The Morning Briefing: Oil and gas

"The Morning Briefing" is SmartPlanet's daily roundup of must-reads from the web. This morning we're reading about oil and gas production.

"The Morning Briefing" is SmartPlanet's daily roundup of must-reads from the web. This morning we're reading about oil and gas production.

1.) Exxon to buy Canadian oil and gas company for $3.1 billion. Exxon Mobil agreed on Wednesday to buy Celtic Exploration for about $3.1 billion in cash and stock, as it sought to expand its presence in the energy-rich shale formations of western Canada.

2.) Utah officials say oil and gas production up despite federal government. Oil and gas drilling is up across the West despite declining production on federal lands, industry officials said Wednesday, clarifying an argument the night before during the presidential debate.

3.) Oil and gas E&P Energy & Exploration sets terms for $236 million U.S. IPO. Energy & Exploration Partners, an exploration and production company focused on unconventional oil and natural gas resources, announced terms for its IPO yesterday.

4.) Oil prices bounce around, then end nearly where they began; gasoline prices fall 2 cents. Benchmark oil gained 3 cents to $92.12. It rose as high as $92.85 per barrel in the morning after gains in European stocks. But then the price dipped after the U.S. government reported a bigger-than-expected increase in U.S. crude supplies.

5.) Oil and gas leases, acres, and permits all down under Obama. During Tuesday night’s presidential debate, President Obama claimed, "Very little of what Governor Romney just said is true. We've opened up public lands. We're actually drilling more on public lands than in the previous administration and the previous president was an oil man." But what are the facts?

Image credit: Nestor Galino

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This post was originally published on Smartplanet.com

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