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November 17, 2009 Sign up Forward Archive Advertise News for the oil and natural gas industry       Top Story    Devon to divest properties worth as much as $7.5B to slash debt Devon Energy said it plans to reduce debt by raising up to $7.5 billion from the sale of its properties in the Gulf of Mexico and overseas, including assets that generate about 7% of its reserve of 2.8 billion barrels of oil equivalent. Slashing debt and focusing on investments in U.S. and Canadian fields is expected to boost output, stockpiles and cash flow, Devon added. Bloomberg (11/16) NEW TECHNOLOGY SIMPLIFIES FEDERAL REPORTING SAP offers comprehensive automated solutions for ARRA reporting that help organizations comply with regulations while keeping costs down. Download now to learn how SAP can help you overcome complex ARRA reporting obstacles.   Industry News  Hess exec: Gas drilling in Marcellus Shale may start by mid-2010 Hess aims to begin drilling for natural gas in the Marcellus Shale in Pennsylvania by the middle of next year after it leased more than 65,000 acres in the state. Hess and partner Newfield Exploration have also held discussions with state regulators and are planning more land purchases, company executive Bill Drennen said. The deal between the companies covers 140,000 gross acres in the area. Rigzone.com/McClatchy-Tribune Information Services (11/16) Marcellus Shale gas shipments may go up under Spectra expansion plan: Pipeline operator Spectra Energy said it may deliver up to 300 million cubic feet daily of natural gas from the Marcellus Shale to the Northeast under an expansion project with Range Resources. Texas-based Range earlier committed to at least 150 million cubic feet of gas per day, but Spectra intends to unveil a binding open season for an extra 150 million cubic feet available in 2012. Bloomberg (11/16) Suncor announces $5.5 billion expansion in oil sands Suncor Energy announced a $5.5 billion capital budget that includes $1.5 billion for new spending in oil-sands production. Suncor plans to renew its interest in the delayed Firebag project in Canada's Alberta province. Canada.com/Canwest News Service (11/16) Coordinator for Alaska pipeline project to step down Drue Pearce is resigning as federal coordinator for a proposed natural gas pipeline in Alaska at the request of the White House. Pearce, a Republican who has held the post since it was established during the tenure of President George W. Bush, said she will leave the position Jan. 3. Reuters (11/16)   Exploration & Production  BP announces another oil discovery in U.S. Gulf BP and its partner, Devon Energy, said they made another find in the Gulf of Mexico. London-based BP confirmed the presence of oil in Lower Tertiary deepwater reservoirs after testing wells in a western expansion of the Kaskida prospect. Houston Chronicle/Bloomberg (11/16)   Featured Content    Small Business Grant Programs Worth a Look Polly Schneider Traylor Minding the Petty Cash Drawer? Michelle V. Rafter You Can Laugh at Your Unemployment Worries If You Follow These Guidelines Scott Ginsberg Word of Mouth Today Steve Strauss The 5 Deadly Signs of Business Decay Laurel Delaney   Technology & Innovation  Experts: Innovation boosts recovery of natural gas from Barnett Shale Companies working in the Barnett Shale in Texas are continuing to learn how to recover more natural gas from the area since it was discovered in 1982, industry executives said. Techniques such as drilling horizontal wells and slick-water hydraulic fracturing have helped to achieve progress in the gas play, they noted. Fort Worth Business Press (Texas) (11/16)   Policy Watch  Midterm elections in 2010 to affect progress of Senate climate measure Proponents of the Senate's climate change bill, which the Environment and Public Works panel cleared this month, have roughly until the end of March to muster the 60 votes required for approval because of next year's midterm November elections. "Conventional wisdom is that you have until the spring to get controversial issues moving," said Sen. Ben Cardin, D-Md., a co-author of the measure. Under a best-case scenario, the Senate will pass the legislation by March, granting a House-Senate conference enough time to complete it by the end of spring. The New York Times/ClimateWire (11/16) , Reuters (11/16) Webb offers nuclear alternative to cap-and-trade: Sen. Jim Webb, D-Va., on Monday became the latest Democrat to withdraw support of climate legislation because of cap-and-trade provisions. Webb and Sen. Lamar Alexander, R-Tenn., have proposed an alternative energy bill that would earmark $20 billion over two decades of spending to promote nuclear energy development. The Politico (Washington) (11/16) Officials recommend prohibiting gas drilling in New York City watersheds The New York City Council is seeking a ban on gas drilling in its watersheds, citing contamination problems that could result from inadvertent leaks. This comes after New York state suggested environmental policies that would permit drilling in the multi-state Marcellus Shale formation. While geologists say drilling could meet the country's natural gas needs for at least 10 years, city officials argue that such an activity should be banned in watersheds. Reuters (11/16)   API News  API RP 752 and 753: Facility Siting Regulations and Compliance, April 12, Houston This course is a management-level overview and addresses the regulatory requirements for facility siting, a review of API RP 752 and RP 753 and an overview of the methods to satisfy the requirements. Anyone managing, performing or reviewing facility siting needs should attend. Click here for more. Workshop on Security Vulnerability Assessments, Dec. 3 and 4, Washington, D.C. The American Petroleum Institute presents the leading SVA training for the petroleum, petrochemical and chemical industries. The objective of an SVA is to identify security hazards, threats and vulnerabilities facing a facility and to evaluate countermeasures to provide for the protection of the public, workers, national interests, the environment and the company. This two-day course provides complete instruction on how to conduct an SVA to assess security risks and identify potential countermeasures to reduce vulnerabilities. Attendees receive a CD with related documents including a copy of the API/NPRA "Security Vulnerability Assessment for the Petroleum & Petrochemical Industries." Course instructors have practical, hands-on knowledge from performing SVAs in multiple industries. The workshops provide an opportunity to practice skills. Learn more. 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