The New Hampshire Supreme Court denied ExxonMobil Corp.’s appeal of a lower court’s $236 million award to the state in a lawsuit charging groundwater contamination from the company’s use of methyl tertiary butyl ether as a gasoline oxygenate additive in the 1980s. Source: News
Targa, Sanchez Energy form Eagle Ford gas JV
Targa Resources Partners LP and Sanchez Energy Corp. have agreed to form joint ventures that will construct a 200-MMcfd cryogenic natural gas processing plant in La Salle County, Tex., and 45 miles of high-pressure gathering pipelines that will connect Sanchez Energy’s Catarina gathering system to the plant. Source: News
Federal, state governments settle Macondo spill civil claims with BP
The US government as well as the governments of five states reached a proposed $20.8-billion settlement with BP PLC to resolve civil claims arising from the 2010 Macondo deepwater well blowout and subsequent crude oil spill into the Gulf of Mexico. It was the largest such settlement with a single entity in US history, the […]
5 Oct 2015 16:00:00 EDT – The latest stock information is now available for your stocks
XOM Last 76.81 Change +0.93 % Change 1.23% Volume 18,318,950 As of: 5 Oct 2015 16:00:00 EDT View: Stock Quote | News CVX Last 84.03 Change +2.48 % Change 3.04% Volume 14,131,795 As of: 5 Oct 2015 16:00:00 EDT View: Stock Quote | News COP Last 52.98 Change +1.79 % […]
Statoil buys stake in Alfa Sentral license
Statoil ASA has purchased a 24% interest in the license containing the UK section of transborder Alfa Sentral natural gas and condensate field in the North Sea and expects unitization negotiations to begin soon. Source: News
SandRidge to acquire West Texas gathering company
SandRidge Energy Inc., Oklahoma City, has agreed to acquire Pinon Gathering Co. LLC, Houston, from EIG Global Energy Partners for $48 million cash and $78 million of its 8.75% senior secured notes due 2020. The deal is expected to close in the fourth quarter. Source: News
SEC submits schedule to implement foreign payments disclosure rule
The US Securities and Exchange Commission outlined an expedited rulemaking schedule aimed at voting on a final rule by June 27, 2016, requiring US oil, gas, and mining companies to report payments made to foreign governments. Source: News
MARKET WATCH: NYMEX oil prices for November climb back above $45/bbl
Light, sweet crude oil prices for November delivery regained some strength in late Oct. 2 trading, settling back above $45/bbl after Baker Hughes Inc. reported the number of active US drilling rigs dropped to the lowest level in years. Source: News
Production begins from Bonga Phase 3 offshore Nigeria
Shell Nigeria Exploration & Production Co. Ltd. (SNEPCo) has started production offshore Nigeria from the Bonga Phase 3 project, an expansion of the Bonga Main development. Source: News
The option to wait
While the oil and gas industry can trust currently cruel conditions of the oil market not to last forever, it must adapt to a fundamental change certain to reshape decision-making. Source: News