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Apache planning exit of LNG projects in Australia, Canada

Aug 1, 2014

In a move “consistent” with its “ongoing repositioning for profitable and repeatable North American onshore growth,” Houston independent Apache Corp. reported July 31 during its quarterly earnings statement that it would exit completely its holdings in the Wheatstone LNG project in Western Australia and the Kitimat LNG project in Bish Cove, British Columbia.

AEP unit completes $2.5-billion Permian acquisition

Aug 1, 2014

American Energy–Permian Basin LLC, an affiliate of Oklahoma City-based American Energy Partners LP, has completed its acquisition of 63,000 net acres and associated gathering assets in the southern Permian basin from affiliates of Denver-based Enduring Resources LLC for $2.5 billion.

City approves Chevron’s Richmond refinery revamp

Aug 1, 2014

Local officials have issued a final approval for Chevron Corp. to proceed with a long-stalled modernization project at its 257,000-b/d Richmond, Calif.

Senate Democrats call for expanded leasing in next OCS 5-year plan

Aug 1, 2014

Energy and Natural Resources Committee Chairwoman Mary L. Landrieu (D-La.) and three other US Senate Democrats urged US Sec. of the Interior Sally Jewell to consider leasing more of the US Outer Continental Shelf for oil and gas exploration and development in the next 5-year program.

Investigation under way into Kansas refinery fire

Aug 1, 2014

CVR Refining LP, Sugar Land, Tex., has begun an official investigation into the cause of a fire that broke out on July 29 at the isomerization (isom) unit at its 115,000 b/d refinery at Coffeyville, Kan.

BLM drilling permit bill attracts broad support at Senate hearing

Aug 1, 2014

Witnesses and committee members argued over the extent of oil and gas drilling permit delays at US Bureau of Land Management field offices. But they strongly supported a bill that would make permanent a pilot program enacted in 2005 to begin relieving the problem at a July 29 US Senate Energy and Natural Resources Committee hearing.

MARKET WATCH: Crude oil futures prices in New York end July below $100/bbl mark

Aug 1, 2014

The New York Mercantile Exchange September crude oil contract dropped $2.10 July 31 to close the month below the $100/bbl level, settling at $98.17/bbl. The October contract decreased $1.72 to $97.32/bbl.

Osum completes purchase of Orion project from Shell

Aug 1, 2014

Osum Production Corp., a wholly owned subsidiary of Osum Oil Sands Corp., Calgary, has completed its purchase of the Orion oil sands project in the Cold Lake region of Alberta from Shell Canada for $325 million (Can.).


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