Chesapeake

Slumping natural gas prices offset festering high prices in other corners of the economy and helped to keep overall inflation mostly in check last month. The U.S. Department of Labor said Tuesday its Consumer Price Index (CPI) increased at a rate of 3.2% in the 12-month period through February. That was up from 3.1% the…

Natural gas futures retreat from early highs as market continues monitoring signs of production decline Expiring March Nymex contract trading at $1.656 as of 2:28 p.m. ET, up 5.3 cents day/day but off from $1.730 high Bloomberg estimates put domestic production at 102.5 Bcf/d for Monday; Wood Mackenzie’s estimate at 102.9 Bcf/d Per Gelber &…

Merging the Lower 48 portfolios of Chesapeake Energy Corp. and Southwestern Energy Co. is set to create the largest natural gas pure-play in the United States, becoming a “must-own” company with the resources to redefine the global energy reach of independent producers. The $7.4 billion combination announced on Thursday was expected, as the tie-up has…

North American natural gas prices dropped dramatically in 2023 as producers maintained robust production levels, inventories grew and international markets found more balance after Russia invaded Ukraine. Read what NGI analysts learned during 3Q2023 earnings season and how they view supply and demand trends moving forward. EQT Corp. (EQT): The marginal molecule of U.S. natural…

Chesapeake Utilities Corp. has agreed to pay $923 million in cash to acquire NextEra Energy Inc. subsidiary Florida City Gas (FCG), which, once complete, is expected to more than double Chesapeake’s natural gas business in the state.  FCG, a subsidiary of NextEra’s Florida Power & Light Co., owns and operates about 3,800 miles of distribution…

Chesapeake Energy Corp. executives said Wednesday they expect to announce more deals tied to the LNG market as the company aims to expose 15-20% of its natural gas production to international trade of the super-chilled fuel.  Earlier this year, Chesapeake clinched a tentative arrangement with global commodities trader Gunvor Group Ltd. to supply up to…

It will take more than $100/bbl oil and an energy crisis in Europe for Lower 48 exploration and production (E&P) firms to substantially raise production, according to executives from three leading onshore producers who spoke at the CERAweek event in Houston. Pioneer Natural Resources Co. CEO Scott Sheffield told the CERAWeek by S&P Global conference…

After more than seven years, a federal court has given final approval to two class action settlements that would require Chesapeake Energy Corp. to pay Pennsylvania landowners more than $9 million for improperly calculating oil and gas royalties.  The U.S. District Court for the Southern District of Texas certified two settlement classes this week. The…

Chesapeake Energy Corp. on Wednesday strengthened its commitment to boost natural gas output, announcing an acquisition to bolt on acreage in the Haynesville Shale and laying out early plans to focus heavily on the play and other gas-rich assets in the Appalachian Basin next year. The company’s plan to acquire Vine Energy Inc. for $2.2…