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Vanguard Natural Resources to acquire Eagle Rock Energy


HOUSTON — Vanguard Natural Resources LLC will acquire Eagle Rock Energy Partners LP in a $474 million deal. The agreement was announced Thursday by the Houston-based companies. Vanguard Natural Resources will also assume $140 million of debt from Eagle Rock Energy Partners, which will become a wholly-owned indirect subsidiary. In related news, Vanguard purchases assets in Piceance Basin. The agreement ...

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Oklahoma governor signs bills to on wind industry incentives

OKLAHOMA CITY — Gov. Mary Fallin has signed six bills into law, including two measures aimed at altering tax incentives and credits for the Oklahoma wind energy industry. One bill phases out the current property tax exemption for wind facilities. The other makes wind facilities ineligible for a job creation tax credit currently offered by the state. A zero emissions ...

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South Texas oil well explodes, prompting evacuations

KARNES CITY, Texas — A South Texas oil well exploded, spewing toxic hydrogen sulfide gas that forced the evacuation of several nearby homes. The Karnes County Sheriff’s Office says The explosion happened Tuesday afternoon off Farm Road 792 about four miles east of Karnes City. Sheriff Dwayne Villanueva said the well pump that exploded was shut off but hydrogen sulfide ...

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Eagle Ford on the road to cheaper production

By next year, production in the Eagle Ford shale could be $10 to $15 cheaper per barrel, according to new estimates from Wood Mackenzie analysts. Fuel fix reported on the analysts’ findings, which were stated to a meeting with journalists last week. Thanks to more efficient drilling of horizontal wells, speeding up pressure pumping systems and embracing better technology, initial ...

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Marathon disappointed Galveston Bay workers reject contract offer

Marathon oil

HOUSTON – Marathon Petroleum Corp said on Tuesday it was disappointed by the rejection of a contract offer by striking workers at the company’s Galveston Bay Refinery in Texas City, Texas. Workers on Monday overwhelmingly rejected the offer developed by a federal mediator working with the company and United Steelworkers union Local 13-1, which represents the strikers. “We remain committed ...

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Bags of cocaine, worth $175K, wash up on Galveston beach

GALVESTON, Texas — A beachgoer in Southeast Texas has found about $175,000 worth of cocaine in unmarked bags that washed ashore. Galveston police said Monday that the more than 30 bags do not contain any information on the source of the drugs. Police say a man reported finding the bags Sunday morning on the shore just south of Galveston Island ...

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Governor Abbott to sign Denton fracking bill

Texas Gov. Greg Abbott announced this morning that he will sign into law a bill that reasserts the state’s control over oil and gas drilling and prohibits cities from banning hydraulic fracturing, giving them only limited control over the oil and gas process within their city limits. Abbott will sign the bill two days after he appeared at commencement services ...

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Dallas area has 3.3 magnitude earthquake; nobody hurt


DALLAS — The Dallas area has been shaken by a 3.3 magnitude earthquake. The U.S. Geological Survey says the quake happened at 1:14 p.m. Monday, with the epicenter 3 miles south-southwest of Farmers Branch. Dallas police had no immediate reports of any injuries or damage. Parts of rural West Texas had a 3.1 magnitude earthquake late Sunday afternoon. USGS reports ...

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Lucas Energy loses Victory merger

Houston-based company Lucas Energy Inc. received unfortunate news last week as West Texas operator Victory Energy called off any further workings on a potential merger deal. The Houston Business Journal reported last Friday that Victory ended the nonbinding letter of intent on May 11. Both companies were allowed to end the working agreement for any reason. The deal would have ...

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