Former Anadarko Petroleum Corp. chief Jim Hackett was appointed to co-lead the Houston office of private energy investment giant Riverstone Holdings LLC. Hackett stepped down as Anadarko CEO in 2012 and retired as executive chairman in May; he still plans to pursue a master’s degree in theological studies at Harvard Divinity School, completing a two-year program over the next four years (see Daily GPI, March 12). Working at Riverstone is “a way to still stay in touch with a business I love as a principal, but to do it very much in light of my primary duty, which is to go back to school.” Riverstone, founded in 2000, has nearly $24 billion in seven investment funds, with equity invested in operators that include deepwater explorer Cobalt International Energy Inc., midstreamer Magellan Midstream Partners LP and UK shale explorer Cuadrilla Resources Ltd.
Corp
Articles from Corp
Pennsylvania Lures Flowserve Away From New Jersey
Oilfield services provider Flowserve Corp. will relocate some of its pump division operations from New Jersey to Pennsylvania, a 15-mile move that brings more than 100 jobs to a state much more supportive of the company’s bread and butter: oil and gas drilling.
Warburg-Backed Antero Files $1B IPO
Privately held Antero Resources Corp., which has all of its chips in the Appalachian Basin, plans to raise $1 billion through an initial public offering (IPO) of some of its stock on the New York Stock Exchange, it said in a filing with the Securities and Exchange Commission (SEC). The operator also has increased capital spending plans for the year.
Chesapeake Shareholders Reject Two Board Members
Chesapeake Energy Corp. shareholders on Friday soundly rejected two board members up for reelection and approved three shareholder-initiated resolutions at the company’s annual meeting in Oklahoma City, signaling a turning point for the operator’s corporate governance and likely for the future of CEO Aubrey McClendon.
Halcon Spending More on East Texas Eagle Ford
Halcon Resources Corp. said Monday it will be spending more on its East Texas Eagle Ford Shale play, known as El Halcon.
Houston + Natural Gas = Jobs, Says ExxonMobil
ExxonMobil Corp. on Friday launched a workforce training initiative to enable the Greater Houston area’s community colleges to prepare students for high-paying jobs in the re-emerging petrochemical manufacturing industry along the Texas Gulf Coast.
Industry Brief
An affiliate of Chesapeake Energy Corp. is being sued by the U.S. government for failing to pay taxes in 2001 through 2003. Chesapeake Appalachia LLC is the successor company of Triana Energy Inc., which Chesapeake purchased in 2005 as part of a transaction with Columbia Natural Resources LLC. The deal gave Chesapeake entry into the relatively unexplored Marcellus Shale, with acreage in Pennsylvania, West Virginia, Ohio, New York and Kentucky. According to a complaint filed in U.S. District Court for the Southern District of West Virginia, the United States assessed taxes against Triana in 2001 through 2003 for a total of $431,988, which as of May 17 it “has failed, neglected or refused to pay” (U.S. District Court for the Southern District of West Virginia at Charleston, No. 2:13-cv-11988). Federal officials are seeking the tax assessment and statutory additions accrued.
Questions on Chesapeake Lease Transfer Near Ohio Storage Field
Chesapeake Energy Corp. transferred nearly 1,100 oil and natural gas leases in and around an underground natural gas storage field in Columbiana County, OH, to Hilcorp Energy Co. in February.
Chesapeake Transfers Ohio Leases to Hilcorp
Chesapeake Energy Corp. has transferred nearly 1,100 oil and natural gas leases in and around an underground natural gas storage field in Ohio, to privately held Hilcorp Energy Co.
People
Jeff Shellebarger, 56, will take over as president of Chevron Corp. subsidiary Chevron North America Exploration and Production Co. on Aug. 1. Gary Luquette has helmed the unit since 2006, but he is retiring after 35 years. To help with the transition, Luquette plans to remain at Chevron until Sept. 1. Shellebarger joined Chevron in 1980 and now manages the IndoAsia business unit. As president of North America operations, Shellebarger would oversee exploration and production activity across all of the producer’s assets in the United States and Canada.
