Royal Dutch Shell has agreed to sell drilling rights in shale formations in Louisiana and Wyoming for $2.1 billion in two transactions.
In one of the deals, announced Thursday, Shell will also receive drilling rights to land in Ohio and Pennsylvania.
Shell is working to focus its onshore U.S. drilling program on a few of the more prolific formations in an effort to boost profitability. The company wrote down the value of its shale acreage in the U.S. by $2.1 billion last year amid lower natural gas prices.
Analysts surveyed by Platts were predicting that Energy Information Administration numbers on last week’s natural gas storage build would come in between 81 and 85 billion cubic feet, which they’ll examine for signals power generators are continuing to switch from coal to gas.
The Texas Railroad Commission, the regulator in charge of the state’s oil industry, has proposed new rules governing the siting of disposal wells. The regulations were crafted by seismologist Craig Pearson, who was hired in April to address mounting concerns over earthquakes, FuelFix reports.
MEXICO CITY (AP) — Mexico's state-owned oil company will retain rights to exploit 83 percent of the country's proven and probable reserves under the newly enacted opening of the energy business, although the company will form alliances with private firms in some of those fields, the government announced Wednesday.
The allocation given to Petroleos Mexicanos, or Pemex, will equal about 2.5 million barrels of oil a day for 20.5 years, Energy Secretary Pedro Joaquin Coldwell said.
"This guarantees that Pemex will have its development secured in the immediate future," Coldwell said. "Pemex will continue being Mexicans' great company."
A county ordinance exempting Dominion Resources’ proposed Cove Point LNG export terminal from zoning laws violates the Maryland’s constitution, according to a ruling from Judge James Salmon, The Associated Press reports.
Stanford University researchers, presenting their work at the American Chemical Society conference in San Francisco Tuesday, said they found that fracking at the Pavillion gas field in Wyoming was taking place through sources of drinking water, although they did not report on any contamination, the Los Angeles Times reports.
HOUSTON (AP) — Texas-based energy company Apache Corp. said it believes the killing of one of its supervisors in the western Egyptian desert in a carjacking was an isolated incident.
Spokesman Bill Mintz wouldn't elaborate Tuesday on how the Houston company made this assessment. He said the slaying was a police matter and that the company was cooperating with investigators.
Security officials in Egypt said the Apache worker's body was found Friday in a car on a road outside Cairo. The man had been shot to death as he was driving last Wednesday in the desert between Qarun and Karama, southwest of Cairo.
The Environmental Protection Agency has sent its suggested blending mandate for the long-delayed 2014 Renewable Fuel Standard to the Office of Management and Budget without dropping hints about what’s in the proposal, which will now be reviewed by the White House and other federal agencies, and Platts suggests a final decision may not even be made public until after the November election.
Even with Russia sending a convoy of trucks into Ukraine Friday, oil prices continued to decline as there’s been no evidence of any disruption in supply. U.S. benchmark crude for October delivery slipped 31 cents to settle at $93.65 a barrel on the Nymex, a drop of 3.9 percent on the week, while in London Brent crude ended 34 cents lower at $102.29, Reuters reports.
The non-profit group Sky Truth has created a global interactive map displaying natural gas flaring – in the U.S. showing concentrated activity in the Bakken, Eagle Ford and Marcellus Shale plays -- while environmental advocate Earthworks has released a report entitled Up in Flames that contains extensive statistics, stating, for example, that flaring in the Bakken increased five-fold between 2010 and 2013, according to National Journal.
Approval for power transmission projects like Gateway West and the TransWest Express is taking the federal government far too long, Wyoming Infrastructure Authority chairman Mike Easley told Energy Secretary Ernest Moniz Thursday, The Associated Press reports.
California territory in “severe” drought dropped slightly to 97.5 percent this week due to above normal rainfall in the south, but that hasn’t helped boost low reservoir levels, the Los Angeles Times reports.
Lawyers for the Kurdistan Regional Government appeared before U.S. District Judge Gray Miller Friday, asking him to throw out a previous order from a magistrate -- which had been issued at the behest of the Iraqi government -- allowing U.S. marshals to seize any crude unloaded from a tanker that's been anchored off Galveston for weeks, FuelFix reports.
According to filings with the Federal Election Commission this week, NextGen Climate Action Committee took in $8 million in July but $7.5 million of that came from founder Tom Steyer, Politico reports.
The California Senate approved and sent to Governor Jerry Brown a bill to streamline the solar permit process, intended to make it easier and quicker for homeowners to get solar power installations up and running, according to LBReport.com.
A burdensome approval process and delays in the city’s Department of Water and Power in getting customers hooked up to the grid is putting a damper on solar power installations in L.A., the Los Angeles Times reports.