BP has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
The lawsuit filed in Los Angeles is at least the fourth proposed class-action against Plains since the May 19 spill blackened beaches and spread oil at least 100 miles. Beaches and campgrounds were closed, fishing was prohibited nearby, and nearly 300 dead marine mammals and birds have been found.
Oil- and gas-producing counties will get to keep a narrow slice of the mineral wealth that’s generated under their property, under a bill recently signed by the governor. The bill will let the counties keep royalty payments for the minerals produced under county lands — essentially the county road system, which has been badly battered […]
The AEE report claimed that the existing and planned natural gas infrastructure can handle the increased demand created by the so-called, federal Clean Power Plan, which would lead to the further reduced reliance on coal power.
Energy Future filed its $42 billion bankruptcy last year with a plan to break itself in two, giving each part to different sets of creditors. Groups that felt left out of that proposal have been fighting since then.
Noble Energy may soon be able to re-start work on two major gas fields in Israel after a committee of top ministers on Thursday approved a plan promoting the development of the country’s offshore natural gas fields. The Houston-based company halted its investment in Israel after the country’s antitrust regulator refused to finalize a deal […]
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