Mexico’s vast reserves of oil and natural gas will be open to exploration by foreign companies beginning in 2015, thanks to a historic change proposed by President Enrique Peña Nieto and approved by Mexico’s Congress on August 6. The change, … Continue reading
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Breitburn Energy Partners LP (NASDAQ:BBEP) of Los Angeles announced on July 24th that it will acquire Houston-based QR Energy, LP (NYSE: QRE) in a transaction valued at $3 billion. The merger will make Breitburn the nation’s largest oil-weighted upstream oil … Continue reading
The Division of Oil, Gas, and Geothermal Resources (DOGGR) said on July 18th that it will conduct a full review of the state’s Underground Injection Control (UIC) Program to ensure it complies with requirements of the Safe Drinking Water Act. … Continue reading
Occidental Petroleum (NYSE: OXY) on July 17th announced the leadership team for its new California Resources Corporation (CRC) subsidiary. Todd A. Stevens will be President and Chief Executive Officer, and William E. Albrecht will be Executive Chairman of the Board. … Continue reading
The final deadline for DOGGR to implement permanent regulations on fracking under SB 4 has been extended by six months, to July 1, 2015. The change was incorporated in a little-noticed “trailer bill” amending the state budget, passed and signed … Continue reading
Chevron Corporation (NYSE: CVX) reported on July 10th in an interim update that earnings for the second quarter 2014 are expected to be higher than first quarter 2014. The San Ramon-based company said this is a result of gains on … Continue reading