Energy In-depth: First state environmental policy summit to be held today at Heifer International

Editor’s note: Each Friday, Talk Business & Politics provides “Energy In-depth,” a round-up of energy and regulatory news.

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FIRST STATE ENVIRONMENTAL POLICY SUMMIT TO BE HELD FRIDAY AT HEIFER INTERNATIONAL
The Arkansas Public Policy Panel, Arkansas Audubon, and the Arkansas Sierra Club will hold the first “Arkansas Environmental Policy Summit” Friday (Sept. 9) at Heifer International’s headquarters in downtown Little Rock. According to organizers, approximately 100 activists, regulators, and elected officials are expected to attend the event, including representatives from federal, state and local government, environmental organizations, electric utilities and other groups.

The all-day event, which will last from 9 a.m. to 4 p.m., will include panel discussions on the Obama administration’s Clean Power plan, Arkansas water management and resources, and the science of climate change. Chandra Taylor Smith, head of diversity and inclusion for the National Audubon Society, will be the luncheon keynote speaker and Arturo Blanco, director of environmental justice for EPA Region 6 in Dallas, will also give a presentation in the afternoon session.

ROCK REGION METRO AWARDED FIRST-EVER FEDERAL GRANT IN COMPETITION FOR CNG BUSINESSES
Rock Region METRO on Thursday (Sept. 8) was awarded $1.65 million in Federal Transit Administration funds to put toward the purchase of seven compressed natural gas buses and an educational diagnostic center for agency mechanics. This is the first FTA competitive grant for bus and bus facilities Little Rock-based METRO has received.

“This award will greatly assist us in bringing modern transit to central Arkansas,” said Jarod Varner, METRO executive director. “With careful financial planning from our board and staff and the help of these funds, we continue to make progress on our fleet replacement plan to transition all diesel-fueled METRO buses with compressed natural gas buses by the end of 2025 and maintaining bus size diversity.”

The grant provides an 85% funding match for two 40-foot CNG buses, two 35-foot CNG buses and an educational diagnostic center that teaches mechanics how to identify CNG bus mechanical problems more efficiently. The agency has ordered seven CNG buses that are expected to arrive in the summer of 2017. The new buses replace seven 12-year-old, 40-foot Gillig buses.

BHP SELLS OFFSHORE NATURAL GAS INTERESTS IN WESTERN AUSTRALIA
BHP Billiton, which reported losses of $6.2 billion in fiscal 2016, has reached an agreement with Woodside Energy Limited (Woodside) to divest its 50% stake in the undeveloped Scarborough area gas fields, located about 300 kilometers offshore Western Australia.

BHP will receive for an initial cash consideration of $250 million and a further $150 million, payable at the time a future final investment decision is made for the development of the Scarborough gas field. Under the proposed transaction, ExxonMobil will remain operator of Scarborough and operatorship of North Scarborough will transfer from BHP Billiton to Woodside. Completion of the deal is expected by the end of the 2016.

BHP, the second-largest leaseholder in the Fayetteville Shale play, has essentially shuttered production in the Arkansas shale play, cutting spending by 50% in its entire U.S. onshore drilling and development operations to only $2.5 billion. Wall Street analysts expect the Australian mining and energy giant to continuing cutting costs and put more of its energy assets on the block.