Prescient planning by some U.S. explorers should enable many of them to keep their heads above water this year, but if oil prices don’t rebound by 2016, liquidity issues will surface, according to Standard & Poor’s Ratings Services (S&P).
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NGVs Gain Further Traction From Congress’ Tax Credit Extension
Heeding industry pleas from a subcommittee hearing earlier this month (see Daily GPI, Dec. 5), Congress on Tuesday extended tax credits for natural gas vehicles (NGV) that expired at the end of last year, reversing the defeat earlier in the year of a bipartisan bill from the U.S. Senate that was rejected by the House.
December 23, 2014
$150B-Plus of Upstream Projects Face Wipeout on Low Oil Prices, Says Analyst
Final investment decisions (FID) for $150 billion worth of projects, including in Canada, Alaska and the Gulf of Mexico, and liquefied natural gas (LNG) export proposals in North America, may be deferred or canceled next year as oil prices continue to fall, consulting firm Rystad Energy said Friday.
December 5, 2014
Encana Readies Spinoff of Alberta Properties
Encana Corp. is readying a spinoff of PrairieSky Royalty Ltd. to create one of Canada’s largest energy royalty companies with 5.2 million acres in Alberta that extend to the U.S. border.
April 15, 2014
Chesapeake Laying Groundwork for ‘Meaningful’ Improvement, Says Moody’s
Chesapeake Energy Corp.’s decision to launch a record $3 billion bond offering to help refinance debt drew positive remarks from two of the largest credit ratings agencies.
April 11, 2014
‘Significant’ Natural Gas Basis Differentials to Make Comeback, Says Credit Suisse
Weather in the short term rules, but beyond the first quarter, not much will change for U.S. natural gas markets, the head of global commodity energy research for Credit Suisse said Tuesday.
January 14, 2014
Ohio Lawmakers Back Tax Credits for Bi-Fuel Vehicles, Conversions
Two state lawmakers in Ohio, home of the Utica Shale play, are preparing legislation that would offer tax credits for five years for converting cars and trucks powered by gasoline or diesel fuel into bi-fuel vehicles, and for purchasing vehicles powered by gaseous fuels, including propane and compressed natural gas (CNG).
September 23, 2013
Moody’s: Quality Reserve Base Earns Range Rating Upgrade
Citing the quality of Range Resources Corp.’s reserve base, Moody’s Investors Service on Thursday upgraded the Houston-based company’s corporate family rating to “Ba1” from “Ba2” and its senior subordinate rating to “Ba2” from “Ba3.”
September 3, 2013
Chesapeake Making Progress, Now ‘Stable,’ Says Moody’s
Chesapeake Energy Corp.’s credit rating was upgraded last week by Moody’s Investors Services to “stable” from “negative” because of progress made to reduce capital spending (capex) and improve liquidity.
June 10, 2013
Moody’s Notes Chesapeake’s Progress, Raises Rating
Chesapeake Energy Corp.’s credit rating was upgraded on Tuesday by Moody’s Investors Services to “stable” from “negative” because of progress made to reduce capital spending (capex) and improve liquidity.
June 5, 2013
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