Ineos to invest $1bn in UK shale gas exploration
Petrochemicals firm Ineos plans to invest $1bn in shale gas exploration and appraisal in the UK, in an effort to source indigenous gas for its processing plants.
The company has bid for licences in the UK Government’s 14th onshore round, the majority of which are in Scotland and northern England.
Ineos will be the biggest player in the UK shale gas industry if it wins all the licences it has applied for, it said.
The company currently owns two shale licences in Scotland covering more than 120,000 acres.
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By GlobalDataCorEnergy to buy 263-mile MoGas pipeline in US
CorEnergy Infrastructure Trust has agreed to acquire the ownership and operations of the MoGas Pipeline System in the US for $125m.
The 263-mile pipeline originates in northeast Missouri and extends into western Illinois and central Missouri.
It supplies natural gas in and around the St. Louis region and to small municipalities across central Missouri.
Primary customers include Laclede Gas, Ameren Missouri and Omega Pipeline, which is a subsidiary of CorEnergy.
LGO Energy to buy Tabaquite Exploration & Production Company
LGO Energy has agreed to acquire Tabaquite Exploration & Production Company (TEPCL), which is set to receive a licence for the Tabaquite block in Trinidad.
The company will pay $2m to acquire TEPCL from Trinity Exploration & Production.
Tabaquite block features four producing oil and gas fields which LGO intends to reactivate as well as expand via new drilling.
Located 27km from the Pointe-a-Pierre refinery, the Tabaquite block covers 7,502 acres and features Piparo, Old, New and Gas fields.
Rose Petroleum contracts drilling rig for initial well at Uinta basin in Utah
Rose Petroleum has signed a drilling rig contract with Beeman Drilling Services to spud its first well at Uinta basin location in Utah, US.
The rig will be used to drill the State 1-34 well, which will target the Mancos shale and test a deeper conventional target.
The rig, which is anticipated to be mobilised in mid-December, features 2 x 800hhp pumps with a 300,000lbs hook load capacity from the derrick.
Drilling starts on Rawicz-12 appraisal well in Poland
Oil and gas exploration firm San Leon Energy has started drilling the Rawicz-12 appraisal well on the 742 km2 Rawicz concession in Poland’s southern Permian Basin.
Palomar Natural Resources (PNR) is operating the well, which is targeting the Rawicz gas accumulation that was discovered earlier in the Permian Rotliegendes sandstones.
Poland’s Exalo Drilling is being used to drill the well, which will reach a total depth of 1,900m.
A full testing programme is planned upon completion of drilling of the well.
Phillips 66 and Paradigm Energy to develop two oil projects in North Dakota
Phillips 66 Partners and Paradigm Energy Partners have signed agreements to establish two joint ventures (JVs) for the development of midstream logistics infrastructure in North Dakota, US.
The JVs will support the construction of the two projects, the Sacagawea Pipeline and Palermo Rail Terminal, designed to improve logistical options for crude oil transportation in the Bakken region.
The 76-mile Sacagawea Pipeline will deliver crude oil from several points in and around Johnson’s Corner and the Paradigm CDP, located in McKenzie County, to destinations with take away options for both rail and pipeline in Palermo and Stanley, situated in Mountrail County.
Shell wins tax dispute case in India
The Bombay High Court in India has ruled in favour of energy giant Royal Dutch Shell in the long-running multimillion-dollar tax dispute case.
In February 2013, Shell’s India unit was accused of under-pricing shares transferred to its parent firm by $2.5bn.
The case is associated to alleged undervaluation of shares issued by Shell India Markets Private to Shell Gas.
In its latest ruling, the court stated that the transfers of shares were not taxable under the transfer pricing provisions.
Quanta Services buys Banister Pipelines
Quanta Services has acquired the business of Banister Pipelines to expand its Canadian mainline pipeline services offering.
Based in Nisku, Alberta, Banister Pipelines provides mainline pipeline construction and maintenance services in Canada.
The acquisition provides Banister’s customer base with access to Quanta Services’ energy infrastructure resources.
As a Quanta Services firm, the business will operate under the name Banister Pipelines Constructors.
