General Interest

MDU Resources unit buys Bakken midstream assets

Mon, 21 May 2012 19:29:00 GMT

MDU Resources Group Inc., through its Bitter Creek Pipelines LLC subsidiary, plans to pay $66 million for a 50% interest in Whiting Oil & Gas Corp.’s Bakken midstream assets near Belfield, ND.

MARKET WATCH: European crisis weights down oil prices

Mon, 21 May 2012 17:46:00 GMT

Commodity and equity markets generally declined May 18 among global concerns over sluggish economies and the seemingly inevitable exit of Greece from the Euro-zone.

Total confirms G4 well top kill completely stopped Elgin gas leak

Mon, 21 May 2012 16:14:00 GMT

Total UK Ltd. said 5 days of close monitoring confirms the success of a May 15 top kill operation on the leaking G4 natural gas well on the Elgin complex, 240 km from Aberdeen in the UK North Sea.

DOI says leases remain idle; industry groups dispute claim

Mon, 21 May 2012 05:00:00 GMT

Diamond Offshore orders drillship, sells jack ups

Mon, 21 May 2012 05:00:00 GMT

Diamond Offshore Drilling Inc. ordered a $655 million ultradeepwater drillship from Hyundai Heavy Industries Co. Ltd. with delivery scheduled for fourth-quarter 2014.

Cuba drilling continues as US groups press spill response need

Mon, 21 May 2012 05:00:00 GMT

Repsol SA continues drilling Cuba's first offshore oil well as some US government agencies, oil and gas organizations, and environmental groups press to ease restrictions that would keep US companies from responding if the well blows out and creates a spill, experts at a Center for International Policy seminar said.

Salazar applauds collaboration, authorizes eastern Utah gas project

Mon, 21 May 2012 05:00:00 GMT

US Interior Sec. Ken Salazar hailed the collaboration that made an agreement possible as he signed the record of decision authorizing Anadarko Petroleum Corp.'s Greater Natural Buttes natural gas project in eastern Utah.

Watching Government: Redundant regulations

Mon, 21 May 2012 05:00:00 GMT

The White House announced five final rules on May 10 that it said would save nearly $6 billion in the next 5 years by eliminating outdated regulations and unjustified requirements.

Outreach to industry isn't election gimmick, White House aide says

Mon, 21 May 2012 05:00:00 GMT

The Obama administration is reaching out to the oil and gas industry more than it did initially to develop regulations, but it is not an election-year gimmick, a leading White House official said.

IPAA: Independent review finds EPA Pavillion report lacks data

Mon, 21 May 2012 05:00:00 GMT

An independent review of the US Environmental Protection Agency's draft report on water near Pavillion, Wyo., concluded scientific analysis fails to support EPA's suggestion that hydraulic fracturing possibly contributed to water contamination, the Independent Petroleum Association of America reported.

CBO study examines policy options to reduce oil price volatility

Mon, 21 May 2012 05:00:00 GMT

Policies that reduce the US transportation system's heavy reliance on petroleum products would more effectively shield consumers from volatile prices and supply interruptions in the long term than simply increasing US production, a new Congressional Budget Office study concluded.

IEA: Global oil demand growth accelerating

Mon, 21 May 2012 05:00:00 GMT

After posting near-zero annual growth in the fourth quarter of 2011, global oil demand growth will gradually accelerate throughout 2012, culminating in an increase of 1.2 million b/d by this year's final quarter, the International Energy Agency said in its latest monthly oil market report.

API outlines main issues for GOP, Democrats' 2012 platforms

Mon, 21 May 2012 05:00:00 GMT

The American Petroleum Institute announced it will try to make more access to federally controlled energy resources, commonsense regulations, quicker permit decisions, and market-based renewable and alternative energy research and development provisions in the 2012 Democratic and Republican party platforms.

Chesapeake believes asset sales will help ease financial woes

Mon, 21 May 2012 05:00:00 GMT

Oklahoma City independent Chesapeake Energy Corp. is confident it will complete assets sales to help resolve financial concerns, its chief executive officer told analysts and investors during a conference call in which he also outlined a new $3 billion loan.

