-- Range increases Permian basin holdings Range Resources Corp., Fort Worth, has agreed to acquire oil and gas properties in the Permian basin for $116.5 million through its purchase of privately held Plantation Holdings II LLC.
-- Crosstex Energy plans pipeline expansion Crosstex Energy LP, Dallas, plans to expand and extend the Crosstex LIG pipeline system to access natural gas being developed in northwestern Louisiana and to receive as much as 700 MMcfd of gas from East Texas to be delivered by a new interstate pipeline of Kinder Morgan Energy Partners LP (KMEP).
-- S&P's sees credit lift from M&A activity Standard & Poor's Rating Services said the oil and gas industry's credit ratings appear poised to benefit from expected high merger and acquisition activity in the US this year.
-- Strong floating production vessel orders seen The oil and gas industry is expected to invest $33 billion in the next 5 years to install 110 floating production and storage vessels (FPS), according to a report released by UK analysts Douglas Westwood at the Offshore Technology Conference in Houston May 2.
-- ChevronTexaco Corp. becomes Chevron Corp. ChevronTexaco Corp., which recently announced an agreement to acquire Unocal Corp., has changed its name to Chevron Corp. (OGJ Online, Apr. 4, 2005).
-- Anadarko promotes executives Anadarko Petroleum Corp. named Karl F. Kurz, formerly vice-president, marketing, to senior vice-president, marketing, and general manager, US Onshore.
-- Buckeye buys ExxonMobil's pipeline, terminals Buckeye GP LLC, the general partner of Buckeye Partners LP, Emmaus, Pa, has completed its acquisition of a products pipeline system and interests in five terminals from affiliates of ExxonMobil Corp.
-- Kazakhs discuss involvement in BTC pipeline A delegation of Kazakhstan's national oil and gas company KazMunayGaz has arrived in Baku for talks on transporting Kazakh crude oil through the Baku-Tbilisi-Ceyhan (BTC) oil pipeline.
-- Design starts for coal gasification plant ConocoPhillips and Fluor Corp., under an alliance agreement, are performing the front-end engineering design (FEED) of a coal gasification process for the Southern Illinois Clean Energy Center (SICEC) to be located at a coal mine in Williamson County, Ill.
-- State companies, partners dominate China's retail market Sinopec Corp. and PetroChina, along with their joint ventures involving several international oil majors, will dominate China's retail gasoline market well into the future, predicts Lijuan Wang in an April FACTS Inc. report.
-- APPEA chief seeks action on energy policy The chairman of the Australian Petroleum Production and Exploration Association (APPEA), Reg Nelson, used his keynote speech to the association's annual conference in Perth to urge government to agree on strategic priorities for the Australian petroleum industry and implement appropriate policies.
-- Chesapeake Energy buying Texas properties Chesapeake Energy Corp. has agreed to acquire natural gas properties from four privately owned companies in four transactions that total $686.4 million.
-- Cal Dive unit buys Gulf of Mexico stakes Energy Resource Technology entered agreements to acquire separate, 50% working interests in the Devil's Island discovery on Garden Banks Block 344 E/2 and in the Tulane prospect on Garden Banks Blocks 114/158, both in the Gulf of Mexico.
-- Nippon Oil buying Devon properties A unit of Japan refiner Nippon Oil Corp. is buying stakes in 67 Gulf of Mexico oil and gas blocks from Devon Energy Corp., Oklahoma City.
In this webinar we'll discover how Smarter Infrastructure from IBM can help oil and gas production, pipeline and storage teams. Learn how you can reduce response time from your existing sensors to seconds, and provide valuable intelligence to your enterprise.
Though unconventional plays are rich in resources and high in economic potential, many challenges can be associated with the development of these fields. Have you experienced the challenges of tight project economics, significant geologic uncertainty, large engineering initiatives, multiple wells, rapid decline rates, high service intensity and costs?
West Engineering Services and IBM will discuss how the oil & gas companies are driving toward both greater productivity and reduced risk through new integrated operation approaches. These companies are deploying new processes and better leveraging technology to achieve these dual goals.