More Oil & Gas News

Ryder Scott: Trinidad and Tobago’s gas reserves fell in 2013

Trinidad and Tobago’s proved natural gas reserves declined from 13.106 tcf in 2012 to 12.24 tcf in 2013. This is according to the latest survey of the Caribbean twin-island nation’s nonassociated gas conducted by Houston-based Ryder Scott Petroleum Consultants.

WRI: Shale oil, gas face tight competition for water

Governments and businesses trying to develop tight oil and gas resources could face intense competition for water that would be used in hydraulic fracturing, the World Resources Institute said in a recent report. It found that 38% of the world’s tight shale resources face high to extremely high water stress or arid conditions.

EQT, NextEra to build Marcellus-Utica gas pipeline

EQT Corp. and NextEra US Gas Assets LLC, an indirect, wholly owned subsidiary of NextEra Energy Inc., have formed a joint venture, Mountain Valley Pipeline LLC, to build and own the 330-mile Mountain Valley natural gas pipeline. The joint venture also launched a binding open season for shipment on the 2-bcfd system.

Halliburton announces $1.1 billion Macondo claims agreement

Halliburton Co. reported a $1.1 billion agreement that it said would settle most of the class claims asserted by plaintiffs against the Houston oil field service company following the 2010 Macondo deepwater well blowout in the Gulf of Mexico.

MARKET WATCH: NYMEX, Brent crude oil futures dive on ample world oil supply

Crude oil futures prices slumped on both the New York and London markets on Sept. 2, with Brent reaching its lowest level in 16 months while front-month US light, sweet crude prices dripped to their lowest since January.

Buckeye to buy Corpus Christi terminal interest in $860 million deal

Buckeye Partners LP has agreed to acquire 80% interest in a company that it will jointly own with Trafigura AG for $860 million. The transaction is expected to close later this month.

Deals with CNPC seen good for Russian firms

Russia’s recent oil and gas deals with China, some of which have been questioned on the basis of pricing, are good for Russian companies overall, argues an analyst at Moody’s Investors Service.

Pembina signs $650 million deal to buy Vantage line, associated assets

Pembina Pipeline Corp., Calgary, has agreed to acquire the Vantage pipeline system and Mistral Midstream Inc.’s interest in the Saskatchewan ethane extraction plant (SEEP) for $650 million from certain entities affiliated with Riverstone Holdings LLC. The transaction, effective Aug. 1, is expected to close in the fourth quarter.

Gas production set to resume at In Amenas gas facilities

Statoil ASA and partners BP PLC and Algerian state-owned Sonatrach are set to resume “ordinary operations” at the In Amenas gas production facility of eastern Algeria near the Libyan border 19 months after it was seized by Islamic militants.

Inpex transferring 25% interest in East Malaysia deepwater block to Santos

Inpex Corp. is transferring 25% interest in a deepwater exploration block in East Malaysia to Santos Ltd.

Sunshine interim CEO resigns; executive chairman assumes role

Michael Hibberd, executive chairman of Sunshine Oilsands Ltd., Calgary, has assumed direct responsibility for all tasks and functions of chief executive officer after the company’s board accepted the resignation of David Sealock as interim president and chief executive officer.

MARKET WATCH: Crude oil prices slip on weak global demand

The ICE contract for Brent crude oil dropped modestly on Sept. 1 while the New York market was closed for the Labor Day holiday in the US.

BOEM answers assertions

A federal government agency's scientists usually don't feel compelled to more fully explain the basis for their decisions.

Can anyone name top agency in count of restrictive regs?

The leader in a new measure of regulatory activism is-can anyone guess? While suspense builds, a description of the tracking mechanism is in order.

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