Natural Gas

Shell sells shale gas rights for $2.1 billion

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 eye power generators in predicting gas storage build

Source: 
Platts

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.

New rules for disposal wells proposed in Texas

Source: 
FuelFix

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.

Oil

Mexico: Pemex gets 83 percent of existing oil reserves

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."

Drillers fail to get permits for fracking with diesel

Source: 
Bloomberg

The Environmental Integrity Project found since 2010, 351 wells were fracked with diesel or its equivalent and the drillers failed to get required permits for doing so, Bloomberg reports.

Md. Judge throws out zoning exemption for Cove Point LNG

Source: 
The Associated Press

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.

Fracking taking place through potential drinking water, say researchers

Source: 
Los Angeles Times

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.

Oil

Texas energy company says worker slaying isolated

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.

Kinder restructuring frees up cash for acquisitions

Source: 
Bloomberg

Richard Kinder’s move to bring together three of Kinder Morgan Inc.’s divisions under one umbrella frees up cash for acquisitions that will likely be rival infrastructure operators, Bloomberg reports.

Pittsburgh airport has high hopes for fracking

Source: 
The New York Times

Debt-ridden Pittsburgh International Airport hopes that revenue from tapping into the Marcellus Shale gas deposits it sits on will give the facility a new lease on life, The New York Times reports.

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