Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of Calgary-based Encana Corp., has agreed to sell its DJ basin assets in Colorado to a new entity 95% owned by Canada Pension Plan Investment Board and 5% by Broe Group, Denver, for $900 million. Source: News
Statoil reports oil spill near Statfjord A platform in North Sea
Statoil ASA reported an oil spill in the North Sea estimated at 40 cu m during loading from the Statfjord A platform to the Hilda Knutsen tanker. Source: News
White House issues veto threat as House crude export ban vote nears
The White House said senior advisors would recommend that US President Barack Obama veto a House bill to remove restrictions on exports of domestically produced crude oil if the measure reached his desk. “Legislation to remove crude export restrictions is not needed at this time,” the Office of Management and Budget said in a formal […]
Gas processors seek more time to comment on proposed EPA methane rules
The Gas Processors Association has requested more time to comment on four proposed rules covering methane emissions from oil and gas operations. The Tulsa trade association asked for 60 additional days beyond the Nov. 17 deadline EPA established when it announced the proposed requirements on Sept. 18. Source: News
Gulfport, Rice Energy form Utica midstream joint venture in Ohio
Gulfport Energy Corp. and Rice Midstream Holdings LLC, a wholly owned subsidiary of Rice Energy Inc., announced plans to form a midstream joint venture to develop natural gas gathering and water services assets to support dry gas development in the Ohio counties of Belmont and Monroe. Source: News
MARKET WATCH: NYMEX oil prices whipsaw, ending lower after inventory gain
Light, sweet crude oil prices for November delivery dropped about 70¢/bbl to close under $48/bbl on the New York market Oct. 7, ending a 3-day rally after a weekly US government report showed a gain in the oil and product inventory. Source: News
Social media key to winning project support, new INGAA chairman says
Better use of social media has become essential for natural gas transmission companies to win public support for proposed pipeline projects, the Interstate Natural Gas Association of America’s incoming chairman said. Source: News
AWE-led venture tests gas in Perth basin
The AWE Ltd.-operated joint venture with Origin Energy Ltd. has tested a significant flow of natural gas from its Waitsia-1 well in production licenses L1/L2 in the north Perth basin onshore Western Australia. Source: News
WoodMac: Near-term financial risks exaggerated for US independents
The high-growth business models of US independent operators are being tested by low oil prices and tougher access to capital. But two recent Wood Mackenzie Ltd. reports concluded that concerns surrounding October reserves-based lending (RBL) redeterminations have been exaggerated. Source: News
North American producers’ hedge cover to fall
Exposure of North American oil and gas producers to low oil prices will increase in 2016, according to IHS. Source: News