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U.S. Energy Department to Fund $30 Million for Unconventional Oil and Gas Projects
January 8, 2018
The US Department of Energy (DOE) has selected six projects which will receive approximately $30m in federal funding to boost unconventional oil and natural gas recovery. Selected under the Office of Fossil Energy’s (FE’s) Advanced Technology Solutions for Unconventional Oil
Pennsylvania DEP Suspends Construction Work on $2.5 Billion Mariner East 2 Pipeline Project
January 8, 2018
Sunoco Pipeline has been ordered to suspend the work associated with the $2.5bn Mariner East 2 pipeline by the Pennsylvania Department of Environmental Protection (DEP), after finding construction permit violations. The DEP directed the firm to cease all pipeline project
Global Crude Oil Prices Near 2015 Highs on Tight Market Due to Supply Cuts
January 5, 2018
Reuters reported that oil prices were stable with trading activity drying up ahead of the New Year weekend. Heading into 2018, traders said market conditions were relatively tight due to ongoing supply cuts led by the Middle East dominated Organization
Schlumberger Acquires U.S. Hydraulic Fracturing Business of Weatherford for $430 Million
January 5, 2018
A subsidiary of oilfield services company Schlumberger has completed acquisition of the US pressure pumping and pump-down perforating assets of rival Weatherford International for $430m in an all-cash deal. In late March 2017, the oilfield services companies agreed to create
Cabot Oil and Gas to Sell $765 Million Worth Eagle Ford Assets
January 4, 2018
Independent oil and gas company Cabot Oil & Gas will sell Eagle Ford Shale assets to an affiliate of Venado Oil & Gas for $765m as it is looking to pare cost. The company will sell 74,500 acres of Eagle
Inter Pipeline Releases $900 Million Capital Expenditure Program for 2018
January 4, 2018
Inter Pipeline has announced a $900 million capital expenditure program for 2018, with 91 percent of it will be for organic growth initiatives. The remaining $80 million invested for sustaining capital projects. In 2018, the majority of Inter Pipeline’s growth
InterGen to Divest Mexico Assets to Actis for $1.2 Billion
January 4, 2018
InterGen, which is jointly owned by the Ontario Teachers’ Pension Plan and China Huaneng Group/Guangdong Yudean Group, has signed an agreement to divest its portfolio including power generation assets in Mexico to Actis for $1.256bn. Under the terms of the
Italy’s Eni Begins Oil Exploration in Alaska’s Beaufort Sea
January 4, 2018
Italian oil producer Eni has began drilling for oil exploration in the US waters off the north coast of Alaska, following the spudding of a new well in the Beaufort Sea. The spudding of the well follows the Bureau’s approval
Natural Gas Customers in West Virginia Pocket $4.3 Billion Thanks to Marcellus Shale
December 28, 2017
Since the development of Marcellus Shale over the last ten years, the amount that consumers have paid for natural gas in the Mountain State’s homes and businesses has tumbled $4.3 billion (in 2016 dollars) - making Christmas merrier across West
US Steel Signs Lease With Merrion to Develop Marcellus Shale Gas Well at Edgar Thomson Works, Pa.
December 28, 2017
Pennsylvania’s oldest working steel mill could soon have a new type of industrial activity on-site: fracking. US Steel has signed a lease with New Mexico-based Merrion Oil and Gas, to develop a Marcellus shale gas well on the grounds of
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