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United States M&A activity for upstream oil and gas deals set records in 2011 for both deal values and deal counts, according to PLS, Inc., a provider of information, marketing and advisory services for the oil and gas industry. We expect continued strong activity in oil and liquids-rich resource plays in 2012. —Ronyld W.
Exxon Mobil Corporation is acquiring XTO Energy Inc. The agreement, which is subject to XTO stockholder approval and regulatory clearance, will enhance ExxonMobil’s position in the development of unconventional natural gas and oil resources. in an all-stock transaction valued at $41 billion.
million for the creation of two new Biomass Crop Assistance Program ( BCAP ) project areas in New York and North Carolina, and the expansion of an already established BCAP project area in Arkansas. This Arkansas BCAP project area is sponsored by MFA Oil Biomass LLC, in Columbia, Mo.
When it takes up to four million pounds of sand to frack a single well, it’s no wonder that demand is outpacing supply and frack sand producers are becoming the biggest behind-the-scenes beneficiaries of the American oil and gas boom. US Silica Holdings Inc. Source: [link].
American Electric Power has signed on as a corporate sponsor of The Pickens Plan, proposed by oil and gas industry veteran T. Boone Pickens. AEP’s headquarters are in Columbus, Ohio.
Acreage in Arkansas, Missouri, Ohio and Pennsylvania will be designated to grow giant miscanthus, a sterile hybrid warm-season grass that can be converted into energy to be used for heat, power, liquid biofuels, and bio-based products. A project area must have specific boundaries that are approved by the Secretary of Agriculture.
Gulf Coast Basin (Alabama, Arkansas, Georgia, Louisiana, Mississippi and Texas): The University of Texas at Austin plans to quantify coal from mines and coal ash from power plant resources and refuse as feedstocks for rare earth elements and critical minerals within the US Gulf Coast Basin. DOE Funding: $1,499,999. DOE Funding: $1,499,817.
The College of William and Mary and its Virginia Institute of Marine Science have formed a collaborative research initiative with a number of corporate partners—notably StatoilHydro—to investigate a new technology to produce biofuel from the algae growing naturally in rivers and the Chesapeake Bay.
REGULATORY RISKS In Oklahoma, which has several brine deposits, the Oklahoma Corporation Commission – which oversees oil and gas development – said it has no jurisdiction over lithium production and royalties, and referred comment to the state’s Department of Mines, which said it also does not oversee lithium.
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