NEW ORLEANS (AP) — High bids from Freeport-McMoRan Oil & Gas LLC made up more than one-third of the $850.8 million total at Wednesday's federal oil lease sale for the central Gulf of Mexico. It also was the first sale since the government said BP PLC can again secure federal contracts; the company made $41.6 million in high bids.
Freeport-McMoRan's 16 high bids totaled $321.4 million, including the day's biggest — $68.8 million — and six of the 10 highest, according to the federal Bureau of Ocean Energy Management.
Faced with residents' opposition to fracking and to Occidental Petroleum's plans to drill more than 200 wells in the area, the Carson City Council has voted to put a hold on everything for 45 days while it studies safety and the extent of its own authority, the Los Angeles Times reports.
LANSING, Mich. (AP) — A measure aimed at encouraging a type of oil drilling using carbon dioxide cleared the Michigan Senate Wednesday as nearly all Republicans backed a process that has divided environmental groups.
The tax cut proposal senators approved 25-13 is the last in a four-bill package that lowers the severance tax for drilling projects involving carbon dioxide. The legislation would allow oil and gas companies to construct carbon dioxide pipelines and would expand their authority to build them on private property.
CHEBOYGAN, Mich. (AP) — Representatives of two energy companies that are accused of colluding to keep bids low on oil and gas leases have appeared in a northern Michigan court to face criminal charges.
Michigan Attorney General Bill Schuette announced March 5 that he filed antitrust charges against Chesapeake Energy Corp. and Encana Corp.
ST. LOUIS (AP) — Voters in a struggling southern Illinois county have rejected a ballot referendum meant to pressure the county's governing board to restrict a debated oil drilling practice, leaving open the question of whether the measure failed because of confusion or the prevailing need for jobs.
With nearly half of the county's registered voters casting ballots during spring primaries traditionally marked by low turnout, the measure involving hydraulic fracturing, or fracking, failed Tuesday by a 600-vote margin, Johnson County Clerk Robin Harper-Whitehead said.
The Interior Department Wednesday announces the high bidders for the latest batch of offshore drilling leases in the Gulf of Mexico, from bids by 42 oil and gas companies, including BP, FuelFix reports.
JERUSALEM (AP) — The Palestinian Authority on Tuesday announced plans to explore for oil in the West Bank, throwing a new element of uncertainty and confusion into troubled U.S.-backed peace efforts.
The Palestinians proclaimed the project, close to a small oil field in Israel in which an Israel firm is drilling, a key step toward their dream of developing the local economy and gaining independence in the West Bank. But Israel, which wields overall control of the area, gave no indication it has agreed to the plan.
Oil continues to wash up on some Louisiana beaches four years after the Deepwater Horizon sinking sent oil gushing into the Gulf of Mexico and a number of area residents remain angry and resentful despite BP paying out billions of dollars in compensation, Reuters reports.
Environmental Protection Administrator and Boston native Gina McCarthy and Energy Secretary Ernest Moniz will throw out the first pitches at the Red Sox game Tuesday, to mark Earth Day, The Hill reports.
A subsidiary of American Energy Partners, the company run by shale pioneer Aubrey McClendon, is renting seven rigs from his former firm Chesapeake Energy to drill for gas in the Utica Shale, Bloomberg reports.
The total U.S. rig count for the week remained at 1,831, according to oilfield services company Baker Hughes Inc., which said that oil rigs declined while gas and miscellaneous rigs increased, Bloomberg reports.
Vermont Yankee owner Entergy has applied to scrap the 10-mile emergency planning zone around it, because of the nuclear plant's closing by year's end, raising concerns from citizen groups, The Recorder reports.
Critics complain that proposals to increase security of the nation’s power grid, drafted by the industry in the wake of an attack on a California substation last year, won’t do enough to stop anyone intent on sabotage, The Wall Street Journal reports.