Killajoules

Shale gas gets support from MPs in new report
Shale gas drilling in the UK has been given the go-ahead by MPs in a new report looking at the impact it could have on water supplies, energy security and greenhouse gas emissions.

YPF discovered 150 million barrels equivalent of oil shale resources
YPF reported the discovery of non-conventional oil resources (shale oil) in the Dead Cow training in an area of ​​330 km2, in Loma La Lata, Neuquén province, with an average thickness of 250 meters that contains more than 150 million barrels of oil equivalent potential resources.

Consortium to Develop Shale Gas in Canada and Funding to be Provided by JBIC
A consortium comprising Mitsubishi Corporation (“MC”, headquartered in Chiyoda-ku, Tokyo, President & CEO: Ken Kobayashi), Japan Oil, Gas and Metals National Corporation (“JOGMEC”, headquartered in Minato-ku, Tokyo, President: Hirobumi Kawano), Chubu Electric Power Co., Inc.(“Chubu Electric”, headquartered in Higashi-ku, Nagoya, President & Director : Akihisa Mizuno), Tokyo Gas Co., Ltd.(“Tokyo Gas”, headquartered in Minato-ku, Tokyo, President: Tsuyoshi Okamoto) and Osaka Gas Co., Ltd（“Osaka Gas”, headquartered in Chuo-ku, Osaka, President: Hiroshi Ozaki）. has agreed to collaborate on a shale gas project in northeastern British Columbia, Canada, into which MC invested last September. This is the first time Japanese utilities and gas companies have been involved in shale gas development.

Kinder Morgan to Purchase Midstream Shale Assets for $920 Million and Build Crude/Condensate Pipeline
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced it has entered into a definitive agreement to pay approximately $855 million to Petrohawk Energy Corporation (NYSE: HK) and assume approximately $65 million in debt for Petrohawk's 50 percent interest in KinderHawk Field Services (the natural gas gathering and treating services provider in the Haynesville Shale) and a 25 percent interest in Petrohawk's natural gas gathering and treating business in the Eagle Ford Shale. Additionally, KMP will invest approximately $220 million to build a new crude/condensate pipeline with a capacity of approximately 300,000 barrels per day (bpd) that will initially transport 50,000 bpd of condensate for Petrohawk from its production area in the Eagle Ford to the Houston Ship Channel.

Chevron Announces Agreement to Acquire Marcellus Shale Acreage
Chevron Corporation (NYSE:CVX) has announced today that it has agreed to acquire oil and gas assets, primarily 228,000 net leasehold acres, in the Marcellus Shale from Chief Oil & Gas LLC and Tug Hill, Inc. Terms of the transaction, which is expected to close before the end of the second quarter, were not disclosed.

Enterprise to Extend Eagle Ford Shale Crude Oil Pipeline System as Part of Long-Term Transportation Agreement with Chesapeake En
Enterprise Products Partners L.P. (NYSE:EPD) today announced plans to build an 80-mile extension of its 350,000 barrel per day (BPD) Eagle Ford Shale crude oil pipeline, that would allow the partnership to serve growing production areas in the southwestern portion of the play. The Phase II project would originate in Wilson County, Texas at the terminus of the partnership's previously announced 140-mile Phase I segment, and extend to a site near Gardendale, Texas in La Salle County, where a new central delivery point (CDP) is planned for construction that will feature 500,000 barrels of storage. Phase I is on schedule to begin service by the second quarter of 2012, with Phase II set to commence operations in the first quarter of 2013. When completed, the approximately 220-mile crude oil pipeline system will provide Eagle Ford Shale producers with access to the Texas Gulf Coast refining complex through Enterprise's integrated midstream network.

Marathon Oil, Nexen Agree to Jointly Explore Shale Acreage in Poland
Marathon Oil Corporation (NYSE: MRO) announced today that it has signed an agreement with a wholly owned subsidiary of Nexen Inc. under which Nexen will acquire a 40 percent working interest in 10 of Marathon's concessions in Poland's Paleozoic shale play.

Marubeni Participation in the Niobrara Shale Oil Project
Marubeni Corporation (“Marubeni”) announced today that Marubeni Denver Julesburg LLC, a U.S. subsidiary of Marubeni, has entered into an agreement with Marathon Oil Corporation (“Marathon”) (NYSE: MRO), a U.S. major oil and natural gas company with which Marubeni has a long-standing relationship over the years as a reliable partner of the Liquefied Natural Gas (“LNG”) project in Equatorial Guinea, on April 4, 2011 to acquire a 30% working interest in the Denver Julesburg Basin Niobrara shale oil play for approximately US$ 270 million, covering 180,000 net acres of oil and gas leases pertaining to this deal located in Colorado and Wyoming.

Anadarko Announces $1.55 Billion Joint Venture in the Eagleford Shale
Anadarko Petroleum Corporation (NYSE: APC) today announced it has signed a joint-venture agreement with a subsidiary of Korea National Oil Corporation (KNOC), whereby KNOC will earn approximately one-third of Anadarko's interest in the company's Maverick Basin assets, located in southwest Texas, for approximately $1.55 billion, effective Jan. 1, 2011.

BHP Billiton Announces Acquisition Of Chesapeake Energy Corporation's Fayetteville USA, Shale Assets
BHP Billiton today announced it has agreed to acquire all of Chesapeake Energy Corporation's (Chesapeake) interests in the Fayetteville Shale, USA, including the midstream pipeline system, for US$4.75 billion, which BHP Billiton expects to fund from the Group's cash resources.