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LLOG, Blackstone form Gulf of Mexico partnership

Privately owned LLOG Exploration Co. LLC of Covington, La., and Blackstone Energy Partners formed a long-term, strategic partnership in which the two committed to invest more than $1.2 billion to expand and accelerate LLOG’s offshore operations in the Gulf of Mexico.

Hess considers selling Russian interests

Hess Corp. said it is considering whether to sell its Russian subsidiary, Samara-Nafta, which produces 50,000 boe/d in the Volga-Urals region.

Shell group sells another Nigerian stake

Shell Petroleum Development Co. of Nigeria (SPDC) has completed its eighth sale of onshore interests in Nigeria with the transfer of a 30% stake in Oil Mining Lease 30 in the Niger Delta to Shoreline Natural Resources Ltd. (OGJ Online, Sept. 7, 2012).

Storms, oil, and the media

All things being equal, a Category 1 hurricane that blows through oil and gas production in the Gulf of Mexico and threatens Gulf Coast refineries doesn't get as much national media coverage as one that lands in the middle of television networks and big-name newspapers in New York City.

Indian oil firms to buy stake in Carrizo's Niobrara shale assets

Oil India Ltd. (OIL) and Indian Oil Corp. (IOC) jointly agreed to acquire 30% of Carrizo Oil & Gas Inc.'s liquid-rich shale assets in the Niobrara basin in Colorado through their wholly owned US subsidiaries for $82.5 million total, marking the India parent companies' first US upstream acquisition.

NuStar to buy Eagle Ford, crude NGL pipelines

NuStar Energy LP has agreed to purchase crude oil pipeline, gathering, storage, and natural gas liquids assets in the Eagle Ford shale from TexStar Midstream Services LP.

Antero Resources agrees to sell Piceance basin assets

Antero Resources of Denver agreed to sell all of its natural gas and pipeline assets in the Piceance basin to a private company for $325 million in cash plus the assumption of all of Antero’s Rocky Mountain firm transportation obligations. The buyer was not identified.

Continental Resources to buy more Bakken formation assets

Continental Resources Inc. has agreed to buy certain Bakken formation producing and undeveloped properties for $650 million. The property includes leasehold of 120,000 net acres, primarily in the North Dakota counties of Divide and Williams.

BG sells stake in Brazilian gas distributor

BG Group has completed the sale of its 60.1% interest in Brazilian gas distributor Comgas for $1.7 billion to Cosan SA Industria e Comercio of Brazil.

PwC reports increasing MLP deal activity in last 2 years

US upstream master limited partnerships (MLP) participated in a growing percentage of oil and gas asset transactions during the last 2 years, PwC US reported as part of its latest quarterly analysis of oil and gas asset transactions.

Inergy Midstream to acquire COLT oil hub in Bakken formation

Inergy Midstream LP, Kansas City, agreed to a $425 million purchase of Sugar Land, Tex.-based Rangeland Energy LLC, which owns and operates the COLT open-access crude oil rail terminal, storage, and pipeline complex to handle unconventional Bakken oil production near Epping, ND, in Williams County.

PIPELINE INTEGRITY—2 (Conclusion): Model choice governs accuracy of corrosion predictions

Pipeline reliability analysis requires selection of a defect growth model that will accurately predict both the time evolution of corrosion defects and the probability of these defects' failure.

FOCUS: UNCONVENTIONAL OIL & GAS: More companies investing in Duvernay liquids potential

Canada's Duvernay shale play is gaining the attention of more investors, including ExxonMobil Corp., which recently announced plans to acquire Celtic Exploration Ltd. in a move that will give ExxonMobil access to the play in west-central Alberta.

Vanguard unit to buy Bill Barrett's Wind River gas assets

A Vanguard Natural Resources LLC affiliate agreed to buy certain natural gas assets from Bill Barrett Corp., including all Wind River basin producing properties, for $335 million.

Talisman defers investing in Quebec's shale gas

Talisman Energy Inc. has decided against committing any more near-term investment for shale gas exploration in Quebec, the Calgary-based company said in comments about its quarterly financial statement.

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