Statoil ASA has purchased a 24% interest in the license containing the UK section of transborder Alfa Sentral natural gas and condensate field in the North Sea and expects unitization negotiations to begin soon. Source: News
SandRidge to acquire West Texas gathering company
SandRidge Energy Inc., Oklahoma City, has agreed to acquire Pinon Gathering Co. LLC, Houston, from EIG Global Energy Partners for $48 million cash and $78 million of its 8.75% senior secured notes due 2020. The deal is expected to close in the fourth quarter. Source: News
SEC submits schedule to implement foreign payments disclosure rule
The US Securities and Exchange Commission outlined an expedited rulemaking schedule aimed at voting on a final rule by June 27, 2016, requiring US oil, gas, and mining companies to report payments made to foreign governments. Source: News
MARKET WATCH: NYMEX oil prices for November climb back above $45/bbl
Light, sweet crude oil prices for November delivery regained some strength in late Oct. 2 trading, settling back above $45/bbl after Baker Hughes Inc. reported the number of active US drilling rigs dropped to the lowest level in years. Source: News
Production begins from Bonga Phase 3 offshore Nigeria
Shell Nigeria Exploration & Production Co. Ltd. (SNEPCo) has started production offshore Nigeria from the Bonga Phase 3 project, an expansion of the Bonga Main development. Source: News
The option to wait
While the oil and gas industry can trust currently cruel conditions of the oil market not to last forever, it must adapt to a fundamental change certain to reshape decision-making. Source: News
States weigh in on ozone rule
State air quality agencies apparently would appreciate better implementation direction from the US Environmental Protection Agency if it reduces allowable ground-level ozone limits from 75 ppb to a proposed 65-70 ppb range. Source: News
Steady regulations, buyer relationships key successful LNG export projects
A clear regulatory foundation and close relationships with buyers are among the key aspects to successful development of an LNG liquefaction plant. Source: News
West Coast CBR-project legal risks require management
Siting crude-by-rail (CBR) terminals in areas that already have high volatile organic compound (VOC) emissions is among the steps companies can take to reduce the risk of legal action against their construction and operation. Source: News
Low-cost modifications boost capacity, crude processing flexibility
A project design that maximizes use of existing equipment in expanding a refinery’s crude oil processing capacity, and limits equipment additions to only those necessary, improves timelines and yields while reducing costs. Source: News