Eager

U.S. landlubber SandRidge Energy Inc. has taken the wind out of the sails of investors eager to take part in an initial public offering (IPO) of Dynamic Offshore Resources LLC after agreeing to buy the Gulf of Mexico (GOM) producer outright for nearly $1.28 billion.

A natural gas market eager to see whether last week’s breakout to the upside was warranted or a bout of overzealous exuberance received confirmation of the former on Monday as the July natural gas futures contract tested resistance at $5 for a second consecutive session before closing out the day at $4.916, up 11.9 cents from Friday’s regular session finish.

Looking to replicate the numerous North American successes in recovering natural gas reserves from unconventional shale plays, a number of oil and gas majors are eager to take the new drilling technology across the pond to Europe, but Raymond James analyst Pavel Molchanov warns that while the resource potential is “definitely there,” the process “will be a marathon and not a sprint.”

In its second major announcement in less than three months, Russian super major Gazprom has signed a memorandum of understanding (MOU) with Houston-based ConocoPhillips to study development of the Shtokman natural gas field in the Barents Sea. Under the agreement, Gazprom eventually may supply liquefied natural gas (LNG) to import terminals in the United States.

Amid preparations for spring public hearings, a British Columbia government eager to capitalize on strong natural gas markets has put out a reminder that a formula has already been found once for opening up the West Coast of Canada to offshore drilling.

Amid preparations for spring public hearings, a British Columbia government eager to capitalize on strong natural gas markets has put out a reminder that a formula has already been found once for opening up the West Coast of Canada to offshore drilling.

Without mega-marketers eager to make a quick buck, gas storage developers have faced more of a challenge in recent months. But this winter’s strong Northeast demand, record high gas prices in New England, growing supply shortage and soaring volatility make a stronger case than ever for high-deliverability storage, according to two project planners.

Without mega-marketers eager to make a quick buck, gas storage developers have faced more of a challenge in recent months. But this winter’s strong Northeast demand, record high gas prices in New England, growing supply shortage and soaring volatility make a stronger case than ever for high-deliverability storage, according to two project planners.

Lenders came out in droves last week to finance the two largest merchant power plants in the nation. Panda Energy and TECO Power Services (TPS) said 40 banks participated in the general syndication, which was oversubscribed by $1.2 billion, including a 36% over-subscription on the $500 million equity bridge loan and a 62% oversubscription on the $1.7 billion non-recourse portion.