Giant

Encana NatGas Output Slumps, Liquids Jump

North American natural gas giant Encana Corp. saw its gas production drop 12% from a year ago, as it turned off the spigot in its wide ranging gas-rich plays. Liquids output, however, is roaring and expected to double by the end of the year.

April 29, 2013

Encana Natural Gas Output Slumps 12%

North American natural gas giant Encana Corp. saw its gas production drop 12% from a year ago, as well as its profits, as it turned off the spigot in its wide ranging gas-rich plays. A one-time hedging loss of $266 million and a nonoperating foreign exchange loss of $101 million reversed profits from a year earlier.

April 24, 2013

Kinder Poised for LNG Exports

Kinder Morgan Inc. (KMI) subsidiaries propelled the midstream giant to big profits during the first quarter of 2013, allowing it to raise the quarterly dividend 19% and aligning it for more than $12 billion of expansion and joint venture (JV) projects across North America.

April 22, 2013

Industry Briefs

BP plc completed a landmark transaction with Russian oil giant OAO Rosneft, which gives the London-based major a 20% stake in what now is the world’s largest publicly traded oil company. BP is using some of the proceeds to buy up to $8 billion of its shares over the next 12-18 months. BP agreed to sell its half-stake in Russian explorer TNK-BP to Rosneft for $17.1 billion in a cash-and-stock transaction, which gave it a 12.84% stake in the company (see NGI, Oct. 29, 2012). BP already held 1.25%, and it used $4.8 billion of the cash it received to buy another 5.66% stake. Rosneft bought the other half of TNK-BP from Alpha Group Consortium. In total, Rosneft’s transactions are worth an estimated $55 billion.

March 25, 2013

BP Completes Landmark Rosneft Tie-Up

BP plc on Thursday completed a landmark transaction with Russian oil giant OAO Rosneft, which gives the London-based major a 20% stake in what now is the world’s largest publicly traded oil company.

March 22, 2013

Phillips 66 Moves to Leverage North American Shale Oil

Midstream and downstream energy giant Phillips 66 is positioning itself to take full advantage of the ongoing North American shale oil boom by inking a number of deals to increase supplies of cost-advantaged North American crude oil to its U.S. refineries.

March 21, 2013

Williams’ Marcellus Revisions Could Change Infrastructure Plans

The Marcellus Shale’s natural gas volumes are continuing to flow higher, but significant revisions in growth expectations by pipeline giant Williams Partners Ltd. (WPZ) have led one analyst to question whether the “excellent adventure” to establish a major natural gas hub is turning into a “bogus journey.”

February 25, 2013
Williams’ Marcellus Revisions Could Change Infrastructure Plans

Williams’ Marcellus Revisions Could Change Infrastructure Plans

The Marcellus Shale’s natural gas volumes are continuing to flow higher, but significant revisions in growth expectations by pipeline giant Williams Partners Ltd. (WPZ) has led one analyst to question whether the “excellent adventure” to establish a major natural gas hub is turning into a “bogus journey.”

February 25, 2013

German E.On Group Plans U.S. Electric & Gas Trading

German energy giant E.ON Group will be opening an office in Chicago later this year to trade in the U.S. physical natural gas and power markets.

February 15, 2013

Utility, Siemens Aim for Natural Gas Fueling Share

A long-established Midwest gas utility holding company and an international industrial giant are the latest players to indicate they intend to compete in the growing natural gas transportation fuel market.

February 5, 2013