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Sinopec purchasing 50% of Chesapeake Energy leasehold in Mississippi Lime unconventional play for $1.02B

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Chesapeake Energy Corporation and Sinopec International Petroleum Exploration and Production Corporation (Sinopec) executed an agreement which provides for Sinopec to purchase a 50% undivided interest in 850,000 of Chesapeake’s net oil and natural gas leasehold acres in the Mississippi Lime play in northern Oklahoma (425,000 acres net to Sinopec).

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US DOE awards KiOR loan guarantee supporting a more than $1B biofuels project; drop-in fuels from wood biomass

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a developer of a catalytic pyrolysis process to produce renewable oil from biomass, has received a term sheet for a loan guarantee from the US Department of Energy’s Loan Guarantee Program supporting a more than $1-billion biofuels project. Khosla Ventures incubated the company in 2007 and is the lead investor. KiOR, Inc.,

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Shell announces successful exploratory well at Vicksburg in deepwater GOM

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The well is located 75 miles (120 kilometers) offshore in the Mississippi Canyon Block 393 in 7,446 feet (2,269 meters) of water. It was drilled to a total depth of 26,385 feet (8,042 meters) and encountered more than 500 feet (152 meters) of net oil pay.

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BOEM announces proposed Central Gulf of Mexico oil and gas lease sale; nearly 38 million acres available

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The sale will include all available unleased areas in the Central Planning Area offshore Louisiana, Mississippi and Alabama. Lease Sale 216/222 is the last remaining sale scheduled in the 2007 – 2012 Outer Continental Shelf Oil and Natural Gas Leasing Program.

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Shell Announces Significant new Discovery in Deepwater Gulf of Mexico

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Shell announced a “significant” new oil discovery in the deepwater eastern Gulf of Mexico, adding to discoveries in the area from 2009. The discovery is located at the Appomattox prospect in 2,200 metres (7,217 feet) of water in Mississippi Canyon blocks 391 and 392. Shell sites in the Gulf of Mexico. Click to enlarge.

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KiOR seeks to double cellulosic fuels production at Columbus plant; $50M in from Khosla for Columbus II

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is pursuing plans to double production capacity at its Columbus, Mississippi, facility through construction of a second facility incorporating KiOR’s commercially proven technology. Khosla Ventures incubated KiOR in 2007 and is the lead investor. Cellulosic gasoline and diesel company KiOR, Inc. Earlier post.).

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UNEP Report Calls for More Sophisticated Approach to Developing Biofuels; Limitations of Current LCA Studies

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World ethanol production for transport fuel tripled between 2000 and 2007 from 17 billion to more than 52 billion liters (13.7 From 2007 to 2008, the share of ethanol in global gasoline type fuel use was estimated to increase from 3.78% to 5.46%, and the share of biodiesel in global diesel type fuel use from 0.93% to 1.5%.

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