Standard & Poor’s Ratings Services (S&P) on Friday revised its outlook for Chesapeake Energy Corp. to “stable” from “negative,” citing new CEO Doug Lawler as part of the reason. The former Anadarko Petroleum Corp. executive took over in June (see Shale Daily, May 21).
Articles from Citing
Chesapeake Gets Ratings Boost from S&P
Standard & Poor’s Ratings Services (S&P) on Friday revised its outlook for Chesapeake Energy Corp. to “stable” from “negative,” citing the new CEO as part of the reason. Former Anadarko Petroleum Corp. executive Doug Lawler took over in June (see NGI, May 27).
CPUC Gives Staff More Authority to Issue Safety Fines
Citing the action as an attempt to prevent public safety and environmental degradation, the California Public Utilities Commission (CPUC) on Thursday approved a citation program under which its staff can levy fines, payable by shareholders, against public utilities.
Revised Frack Rule Said to Weaken Public Land Requirements
Citing “intense pressure” from industry and its allies in Congress, a New Jersey congressman said Wednesday that the Interior Department appears to be making its proposed rules governing hydraulic fracturing (fracking) of oil and gas wells on public lands weaker, not stronger.
PDC Production Up on Wattenberg Play; Liquids Hit Record
Citing drilling and acquisitions it made last year in the Wattenberg field north of Denver, PDC Energy Inc. on Wednesday reported a 19% jump in production in the first quarter, compared with the same period last year, and record output of more than 10,000 b/d of liquids.
Wyoming Coal Mine Development Stopped
Citing a lack of market, the developers of a new coal mine in southwestern Wyoming on Thursday said they were suspending development after a year of work. The actions underscore concerns expressed in Wyoming and elsewhere about the state of the U.S. coal industry.
Marcellus Water Study Finds Chloride and TSS Risk, But Spill Unlikely
Water samples taken downstream of facilities authorized to treat wastewater from natural gas wells in the Marcellus Shale had elevated concentrations of chloride but not total suspended solids (TSS), although the obverse was true in samples collected downstream of watersheds with shale gas wells drilled on them, according to a report published in the Proceedings of National Academies of Sciences (PNAS).
Moody’s Cuts Rockies Express Outlook to ‘Negative’
Moody’s Investor Service on Wednesday said it was changing its outlook for Rockies Express Pipeline LLC (REX) from “stable” to “negative,” citing concerns over a possible decline in the natural gas pipeline company’s earnings in late 2014 and its long-term competitiveness.
Citing a recent U.S. Department of Energy-commissioned study that supports export of liquefied natural gas (LNG) from the United States (see Daily GPI, Dec. 6), Teekay LNG Partners LP said it has entered into an agreement with Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) of South Korea for the construction of two 173,400-cubic meter LNG tankers, with options to order up to three additional vessels. The partnership said it intends to secure long-term contract employment for both vessels prior to their delivery in the first half of 2016. “The delivery of these vessels is timed to coincide with the next wave of increased demand for LNG carriers, which is expected when a large number of new LNG export projects come on-stream commencing from late-2015,” said Teekay GP LLC CEO Peter Evensen. “They are also among the largest LNG carriers that will be able to transit the Panama Canal after its expansion project is complete, which makes them ideal for U.S. LNG exports.”
Sempra Expects Cameron Export Project Approval in Late 2013
Citing jobs creation and other positive domestic economic multipliers, San Diego-based Sempra Energy on Monday filed with FERC for approval to construct liquefaction and export facilities at its existing Cameron liquefied natural gas (LNG) terminal in Hackberry, LA.