Bank

Antero Resources agreed to sell its Woodford Shale midstream assets to affiliates of Cardinal Midstream LLC for $268 million in cash, it said Friday.

Chesapeake Energy Corp. has sold a five-year volumetric production payment (VPP) to an affiliate of Barclays Bank PLC for proceeds of $1.15 billion related to its production from the Barnett Shale of North Texas. The deal, which closed on Sept. 30, includes about 390 Bcf of proved reserves and about 280 MMcf/d net production in 2011. Chesapeake retained drilling rights on the properties below currently producing intervals and outside existing producing wellbores. Since December 2007 Chesapeake has completed eight VPP transactions and monetized approximately 1 Tcfe of proved reserves for combined proceeds of approximately $4.7 billion, or approximately $4.70/Mcfe (see Daily GPI, May 6). Earlier this year Chesapeake announced a reorganization of its natural gas operations in a plan to raise up to $5 billion to repay up to $3.5 billion of senior debt and to increase its investment in liquids-rich plays by up to $1.5 billion (see Daily GPI, May 11). Jefferies & Company Inc. was adviser to Chesapeake on the latest VPP transaction.

San Diego-based Sempra Energy and the Royal Bank of Scotland (RBS) on Thursday said RBS Sempra Commodities, their joint venture trading unit, had completed its previously announced $1.6 billion sale of select operations to J.P. Morgan, the investment banking arm of JPMorgan Chase & Co. It includes the joint venture’s European and Asian operations.

San Diego-based Sempra Energy and the Royal Bank of Scotland (RBS) on Thursday said RBS Sempra Commodities, their joint venture trading unit, had completed its previously announced $1.6 billion sale of select operations to J.P. Morgan, the investment banking arm of JPMorgan Chase & Co. It includes the joint venture’s European and Asian operations.

The Gulf of Mexico (GOM) deepwater drilling moratorium could impact natural gas supplies and prices more than oil, Bank of America Merrill Lynch (BofA) said in a new report. Separately some energy analysts last week also lamented the moratorium’s effect not only on energy supplies and related companies, but on the region as well.

The Gulf of Mexico (GOM) deepwater drilling moratorium could impact natural gas supplies and prices more than oil, Bank of America Merrill Lynch (BofA) said in a new report.

Sempra Energy’s once-lucrative joint venture commodities business with the Royal Bank of Scotland, RBS Sempra Commodities, should be dissolved by the end of August, CEO Donald Felsinger said Tuesday while the company reported greatly reduced earnings for the first quarter. The exit from trading and a one-time earnings hit from a settlement with California state entities contributed to the earnings decline.

The U.S. Commodity Futures Trading Commission (CFTC) has settled charges against Robert Moore of Connecticut, former executive managing director for the Bank of Montreal’s (BMO) Commodity Derivatives Group, relating to the mismarking and misvaluing of BMO’s natural gas options book by a trader he supervised, the CFTC said Monday.

The U.S. Commodity Futures Trading Commission (CFTC) has settled charges against Robert Moore of Connecticut, former executive managing director for the Bank of Montreal’s (BMO) Commodity Derivatives Group, relating to the mismarking and misvaluing of BMO’s natural gas options book by a trader he supervised, the CFTC said Monday.