Financial

Canadian Gas Export Revenues Tumble 48% in 1H2012

Canadian natural gas dealers took a cold financial bath in the first half of this year, when downpours of falling sales volumes and prices cut their export revenues by 48%. Pipeline deliveries from Canada into the United States dropped 8% to 1.5 Tcf in the first half of 2012 (IH2012), down from 1.64 Tcf in the same period of 2011, according to trade records kept by the National Energy Board (NEB).

August 27, 2012

Canadian Gas Export Revenues Tumbled 48% in 1H2012

Canadian natural gas dealers took a cold financial bath in the first half of this year, when downpours of falling sales volumes and prices cut their export revenues by 48%.

August 20, 2012

BC Gas Tightly Linked to Asia, Says CERI

Asian markets offer the best financial outlet for the abundant natural gas supplies in British Columbia (BC), the Canadian Energy Research Institute (CERI) has concluded in a new report.

August 20, 2012

Economic Sense Has BC Gas Heading to Asia, Report Finds

Asian markets offer the best financial outlet for the abundant natural gas supplies in British Columbia (BC), the Canadian Energy Research Institute (CERI) has concluded in a new report.

August 20, 2012

Chesapeake Confirms DOJ Antitrust Investigation

Three days after reporting an upbeat financial and operating performance in the second quarter, Chesapeake Energy Corp. said in a regulatory filing on Thursday it was subpoenaed in late June by the Department of Justice’s Midwest Field Office antitrust division.

August 13, 2012

NOV Shopping Spree Continues with $2.5B Robbins & Myers Deal

National Oilwell Varco Inc. (NOV), which this year has completed six acquisitions worth $2 billion, on Thursday continued its shopping spree with a $2.5 billion cash offer for Texas operator Robbins & Myers (R&M). The deal would mark NOV’s biggest single acquisition since 2008, when it paid $7.7 billion to buy Grant Prideco.

August 10, 2012

BHP Takes US$2.8B Charge on Fayetteville Fail

Australia’s BHP Billiton Ltd. is taking a US$2.84 billion pre-tax charge against the value of dry gas assets in the Fayetteville Shale that it acquired just last year due to weak natural gas prices and oversupply.

August 7, 2012

Former Presidents Are Stars of New Natural Gas Industry Ad Campaign

Six former presidents will be appearing in commercials supporting natural gas that will air in theaters before motion pictures this summer, thanks to a new advertising campaign by the American Clean Skies Foundation (ACSF), a nonprofit natural gas advocacy group.

June 4, 2012

Chesapeake Blames Media, Then Withdraws Statement

A new investor presentation posted early Tuesday by Chesapeake Energy Corp. offered 32 pages of onshore production and financial numbers, as well as a full-page statement that opened the document with the headline, “It’s been a tough five weeks, but better days ahead.” By Tuesday afternoon the page, originally the second page of the 32-page presentation, had been deleted with no explanation.

May 23, 2012

San Bruno ‘Closure’ Coming, But PG&E Still Faces Criticism, Says CEO

The CEO of Pacific Gas and Electric Co. (PG&E) told financial analysts Wednesday that “closure” is coming for the fatal natural pipeline tragedy in San Bruno, CA, in September 2010, but before it is reached the combination utility will be subjected to more public scrutiny.

May 3, 2012