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Halcon enters into purchase agreements



Published: Fri, October 4, 2013 @ 12:00 a.m.

Halcon enters into purchase agreements

HOUSTON

Halcon Resources Corp. announced in September that it has entered into three separate purchase agreements to assets at locations throughout the U.S.

Halcon said it would sell $302 million of its holdings. The company did not say where those locations are, but it expects the transactions to be completed by the end of this year.

Royal abandons Western Slope

DENVER

Royal Dutch Shell has become the latest company to abandon efforts to turn Western Slope oil-shale into oil.

The company said in September that energy markets have changed since the project started in 1982, and the company no longer wants to continue efforts to turn oily shale rock into liquid by heating the rock and pumping out the oil. Chevron stopped its oil-shale research in Rio Blanco County in February 2012.

IGS Energy opens new fueling station

BRIDGEPORT, W.VA.

IGS Energy opened its first compressed natural-gas fueling station for vehicles along Interstate 79 in north-central West Virginia, the start of a $10 million network that eventually will run from Charleston to Mount Morris, Pa.

Ohio-based IGS also plans to build stations in Charleston and Jane Lew, along with the one near the Pennsylvania line.

The company has said it’s looking at a similar network in Ohio, and possibly eventually in Pennsylvania. In June, the company announced plans for a $2.5 million compressed natural-gas refueling station at 2840 Salt Springs Road in Weathersfield Township.

Shell to build plant in Louisiana

BATON ROUGE, LA.

Shell Oil Co. has announced that it has settled on Ascension Parish, La., to possibly build a $12.5 billion natural-gas-to-liquids plant that would create 740 direct jobs. No final decision has been made on whether to construct the facility on a site near Sorrento, about 30 miles from Baton Rouge. The company says it will decide after engineering studies and environmental permitting are done.

National Oilwell to spin off business

HOUSTON

National Oilwell Varco Inc. says it is exploring a plan to spin off its distribution business to its shareholders as a separate, publicly traded company.

The new company would provide maintenance, repair and operating supplies to energy and industrial companies. After two acquisitions last year, the distribution business “now has the market size and scale to operate as a standalone, world-class distribution company,” Pete Miller, chairman and CEO, said in a statement.


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