In this weeks’ news update, Legend Oil and Gas plans to acquire Maxxon Energy, and an LNG plant opens in the Eagle Ford region.
Oil and gas production company Legend Oil and Gas is planning to acquire Bakken-based Maxxon Energy for $4.35 million, according to a letter of intent filed by Legend on March 8.
Maxxon, a trucking company in western North Dakota, transports for various companies in the Bakken including Stateoil, Northern Tier Energy and Bridger Trading Group.
Legend says all Maxxon team members will remain as part of the larger, subsidized company. Maxxon currently owns 13 trucks, with additional leases of seven trucks. Legend predicts that by June 30 trucks in operation could total between 25 and 30.
Proposal Targets Waste, Noise Regulations in Pennsylvania
A proposal in Pennsylvania would toughen regulations for the Marcellus Shale natural gas drilling industry and how it stores waste, dampens noise and affects public water sources, schools and playgrounds.
State environmental regulators say they want inspectors to undertake more stringent reviews of proposed drilling sites within 100 feet of streams or wetlands and require drillers to create site-specific noise control plans.
Officials also want tougher regulations on waste storage, requiring drilling permit applications to analyze how the proposed well could affect drinking water sources, schools and playgrounds.
Eagle Ford LNG Plant Serving Oilfield Opens
A new liquefied natural gas (LNG) plant built by Stabilis Energy in George West, Texas, opened on March 10.
The plant, in the heart of the Eagle Ford, will provide fuel for use in the oilfield. The facility has a production capacity of 100,000 gallons per day and has storage space for 270,000 gallons.
The facility features two truck loading racks that can load two transport trailers at the same time in less than an hour.