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

Green Car Congress

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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DOE awards $19M to 13 initiatives in fossil-fuel areas to produce rare earth elements and critical minerals

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The US Department of Energy (DOE) awarded $19 million for 13 projects in traditionally fossil-fuel-producing communities across the country to support production of rare earth elements and critical minerals essential to the manufacturing of batteries, magnets, and other components important to the clean energy economy.

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National Academies’ Gulf Research Program awards $10.8M to address systemic risk in offshore oil and gas operations

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million to six new projects to develop new technologies, processes, or procedures that could result in improved understanding and management of systemic risk in offshore oil and gas operations. University of Mississippi. Florida Maxima Corporation. These projects address several facets of risk in offshore operations.

Oil 150
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KiOR and Catchlight Energy sign feedstock supply agreement

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developer of a catalytic pyrolysis process to produce renewable oil from biomass, and Catchlight Energy LLC (CLE), a 50-50 joint venture between subsidiaries of Chevron Corporation and Weyerhaeuser Company focused on providing liquid transportation fuels from sustainable forest-based resources, have signed a feedstock supply agreement.

Supplies 186
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BIOX and World Energy JV to acquire & operate 90M USG biodiesel plant in Houston; 3rd-largest biodiesel plant in NA

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BIOX Corporation and World Energy announced a 50/50 joint venture to acquire and operate a 90 million US gallon (USG) (341 million liter) biodiesel production facility in Houston, Texas. from pure seed oils to animal fats to recovered vegetable oils— with no change to the production process.

Houston 150
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Hess plans to develop Tubular Bells field in the deepwater Gulf of Mexico for estimated $2.3B

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Hess Corporation will proceed with the development of Tubular Bells, a deepwater oil and gas project operated by Hess in the Gulf of Mexico. Discovered in 2003, Tubular Bells is located approximately 135 miles southeast of New Orleans in the Mississippi Canyon area. The development is estimated to cost $2.3

Mexico 170
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KiOR signs second offtake agreement for renewable gasoline and diesel blendstocks

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CLE’s purchase of products is contingent on, among other things, satisfaction of product specification criteria and RIN certification of the products as cellulosic biofuels under the US Renewable Fuel Standard. KiOR expects to begin production at its Columbus facility in the second half of 2012. Earlier post.)

Gasoline 170