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Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

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Alliance's Hillwood Commons lands first tenant

A large title insurance, property valuation and settlement services company is the first tenant at Hillwood Commons I, an office complex at Alliance Town Center.

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

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Fort Worth's mayor looking for new chief of staff

Jason Lamers is leaving the city after 14 years to join Burlington Northern Santa Fe.

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Exxon Mobil, LINN Energy strike deal

A. Lee Graham

Reporter

Exxon Mobil Corp. of Irving has executed an agreement to add almost 26,000 acres to its U.S. oil and natural gas portfolio managed by XTO Energy Inc. through a non-monetary exchange with LINN Energy LLC.

In exchange, LINN will receive part of XTO’s interest in the Hugotron gas field in Oklahoma and Kansas.

“This Midland Basin leasehold is in a prolific area where we expect rapid, profitable development of multiple horizons in the Wolfcamp and Spraberry formations,” said Randy Cleveland, president,, XTO Energy, in a news release.

“With this agreement and our previously announced transaction with Endeavor Energy Resources, we will increase our operated position in the Midland Basin Wolfcamp core to roughly 100,000 net acres and our total position in the basin to 300,000 net acres,” Cleveland said.

XTO will receive 25,000 net acres in the northern Midland core area that is considered conducive for horizontal Wolfcamp and Spraberry development, with current production of about 2,000 oil equivalent barrels per day, Exxon Mobil said. XTO also will receive 1,000 net acres in the New Mexico Delaware Basin that augments its existing leasehold and near-term development.

“This brings our leasehold position in the Permian Basin to over 1.5 million acres and in excess of 90,000 net barrels of oil-equivalent daily production,” Cleveland said.

LINN will acquire a portion of XTO’s interests in the low-decline, mature Hugoton gas field, including all non-royalty trust interests in the shallow formations, with current production of about 85 million equivalent cubic feet per day, 80 percent of which is natural gas.

lgraham@bizpress.net

 

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