Posts Tagged ‘Gas

07
Jun
10

Three killed in Texas gas pipe explosion

NEWS
Three killed in Texas gas pipe explosion

Monday, June 7, 2010

Earth

••• At least 3 people are dead and several missing after an explosion caused a massive fire in rural north-central Texas.

Cleburne city manager Chester Nolen tells the Dallas-Fort Worth television station WFAA that Monday’s explosion left at least 10 people missing, and a city fire official said at least six were injured.

A witness says she heard a huge rumbling that she thought was thunder and then a tornado.

Television images showed a large fireball and a burned out vehicle and construction equipment.

Cleburne is about 50 miles southwest of Dallas.
• Latest News & Headlines » Home «
• Source(s): FOX News / News Corporation
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29
May
10

Shell Buys U.S. Gas Assets From East Resources for $4.7 Billion

NEWS
Shell Buys U.S. Gas Assets From East Resources for $4.7 Billion
Saturday, May 29, 2010

••• Royal Dutch Shell, the energy major, has almost doubled its reserves of shale gas with the $4.7 Billion in cash acquisition of East Resources.

East Resources owns and operates more than 2,500 producing oil and gas wells in New York, Pennsylvania, West Virginia, and Colorado and is actively exploring drilling programs in Wyoming, according to its website. It has been operating in the Marcellus Shale Area for 25 years.

Companies from India’s Reliance Industries Ltd to Japan’s Mitsui & Co are spending billions of dollars on drilling to dislodge natural gas from shale – sedimentary rock composed of mud, quartz and calcite. Shell expects its share of gas in total output to rise to 52 percent in 2012.
“They’ve seen others take material positions in U.S. gas, and this is one way they can also play a part in that business,” said Jason Kenney, head of oil and gas research at ING Commercial Banking in Edinburgh.

The acquisition is the second-biggest oil and gas deal this year, after BP Plc’s acquisition of deepwater assets from Devon Energy Corp for $7 billion in March, according to Bloomberg data.

“We are enhancing our world-wide upstream portfolio for profitable growth, through exploration and focused acquisitions, and through divestment of non-core positions,” Chief Executive Officer Peter Voser said in a statement today.

Exxon Mobil Corp, the biggest U.S. oil company, agreed in December to buy XTO Energy Inc, the country’s largest natural gas producer, for $31 billion to gain control of shale-gas assets.
• Source(s): Royal Dutch Shell PLC and Bloomberg L.P.
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