To accelerate upstream development by its U.S. onshore exploration business, Tulsa-based Unit Corp. agreed Thursday to sell a half-stake in natural gas processing subsidiary Superior Pipeline Co. LLC for $300 million.
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Baker Hughes Inc. late Tuesday said it was teaming up with a Goldman Sachs unit and a private equity firm to create a pure-play North American land pressure pumping company under the BJ Services Co. brand.
Tucson Electric Power (TEP) has announced it will end its use of coal in favor of natural gas in its largest local generation plant two years ahead of previous plans. TEP officials cited regional clean air and increasing tougher federal emissions standards as drivers for the move.
Portland General Electric Co. (PGE) opened the new year with an additional 220 MW of natural gas-fired generation with the opening of its Port Westward Unit 2, which began commercial operation last Tuesday.
Two controversial proposals for the robust Bakken oil patch in North Dakota came to an end Monday with more of a whimper than a bang, according to the three-member Industrial Commission.
Pennsylvania’s Environmental Hearing Board on Wednesday ruled that it does not have “original jurisdiction” to approve orders for well spacing and drilling units — or requests for forced pooling — as they’re referred to in the state.
A unit of Halliburton Co. on Thursday agreed to plead guilty to one misdemeanor count of destroying evidence in connection with the April 2010 Macondo well blowout in the deepwater Gulf of Mexico, the U.S. Department of Justice (DOJ) said. The settlement is subject to district court approval.
Halcon Field Services, a unit of Halcon Resources Corp., is proposing to build a storage and rail-loading terminal for Utica Shale oil at the Ohio Commerce Center industrial rail park in the village of Lordstown, in Trumbull County, OH. Plans call for four bay truck racks, a 20-rail car loading platform, and six 90,000 bbl storage tanks. The $50-$60 million project is to be completed in three phases, with the first phase expected to go into service by the end of this year. A zoning variance was recently approved to allow construction to begin.
Houston-based ZaZa Energy LLC has struck a deal to sell about 10,300 acres in Fayette, Gonzalez and Lavaca counties in Texas for about $28.8 million to a unit of Sanchez Energy after a deal fell through with another buyer that was unable to fund and close a transaction, parent ZaZa Energy Corp. said. ZaZa calls the acreage its Moulton properties. In March, ZaZa announced two pending Moulton sales: one for $43.3 million for 10,000 acres and another for the remainder of its Moulton properties for $9.2 million (see Shale Daily, March 26). “Given the current landscape, we believe that transacting at this metric was the best and most prudent action for the company at this time,” ZaZa CEO Todd Brooks said of the latest deal. “We remain focused on monetizing select Eagle Ford assets in order to improve our balance sheet, and we are currently pursuing other joint ventures in the area. In the Eaglebine, our joint venture is progressing as planned, and we anticipate timely drilling of the first three wells as part of the agreement [see Shale Daily, April 8].” ZaZa has received a down payment of $1.4 million for the Moulton properties; closing of the sale is expected by July 31.