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Exxon Mobil Acquiring XTO Energy in $41B Deal; Enhances US Position in Unconventional Natural Gas and Oil

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Exxon Mobil Corporation is acquiring XTO Energy Inc. Its properties are concentrated in Texas, New Mexico, North Dakota, Pennsylvania, West Virginia, Arkansas, Oklahoma, Kansas, Wyoming, Colorado, Utah, Louisiana and Montana. Completion of the transaction is expected in the second quarter of 2010.

Oil 186
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Record $86B in 2011 US oil and gas upstream deals, led by unconventional sector with $62B

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Totals for 2011 are $86 billion (versus prior 2010 record of $75 billion) in 369 deals (versus prior 2010 record of 313 deals). Industry appetite for oil-rich resource plays, particularly the North Dakota Bakken shale, Texas Eagle Ford shale and Ohio Utica shale, drove deal activity in the unconventional sector to a record $62 billion.

El Paso 225
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Accelergy Begins Production of Synthetic Jet Fuel from Coal and Biomass; USAF to Evaluate for 100% Synthetic Fuel Use

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Accelergy Corporation has begun production of a synthetic fuel from coal and biomass, to be evaluated by the United States Air Force (USAF) as the industry benchmark for 100% synthetic jet fuel. Fuel deliveries to the Air Force Research Labs will commence in late 2010.

Coal 218
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Texas Clean Energy Project signs long-term CO2 offtake agreement with Whiting Petroleum for enhanced oil recovery; 90% CO2 capture from IGCC coal polygen plant

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Summit Power Group, LLC and Blue Strategies, LLC have signed a 15-year CO 2 offtake agreement with Whiting Petroleum Corporation for some of the CO 2 that will be captured by Summit’s Texas Clean Energy Project ( TCEP ), a coal gasification with carbon capture polygen project being developed in Penwell, Texas, outside Odessa.

Coal 186
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Marathon acquires additional Eagle Ford Shale assets for $3.5B

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Marathon Oil Corporation has reached a definitive agreement with Hilcorp Resources Holdings, LP to purchase its assets in the core of the Eagle Ford shale formation in Texas in a transaction valued at $3.5 billion subject to closing adjustments, customary terms and conditions, and Hart-Scott-Rodino approval. —Clarence P. Cazalot Jr.,

Ford 210
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DOE to award up to $137M for SuperTruck II, Vehicle Technology Office programs

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In 2010, the Energy Department launched the SuperTruck initiative to improve heavy-duty truck freight efficiency by 50%. For SuperTruck II, the Energy Department has selected the following four SuperTruck II teams for projects of $20 million in federal funding, and each recipient will match that amount, dollar-for-dollar: Cummins, Inc.

Vehicles 150
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EERC Foundation Receives Patent Application Approval for On-Demand Hydrogen Fueling System

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The US Patent and Trademark Office has issued the Energy & Environmental Research Center (EERC) Foundation in Grand Forks, North Dakota, allowance for a patent application on a high-pressure production process for reforming liquid fuels, such as ethanol, methanol, and gasoline, to hydrogen for vehicle fueling.