Killajoules

BP Enters the Utica/Point Pleasant Shale in Ohio
BP (NYSE: BP) announced today an agreement to lease thousands of acres in northeast Ohio for future oil and gas production in the Utica/Point Pleasant shale formation. Utica/Point Pleasant is a relatively new and very promising shale basin that consists of a potentially significant liquids-rich gas source, and this deal adds an important American energy source to BP’s onshore gas portfolio.

Transeuro Energy Ukraine Operations Update
Transeuro Energy Corp. ("Transeuro" or the "Company") announces that in Ukraine the rig operations have so far removed the 3 temporary bridge plugs that were used to suspend the well in May last year and cleaned out the wellbore back to the original TD of 3505m. Preparations are ongoing to install the 8 packers and 5 'FracPorts' across the C12, C13, C14, C15 and C16 intervals from 3100 meters — 3500 meters in depth. Rig operations are expected to take another 1 to 2 weeks and the rig will then be dismantled and moved from the site to make space for the Schlumberger fracturing pumps and associated equipment.

Williams Partners Announces $2.5 Billion Acquisition to Establish Major Footprint in Liquids-Rich Area of Marcellus Shale; Plans
Williams Partners L.P. (NSYE:WPZ) today announced it has agreed to acquire Caiman Energy's wholly owned subsidiary, Caiman Eastern Midstream LLC, for approximately $2.5 billion. The acquisition will provide Williams Partners with a significant footprint and growth potential in the natural gas liquids-rich portion of the Marcellus Shale.

CNPC and Shell sign first shale gas production sharing contract in China
China National Petroleum Corporation (CNPC) and Shell China Exploration and Production Company Limited (Shell) today signed a Production Sharing Contract (PSC) for shale gas exploration, development and production in the Fushun-Yongchuan block in the Sichuan Basin, China.

Carrizo Oil & Gas Announces Sale of Non-Core Barnett Shale Properties for $190 Million
Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) today announced that it has entered into a definitive agreement to sell a portion of its properties in the Barnett Shale (or "Divested Properties") to a subsidiary of Atlas Resource Partners, L.P. (NYSE: ARP) for $190 million in cash. This sale will have an effective date of January 1, 2012 and is expected to close in late April, subject to customary closing conditions and purchase price adjustments.

MSC Statement on Shell Chemical LP Ethane Cracker Announcement
Marcellus Shale Coalition president Kathryn Klaber issued the following statement on Shell Chemical’s announcement that it will move forward with evaluating a location for a potential ethane cracker in Beaver County, Pennsylvania:

ExxonMobil Leads Call for Hydraulic Fracturing Fluid Disclosure in Europe
Exxon Mobil Corporation (NYSE:XOM) today called for the adoption of a systematic hydraulic fracturing fluid disclosure program in Europe to provide further information to communities, policymakers and regulators about natural gas development technologies.
“Natural gas from shale holds tremendous promise in many places in Europe due to its lower carbon intensity and suitability for power generation, but we want policymakers and the public to be confident that it can be produced safely and responsibly,” said Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation, in a keynote speech at CERAWeek 2012.

Environmental Impact of Hydraulic Fracturing Treatment Performed on the ŁEBIEŃ LE-2H WELL
Soil, air, water – the studies show that all these elements of the environment are safe if exploration of shale gas is conducted in accordance with legal regulations. Today the Polish Geological Institute presents for the first time a complex report on environmental impact of hydraulic fracturing.

Letter of Intent for new China CBM and Shale Gas PSCs
Dart Energy International Pte Ltd (“Dart International”, the international operating arm of Dart Energy Limited - ASX: DTE), has entered into a Letter of Intent (“LOI”) with Henan CBM (“HCBM”) and Hong Kong Prosperous Clean Energy Company (“HPEC”). The LOI relates to the establishment of potential new foreign cooperation Production Sharing Contracts (“PSCs”) – up to four for coal bed methane at various blocks in Henan Province, China, and one for shale gas in Sichuan Province, China.

BNK PETROLEUM ANNOUNCES SPUDDING OF MISZEWO T-1 WELL IN POLAND
BNK Petroleum Inc. (the “Company”) (TSX: BKX) announced today that on February 28, 2012 the Company’s wholly owned subsidiary Indiana Investments Sp. z o.o., began drilling the Miszewo T-1 well on its Trzebielino concession block in Poland. The well is expected to take approximately 40 days to drill. Once the drilling rig has been released from the Miszewo T-1 well, the rig is scheduled to move to the Gapowo location on the Bytow concession block. An objective of these wells is to verify the Company’s geological model, which indicates that the target shales on the Trzebielino and Bytow concessions were deposited in a deeper basin environment than encountered by the previously drilled wells. The deeper environment and transgressive nature of the deposit is expected to lead to richer and thicker organic shales than found in the Lebork S-1 well. Schematics of some of this analysis can be found on the Company’s website.