natural gas producers in the last five years, only gas has gained volume-wise on a global basis, which indicates gas, mostly in the form of liquefied natural gas (LNG) and gas-to-liquids products, will continue to take a bigger share of the market, a John S. Herold energy researcher said Friday.

Apache Corp., which has been pretty quiet over the last year, on Thursday stepped into the spotlight, announcing it will spend $1 billion to acquire controlling interests in 28 oil and natural gas fields in the Permian Basin. The assets, purchased as part of a joint venture agreement with Anadarko Petroleum Corp., are expected to produce 9,000 b/d of oil and 18 MMcf/d of natural gas net to Apache this year.

With prospects rapidly improving to produce and transport oil and natural gas from the deepwater, energy companies are expected to spend between $3.4-5 billion on subsea processing systems worldwide between now and 2015, according to a joint study conducted by energy analysts Douglas-Westwood Ltd. and technology specialists OTM Consulting.

Junior exploration and production company Dune Energy Inc. said Friday it will spend $32.8 million to acquire 2,457 gross acres on the Barnett Shale fairway in Denton County, TX from Voyager Partners Ltd. Dune had earlier purchased $31.8 million of Voyager’s Barnett properties. The two-part agreement will add 2,457 more gross acres to Dune’s portfolio. The assets are estimated to contain proved reserves totaling 29.9 Bcfe plus probable reserves totaling 16.1 Bcfe. The acquisition cost is about $109/Mcfe for the proved reserves, and 71 cents/Mcfe for the proved plus probable reserves. Dune purchased $7 million of Voyager’s remaining properties last Tuesday. The agreement Friday provides that the balance of Voyager’s assets, totaling $25.8 million, be acquired by Dune on or before Jan.19. Dune said its obligation to purchase the remaining assets is subject to financing.