Time

Colorado’s oil production last year passed the 40 million bbl mark for the first time in 50 years, while natural gas and coalbed methane (CBM) production were down in the face of stubbornly low prices, according to preliminary data from the Colorado Oil and Gas Conservation Commission (COGCC).

Royal Dutch Shell plc has clinched a production sharing agreement in Ukraine to explore shale gas deposits in the Yuzivske gas field, which may evolve into the “largest investment in Ukrainian history,” according to the nation’s energy minister.

Wyoming Gov. Matt Mead spent little time discussing energy issues in his state-of-the-state speech Wednesday, but he did call out coal’s role in the resource-rich state, which has substantial natural gas and coal supplies.

Based on the most recent state data for this year, New Mexico is on track to bust the 80 million bbl oil production level for the first time since the late 1970s, and natural gas is expected to stay level at about 1.2 Tcf, according New Mexico Oil and Gas Association (NMOGA) officials.

Based on the most recent state data for this year, New Mexico is on track to bust the 80 million bbl oil production level for the first time since the late 1970s, and natural gas is expected to stay level at about 1.2 Tcf, according New Mexico Oil and Gas Association (NMOGA) officials.

Michael Peevey, long-time president of the California Public Utilities Commission (CPUC) is under fire from state utility consumer group The Utility Reform Network (TURN) for allegedly railroading through the commission a research project that could cost private sector energy customers up to another $150 million. TURN is urging state lawmakers to “rein in” Peevey for apparently pushing through CPUC an arrangement between Lawrence Livermore National Laboratory (LLNL) and the state’s major investor-owned utilities to create a cooperative research institute. CPUC plans on Thursday to consider authorizing the utilities to cover research project costs with LLNL of up to $152.19 million.

A subsea survey for the fourth time has confirmed the integrity of the Macondo well and the associated relief wells in the deepwater Gulf of Mexico, BP plc said. The visual inspection by BP and Transocean Ltd., which owned the Deepwater Horizon drilling rig, was to see if residual oil remained trapped under wreckage. The sheen is not recoverable and poses no risk to the shoreline, the U.S. Coast Guard said. No conclusive evidence of hydrocarbons leaking was observed from the surveyed area, but a “white, cloudy substance” appeared to emanate from several places on the overturned rig. Samples were collected, and BP plans to review the results with federal officials.

Targa Resources Partners LP said Thursday it will acquire all of Saddle Butte Pipeline LLC’s ownership of its Williston Basin crude oil pipeline and terminal system as well as its natural gas gathering and processing operations for $950 million in cash.

An official with the U.S. Environmental Protection Agency (EPA) said a progress report on its study of the potential impacts of hydraulic fracturing (fracking) on drinking water should be issued before the end of the year, and the final report published in 2014.