Develop

Chesapeake Energy Corp.’s continued acquisitiveness this year has given the producer an even bigger bag of domestic shale prospects to develop, but the buying spree, plus questions about its accounting practices, has drawn a “sell” recommendation from one veteran analyst.

With shipper contracts expiring in 2015, Alliance Pipeline Ltd. said last Friday it will develop receipt and short-haul services to complement its “bullet line” service from Western Canada to Chicago, as well as provide hub services such as the Natural Gas Exchange and the Alliance Chicago Exchange project.

Chesapeake Energy Corp.’s continued acquisitiveness this year has given the producer an even bigger bag of domestic shale prospects to develop, but the buying spree and questions about its accounting practices have drawn a “sell” recommendation from one veteran analyst.

With shipper contracts expiring in 2015, Alliance Pipeline Ltd. said Friday it will develop receipt and short-haul services to complement its “bullet line” service from Western Canada to Chicago, as well as provide hub services such as the Natural Gas Exchange and the Alliance Chicago Exchange project.

An El Paso Corp. subsidiary and Spectra Energy Corp. have executed a memorandum of understanding to jointly develop the proposed Marcellus Ethane Pipeline System (MEPS) project.

The Obama administration conceded that its new drilling safety regulations will cost producers more to develop wells, delay the production of energy on the Outer Continental Shelf (OCS) and increase consumer energy costs.

Cabot Oil & Gas Corp. is seeking a joint venture (JV) partner to develop its Haynesville and Mid-Bossier Shale leasehold in San Augustine, Nacogdoches and Sabine counties in East Texas. And East Texas Oil & Gas LLC (ETOG) is offering an East Texas JV opportunity in Leon, Madison, Brazos and Robertson counties.

Seneca Resources Corp., a subsidiary of National Fuel Gas Co., is in the hunt to secure more joint venture (JV) partners to help develop the company’s Marcellus Shale portfolio, company officials said Wednesday.

With the Marcellus Shale as its guide, exploration and production (E&P) companies are pressing Quebec officials to give them some running room to develop the Utica Shale, a deep gassy play that extends across the St. Lawrence Lowlands and into the Lower 48 states.