• Clean Over Green: May the Most Efficient Source Win

• Changed World: M&A Activity Moving from Gas to Oil
• Apache Completes US$1B Acquisition in GOM from Devon
• Industry Groups Comment on Defeat of Murkowski Resolution

• Denali Pipeline to Hold Open Season
• OECD: Ending Fuel Subsidies Would Cut Global GHG 10%
• Verizon Agrees to Purchase Ford CNG Vans
• Top Processors/Producers Listing Coming Soon

• Conway Ethane Margins Officially Turn Negative

• NGL Prices Remain Stagnant

• Kinder Morgan Holds Open Season for Marcellus Lateral

• ARC Energy Trust to Increase Montney Holdings Through Storm Exploration Acquisition
• Saudi Aramco’s Khursaniyah Processing Plant to Come Online this Month

Changed World: M&A Activity Moving from Gas to Oil

Tudor, Pickering, Holt & Co.’s Maynard Holt shares his insights on the new-look M&A marketplace.

Apache Completes US$1B Acquisition in GOM from Devon

Devon Energy Corp. completed the US$1.05 billion sale of its oil and natural gas assets in the shallow region of the Gulf of Mexico to Apache Corp. The assets involved in the sale account for approximately 83 million barrels of oil equivalent in proved and probable reserves as of year-end 2009.

Industry Groups Comment on Defeat of Murkowski Resolution

National Petrochemical & Refiners Association, American Petroleum Institute, U.S. Senate failed to pass a resolution [S.J.Res.26] sponsored by Sen. Lisa Murkowski (R-Alaska) to overturn the Environmental Protection Agency’s efforts to regulate greenhouse gases under the Clean Air Act.

Denali Pipeline to Hold Open Season

ConocoPhillips and BP PLC will hold an open season for their proposed 50/50 joint venture, Denali – The Alaska Gas Pipeline, that will run 1,500 miles and transport 4.5 billion cubic feet per day (Bcf/d) of natural gas from the North Slope of Alaska to Alberta, Canada.

OECD: Ending Fuel Subsidies Would Cut Global GHG 10%

A new report from Organization for Economic Cooperating & Development based on data from International Energy Agency finds that phasing-out of fossil fuel subsides could cut global greenhouse gas emissions 10% by 2050 even using “business as usual” assumptions.

Verizon Agrees to Purchase Ford CNG Vans

Officials with communications giant Verizon announced that the company will be reducing its CO2 output by agreeing to replace some of its fleet of vans powered by conventional engine with those powered by compressed natural gas (CNG) as part of its sustainability effort to conserve energy, reduce greenhouse gas emissions and help to improve air quality.

Top Processors/Producers Listing Coming Soon

Gas Processors Report’s listing of the top NGL producers and gas processors for 2009 is nearing completion. The final numbers are being tallied and companies are being contacted to vet the figures and contribute to the report. However, any companies that would like to submit information to GPR that they feel should be included in our tally or reporting are encouraged to do so. Please call or e-mail our editor, Frank Nieto, at (703) 891-4807 or fnieto@hartenergy.com.

Conway Ethane Margins Officially Turn Negative

Conway ethane margins officially turned negative this week as the margin closed at negative 2¢. Although prices had theoretically been positive for the past month at the hub, when factoring in all expenses they were negative and ethane rejection continues in the mid-continent.

NGL Prices Remain Stagnant

Natural gas liquid (NGL) prices were largely down this week at both Conway and Mont Belvieu with the lone NGLs to show price improvements being iso-butane and C5+, which are both closer aligned with oil prices than lighter NGLs.

Kinder Morgan Holds Open Season for Marcellus Lateral

Kinder Morgan Energy Partners LP began a non-binding open season for its previously announced Marcellus Lateral Project that will transport natural gas liquids from the Marcellus shale to fractionation plants and petrochemical facilities near Sarnia, Ontario, Canada.

ARC Energy Trust to Increase Montney Holdings Through Storm Exploration Acquisition

Calgary, Alberta, Canada-based ARC Energy Trust announced an agreement to acquire Storm Exploration Inc., also located in Calgary, in a Cdn$680 million (US$658 million) in a part stock-for-stock exchange and debt assumption agreement. The deal was attractive to ARC since Storm Exploration has holdings in the Horn River basin’s Montney shale, an area that the company is trying to gain holdings in.

Saudi Aramco’s Khursaniyah Processing Plant to Come Online this Month

Saudi Aramco officials announced that its Khursaniyah natural gas processing plant will be brought online this month, according to a Reuters report.

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