Chesapeake Energy Corp. on Wednesday clinched multiple agreements to sell most of its prized Permian Basin properties to heavyweights Royal Dutch Shell plc and Chevron Corp. and its remaining midstream properties to Global Infrastructure Partners (GIP), which together with other asset sales would give the cash-strapped producer total net proceeds of $6.9 billion.
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ICE, CME Grow Revenues, Trade Volumes in 4Q2010
With new financial reform rules from the Commodity Futures Trading Commission (CFTC) still looming ahead, trading exchange heavyweights IntercontinentalExchange (ICE) and CME Group Inc. this month posted strong fourth quarter and full-year earnings. ICE’s 4Q2010 revenues increased by 11% from 4Q2009 to $285 million, while CME Group recorded a 14% increase to $763 million.
ICE, CME Grow Revenues, Trade Volumes in 4Q2010
With new financial reform rules from the Commodity Futures Trading Commission (CFTC) still looming ahead, trading exchange heavyweights IntercontinentalExchange (ICE) and CME Group Inc. this month posted strong fourth quarter and full-year earnings. ICE’s 4Q2010 revenues increased by 11% from 4Q2009 to $285 million, while CME Group recorded a 14% increase to $763 million.
ICE, CME See Earnings, Volumes Heading Separate Ways
Third quarter earnings for commodity exchange heavyweights and rivals IntercontinentalExchange Inc. (ICE) and CME Group Inc. read like A Tale of Two Cities with ICE recording a 12% jump and CME Group posting a 16% drop in net incomes when compared to the companies’ respective 3Q2007 results. Likewise, ICE says it saw trading volumes rise in 3Q2008 over 3Q2007, while CME Group reported a small decline.
ICE, CME Group See Earnings, Volumes Heading Separate Ways
Third quarter earnings for commodity exchange heavyweights and rivals IntercontinentalExchange Inc. (ICE) and CME Group Inc. read like A Tale of Two Cities with ICE recording a 12% jump and CME Group posting a 16% drop in net incomes when compared to the companies’ respective 3Q2007 results. Likewise, ICE says it saw trading volumes rise in 3Q2008 over 3Q2007, while CME Group reported a small decline.
Competition Heats Up for West Coast LNG Terminal
Last week began with a couple of energy industry heavyweights announcing preliminary deals for liquefied natural gas (LNG) supplies to be brought to proposed terminals along the North Baja Pacific coast in Mexico and ended with Sempra Energy’s CEO promising to build the first LNG terminal there.
With Dynegy’s Exit from Trading, List of Former Heavyweights Grows
What a difference a year makes. As if anyone wanted to be reminded, it was Oct. 16, 2001 when Enron Corp. released its third-quarter earnings, boasting of continued growth, despite a billion-dollar write-off. Within weeks, that incidental write-off that was barely discussed during a conference call with analysts by then-CEO Ken Lay, eventually would erase the entire company (see Daily GPI, Oct. 17, 2001). Fast forward to one year later, and despite its disappearance, Enron’s once mighty shadow continues to darken the marketplace.
AEC, PanCanadian in Merger Talks
In joint releases Friday morning, Canadian heavyweights PanCanadian Energy Corp. and Alberta Energy Co.(AEC) — the fourth and fifth largest energy companies in the country — announced they are talking about a possible merger. If completed, the company would become one of the largest natural gas producers in North America. Based on Thursday’s closing on The Toronto Stock Exchange, the companies had a market value of C$19.4 billion ($12.1 billion).
AEC, PanCanadian in Merger Talks
In joint releases Friday morning, Canadian heavyweights PanCanadian Energy Corp. and Alberta Energy Co.(AEC) — the fourth and fifth largest energy companies in the country — announced they are talking about a possible merger. If completed, the company would become one of the largest natural gas producers in North America. Based on Thursday’s closing on the Toronto Stock Exchange, the companies had a market value of C$19.4 billion ($12.1 billion).
Independence, SupplyLink Lure Marketing Heavyweights
Natural gas marketers, which hadn’t given the proposedgreenfield Independence Pipeline and SupplyLink expansion a secondlook in the past, have signed up for firm transportation capacityon the controversial Midwest-to-East Coast pipeline projects, withone noting the projects were more appealing this time around. Giventhis support from marketers, sponsors say they now have enoughbinding agreements to meet FERC demands and move forward with theirprojects.