Category: General

Default category

Apache selling Canada assets for $112 million

Apache Corp. said this afternoon it would sell various oil and gas producing properties in Canada in two separate deals worth $112 million.  More »

Drilling plans for San Rafael Swell bring protest

More than 100 people held a rally Monday in Salt Lake City to protest the federal government’s plan to lease 125 square miles of the San Rafael Swell for oil and gas drilling.  More »

Nigeria community rejects Shell compensation offer

Nigeria’s Bodo community in the southern Delta has rejected a compensation offer from Shell for two oil spills in 2008 that devastated the mangrove and fishing area, lawyers and the company said Friday.  More »

Undeveloped oil and gas reserves across the globe worth $760 billion

The U.S. shale revolution opened up leagues of new resources over the past half-decade, but North America’s discovered reserves add up to just 7.6 percent of the world’s untapped potential, according to a Wood MacKenzie report released this week.  More »

Chesapeake Energy shifting from aggression to financial discipline

After years of building a reputation as one of the most aggressive U.S. natural gas giants, Chesapeake Energy is slowing down.  More »

Halcón selling assets for $300 million

Houston’s Halcón Resources Corp. said this week it had inked three separate purchase and sale agreements to sell off “certain non-core conventional assets” in the U.S. for $302 million.  More »

Occidental said to seek offers for stake in Mideast unit

Occidental Petroleum Corp.has begun looking for suitors to take a minority stake in its Middle East unit for as much as $8 billion, said people with knowledge of the matter.  More »

Ex-billionaire’s oil ambitions turn into nightmare for investors

As creditors led by Pacific Investment Management Co. try to salvage what is left of their stake in Eike Batista’s oil ambitions, the specter of ATP Oil & Gas Corp.’s demise underscores how much more they stand to lose.  More »

Valero’s stock drops on project delays

Valero, the nation’s largest independent refiner, said its plan to expand hydrocrackers at its Port Arthur refinery and St. Charles plant in Louisiana would be delayed until 2018 instead of 2015.  More »

Corporate Bets on America: Shortening the Time Horizon or Avoiding Geopolitical Risk?

With war fears still dominating the headlines in the Middle East and the US Federal Reserve slow to end easing, now would seem like a good time to own an oil field coming on line. Global oil prices remain over $100 a barrel with plenty of geopolitical risk around to keep them there at least […]  More »

Keystone XL—A Prisoner of the Worst in Politics

The Obama Administration has been reviewing the permit application to build the Keystone pipeline for over 5 years.  There is now a report that the President is unlikely to make a decision until 2014. The State Department issued its draft findings in March and had been expected to complete its review by mid-summer.  It did […]  More »

Thoughts on 9-11

In 1977, a rag tag group gathered to study Arabic under the tulelage of Dr. Abraham Udovitch, an acclaimed scholar who studied the social and economic life of 11th century Egypt, among other topics.  It proved to be a highly successful group of people: To name a few, a professor of Middle Eastern politics (urbanism, […]  More »

Libya’s oil exports plunge as problems escalate

Libya’s prime minister faced increasing calls for his ouster on Saturday as strikes by government employees at oil export terminals cost the North African country more than $5 billion in losses.  More »

Gastar increasing holdings in Oklahoma’s Hunton play

Houston’s Gastar Exploration said this week that it will spend $187.5 million to buy an interest in land in the Hunton play of Oklahoma.  More »

Shell to pay $1.1 million in fines to settle with EPA over Arctic drilling

In a settlement with the federal government announced late Thursday, Shell Oil Co. will pay $1.1 million in fines to settle claims that it violated air pollution permits while drilling in U.S. Arctic waters last year.  More »