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Murphy Oil to Keep ‘Very’ Focused on Eagle Ford

Murphy Oil Corp.’s plans to spin off its downstream operations will allow it to focus more time and money on exploration and production (E&P) opportunities, including a big leasehold in the Eagle Ford Shale, executives said Tuesday.

October 17, 2012

Industry Briefs

The ConocoPhillips board of directors has given final approval to spin off the downstream businesses as Phillips 66 at close of business on April 30, which would result in ConocoPhillips becoming the largest pure-play, upstream independent in North America (see NGI, July 18, 2011). The companies would be headquartered in Houston. Chairman and CEO Ryan Lance would lead ConocoPhillips. Phillips 66, to be traded on the New York Stock Exchange as “PSX,” would be led by Chairman and CEO Greg Garland and would comprise the refining and marketing; midstream and chemicals businesses.

April 9, 2012

Industry Brief

The ConocoPhillips board of directors has given final approval to spin off the downstream businesses as Phillips 66 at close of business on April 30, which would result in ConocoPhillips becoming the largest pure-play, upstream independent in North America (see Daily GPI, July 15, 2011). The companies would be headquartered in Houston. Chairman and CEO Ryan Lance would lead ConocoPhillips. Phillips 66, to be traded on the New York Stock Exchange as “PSX,” would be led by Chairman and CEO Greg Garland and would comprise the refining and marketing; midstream and chemicals businesses.

April 5, 2012

QEP Resources Targeting Crude Oil, NGLs in 2012

QEP Resources Inc. said Thursday it would devote most of its capital expenditures (capex) for the 2012 fiscal year to crude oil and liquids-rich natural gas plays, and would look to boost annual production.

February 27, 2012

Marathon Looks to Add Eagle Ford Acreage By Year’s End

Marathon Oil Corp. CEO Clarence Cazalot said the company’s purchase of 141,000 net acres in the Eagle Ford Shale from Hilcorp Resources Holdings LP for $3.5 billion was exceeding expectations, with production totaling nearly 1,000 boe/d on Tuesday, Marathon’s first official day as operator (see Shale Daily, June 2).

November 4, 2011

ConocoPhillips to File for Spinoff in November

ConocoPhillips last week said it intends to file required paperwork in early November to spin off its downstream unit from its exploration and production (E&P) business, which when completed would create the biggest pure-play independent in North America.

October 31, 2011

ConocoPhillips to File Paperwork for Spinoff in November

ConocoPhillips on Wednesday said it intended to file required paperwork in early November to spin off its downstream unit from its exploration and production (E&P) business, which when completed would create the biggest pure-play independent in North America.

October 27, 2011

Inergy to Create Midstream Partnership

Inergy LP said Tuesday it plans to spin off a minority interest in a new master limited partnership (MLP) as Inergy Midstream LP, which initially would own and operate the northeastern midstream natural gas storage and transportation business.

August 11, 2011

El Paso to Spin Off E&P Business

El Paso Corp. was one of the leading gainers on the New York Stock Exchange Tuesday after announcing it would spin off its exploration and production (E&P) business as a publicly traded company by the end of the year.

May 25, 2011

Williams E&P Spinoff Broadens Opportunities, Says CEO

A decision to spin off its exploration and production (E&P) unit as a pure-play producer will give Williams shareholders more opportunities to target their investments, CEO Alan Armstrong said last week.

May 23, 2011
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