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Vanguard Natural Resources Inc., Houston, has agreed to sell certain assets in the Arkoma and DJ basins to an undisclosed buyer for $14.5 million as part of the company’s ongoing transition from upstream MLP to independent exploration and production company.

Light, sweet crude oil prices rose Sept. 14 and the momentum continued in early Sept. 17 trading, which Saxo Bank Analyst Ole Hansen attributed to a weakening US dollar. “The dollar is a bit on the weak side,” Hansen said Sept. 17. Because oil is traded on most worldwide markets in US dollars, a weakening dollar makes it less expensive for buyers starting with other currencies.

Global Energy Ventures Ltd. (GEV), a Perth-based developer of global integrated compressed natural gas projects, has signed a heads of agreement with National Iranian Gas Co. (NIGC) for the sale and purchase of 240 MMcfd of natural gas to the port of Chabahar in Iran accessing the Oman Sea.

The US Federal Energy Regulatory Commission released a draft environmental impact statement for the proposed Driftwood LNG export project and an associated pipeline in four Louisiana parishes. The project would provide gas and process to produce as much as 27.6 million tonnes/year of LNG for export, FERC reported. Comments are being accepted through Nov. 5.

Canadian Natural Resources Ltd. has completed its offer to acquire Laricina Energy Ltd., reporting acceptance by holders of 98.7% Laricina’s issued and outstanding shares. Both companies are based in Calgary. The buyer expected to pay $46.35 million (Can.) for the shares by Sept. 18.


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