Occidental to Buy CrownRock for $10.8 Billion
Occidental Petroleum agreed to buy Texas shale driller CrownRock in a cash-and-stock deal valued at $10.8 billion as consolidation heats up in North America’s most-prolific oil basin.
Biden Plans Three Auctions of Offshore Drilling Rights
The Biden administration released plans Sept. 29 to hold three auctions of offshore drilling rights over the next five years — part of what it cast as an effort to phase down oil leasing in favor of clean energy.
Biden Issues Offshore Drilling Rights Under Climate Mandate
The Biden administration on Sept. 14 issued oil and natural gas leases to companies that nabbed the Gulf of Mexico drilling rights in a government auction later invalidated by a federal court.
Biden’s Oil Demands Collide With Drillers Reining In Output
The war in Ukraine has touched off a feud between the White House and U.S. oil industry as many companies reap record profits from rising prices despite pumping less crude than before the pandemic, leaving American consumers beset by surging gasoline costs.
March 11, 2022Oil and Gas Leases on Hold in New Mexico’s Chaco Park
New oil and gas leasing within 10 miles of Chaco Culture National Historical Park will be prohibited for the next two years as officials consider a proposal to withdraw federal land in the area from development for a 20-year period, the U.S. Department of Interior said Nov. 15.
US Cuts Oil Production Forecast for First Time in Six Months
The U.S. government cut its oil production forecast for the first time in six months as drillers scale back in smaller shale plays and the U.S. Gulf of Mexico.
Colorado Drillers Rise as Voters Reject Limits on Oil Production
Anadarko Petroleum Corp., Noble Energy Inc. and other companies exploring for oil and natural gas in Colorado jumped in pre-market trading Nov. 7 after voters rejected a plan that sought to limit their ability to drill in the state.
Arctic Offshore Wells Approved Off Alaska’s Coast
ANCHORAGE, Alaska — The first oil and gas production wells in federal Arctic waters have been approved by U.S. regulators. The Bureau of Ocean Energy Management on Oct. 24 announced it issued a conditional permit for the Liberty Project, a proposal by a subsidiary of Houston-based Hilcorp for production wells on an artificial island in the Beaufort Sea.
Obama Lifts Ban on Deepwater Oil Drilling
The Obama administration has lifted a moratorium on deep-water oil drilling that it imposed in April in the wake of the BP oil spill in the Gulf of Mexico, the Associated Press reported.
October 13, 2010