Chesapeake Energy Corp., which took incoming fire from all sides last week, is taking more heat about its liquidity from credit ratings agencies and energy analysts than about CEO Aubrey McClendon’s alleged financial indiscretions.
Heat
Articles from Heat
Microturbines Find New Niche in Shale Patch
A major U.S. microturbine maker has found a new niche market for its onsite combined heat-and-power generating systems. Los Angeles-based Capstone Turbine Corp. is finding rapid growth for its products in the oil and gas patch.
Alaska In-State Gasline Backer Touts Cheaper Fuel
Cheaper heat, lower prices for electricity and cleaner air all could be possible for residents of Fairbanks, AK, and rural areas with greater reliance on natural gas, according to a newly released report.
With the Heat On, Texas Turns to Gas
Blazing heat and a comparatively robust economy have driven up power demand in the Lone Star State enough to move the Electric Reliability Council of Texas (ERCOT) to contract for power from four mothballed gas-fired generating units.
Surge of Storage Bullishness Firms Cash Quotes
Even with heat forecasts in most areas remaining on the seasonal to relatively mild side for the middle of one of the hottest months in the year, prices rose at nearly all locations Friday. Largely ignoring the usual weekend downturn of industrial demand, the cash market instead derived most of its strength from the previous day’s below-expectations storage injection report for the preceding week and the subsequent bullish reaction by futures traders.
Price Moves Mostly Mixed; Northeast Leads Gains
Although there was only a fairly small return of heat in the Northeast Monday and some areas there were already due to start seeing high temperatures slacken again a few degrees Tuesday, Northeast citygates recorded most of the largest upticks of up to about 35 cents. One source suggested that Monday’s moderate temperature upticks may have spurred a little extra buying by Northeast traders to resolve unexpected Monday imbalances.
$700M NGL Pipeline to Target Permian
Activity in the Permian Basin of West Texas continues to heat up. Last week a major natural gas liquids pipeline project was announced while, separately, more producing oil and gas assets there traded hands.
Producer: More Contracting Risk in Fast-Moving Shale Patch
Activity in natural gas shale plays has tended to heat up fast, especially when producers get a whiff of liquids-rich gas. Besides buying up acreage, producers are committing to gathering, processing and transportation services, and buyer’s remorse can result from moving too fast, a Range Resources executive warned recently.
Price Increases Get Larger at Most Points
Despite a mini-heat wave in the Midwest proving to be short-lived, the cash market found enough support from the previous day’s futures spike and remaining high temperatures in much of the East to realize further gains at nearly all points Friday.
FERC Closed Due to Power Outage
More than 1,500 customers in Northeast Washington, DC, including FERC, and some customers in the Northwest section of the city were without power Wednesday due to a heat wave. Utility provider Pepco said it expected power to the affected area to be restored by midnight, but it was unclear whether the Federal Energy Regulatory Commission (FERC) would be open Thursday.