Calgary-based operators Precision Drilling Corp. and Essential Energy Services Ltd. have agreed to swap some oilfield service assets, which would expand Precision’s rig operations and workforce in Canada while Essential would add coil tubing and pumping services.
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CFTC Moves to Protect Energy End-Users From ‘Unintended Consequences’ of Dodd-Frank
The Commodity Futures Trading Commission (CFTC) has taken action on three issues that Chairman Mark Wetjen said will have a lasting impact on energy-end users that may have fallen victim to “negative, unintended consequences” of the Dodd Frank Financial Reform Act.
CFTC Offers No-Action Relief on ‘Swap Dealer’ Definition Exceptions
The Commodity Futures Trading Commission's (CFTC) Division of Swap Dealer and Intermediary Oversight in a letter released Friday said it would provide no-action relief from certain requirements in the exception from the definition of the term "swap dealer," a decision that excludes utility operations-related swaps from the calculation of the de minimis threshold.
Gastar Sharpens Hunton Limestone Focus with Sale
Gastar Exploration Ltd. is selling about 76,000 net acres in Kingfisher and Canadian counties in Oklahoma for $62 million and also agreed to swap acreage with the undisclosed buyer so that both might concentrate their positions, the company said Tuesday.
Statoil, ConocoPhillips Swap Stakes in Alaska, Deepwater GOM
In a swap of sorts, Norway’s Statoil ASA is buying a quarter interest in 50 of ConocoPhillips’ leases in the Chukchi Sea offshore Alaska. In turn, the Houston-based producer would take a stake in some of Statoil’s leases in the Lower Tertiary Trend of the Gulf of Mexico (GOM). No financial details were disclosed.
Statoil, ConocoPhillips Swap Stakes in Alaska, Deepwater GOM
In a swap of sorts, Norway’s Statoil ASA is buying a quarter interest in 50 of ConocoPhillips’ leases in the Chukchi Sea offshore Alaska. In turn, the Houston-based producer would take a stake in some of Statoil’s leases in the Lower Tertiary Trend of the Gulf of Mexico (GOM). No financial details were disclosed.
FERC Warns CFTC: Don’t Tread on RTOs, ISOs
FERC has warned the Commodity Futures Trading Commission (CFTC) against trying to extend its jurisdiction to include trading of derivative transactions within regional transmission organizations (RTO) and independent system operators (ISO).
CME-Citadel JV Nears Clearing of Credit Default Swaps
Global futures exchange CME Group has gotten the green light from two regulators to begin clearing over-the-counter (OTC) credit default swap (CDS) transactions through CMDX, a joint venture company with Chicago-based Citadel Investment Group. Regulatory reviews by the Federal Reserve Bank of New York and the Commodity Futures Trading Commission (CFTC) are complete, and the last hurdle — approval by by the Securities and Exchange Commission (SEC) — is expected soon.
Continental Adds New Mexico Gas Customers in $620M PNM Deal
PNM Resources and a subsidiary of Continental Energy Systems last week announced a swap that would dramatically build Continental’s natural gas operations and allow PNM to give full attention to its electric utilities in New Mexico and Texas.
Continental Adds New Mexico Gas Customers in $620M PNM Deal
PNM Resources and a subsidiary of Continental Energy Systems announced a swap Tuesday that would dramatically build Continental’s natural gas operations and allow PNM to give full attention to its electric utilities in New Mexico and Texas.