Former

Judge Dismisses Investor Lawsuit Against Chesapeake

A lawsuit alleging that Chesapeake Energy Corp. misled investors by not disclosing some liabilities and personal loans of former CEO Aubrey McClendon was dismissed Wednesday in Oklahoma federal court.

April 12, 2013

PA DEP Chief Krancer Quits; Interim Replacement Criticized

Pennsylvania Gov. Tom Corbett announced Friday that Michael Krancer, secretary of the state Department of Environmental Protection (DEP), will step down on April 15 and return to practice law in Philadelphia. But the decision to replace him on an interim basis with the governor’s deputy chief of staff is being derided by Krancer’s predecessor, John Hanger.

March 25, 2013

Would-Be Interior Secretary is a Former Fracker

President Obama’s nominee for Interior secretary, Sally Jewell, former CEO of Recreational Equipment Inc. (REI), told a Senate panel Thursday that she will pursue a balanced approach to developing energy resources on public lands if confirmed by the Senate.

March 11, 2013

Would-Be Interior Secretary Has Fracking in Background

President Obama’s nominee for Interior secretary, Sally Jewell, former CEO of Recreational Equipment Inc. (REI), told a Senate panel Thursday that she will pursue a balanced approach to developing energy resources on public lands if confirmed by the Senate.

March 8, 2013

U.S. Interior Secretary Nominee is a Former Fracker

President Obama’s nominee for Interior secretary, Sally Jewell, former CEO of Recreational Equipment Inc. (REI), told a Senate panel Thursday that she can do something that probably no other department nominee could: hydraulically fracture (frack) a well.

March 8, 2013

New Midstream Company Targeting Liquids-Rich Utica

Crosstex Energy Inc. and former management of Enerven Compression Services are forming a company called E2 that will serve Utica Shale producers with natural gas compression and condensate stabilization facilities for their liquids-rich production.

March 7, 2013

Industry Briefs

Kinder Morgan Energy Partners LP (KMP) has completed the dropdown of 50% of El Paso Natural Gas Co. LLC (EPNG) and 50% of the former El Paso Midstream assets in Utah and South Texas from Kinder Morgan Inc. in a deal worth nearly $1.66 billion, including $560 million of proportional debt at EPNG. KMP now owns 100% of both EPNG and the midstream assets. The transaction closed on and is effective March 1. KMP purchased the assets at about eight times 2013 earnings. EPNG is a 10,200-mile pipeline with a design capacity of 5.6 Bcf/d. It transports gas from the San Juan, Permian and Anadarko basins to California, other western states, Texas and northern Mexico. The midstream assets include Altamont gathering, processing and treating assets in the Uinta Basin in Utah and the Camino Real gathering system in the Eagle Ford Shale in South Texas.

March 4, 2013

Ultra CEO: 2012 ‘A Train Wreck’

Darrell Royal, the revered former head coach for the University of Texas football team, used to explain his team’s success by paraphrasing a line from a 1920s song, “You dance with the one that brung ya.” Ultra Petroleum Corp., which has stuck with natural gas while others have moved along, is discovering that gas can be one expensive date.

February 25, 2013

Ultra CEO: ‘2012 Was A Train Wreck’

Darrell Royal, the revered former head coach for the University of Texas football team, used to explain his team’s success by borrowing a line from a 1920s song, “You dance with the one that brung ya.” Ultra Petroleum Corp., which has stuck with natural gas while others have moved along, is discovering that gas can be one expensive date.

February 20, 2013

BP: Market Manipulation Allegations ‘Without Merit’

BP plc’s former chief of natural gas liquids trading has accused the company of wrongfully firing him to manipulate the U.S. market.

February 5, 2013