Stewart

A former gold and silver boomtown on the northern Pacific Coast of British Columbia regained hope of revival Monday when a homegrown firm obtained a liquefied natural gas (LNG) export license. The project joins two others that have recently been licensed by Canada’s National Energy Board (NEB).

Houston-based Sheridan Production Partners has raised $1.5 billion in equity commitments to acquire more onshore producing properties in the United States, the privately held producer said Wednesday.

Republicans in the Ohio House of Representatives have revised an oil and natural gas severance tax proposal and are calling for a slightly higher rate, which many believe may have a better chance of passing the Democratic-controlled state senate.

Management of Australia’s Eureka Energy Ltd., which has acreage in the Eagle Ford Shale of South Texas, told shareholders they should reject an unsolicited offer from Aurora Oil and Gas Ltd., also of Australia and an Eagle Ford player. “The board considers the offer to be opportunistic and designed to solicit shareholders to sell their shares at a time when the company’s strategic direction and underlying potential is still emerging,” said Eureka Acting Managing Director Bill Bloking. Aurora has made an A$107 (US$111.7 million) unsolicited offer for Eureka. Aurora said the unconditional, all-cash offer represents “an attractive premium” (36.4% to Eureka’s previous closing price) and gives Eureka shareholders the opportunity to “crystallize immediate and certain value for their shares.” The acquisition would build Aurora’s “already strong presence in the Sugarkane Field, growing its portfolio of Eagle Ford interests” in line with its strategy, said Aurora CEO Jon Stewart (see Shale Daily, May 1).

Brent J. Smolik, currently president of ConocoPhillips Canada, will take over as president of El Paso Exploration & Production Co. on Nov. 1, replacing Lisa Stewart, who resigned in August. Smolik earned a bachelor’s degree in petroleum engineering from Texas A&M University in 1983 and worked for ARCO as a drilling and reservoir engineer. In 1990, he joined Burlington Resources as a reservoir engineer and acquisition coordinator. He went on to hold engineering supervisory and management positions in the Denver, Offshore, San Juan and Gulf Coast Divisions. He then served as vice president, chief engineer in Houston until relocating to Calgary in 2004, where he became president of Burlington Resources Canada. Following the merger in March, he remained in Calgary and became president of ConocoPhillips Canada.

Brent J. Smolik, currently president of ConocoPhillips Canada, will take over as president of El Paso Exploration & Production Co. on Nov. 1, replacing Lisa Stewart, who resigned in August (see Daily GPI, Aug. 4). Smolik earned a bachelor’s degree in petroleum engineering from Texas A&M University in 1983 and worked for ARCO as a drilling and reservoir engineer. In 1990, he joined Burlington Resources as a reservoir engineer and acquisition coordinator. He went on to hold engineering supervisory and management positions in the Denver, Offshore, San Juan and Gulf Coast Divisions. He then served as vice president, chief engineer in Houston until relocating to Calgary in 2004, where he became president of Burlington Resources Canada. Following the merger in March, he remained in Calgary and became president of ConocoPhillips Canada.