Coal and oil and gas producer Consol has agreed to sell its Consolidation Coal Company subsidiary, which holds five West Virginia coal mines, to Murray Energy for $3.5 billion. Consol aims to whittle its assets down to growth markets – natural gas production and coal for export – as the future of US power generation veers more… Keep reading →
The results of Chevron’s initial exploration in the Kaybob area of the Duvernay play in Alberta, Canada show liquid yield from completed wells in the 30-70% range, with initial production rates of as much as 7.5 million cubic feet of natural gas and 1,300 barrels of condensate per day. [Chevron] China National Offshore Oil Corp… Keep reading →
US independents Anadarko and Noble Energy have agreed to exchange around 50,000 net acres of leasehold in the Wattenberg field in northeastern Colorado. US independent Devon and midstream company Crosstex have agreed to combine Crosstex’s assets and Devon’s midstream assets to form a new midstream business, which remains unnamed for the time being. Devon is… Keep reading →
The US became a net-exporter of oil products like gasoline and diesel fuel in 2011 for the first time since 1949 and oil product exports have steadily increased since that point. US refiners found a new lease on life – after several East Coast refinery closures – by purchasing Bakken crude at a discount to… Keep reading →
By: Jackie DeAngelis Chevron is strategically investing in the Gulf of Mexico, spending almost $12 billion and boosting its labor force as it prepares to launch two deep-water platforms now under construction. The platforms, Jack St. Malo and Big Foot, are named after the fields where they are located. They’re both being assembled at the… Keep reading →
The Center for Biological Diversity is accusing the Obama Administration of violating a 19th-century law by allowing oil and gas companies to continue drilling on public lands that are now closed to other visitors during the government shutdown. “Previously permitted oil and gas development on public lands isn’t affected by the shutdown.” [Fuel Fix] An… Keep reading →
Jellyfish in the cooling water intake have forced the shutdown of Sweden’s largest nuclear reactor, which generates about 10% of the country’s electricity. As bizarre as this sounds, jellyfish have caused problems at power plants in several countries, including the US. [CNN] Malaysian Prime Minister Najib Razak said that state-controlled energy company Petronas is going… Keep reading →
Japan’s Tohoku Electric Power Company has agreed to buy 0.9 million tons per annum of LNG for 20 years from the 8.9 mtpa, Chevron-operated Wheatstone LNG project in Australia. Other committed buyers for Wheatstone production include TEPCO, Kyushu Electric Power Company and Chubu Electric Power Company. First LNG is scheduled for 2016. US independent Apache completed… Keep reading →
Expect the promised benefits of natural gas to really begin hitting the North American economy in the second half of this decade, said Chevron Vice President of Supply and Trading Greg Vesey at the North American Gas Forum in Washington, DC this week. It will take two to three years to complete construction of manufacturing… Keep reading →
Here is a roundup of some of this week’s more interesting energy deals: The BP-led Shah Deniz consortium signed a 25-year sales agreement for more than 10 billion cubic metres per year of natural gas from the second phase of development at the giant Shah Deniz field offshore Azerbaijan. Shah Deniz will deliver gas directly… Keep reading →
