Fortunes

The fortunes of the natural gas and chemicals industries are becoming increasingly intertwined, and they will be even more so if Royal Dutch Shell plc constructs a world-class ethane cracker in the heart of the Marcellus Shale. Such a plant would handle Shell’s equity ethane production and that of third parties. And it would be a Rust Belt job-creation engine.

Southwestern Energy Co., which has built fortunes and natural gas reserves from success in the Fayetteville Shale, saw its production jump by almost a third in 2Q2010 from the same period a year ago.

Oklahoma City-based Devon Energy Corp. and cross-town rival Chesapeake Energy Corp., which both built their fortunes and their reserves by successfully drilling into shale gas formations, now have too much of a good thing and are building their liquids-rich portfolios to build their revenues, the companies said last week.

El Paso Corp.’s fortunes turned around in 4Q2009 from its year-ago losses, with adjusted earnings up 62%, the company said Monday.

El Paso Corp.’s fortunes turned around in 4Q2009 from its year-ago losses, with adjusted earnings up 62%, the company said Monday.

Denver-based Bill Barrett Corp., whose fortunes are tied to the natural gas transportation system out of its core Rocky Mountain operations, is seeing “improving infrastructure” for both gas and liquids, COO Joe Jaggers told financial analysts last week.

Denver-based Bill Barrett Corp., whose fortunes are tied to the natural gas transportation system out of its core Rocky Mountain operations, is seeing “improving infrastructure” for both gas and liquids, COO Joe Jaggers told financial analysts Tuesday.

Denver-based Bill Barrett Corp., whose fortunes are tied to the natural gas transportation system out of its core Rocky Mountain operations, is seeing “improving infrastructure” for both gas and liquids, COO Joe Jaggers told financial analysts Tuesday.

North American natural gas producers have watched their fortunes soar and dramatically fall to earth in recent months and some of them, now unable to access bank financing, are doing what they have to do to remain solvent. Independents starved for cash but weighted with healthy assets are forming joint partnerships, selling assets and waiting for what may be the inevitable: a land grab by oil majors flush with cash.