Oil prices in the stars

Mon, 21 May 2012 05:00:00 GMT

E-mail recently delivered a message advocating use of "financial astrology" to predict "with 70-90% accuracy" prices of oil, gold, corporate stocks, or the exchange rate for the euro vs. the dollar.

Regulation, good and bad

Mon, 21 May 2012 05:00:00 GMT

Polarization of US politics distorts conversation about regulation. The oil and gas industry has witnessed too often the default assertion that one side supports regulation while the other opposes it. This is absurd. Regulation exists.

EQUIPMENT | SOFTWARE |LITERATURE

Mon, 21 May 2012 05:00:00 GMT

Analyst: US unconventional liquids production could mean zero net oil imports

Fri, 18 May 2012 20:11:00 GMT

Production from unconventional liquids plays could result in the US becoming independent from oil imports before 2020, an analyst told attendees at an International Association of Drilling Contractors conference on onshore drilling.

Former ambassadors cite foreign policy impacts from oil imports

Fri, 18 May 2012 17:37:00 GMT

More decisive action is needed to reduce US reliance on imported crude oil, which pushed the foreign trade deficit past $500 billion in 2011 to unsustainable levels, Securing America’s Future Energy (SAFE) said in the first study by its new Diplomatic Council on Energy Security.

API: Gasoline demand posted small increase in April

Fri, 18 May 2012 17:21:00 GMT

While total US demand for oil products dipped in April, gasoline demand climbed almost 1% from a year earlier to average 8.842 million b/d, according to the latest monthly statistical report from the American Petroleum Institute.

MARKET WATCH: Energy prices spiral down amid European woes

Fri, 18 May 2012 17:16:00 GMT

Energy prices continued to spiral downward with crude slipping 0.3% May 17 in the New York futures market as the European Central Bank halted loans to banks in Greece, bringing the Euro-zone a step closer to possible break up.

Longreach names vice-president, exploration

Fri, 18 May 2012 17:11:00 GMT

Sydney independent Longreach Oil & Gas Ltd. has appointed Ronald Lansdell as vice-president, exploration.

BLM releases first Pinedale Anticline groundwater monitoring report

Fri, 18 May 2012 17:03:00 GMT

The US Bureau of Land Management’s field office in Pinedale, Wyo., released the first of four groundwater monitoring reports for the Pinedale Anticline. The report aims to address hydrogeologic data gaps.

Continental Resources makes senior management changes

Fri, 18 May 2012 16:46:00 GMT

Continental Resources Inc., Oklahoma City, Okla., made changes in its senior management.

LINN Energy joins Anadarko in Salt Creek carbon dioxide flood

Fri, 18 May 2012 16:00:00 GMT

LINN Energy LLC, Houston, will fund $400 million of Anadarko Petroleum Corp.’s future development costs in giant Salt Creek oil field in Wyoming in exchange for being assigned a 23% interest in the carbon dioxide enhanced oil recovery project.

MARKET WATCH: Oil prices continue retreat from Europe's economic woes

Thu, 17 May 2012 16:55:00 GMT

Oil prices continued their downhill slide May 16 with front-month crude down 1.3% in the New York futures market because of what analysts in the Houston office of Raymond James & Associates Inc. described as “the darkened outlook in Europe.”

Atlas to acquire Titan Fort Worth Barnett shale assets

Thu, 17 May 2012 14:52:00 GMT

Atlas Resources Partners LP, Philadelphia, will acquire 250 bcf equivalent of proved reserves in the Barnett shale in the Fort Worth basin from Titan Operating LLC, private Fort Worth independent, for $184 million in ARP units.

Taipan may merge with Kenya explorer Lion Petroleum

Thu, 17 May 2012 14:09:00 GMT

Taipan Resources Inc., Vancouver, BC, entered into a preliminary agreement to merge with Lion Petroleum Corp., which has interests in 9.7 million exploratory acres onshore Kenya. Closing is subject to reaching a definitive agreement.

