Continuing its strategy of increasing its acreage in the liquids-rich Bakken Shale and Three Forks Formation, a QEP Resources Inc. subsidiary has entered into two deals with multiple sellers to acquire “significant crude oil development properties” in the Williston Basin for an aggregate purchase price of close to $1.38 billion.
Deals
Articles from Deals
Northeast Points Lead Broad Decline, Yet Futures Inch Higher
The cash market retreated on average by 6 cents Thursday as traders elected to do their deals ahead of the release of important government inventory figures. Eastern and Northeast points took the biggest hits as forecasters were calling for unseasonably cool weather to infiltrate the Midwest and Ohio Valley, while losses in California were limited as a heat wave was expected to stay through the weekend..
Traders Ready to ‘Stick a Fork’ in Natural Gas Market
Cash prices sank Friday overall on average of about a quarter as traders who had gotten their deals done Thursday before the release of Energy Information Administration (EIA) storage data picked up where they left off. They sold early and sold often, and all points suffered declines.
Cash Softens But Futures Swoon
Cash natural gas prices dropped about 5 cents overall Thursday as traders wrapped up most deals prior to the release of government storage data. Weakness was widespread with only a handful of Northeast and eastern points staying flat or showing slight gains.
Chesapeake’s NAV Questioned by Research Analyst
Chesapeake Energy Corp.’s (CHK) financial and operating deals, impacted by low natural gas realizations, have damaged the calculated net asset value (NAV) of some of the natural gas plays in its massive portfolio, according to an analysis by ITG Investment Research.
Analyst Questions Chesapeake Net Asset Value
Chesapeake Energy Corp.’s (CHK) various financial deals have damaged the net asset value (NAV) of the company’s massive oil and natural gas portfolio, according to ITG Investment Research analysts.
Canadian Pacific to Build Frack Sand Facilities in U.S. Shale Plays
Canadian Pacific Railway Ltd. (CP) said Wednesday it was teaming up with Pennsylvania-based Smart Sand to supply Northern White sand to drillers in key North American unconventional plays beginning with the Bakken Shale, where the first of several transload facilities is planned.
Financial Transactions Cut into Chesapeake’s NAV, Says Analyst
Chesapeake Energy Corp. (CHK) is the second largest natural gas producer and one of the largest leaseholders in the United States but its various financial deals have damaged the net asset value (NAV) of its portfolio, according to ITG Investment Research.
Cash Adds an Inch, But Futures Take a Mile
The physical gas market overall rose about a penny Thursday as traders scrambled to get deals done before the release of a key government report. Maintenance on a Northeast pipeline prompted double-digit gains at several points in New England. The Energy Information Administration (EIA) reported an inventory build of 67 Bcf, which was significantly less than market expectations, and prices surged. At the close of futures trading July had soared 31.0 cents to $2.495 and August had advanced 30.5 cents to $2.541. July crude oil added $1.29 to $83.91/bbl.
S&P: Shale Surge, Low Prices Forcing ‘New Reality’ on Pipelines
The burgeoning development of shale gas plays in the United States “has changed the playing field for long-haul pipelines,” diminishing the need to move natural gas along traditional west-to-east routes and leaving large stretches of pipeline underutilized, according to a new report from Standard & Poor’s Ratings Services (S&P).