Newly formed Sabinal Energy LLC has received a $300 million equity commitment from Kayne Private Energy Income Fund LP to prowl for oil and natural gas properties primarily in the Rockies, Midcontinent and Texas.
Articles from Technical
May natural gas is set to open a penny higher Wednesday morning at $1.99 as overnight trading pushed toward a technical breakout and forecasters called for cooling, albeit moderate, next week. Overnight oil markets improved.
January natural gas is set to open 8 cents lower Tuesday morning at $3.93 as traders see weather and technical factors working to suppress any meaningful market upside. Overnight oil markets fell.
Mexico state-owned oil monopoly Petroleos Mexicanos (Pemex) has signed a five-year agreement with ExxonMobil Corp. to share technical and scientific information. The agreement renews a previous collaboration agreement between the two companies, said officials. Mexico President Enrique Pena Nieto, who took office in December, recently told reporters that Pemex wouldn’t be sold or privatized, but it would be modernized. Pemex, Mexico’s largest company, provides nearly all of its profits to the federal government. Natural gas production in Mexico has risen slightly from a year ago, but it has fallen over the past four years, according to Pemex. In February, gas output was 6.475 Bcf/d, compared with 6.430 Bcf/d a year ago. However, 2012 gas output averaged an estimated 6.385 Bcf/d, versus 6.594 Bcf/d in 2011 and 7.020 Bcf/d in 2010. Mexico also is a net crude oil exporter, but production fell to less than 3 million bbl in 2011 from almost 4 million bbl in 2003-2004.
ExxonMobil Corp. and Russia’s state-owned OAO Rosneft last week agreed to expand a 2011 strategic cooperation agreement for exploration and development, and Rosneft was offered an option to a big stake in the Point Thomson, AK, natural gas and condensate project.
Natural gas supplies from Nova Scotia are dwindling, but the province of New Brunswick could join the shale gas renaissance sweeping much of North America, provided its shales can be exploited without harming the environment, New Brunswick Energy and Mines Minister Craig Leonard said Wednesday.
The Pennsylvania Department of Environmental Protection (DEP) has finalized its technical guidance for single source air quality permitting for exploration, extraction and production activities from oil and natural gas operations.
The Pennsylvania Department of Environmental Protection (DEP) said Friday it has finalized its technical guidance for single source air quality permitting for exploration, extraction and production activities from oil and natural gas operations.
The Gas Technology Institute (GTI) said Tuesday it will work with University of Texas at Austin’s (UT) Center for Electromechanics to help remove technical barriers on commercially viable home fueling equipment for natural gas vehicles (NGVs).
A growing realization is dawning for European shale gas operators that “serious” man-made and technical obstacles may block attempts to replicate U.S. experiences with shale gas, according to London-based analyst Chatham House.