North American natural gas heavyweight Encana Corp. on Wednesday reported a $1.24 billion net loss in 3Q2012, primarily from the impact of low natural gas prices.
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Baker Hughes Building Infrastructure as Producers Shift to Liquids
Oilfield services heavyweight Baker Hughes Inc. plans to “significantly” increase North American onshore infrastructure investments in several basins to make its operations more efficient and to prepare for the long term, CEO Martin Craighead said Tuesday.
Total to Make U.S. Unconventionals Push
The U.S. arm of French heavyweight Total SA expects to add North American unconventional properties to its portfolio either through joint ventures (JV) or by itself, a top executive said last week.
Total Looking for U.S. Unconventional Properties Through JVs or Separately, Says Exec
The U.S. arm of French heavyweight Total SA expects to add North American unconventional properties to its portfolio either through joint ventures (JV) or by itself, a top executive said Wednesday.
Statoil to Acquire Brigham and With It, Williston Entry
Norwegian heavyweight Statoil ASA, which already holds substantial assets in the Marcellus and Eagle Ford shales, has a deal on the table to acquire Austin, TX-based independent Brigham Exploration Co., which would give it access to the Williston Basin’s Bakken and Three Forks oily formations.
Statoil to Acquire Brigham and With It, Williston Entry
Norwegian heavyweight Statoil ASA, which already holds substantial assets in the Marcellus and Eagle Ford shales, has a deal on the table to acquire Austin, TX-based independent Brigham Exploration Co., which would give it access to the Williston Basin’s Bakken and Three Forks oily formations.
Chesapeake Shares Fall After 1Q Results Released
Shale patch heavyweight Chesapeake Energy Corp. has reached its debt reduction goal, built an internal oilfield services unit to counter cost inflation and grew first quarter production 20% as it increasingly emphasized higher-value oil and natural gas liquids (NGL), CEO Aubrey McClendon enthused during an earnings conference call Tuesday. But Wall Street was not impressed.
Another International Heavyweight Buys Into U.S. Shales
Australian energy giant BHP Billiton Petroleum has become the latest international energy heavyweight to buy into U.S. shale plays with a transaction to acquire Chesapeake Energy Corp.’s Fayetteville Shale portfolio for $4.75 billion cash.
Encana Ups Spending, Production Guidance
Natural gas heavyweight Encana Corp. last week said better-than-expected results in North American unconventional plays will allow it to bump up 2010 production guidance by 65 MMcfe/d and increase capital spending by $500 million.
ConocoPhillips to Sell $10B in Assets to Improve Financial Position
Oil and gas heavyweight ConocoPhillips said last week it is planning on divesting billions of dollars in assets over the next two years as part of a plan to improve its financial position and increase returns on capital. The company said it plans to achieve its goals through a combination of enhanced capital discipline and portfolio rationalization.