MARKET WATCH: WTI price continues to fall as Brent rallies

Wed, 16 May 2012 17:54:00 GMT

Oil prices fell May 15 in the New York market as benchmark US crude came under heavy selling pressure from the economic and political turmoil in Europe that also undermined the equity market.

Marathon becoming Vilje oil field operator

Wed, 16 May 2012 16:59:00 GMT

Statoil is transferring operatorship of Vilje oil field offshore Norway to Marathon Oil Norge, effective Sept. 1 if approved by the Norwegian Ministry of Petroleum and Energy.

Total believes kill operation has stopped Elgin gas leak

Wed, 16 May 2012 15:15:00 GMT

Total UK Ltd. reported a well intervention operation stopped the G4 well natural gas leak on the Elgin complex in the UK North Sea within 12 hr of when workers started pumping heavy mud into the well.

UK: Land, offshore well data made available on line

Wed, 16 May 2012 15:15:00 GMT

The UK Department of Energy and Climate Change and the British Geological Survey have authorized TGS-NOPEC Geophysical Co. to release on line new and historical data for all land and offshore wells in the UK.

Two firms connect to pursue Indonesia CBM

Wed, 16 May 2012 14:40:00 GMT

CBM Asia Development Corp., Vancouver, BC, and Continental Energy Corp., Jakarta, formed a joint study and bid group to investigate coalbed methane opportunities in Indonesia.

IPAA: Independent review finds EPA Pavillion report lacks data

Tue, 15 May 2012 21:26:00 GMT

An independent review of the US Environmental Protection Agency’s draft report on water near Pavillion, Wyo., concluded scientific analysis fails to support EPA’s suggestion that hydraulic fracturing possibly contributed to water contamination, the Independent Petroleum Association of America reported.

DOI says leases remain idle; industry groups dispute claim

Tue, 15 May 2012 20:35:00 GMT

More than two thirds of federal offshore tracts leased by the oil and gas industry and more than half of the federal onshore acreage companies hold in the Lower 48 remains idle, the US Department of the Interior said in a new report. Groups representing producers immediately dismissed the allegation as tired election year rhetoric.

API outlines main issues for GOP, Democrats' 2012 platforms

Tue, 15 May 2012 19:20:00 GMT

Canada, Poland eye cooperation on energy

Tue, 15 May 2012 16:46:00 GMT

Unconventional oil and gas resources topped a list of areas that the governments of Canada and Poland have identified as having “potential for further dialog and cooperation.”

Chesapeake confident asset sales will help ease financial concerns

Tue, 15 May 2012 16:28:00 GMT

MARKET WATCH: Greek financial tragedy pulls down energy prices

Tue, 15 May 2012 16:18:00 GMT

The drop in energy prices accelerated May 14 in a broad market selloff after political parties in Greece failed to form a new coalition government over the weekend.

BHP Billiton ponders writedown of US shale gas assets

Tue, 15 May 2012 15:17:00 GMT

BHP Billiton Petroleum is considering whether to write down its US shale gas assets by the end of the quarter, as it already plans to cut the number of shale gas wells it drills in the coming months, the company’s chief executive officer told the Australian Petroleum Production & Exploration Association conference in Adelaide.

Outreach to industry isn't election gimmick, White House aide says

Mon, 14 May 2012 21:48:00 GMT

The Obama administration is reaching out to the oil and gas industry more than it did initially to develop regulations, but it is not an election-year gimmick, a leading White House official said.

MARKET WATCH: Crude oil prices resume downward trend

Mon, 14 May 2012 17:21:00 GMT

After a 1-day break in the recent losing streak, oil prices retreated again May 11 because of continued economic and political turmoil in Europe, the weakening euro, and less-than-expected growth in China’s industrial production and power output, among other issues.

TransCanada submits new Keystone XL permit application

Mon, 14 May 2012 05:00:00 GMT

TransCanada Corp. has submitted a new Presidential Permit application to the US Department of State for its Keystone XL Pipeline from the US-Canada border in Montana to Steele City, Neb.

