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Occidental to Spin-Off California Assets
“Rigzone” reports that Occidental Petroleum Corp.’s board has approved a plan to form a separate unit, California Resources Corp., which will hold all Occidental’s oil and gas assets in the state. The new entity would be owned by Occidental shareholders and would be the largest natural gas producer in California. Wall Street analysts speculate that… Read More
Water Recycling Success in Eagle Ford
The good news is that recent studies by the Department of Energy and others indicate that fracking, per se, does not contaminate aquifers. However, the practice does require significant amounts of water for use as a fracking fluid. Disposal of fracking fluids can also present a problem. An obvious solution would be the purification of… Read More
Encana to Buy Athalon
“Rigzone” reports that major Canadian natural gas producer, Encana Corp., will purchase Ft. Worth based Athlon Energy Inc. as part of a shift in focus from gas to oil. In the $7.1 billion deal Encana will acquire Athalon’s assets, primarily 140,000 net acres in the Permian Basin of West Texas. The Permian Basin, long a… Read More
Dominion’s Cove Point LNG Export Facility Approved
“Rigzone” reports that the Federal Energy Regulatory Commission (FERC) has approved Dominion Resources Inc.’s Cove Point, Maryland, Liquefied Natural Gas (LNG) export project. The proposed facility will cost between $3.4 and 3.8 billion dollars and will have a capacity of 5.75 million metric tons per year. Dominion has already secured markets for total output via… Read More
Total to Sell Interest in Utica Shale Gas Transport
“Rigzone” reports that French oil major, Total, will sell its 25% stake in Cardinal Gas Services, a pipeline transporting Utica shale gas in Ohio. A consortium of South Korean entities will pay $450 million for the interest, and Cardinal will continue to provide gas gathering and transportation services to Total. The French company will retain… Read More
