OKLAHOMA CITY (AP) — Oil and gas exploration company Devon Energy Corp. is selling some U.S. oil and gas properties to Linn Energy LLC for $2.3 billion.
The properties include those in the Rockies, onshore Gulf Coast and Mid-Continent region, Devon said on Monday. The sale is part of a transformation plan the company announced late last year in which it was looking to sell non-core assets. The properties being sold to Linn Energy produced 275 million cubic feet of natural gas equivalent per day, with proved reserves of 1.242 trillion cubic feet of gas equivalent.
ALBANY, N.Y. (AP) — New York's top court handed a victory to opponents of hydraulic fracturing for natural gas Monday by affirming the right of municipalities to ban the practice within their borders.
The state Court of Appeals affirmed a midlevel appeals court ruling from last year that said the state oil and gas law doesn't trump the authority of local governments to control land use through zoning.
The two "fracking" cases from two central New York towns have been closely watched by drillers hoping to tap into the state's piece of the Marcellus Shale formation and by environmentalists who fear water and air pollution.
JERUSALEM (AP) — One of the developers of a natural gas field off Israel's Mediterranean coast on Sunday said it has signed a letter of intent to provide gas to a facility in Egypt.
Delek Drilling said it is negotiating a deal to provide seven billion cubic meters of natural gas from the offshore Leviathan gas field to British company BG's plant in Idku, Egypt, through an underwater pipeline annually for 15 years.
An industry official familiar with the deal said it could be valued at about $30 billion — which would be the largest energy deal in Israel's history. He spoke on condition of anonymity because he was not authorized to comment on the deal.
Energy producer Encana has agreed to sell its Bighorn holding in Canada for about $1.8 billion to another Canadian company, the privately held Jupiter Resources.
Encana said Friday the sale includes about 360,000 acres of land in Canada with total net proved reserves of about 1.1 trillion cubic feet equivalent, mostly natural gas. It also includes Encana's working interests in all pipelines, facilities and service arrangements.
HYDERABAD, India (AP) — A state-owned gas pipeline exploded and burst into flames Friday, killing at least 14 people, destroying homes and forcing the evacuation of neighboring villages in the southern Indian state of Andhra Pradesh, authorities said.
Flames rose more than 80 feet (25 meters) into the air, scorching the tops of coconut and palm trees and sending dense black clouds of smoke into the sky, witnesses said. Villagers ran out of their homes and crowded the streets. Scores of houses and shops were gutted, officials said.
Changes the Department of Energy is proposing to the way LNG export permits are handled will cause more delays and “regulatory uncertainty,” according to comments the American Petroleum Institute filed with DOE, FuelFix reports.
Environmentalists concerned about fish kills at the Indian Point nuclear plant on New York’s Hudson River are raising just a few of the questions being discussed as the state’s Department of Environmental Conservation opened hearings on renewing water quality permits for the facility, The New York Times reports.
Transportation Secretary Anthony Foxx on Wednesday will announce new rules covering oil train safety, sources told The Wall Street Journal, which says the plan that has railroads concerned about possible speed restrictions and oil companies worried about limits on tank car volumes.
TransCanada, the company that hopes to build the Keystone XL pipeline, has spent far more on lobbying this year than it did at the same point last year, and the American Petroleum Institute has spent somewhat more as well, E&E reports.
Just weeks after signing a joint venture agreement, partners working on a natural gas project on Alaska’s North Slope have filed with the Department of Energy for an export license that would give them permission to send up to 20 million metric tons of LNG a year to countries with and without free trade agreements with the U.S., Platts reports.
A joint venture between Exxon Mobil and state-owned oil company Rosneft to look for oil off the coast of European Russia appears to be going ahead as planned despite the downing of a Malaysia Airlines plane in Ukraine, The New York Times reports.
A measure that would block tankers from loading crude -- including Canadian tar sands oil -- in the port of South Portland, Maine, won approval from the local council Monday night, over the opposition of the Portland Pipe Line Corp., the Portland Press Herald reports.
On the downside of Pennsylvania’s gas drilling boom, an understaffed, unprepared Department of Environmental Protection has failed to follow up on reports of contamination, hasn’t forced drillers to deal with tainted water, and has used an inspection policy that’s a quarter of a century old, according to a report from the state’s Auditor General Eugene DePasquale, Bloomberg reports.
A spokesman for Libya’s National Oil Corporation said the country’s output dropped from around 555,000 barrels per day Thursday to 450,000 barrels per day Monday as fighting in Tripoli was continuing and conflict in Benghazi escalating, Reuters reports.
It will take years to improve the natural gas pipeline infrastructure to free the Northeast and Mid-Atlantic states from winter spikes in electricity prices, according to an analysis from a unit of N.Y. utility Consolidated Edison, Platts reports.