OTC: Operators assess advances in offshore drilling risk management

Mon, 14 May 2012 05:00:00 GMT

Recent advances in managing human and environmental risks associated with drilling and production operations in the deepwater Gulf of Mexico were brought into sharp focus for delegates attending a panel discussion Apr. 30 at the Offshore Technology Conference in Houston.

OTC: Government regulations won't eliminate risks, panelists say

Mon, 14 May 2012 05:00:00 GMT

Government regulators can work with oil and gas producers to monitor data, but this does not eliminate the risk of incidents such as the 2010 Deepwater Horizon disaster, panelists said in a May 2 session of the Offshore Technology Conference in Houston.

Congressional subcommittee urged not to duplicate state frac regulations

Mon, 14 May 2012 05:00:00 GMT

Witnesses testifying before a congressional subcommittee field hearing in Denver on May 2 said US Department of the Interior efforts to regulate hydraulic fracturing on public land will duplicate measures already implemented by some states.

EPA Region 6 chief resigns over 2010 ‘crucifixion' remark

Mon, 14 May 2012 05:00:00 GMT

Al Armendariz, the US Environmental Protection Agency's Region 6 administrator in Dallas, resigned effective Apr. 30 after apologizing 4 days earlier for a 2010 videotaped remark comparing his enforcement philosophy to an ancient Roman army invading a village and crucifying a few leaders to bring everyone else into line.

EPA releases draft permitting guidance for diesel fuel in fracing

Mon, 14 May 2012 05:00:00 GMT

The US Environmental Protection Agency released draft underground injection control (UIC) program permitting guidance for Class II wells that use diesel fuel during hydraulic fracturing.

MARKET WATCH: Crude ends losing streak in NY market

Fri, 11 May 2012 17:34:00 GMT

Crude oil prices inched up May 10, breaking a six-session losing streak in the New York market, but global economic problems remain grim with markets under pressure as Greece tries for a third time to form a coalition government among diverse political parties.

Director becomes interim Baytex chief

Fri, 11 May 2012 17:10:00 GMT

Raymond Chan, executive chairman of Baytex Energy Corp., Calgary, has assumed the additional role of interim chief executive officer, replacing Anthony Marino, president and chief executive, who is leaving the company.

IEA: Global oil demand growth accelerating

Fri, 11 May 2012 16:32:00 GMT

After posting near-zero annual growth in the fourth quarter of 2011, global oil demand growth will gradually accelerate throughout 2012, culminating in an increase of 1.2 million b/d by this year’s final quarter, the International Energy Agency said in its latest monthly oil market report.

Cuba drilling continues as US groups press spill response need

Fri, 11 May 2012 15:10:00 GMT

Repsol SA continues drilling Cuba’s first offshore oil well as some US government agencies, oil and gas organizations, and environmental groups press to ease restrictions that would keep US companies from responding if the well blows out and sets off a spill, experts at a Center for International Policy seminar said.

CBO study examines policy options to reduce oil price volatility

Thu, 10 May 2012 21:59:00 GMT

Policies that reduce the US transportation system’s heavy reliance on petroleum products would more effectively shield consumers from volatile prices and supply interruptions in the long term than simply increasing US production, a new Congressional Budget Office study concluded.

MARKET WATCH: NY market pattern continues; gas prices up, oil down

Thu, 10 May 2012 17:33:00 GMT

The front-month contract for benchmark US crude continued a six-session losing streak in the New York market while natural gas maintained its rally, up 3% on May 9.

EPA seeks more time to issue final NAAQS particle matter rules

Thu, 10 May 2012 16:52:00 GMT

The US Environmental Protection Agency will need at least until Aug. 15, 2013, to finalize new national ambient air quality standards on particle matter, it told a federal court on May 4.

Salazar applauds collaboration, authorizes eastern Utah gas project

Wed, 09 May 2012 20:11:00 GMT

US Interior Sec. Ken Salazar hailed the collaboration that made an agreement possible as he signed the record of decision authorizing Anadarko Petroleum Corp.’s Greater Natural Buttes natural gas project in eastern Utah.

