Imperial Oil Ltd., Canada’s second-largest integrated producer, on Wednesday said it would pay US$1.56 billion to gain a 50% interest in Celtic Exploration Ltd. after the unconventional operator is taken over by ExxonMobil Corp.
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Articles from After
Canadian Customers Should Lock In Low Prices Before It’s Too Late
After a five-year slide that lopped 75% off prices received by Alberta producers, Canadians are braced to bump into a floor under the buyers’ market for natural gas.
November 27, 2012
EnerVest Expects Utica Sale Before Year’s End; Barnett Picking Up
EnerVest Ltd., the second biggest leaseholder in the Utica Shale after Chesapeake Energy Corp., should complete the sale of a big chunk of its leasehold by the end of the year, CEO John Walker said Friday. The property sale could fetch as much as $6 billion for the privately held Houston operator and publicly traded arm EV Energy Partners (EVEP).
November 12, 2012
Pioneer Plying the Wolfcamp Alphabet
During the third quarter Irving, TX-based Pioneer Natural Resources Co. set a new production record in the Eagle Ford Shale, where it said its choke management program continues to improve well performance. Continued development of the Wolfcamp Shale in West Texas is setting the play up to be a “significant” contributor to production growth in the future, the company said.
November 5, 2012
Midwest, Rockies Post Stout Cash Gains; Futures Flounder Post-Sandy
With markets still a little off kilter after Hurricane Sandy left a path of destruction Monday, natural gas cash quotes averaged 4 cents higher Tuesday for Wednesday delivery with double-digit gains at Midwest and Rockies points offsetting flat Gulf quotes and a number of declines in the Northeast. At the close of trading December futures had slipped 11.2 cents to $3.691 and January was 10.8 cents lower at $3.824. December crude oil was 14 cents higher at $85.68/bbl.
October 31, 2012
Low-Cost Feedstocks Lift Dow Profits Above Expectations
Investors expecting dour third quarter earnings from Dow Chemical Co. one day after the company reported plans to cut approximately 2,400 jobs were given a bit of a surprise Wednesday as the chemical giant reported better-than expected earnings, thanks in part to abundant and low-priced natural gas.
October 25, 2012
Unconventionals Are a Huge U.S. Job Creator, Says IHS
The U.S. energy outlook is “fundamentally changed” because of the revolution in unconventional natural gas and oil production, generating strong job creation, economic growth and government revenues, IHS Inc. said Tuesday.
October 24, 2012
Alliance Offers Natural Gas Deal for BC-to-Chicago Route
Two years after shippers sent a message that they wanted a change, Alliance Pipeline Ltd. last week proposed a new deal to deliver natural gas on its 1,855-mile route between northeastern British Columbia (BC) and Chicago.
October 15, 2012
Alliance Proposes Natural Gas Deal for BC-to-Chicago Route
Two years after shippers sent a message that they wanted a change, Alliance Pipeline Ltd. on Wednesday proposed a new deal to deliver natural gas on its 1,855-mile route between northeastern British Columbia (BC) and Chicago.
October 11, 2012
BofA Nudges 2013 Natural Gas Price Forecast Up 25 Cents
With natural gas stocks at levels below the seasonal norm after a summer of market rebalancing, analysts at Bank of America Merrill Lynch (BofA) Monday lifted their 2013 average gas price forecast by 25 cents to $3.75/MMBtu.
October 9, 2012
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