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GE to invest $110M in new Oil & Gas Global Research Center in Oklahoma

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General Electric will build a new Global Research Center in Oklahoma dedicated to driving innovation and technological advancements in the oil and gas sector and bringing products to market faster. Unconventional resources, and shale gas in particular, may be one of the biggest productivity drivers of our lifetime.

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GE, Devon sign new technology collaboration agreement to drive unconventional resources innovations

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GE Oil & Gas and energy exploration and production company Devon Energy signed a new technology collaboration agreement (TCA) to drive innovations that will enhance the performance and economics of unconventional oil and natural gas projects as the demand for energy grows worldwide.

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Devon Energy and BP Enter Into $7.0B Property Sales Agreement and Oil Sands Joint Venture

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Devon and BP will also form a heavy oil joint venture to develop BP’s Kirby oil sands leases in Alberta, Canada. In order to facilitate the oil sands joint venture, Devon will acquire 50% of BP’s interest in the Kirby oil sands leases. The Whiting upgrade is planned to come on-stream in 2012.

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Chesapeake selling Permian and midstream assets for $6.9B; Chevron, Shell and EnerVest acquiring Permian assets for combined $3.3B

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The company will use a portion of the proceeds from these asset sales to fully repay its $4.0 Chesapeake has entered into purchase and sale agreements with three companies covering the vast majority of its Permian Basin assets for total net proceeds of approximately $3.3 of Chesapeake’s production during the quarter.

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DOE Awards Up to $6.9M to Nine Projects for Shale Gas and Coalbed Methane Production

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The Office of Fossil Energy’s National Energy Technology Laboratory (NETL) has selected nine new projects targeting environmental tools and technology for shale gas and coalbed methane (CBM) production. General Electrical Company, Niskayuna, N.Y. Ground Water Protection Research Foundation, Oklahoma City, Okla.

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