PanAtlantic Energy, formerly Vanco, taps Drennen

Wed, 09 May 2012 18:27:00 GMT

Vanco Overseas Energy Group, Houston, has changed its name to reflect its existing scope of operations and appointed a new president and chief executive officer to lead its deepwater exploration programs offshore Brazil, West Africa, and in the Black Sea.

API's Gerard asks where need is for federal fracing regulations

Wed, 09 May 2012 17:40:00 GMT

The US Department of the Interior and Bureau of Land Management improved their proposed hydraulic fracturing regulations before issuing them on May 4, American Petroleum Institute Pres. Jack N. Gerard acknowledged. But the fundamental question of whether they’re actually necessary remains unanswered, he said on May 9.

WEA study cites lost benefits from delayed Utah, Wyoming projects

Wed, 09 May 2012 17:30:00 GMT

Twenty-two proposed Utah and Wyoming oil and gas projects where 44,289 wells would be drilled potentially could annually support 120,905 jobs paying $8 billion in wages, generate $27.5 billion of economic activity, and produce $139 million of government revenue, a study funded by the Western Energy Alliance concluded.

MARKET WATCH: Crude oil price declines for fifth straight session

Wed, 09 May 2012 16:51:00 GMT

Crude oil prices continued falling for the fifth consecutive session, with the front-month contract down 1% May 8 in a mixed New York futures market amid suggestions Saudi Arabia may release more oil to help reduce prices.

Marathon to buy private Eagle Ford producer

Wed, 09 May 2012 13:33:00 GMT

Marathon Oil Corp. will buy Eagle Ford shale play participant Paloma Partners II LLC, Houston, for $750 million, Paloma Partners said.

Abundant oil doesn't mean energy independence, SAFE report warns

Tue, 08 May 2012 16:46:00 GMT

Abundant US oil resources made possible by new technology potentially will provide significant economic benefits to the nation, but won’t make the country energy independent by itself, a new report from Securing America’s Future Energy’s Energy Security Leadership Council concluded.

Srivastava named CMD of Oil India Ltd.

Tue, 08 May 2012 16:30:00 GMT

Sunil Kumar Srivastava has been named chairman and managing director (CMD) of state-owned Oil India Ltd. of New Delhi.

MARKET WATCH: European woes, lagging demand lower oil prices

Tue, 08 May 2012 15:48:00 GMT

Crude oil prices tumbled again May 7 for the fourth consecutive session, down 0.6% for the day in New York as Euro-zone politics and economics roil and market fundamentals soften.

Colorado: Sand Wash Niobrara program to start

Tue, 08 May 2012 14:44:00 GMT

Quicksilver Resources Inc., Fort Worth, said it expects to begin an exploratory drilling program of as many as seven vertical and horizontal wells later this month in the Sand Wash basin of northwestern Colorado.

MarkWest Energy Partners to acquire Keystone Midstream

Mon, 07 May 2012 21:24:00 GMT

MarkWest Energy Partners LP agreed to acquire 100% of Keystone Midstream Services LLC for $512 million in a transaction expected to close during this year’s second quarter.

MARKET WATCH: Politics, the economy pull down energy prices

Mon, 07 May 2012 17:47:00 GMT

Energy prices fell sharply May 4 with the front-month contract for benchmark US light, sweet crude closing below $100/bbl in New York for the first time since early February.

New Orleans judge sets early-2013 trial date for Macondo incident

Mon, 07 May 2012 16:48:00 GMT

A New Orleans judge has scheduled an early-2013 trial date to hear liability claims for the April 2010 blowout of BP PLC’s deepwater Macondo well and the subsequent explosion and fire on Transocean Ltd.’s Deepwater Horizon semisubmersible.

Chesapeake to name nonexecutive chairman; McClendon continues as CEO

Mon, 07 May 2012 05:00:00 GMT

Chesapeake Energy Corp. said its board will name an independent, nonexecutive chairman, as well as renegotiate the terms of the company's Founder Well Participation Program (FWPP) with Chairman and Chief Executive Officer Aubrey K. McClendon.

