Marathon buys $3.5 billion stake in shale play
The Houston-based company is buying big into the shale boom that’s driving much of the industry — paying a record-setting price to double its acreage in South Texas’ Eagle Ford play. More »
Bureaucratic rift stalls Alaska well
A proposed bridge and pipeline in the remote reaches of Alaska are highlighting the obstacles facing the Obama administration in its push to produce oil production in ecologically sensitive regions. (Via W$J) More »
Massey, Alpha investors approve $7.1B deal
After shareholders overwhelmingly approved the takeover, Alpha immediately began absorbing its struggling rival — replacing the Massey’s sign on its West Virginia headquarters and filing documents with the SEC to cancel Massey shares after the deal closed. More »
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Natural gas execs: Regulation of fracturing best left in state hands
Energy company executives insisted today that because of geologic differences, states — not the feds — should take the lead in regulating the process used to produce natural gas from shale formations nationwide. More »
Dow burns plastics to create fuel, reduce landfill use
The chemical company says it can incinerate scraps of plastic used for food packaging and turn them into fuel to power some of its machinery. More »
Lights out at FERC
The agency responsible for overseeing the reliability of the U.S. electric grid shut its Washington, D.C., headquarters today because it had no power. More »
Oil settles below $101 on weak economic data
Crude prices slipped 2.4 percent after economic reports showed motorists buying less fuel, private employers adding fewer jobs than expected and U.S. manufacturing growth slowing dramatically. More »
Rowan orders two $605M drillships
The Houston-based driller is purchasing its first two drillships to work in up to 12,000 feet of water and has an option to order a third from Hyundai Heavy Industries. More »
Bill Clinton: Methane capture could be ‘goldmine’ in global warming fight
Politicians may need years to work out a way to limit the carbon dioxide produced by burning fossil fuels, so it would cheaper and quicker to focus on gases such as methane first, Clinton said at a meeting of mayors from the world’s largest cities in Brazil today. More »
Feds say Anadarko’s on the hook for spill liability
The Woodlands-based Anadarko has a 25 percent stake in the failed Macondo well and should be liable for fines and damages under U.S. pollution laws, argue U.S. lawyers. More »
Feds approve 15th post-ban deep-water drilling project *updated*
Federal regulators today gave BHP Billiton the green light to drill a new development well in the Gulf of Mexico, marking the 15th approval for a project blocked by last year’s deep-water drilling ban. In response, Sen. David Vitter, R-La., said he would stop blocking a White House nominee over the issue. More »
FuelFix Q&A: Marathon says Eagle Ford purchase worth the price
At nearly $25,000 per acre, Marathon’s deal to buy 141,000 acres in the Eagle Ford shale from a Hilcorp/KKR venture may seem a bit rich. But as Marathon CEO Clarence Cazelot notes, “not all acres are created equal.” More »
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