Financial

Connecticut should build 900 miles of natural gas mains and use financial and regulatory changes to make gas available to as many as 300,000 homes and businesses, according to a draft 2012 Comprehensive Energy Strategy unveiled Friday by Gov. Dannel Malloy.

Denver-based exploration and production (E&P) independent Venoco Inc. drew attention in a recent financial commentary citing the renewed oil/gas production in formerly depleted fields in and around Los Angeles as proof that E&P activity can coexist in heavily populated urban areas (see Daily GPI, July 8).

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).

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%.

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.

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.

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.

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.

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.