OGJ Newsletter

Mon, 07 May 2012 05:00:00 GMT

International News for oil and gas professionals

OTC: BSEE director calls for industry to promote safety culture

Mon, 07 May 2012 05:00:00 GMT

The industry needs to internalize a robust safety culture to help the US Bureau of Safety and Environmental Enforcement do its job, BSEE Director James A. Watson told delegates Apr. 30 at the Offshore Technology Conference in Houston.

OTC: BP to invest $4 billion in Gulf of Mexico this year

Mon, 07 May 2012 05:00:00 GMT

BP PLC has five offshore rigs operating in the Gulf of Mexico, which is the same number as it had before the April 2010 deepwater Macondo well blowout, a BP executive told an Apr. 30 breakfast audience at the Offshore Technology Conference in Houston.

Watching Government: Wigley sees 2012 opportunities

Mon, 07 May 2012 05:00:00 GMT

It was Tim Wigley's first Washington call-up as the Western Energy Alliance's president, and he liked what he saw.

EPA releases draft permitting guidance for diesel fuel in fracing

Fri, 04 May 2012 21:32:00 GMT

The US Environmental Protection Agency released draft underground injection control (UIC) program permitting guidance for Class II wells that use diesel fuel during hydraulic fracturing.

TransCanada submits new Keystone XL permit application

Fri, 04 May 2012 19:12:00 GMT

TransCanada Corp. has submitted a new Presidential Permit application to the US Department of State for its Keystone XL Pipeline from the US-Canada border in Montana to Steele City, Neb. TransCanada will supplement that application with an alternative route in Nebraska as soon as that route is selected.

MARKET WATCH: Fading economy brings down oil prices

Fri, 04 May 2012 17:31:00 GMT

Oil prices continued to tumble May 3 with front-month crude down 2% in the New York market among growing evidence of a weakening economy around the globe. On the brighter side, the front-month natural gas contract rebound, up 3% May 3 after a bullish inventory report (OGJ Online, May 3, 2012).

DOI releases draft fracing rules for onshore public, tribal lands

Fri, 04 May 2012 16:49:00 GMT

The US Department of the Interior released its long-awaited proposal to regulate exploration and development of unconventional oil and gas resources on onshore public and tribal lands.

MARKET WATCH: Energy prices fall in weakening market

Thu, 03 May 2012 17:57:00 GMT

Energy prices generally fell across the board May 2 as markets came under pressure from weak economic data from both the US and Europe.

OTC: Government regulations won't eliminate risks, panelists say

Thu, 03 May 2012 17:46:00 GMT

Congressional subcommittee urged not to duplicate state frac regulations

Thu, 03 May 2012 17:21:00 GMT

Ultra further cuts spending, boosts production

Thu, 03 May 2012 16:08:00 GMT

The board of Ultra Petroleum Corp., Houston, has approved a further $100 million reduction in the previously approved $925 million capital budget for 2012 in light of continued deterioration in natural gas prices, but the company still expects its production to increase on the year.

Brookings study urges no government action on LNG exports

Thu, 03 May 2012 16:00:00 GMT

US policymakers should not enact legislation or regulations that would either promote or limit additional exports of LNG from the US, a Brookings Institution study issued on May 2 concluded.

OTC: BP to invest $4 billion in Gulf of Mexico this year

Wed, 02 May 2012 17:46:00 GMT

Chesapeake to name nonexecutive chairman; McClendon continues as CEO

Wed, 02 May 2012 17:38:00 GMT

Chesapeake Energy Corp. said its board will name an independent, nonexecutive chairman, as well as renegotiate the terms of the company’s Founder Well Participation Program (FWPP) with Chairman and Chief Executive Officer Aubrey K. McClendon.

MARKET WATCH: Crude prices climb in mixed markets

Wed, 02 May 2012 17:30:00 GMT

The price for front-month crude climbed 3.8% May 1 in the New York market, boosted by an equity market rally that saw the Dow Jones Industrial Average hit a 4-year high.

