Three

During oral arguments last Thursday, two out of three appellate court judges appeared to challenge FERC’s claim of authority to prosecute alleged manipulation in the natural gas futures market.

Marathon Oil Corp. production targets are being raised sharply for its growing plays in the Eagle Ford and Bakken Shales, while the targeted sale of assets continues, as evidenced by a $170 million sale of a gas processing interest in Louisiana, CEO Clarence Cazalot said during a 4Q2012 conference call with financial analysts.

During oral arguments Thursday, two out of three appellate court judges appeared to challenge FERC’s claim of authority to prosecute alleged manipulation in the natural gas futures market.

Marathon Oil Corp. CEO Charles Cazalot will be required to step down in three years when he turns age 65, but the company has a succession planning process in place, Cazalot said during an earnings conference call. Last December COO David Roberts left the company with less than a week’s notice “to pursue other interests.” Cazalot said Marathon has a “very strong team and the company is in very good hands, and succession planning for the leadership team is a critical priority.” Roberts had been viewed by some as a successor to Cazalot.

Howard Midstream Energy Partners LLC (HEP) will construct a cryogenic natural gas plant capable of processing 200 MMcf/d in the heart of the Eagle Ford Shale in Webb County, TX, the San Antonio, TX-based company said Wednesday.

The city of Dallas Plan Commission on Thursday voted to reconsider the application by Trinity East Energy LLC for three zoning permits that would allow it to drill within the city limits. The commission previously voted against granting the permits (see Shale Daily, Jan. 8). The commission now is expected to hold a hearing on the permits Feb. 17. If the specific use permits ultimately receive the commission’s blessing, Trinity East will have an easier time gaining the ultimate approval it needs to drill from Dallas City Council. Some drilling opponents in attendance at the commission meeting chanted “shame” following the vote to reconsider; some wept, and one activist was led from the chamber, according to an online report by TheDallas Morning News.

After serving 11 years as one of three regulators on the Washington Utilities and Transportation Commission (UTC), Patrick Oshie stepped down last Friday. A successor will be appointed by Washington’s Gov.-elect, Jay Inslee. Oshie was a partner in a Yakima, WA law firm when then-Gov. Gary Locke appointed him to the UTC in 2001; he was subsequently appointed to a second six-year term by Gov. Chris Gregoire in 2006. Oshie previously had served as an assistant city attorney in Seattle and an assistant attorney general in Utah, where he also was a law professor.

The next three months will average colder than normal across much of the northern United States, with arctic air expected to be a “frequent guest in [the] largest gas-demand population centers,” said forecasters at Andover, MA-based Weather Services International (WSI).

Magnum Hunter Resources Corp. brought online two new company-operated Eagle Ford Shale wells three days before Christmas. The wells’ best-ever results for the company in the Eagle Ford could have Magnum Hunter rethinking its idea of divesting the South Texas properties, said CEO Gary C. Evans.