With his seventh shale-related joint venture (JV) in hand, Chesapeake Energy Corp. CEO Aubrey McClendon said Friday the company has plans to take partners in three, maybe more, U.S. leaseholds in 2012. The long-time shale promoter also claimed a leadership position for the company in the new natural gas age.
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Articles from Hand
Marathon Paying $3.5B to Grow Eagle Ford Stake
Marathon Oil Corp. has agreed to pay $3.5 billion to acquire the Eagle Ford Shale assets of Hilcorp Resources Holdings LP. Along with other transactions expected to close by the end of this year, Marathon’s Eagle Ford position is expected to more than double to 285,000 net acres, the company said.
Chevron’s U.S. Shale Plays to ‘Generate Opportunities,’ says E&P Chief
Chevron Corp. has its hand in nearly every natural gas and oil producing basin on- and offshore around the world. But for the long term, natural gas development will be the driver, and U.S. shale plays offer “opportunities” to sustain organic growth, the company’s exploration and production (E&P) chief said last Monday.
Quebeckers Split on Hydrofracking Report; No Ban in New Brunswick
While Quebec’s announcement that hydraulic fracturing could continue on a limited basis has divided people in the province, a government official in the neighboring province of New Brunswick said a moratorium on the practice won’t be implemented there.
Chesapeake to Shed Fayetteville, Other Assets
Chesapeake Energy Corp. said Monday it plans to sell all of its Fayetteville Shale assets, as well as its equity investments in Frac Tech Holdings LLC and privately held Chaparral Energy Inc. Pre-tax proceeds could exceed $5 billion, the Oklahoma City-based company said.
Former Gov. Rendell Staying in the Spotlight
Just days after leaving office, former Pennsylvania Gov. Ed Rendell has signed on for two new positions that could allow him to keep a hand at the political table and a presence in the public forum.
West Virginia Prepares Bills to Revamp Drilling Rules
Two bills aimed at revamping West Virginia’s quarter-century-old drilling regulations are slated for introduction in the state legislature this week. The measures, variously directed at water management and horizontal drilling, would also increase horizontal well permit fees from $400 to $10,000.
Chesapeake Dropping Down Haynesville Gathering System
Chesapeake Midstream Partners LP has agreed to acquire the Spring Ridge gas gathering system and related facilities in the Haynesville Shale from Chesapeake Midstream Development LP, a subsidiary of Chesapeake Energy Corp. (Chesapeake), for $500 million cash.
Recovery Will Be Slow, Say Utility CEOs
The economy’s recovery won’t be quick, but the beginning could be close at hand, according to two Midwestern gas and power utility executives.
Constellation Forecasts Calmer Waters Ahead
With two major divestitures nearly completed and a strong liquidity position achieved, the end of an often turbulent transition period for Constellation Energy may be at hand, the company said.