More Unconventional News

Natural Resource Partners to expand Williston assets

Oct 6, 2014

Natural Resource Partners LP (NRP), Houston, has agreed to acquire nonoperated working interests in oil and gas properties in the Williston basin’s Bakken-Three Forks play from an affiliate of Kaiser-Francis Oil Co. for $340 million. The deal, effective Oct. 1, is expected to close in November.

Chevron Canada to sell 30% in Duvernay shale to Kufpec Canada for $1.5 billion

Oct 6, 2014

Chevron Corp. said its Chevron Canada Ltd. unit plans to sell a 30% interest in its Duvernay shale play to Kuwait Foreign Petroleum Exploration Co.’s Kufpec Canada Inc. unit for $1.5 billion. Chevron will retain 70% and remain operator.

FourPoint, EnerVest to purchase western Anadarko basin assets for $1.95 billion

Oct 3, 2014

A joint venture of Denver-based startup FourPoint Energy LLC and privately held institutional affiliates of EnerVest Ltd., Houston, has agreed to acquire all of the oil and gas properties and related midstream assets in the western Anadarko basin belonging to Linn Energy LLC, Houston, for $1.95 billion, of which $975 million is net to FourPoint.

BHI: US drilling rig count falls to 1,922

Oct 3, 2014

The US drilling rig count lost 9 units to settle at 1,922 rigs working during the week ended Oct. 3, Baker Hughes Inc. reported.

EIA: US industrial gas demand to rise 4% in 2015

Oct 3, 2014

Relatively low prices of natural gas have contributed to steady increases in US industrial gas consumption since 2009, especially as a feedstock for chemical production.

MEG Energy files OSCA application with AER for Surmont oil sands project

Oct 3, 2014

MEG Energy Corp., Calgary, has submitted an Oil Sands Conservation Act application with Alberta Energy Regulator for its Surmont steam-assisted gravity drainage (SAGD) project.

US, UAE energy agreement to focus on five areas

Oct 3, 2014

A memorandum of understanding signed by the US and the United Arab Emirates will focus on five areas: energy policy formulation, energy efficiency, the energy-water nexus, carbon capture and storage, and unconventional oil and gas development.

BP Oman lets drilling contracts for Khazzan tight gas project

Oct 2, 2014

BP Oman has let two long-term drilling contracts totaling $730 million for the Khazzan gas project in the southern portion of Block 61.

Gazprom Neft enters new stage of shale oil exploration in W. Siberia

Oct 2, 2014

JSC Gazprom Neft reported reaching a new stage in its exploration of shale oil deposits in Western Siberia’s Krasnoleninsky field.

NGSA forecasts lower winter gas prices on a combined analysis

Oct 1, 2014

In its 14th annual Winter Outlook assessment of the natural gas market, the Natural Gas Supply Association (NGSA) expects downward price pressure on the natural gas market compared with last winter.

EPP to build processing, pipelines for Delaware basin

Sep 30, 2014

Enterprise Products Partners LP (EPP), Houston, will build a cryogenic natural gas processing plant in Eddy County, NM, along with associated gas and NGL pipelines to handle growing production of NGL-rich natural gas in the Delaware basin.

Statoil, Shell awarded shale license in Algeria

Sep 30, 2014

Algeria’s energy ministry has awarded Statoil ASA and Royal Dutch Shell PLC the 2,730-sq-km Timissit permit license in the Illizi-Ghadames basin in the southeast part of the country. The award is part of Algeria’s Fourth International Bid Round launched in January.

Chief operating officer named for American Energy units

Sep 29, 2014

American Energy Partners LP, Oklahoma City, has appointed John K. Reinhart as the chief operating officer of affiliates American Energy–Utica LLC (AEU) and American Energy–Marcellus LLC (AEM).

Encana to acquire Athlon Energy in $7.1 billion deal

Sep 29, 2014

Encana Corp., Calgary, has agreed to acquire all of the issued and outstanding shares of common stock of Athlon Energy Inc., Ft. Worth, through an all-cash tender offer of $5.93 billion. Encana also will assume Athlon’s $1.15 billion of senior notes, bringing the total transaction value to $7.1 billion.

Watching Government: Smaller study, big early findings

Sep 29, 2014

It may not have had the snap and sizzle of a study the National Academy of Sciences released the same day, but a report the US Department of Energy unveiled on Sept. 15 also put to rest concerns about natural gas from deep hydraulically fractured wells migrating upward into drinking water supplies.

BHI: US drilling rig count unchanged for second straight week

Sep 26, 2014

For a second consecutive week the US drilling rig count was unchanged at 1,931 rigs working during the week ended Sept. 26, Baker Hughes Inc. reported.

Shell completes Marcellus, Utica acquisition

Sep 26, 2014

Royal Dutch Shell PLC has completed a previously reported deal in which it acquires 155,000 net acres in the Marcellus and Utica areas of Pennsylvania and receives a cash payment of $925 million from Ultra Petroleum Corp., Houston, in exchange for Shell’s 19,000 net acres of leasehold interest in the Pinedale of Wyoming, including associated gathering and processing contracts.

Statoil postpones Corner development at KKD oil sands project in Alberta

Sep 26, 2014

Statoil ASA has decided to postpone for a minimum of 3 years the Corner development at the Kai Kos Dehseh (KKD) oil sands project in northern Alberta. A staff reduction of about 70 employees is expected.

Magellan launches Niobrara-to-Cushing crude line open season

Sep 24, 2014

Magellan Midstream Partners LP has launched an open season to assess customer interest in transporting various grades of crude oil from the Niobrara shale to its storage site in Cushing, Okla., via its proposed 600-mile, 20-in. OD Saddlehorn pipeline.

Cabot to add 30,000 net acres to Eagle Ford leasehold

Sep 24, 2014

Cabot Oil & Gas Corp., Houston, has agreed to acquire 30,000 net acres in the Eagle Ford shale from an undisclosed seller for $210 million. The transaction is expected to close in October.

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