Appalachian basin producers recommend shale operating standards

Wed, 02 May 2012 15:03:00 GMT

The Appalachian Shale Recommended Practices Group (ASRPG), a consortium of 11 of the Appalachian basin’s largest natural gas and oil producers, issued a set of recommended standards and practices for exploration and production of natural gas and oil from Appalachian shales.

OTC: Operators assess advances in offshore drilling risk management

Tue, 01 May 2012 21:46:00 GMT

Total installs diverter on leaking Elgin G4 wellhead platform

Tue, 01 May 2012 19:23:00 GMT

Total UK Ltd. has installed a diverter on the G4 well to divert leaking nature gas away from the Elgin wellhead platform in the North Sea, ensuring no gas accumulates around the wellhead or the platform.

MARKET WATCH: Oil prices dip under economic pressures

Tue, 01 May 2012 17:37:00 GMT

Oil prices slipped lower Apr. 30 on discouraging US economic data and news that Spain is again in double-dip inflation, but natural gas rose 4.5% in the New York market on forecasts for cooler weather next week.

EPA Region 6 chief resigns over 2010 'crucifixion' remark

Tue, 01 May 2012 17:18:00 GMT

Al Armendariz, the US Environmental Protection Agency’s Region 6 administrator in Dallas, resigned effective Apr. 30 after apologizing 4 days earlier for a 2010 videotaped remark comparing his enforcement philosophy to an ancient Roman army invading a village and crucifying a few leaders to bring everyone else into line.

OTC: BSEE director calls for industry to promote safety culture

Tue, 01 May 2012 16:53:00 GMT

Delta Air Lines to buy Trainer refinery from Phillips 66

Tue, 01 May 2012 16:31:00 GMT

A Delta Air Lines Inc. subsidiary has agreed to buy the 185,000-b/d Trainer, Pa., refinery near Philadelphia from Phillips 66 Co. for $180 million, the companies reported Apr. 30.

Denbury to buy Gulf Coast Thompson oil field

Tue, 01 May 2012 13:24:00 GMT

Denbury Resources Inc., Plano, Tex., has agreed to buy Thompson field in Fort Bend County, Tex., from a private seller for $360 million cash and a production payment. Closing is expected in early June.

MARKET WATCH: US crude continues rally in mixed markets

Mon, 30 Apr 2012 17:37:00 GMT

Benchmark US light, sweet crude continued its moderate rally in New York while North Sea Brent dipped slightly in mixed markets Apr. 27.

Centrica closes Norwegian shelf acquisitions

Mon, 30 Apr 2012 14:55:00 GMT

Centrica has closed separate acquisitions from Statoil and ConocoPhillips of major Norwegian Continental Shelf oil and gas interests.

Shell to hike compression at Philippines Malampaya

Mon, 30 Apr 2012 13:53:00 GMT

Shell has let a $30 million contract to Rolls-Royce to supply two industrial RB211 gas turbines to boost gas output from Malampaya deepwater natural gas field offshore the Philippines.

Energy Transfer Partners to acquire Sunoco

Mon, 30 Apr 2012 13:34:00 GMT

Energy Transfer Partners LP has signed a definitive merger agreement to acquire Sunoco Inc. in a unit and cash transaction valued at $5.3 billion.

CSB expects to issue final Macondo report in early 2013

Mon, 30 Apr 2012 05:00:00 GMT

The US Chemical Safety Board is moving ahead with its investigation of the Macondo deepwater well blowout, explosion, and fire and expects to complete its final report in early 2013, it announced this month on the second anniversary of the incident.

DOJ announces first criminal charges in Macondo investigation

Mon, 30 Apr 2012 05:00:00 GMT

A former BP PLC engineer was arrested on charges of intentionally destroying evidence sought by federal criminal authorities investigating the 2010 Macondo deepwater well incident and subsequent oil spill, US Atty. Gen. Eric H. Holder announced.

BP agrees to pay $7.8 billion in Macondo settlements

Mon, 30 Apr 2012 05:00:00 GMT

BP PLC agreed to pay $7.8 billion in settlement agreements with the Plaintiffs' Steering Committee (PSC) to resolve most of the private economic loss, property damage, and medical claims stemming from the Macondo well blowout.