The Cherokee Platform Province in Kansas, Oklahoma, and Missouri contains estimated recoverable reserves totaling 463 million bbl of crude oil, 11.2 tcf of natural gas, and 35 million bbl of natural gas liquids, the US Geological Survey said in a Sept. 1 report. Source: News
Appeals court rules for environmental groups in Montana lawsuit
A federal appeals court ruled that three environmental groups may have standing in a lawsuit to block oil and gas leasing on federal land in Montana. It remanded the case back to Sam E. Haddon, a judge in US District Court for Montana, who ruled 2 years earlier that they did not. Source: News
MARKET WATCH: NYMEX crude oil prices plummet by nearly $4/bbl
The price for light, sweet crude oil for October delivery plummeted by $3.79/bbl on Sept. 1, abruptly ending a late-August rally that marked the largest 3-day gain the New York market had experienced since 1990 for oil price futures. Source: News
Armour buys Roma oil, gas assets from Origin Energy
Armour Energy Ltd., Brisbane, has acquired oil, gas, and condensate assets on the Roma shelf region in southeast Queensland from Sydney company Origin Energy Ltd. for $10 million (Aus.) cash and $3 million in deferred consideration. Source: News
CHS takes full ownership of Kansas refinery
US farmer-owned cooperative CHS Inc., Inver Grove Heights, Minn., has completed its purchase of National Cooperative Refinery Association’s refinery and related operations at McPherson, Kan., to take full ownership of the assets. Source: News
EIA: Benefits of lifting US crude export ban most evident if output rises
A study released Sept. 1 by the US Energy Information Administration was apparent cause for celebration for several oil and gas industry groups, which took its findings as confirmation that lifting restrictions on US crude oil exports would be a net positive for the industry as well as consumers. Source: News
GeoPark follows Chachalaca success with Jacana discovery
GeoPark Ltd.’s Jacana 1 exploration well flowed 1,880 b/d of 14.9° gravity oil with a water cut of 1.9%, the company said. This discovery follows the company’s previously success with the Chachalaca 1. Source: News
PHMSA will award $54.1 million in pipeline safety grants to states
The US Pipeline and Hazardous Materials Safety Administration plans to award nearly $54.1 million in grants to support pipeline safety programs in 46 states, the District of Columbia, and Puerto Rico, the US Department of Transportation agency reported. Source: News
India to open 69 marginal fields for bidding
To stimulate investment and increase production, India plans to open 69 oil fields for competitive bidding. Source: News
Husky starts steam at second Sunrise plant
Husky Energy Inc. has started steam operations at the second of two processing plants at the Sunrise Energy project in northeastern Alberta. Source: News