President Obama on Friday requested that the Environmental Protection Agency (EPA) withdraw its controversial draft Ozone National Ambient Air Quality Standards, saying he did not support asking state and local governments to begin implementing a new standard that is due to be reconsidered again in less than two years.
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ExxonMobil’s U.S. Unconventional Reserves Now Stand at 76 Tcfe
ExxonMobil’s U.S. unconventional natural gas-weighted portfolio, substantially built with the buyout of XTO Energy Inc. last year, now totals 76 Tcfe, which is almost 70% more than the companies recognized at the time of the merger, the investor relations chief said Thursday.
PacifiCorp to Add Gas-Fired Generation
A PacifiCorp plan to retain a fleet of coal-fired generation plants during the next decade while increasing substantially both its natural gas-fired and renewable energy-based power generation is stirring controversy.
North American E&Ps Readjust Spending Plans Higher
Spending by North American exploration and production (E&P) companies is expected to jump substantially this year and is much higher than forecasted just six months ago, according to the latest worldwide spending survey by Dahlman Rose & Co.
North American E&Ps Raise Spending Predictions
North American exploration and production (E&P) spending in North America is expected to jump substantially in 2011 and is much higher than forecasted six months ago, according to the latest worldwide spending survey by Dahlman Rose & Co.
Cove Point Says Shale Siphoning Away Interest in LNG
Due to “significant decline in usage” at its facility on the Maryland shore as a resulting of expanding shale gas supplies, Dominion Cove Point LNG LP (DCP) Friday called on FERC to clarify that under its tariff it has the authority to require shippers to deliver liquefied natural gas (LNG) by tanker to its import terminal to keep the cryogenic portions of the terminal cooled or face penalties.
Horn River to Support ‘High Drilling Levels’ for Years
The Horn River Basin of British Columbia (BC) holds an “ultimate potential” of marketable unconventional natural gas shale of 78 Tcf, which “ranks among the most prospective shale gas basins in North America,” according to a new government energy market assessment.
W&T Makes Permian Onshore Play
W&T Offshore Inc. has made a “transformative acquisition” to grow reserves and production by agreeing to acquire about 21,900 gross leasehold acres (21,500 net acres) for $366 million in the West Texas Permian Basin in Gaines, Dawson, Andrews and Martin counties, the company said last week.
CFTC Approves Swaps Definitions, Capital Requirements
In voting out four major proposed rules last Wednesday, the Commodity Futures Trading Commission (CFTC) “substantially completed the proposal phase” of the regulatory reforms called for under the sweeping Dodd-Frank Wall Street Reform Act. The Commission and the Securities and Exchange Commission (SEC) have scheduled a roundtable on Monday and Tuesday to discuss the schedule for implementing the final rules for swaps and security-based swaps under Dodd-Frank. And the CFTC has reopened the comment period on all of its proposals.
Carrizo Sells Barnett Assets to KKR Affiliate
Carrizo Oil & Gas Inc. agreed to sell substantially all of its Barnett Shale Tier 1 properties to KKR Natural Resources (KNR), a partnership of an affiliate of Kohlberg Kravis Roberts & Co. LP (KKR) and Premier Natural Resources, for $104 million, the companies said Wednesday.