Natural Gas

Oil

Germany's RWE to sell oil production unit to LetterOne Group

BERLIN (AP) — Germany energy company RWE AG says it plans to sell its oil and gas exploration and production division to LetterOne Group in a deal valuing the business at about 5.1 billion euros ($7.1 billion).

RWE announced last year it had decided to abandon crude oil and natural gas production and was considering options for selling the RWE Dea AG unit. It said then the move would remove pressure on future capital spending and improve its financial situation.

W.Va. environmentalists unhappy with fracking bill

CHARLESTON, W.Va. (AP) — West Virginia environmentalists are concerned about a bill to overturn tonnage caps for landfills accepting gas well drill cuttings from hydraulic fracturing operations.

The House has passed the bill in special session and it now waits Senate action.

Delegate Stephen Skinner, who voted against the bill passed Friday, calls it a Band-Aid on a very serious problem.

Oil

Illinois county to vote over fracking prospects

VIENNA, Ill. (AP) — Officials in southern Illinois' Johnson County will soon learn where their constituents stand on fracking, as voters will signal whether the county should resist efforts to use the contentious extraction method to get at any oil or gas that may be trapped deep underground.

The question of whether to oppose possible efforts to bring hydraulic fracturing to the county has hijacked the County Commission meetings for months and pitted neighbors against one another. And whatever voters decide Tuesday, the issue isn't likely to go away anytime soon.

Alaska Senate Finance panel advances gas line bill

JUNEAU, Alaska (AP) — Alaska would have roughly a 25 percent equity share in a major liquefied natural gas project under a bill advanced by the Senate Finance Committee.

The rewritten bill sets a tax rate at 13 percent of the gross value at the point of production beginning in 2022. That with royalty determines the state's equity share.

The bill would have the Alaska Gasline Development Corp. carry the state's interest in liquefaction and marine terminal facilities, rather than creating a new subsidiary to do that as Gov. Sean Parnell proposed.

EIA: 16 percent of Europe's gas transits Ukraine

Source: 
FuelFix

Sixteen percent of all natural gas used in Europe flows through Ukraine, and the country's pipelines handle at least half of all of the Russian gas that moves on to customers elsewhere in the continent, FuelFix reports.

Oil

US rig count up 17 to 1,809

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. increased by 17 this week to 1,809.

The Houston firm said in its weekly report Friday that 1,461 rigs were exploring for oil and 344 for gas. Four were listed as miscellaneous. A year ago there were 1,776 active rigs.

Gas plant gets preliminary nod in eastern Pennsylvania

WERNERSVILLE, Pa. (AP) — A Canadian company has cleared an early hurdle for its plans to build a plant that would convert natural gas to gasoline, propane and other products.

South Heidelberg Township supervisors on Thursday night gave preliminary approval to the site plan for Calgary-based EmberClear Corp.'s project, The Reading Eagle reported.

Energy Guardian Photo

Landrieu sets her first Energy panel hearing on energy exports

Senate Energy and Natural Resources Chair Mary Landrieu on Friday made good on her pledge to hold the Obama administration's feet to the fire on the pace of natural gas export approvals.

Her first hearing as chair is set for Mar. 25 on energy exports and jobs, the committee announced. Witnesses are to be named later.

Cook Inlet gas platform plans out for review, says Alaska official

Source: 
Platts

Plans for a new natural gas drilling platform to be run by Furie Operating Alaska have gone to public review, according to an official with the state's Division of Oil and Gas, Platts reports.

Rice Energy posts 4Q loss on higher production costs, lower gas output

Source: 
Reuters

Rice Energy Inc., a gas company operating in Pennsylvania's Marcellus Shale that only went public two months ago, has seen its shares slide after it posted a loss in the 4th quarter and reduced its production forecast, Reuters reports.

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