General Interest
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Tesoro to sell interests in Hawaiian refiner
… price is $75 million, plus the market value of net working capital, which it expects to be about $225-275 million. The company expects to complete the sale in this year’s third quarter. Earlier this month, Tesoro closed on its purchase of BP PLC …
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Energy exports highlight EIA conference, House subcommittee hearing
… continued. “That is why it’s imperative that the US government not turn its back on crude oil and natural gas exports ..... but I think we’re going to have it sooner than many people think.” Contact Nick Snow at nicks@pennwell.com .
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Beach drills four successful Cooper basin wells
… wells could add 1 million bbl of oil to its portfolio. The company attributes much of this recent success to the acquisition of 3D seismic in the region that had doubled the company ’s success rate to 50%. Also, an agreement with the South …
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MARKET WATCH: Oil prices slipped lower as Middle East concerns cooled
Oil prices slipped lower June 17 with front-month crude essentially flat in the New York market after a strong surge June 14 on reports the US will begin arming rebels in Syria. Natural gas was up 1% with favorable weather forecasts.
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OGP elects Birrell as chairman
The International Association of Oil & Gas Producers (OGP) has elected Gordon Birrell to serve as chair of its management committee. He was elected at the OGP’s recent annual general meeting in Brisbane.
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Illinois governor signs hydraulic fracturing regulation
Illinois Gov. Pat Quinn has signed into law regulation for high-volume hydraulic fracturing, the governor’s office said in a news release.
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Variables, uncertainties still shape world energy outlook
Technological breakthroughs may have increased the world’s potential oil and gas resources significantly, but variables and uncertainties will determine how quickly and to what extent they are developed, participants emphasized during the opening day of the US Energy Information Administration’s ...
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Petrominerales tests Llanos oil find at 5,900+ b/d
… water cut over 10 hr on electric submersible pump. When the company shut off the ESP due to limited storage, the well had been ..... its joint venture partner at no cost to Petrominerales. The company also will continue the formal process to pursue opportunities …
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MARKET WATCH: Oil prices end week with a surge
Oil prices surged June 14, with front-month crude up 2% for the week on reports the US will begin arming rebels in Syria. However, natural gas was down 2.5% in the New York futures market because of forecasts of mild weather.
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Natural Resource Partners to buy stake in Bakken, Three Forks
Natural Resource Partners LP, Houston, agreed to acquire an 11% working interest in producing assets in the Bakken and Three Forks formations in North Dakota and Montana from Abraxas Petroleum Corp. for $35.3 million, marking NRP’s entry into the Bakken formation.
