Marc Rowland, who was CFO of Chesapeake Energy Corp. before leaving to run onshore oilfield services company FTS International Inc., has been elected to the board of Warren Resources Inc. Warren, based in New York City, is an onshore domestic producer with a portfolio of assets in California, Wyoming and the Niobrara formation. Rowland had worked at Chesapeake for 18 years and served as CFO from 1993 to August 2010. He became president of FTS predecessor company Frac Tech in October 2010, three months before the company filed an initial public offering (see Daily GPI, Sept. 20, 2011). Rowland was named CEO in May 2011 and held that position until November.
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Authority Takes Consol’s Lower Bid for Allegheny Airports Lease
The Allegheny County Airport Authority (ACAA), which runs Pittsburgh International Airport and Allegheny County Airport, has accepted the lower of two bids it received to drill Marcellus Shale natural gas wells on airport property.
December 18, 2012
Big Oil to Eclipse Independents in North American Spending
North American onshore spending in 2013 is forecast to be dominated by Big Oil, international oil companies (IOC) and national oil companies (NOC), according to the latest annual review by Barclays Capital.
December 10, 2012
Consol, EQT Only Bidders for Allegheny Airports NatGas Lease
Consol Energy Inc. and EQT Corp. were the only companies to submit bids for leases to drill for natural gas on 9,263 acres at Pittsburgh International Airport and Allegheny County Airport just outside of the city, according to the Allegheny County Airport Authority (ACAA).
December 7, 2012
Cobalt Claims ‘Significant’ Discovery in Deepwater GOM
Cobalt International Energy Inc. said Wednesday it has made a “significant” discovery in the deepwater Gulf of Mexico (GOM) at the North Platte prospect on Garden Banks Block 959.
December 6, 2012
Gas Pipeline Development Facing Host of Challenges
Developing new natural gas pipeline infrastructure has become more difficult, in part due to basis compression, and the problem is not likely to end any time soon, according to an ICF International economist. In addition, the number of groups seeking to block gas pipeline projects has been steadily growing, and are likely to get more radical in the years ahead.
December 3, 2012
ExxonMobil, Chevron Output Slips
ExxonMobil Corp., whose international portfolio more often than not has fortified it from the ups and downs of the volatile commodities market, failed to outrun global uncertainty and lower U.S. natural gas prices in the third quarter, with profits off 7% year/year to $9.6 billion, $750 million less than a year ago. Production also declined to its lowest level in three years.
November 5, 2012
ExxonMobil Profits, Output Slip, But Portfolio Additions Continue
ExxonMobil Corp., whose international portfolio more often than not has fortified it from the ups and downs of the volatile commodities market, failed to outrun global uncertainty and lower U.S. natural gas prices in the third quarter, with profits off 7% year/year to $9.6 billion, $750 million less than a year ago. Production also declined to its lowest level in three years.
November 2, 2012
Magnum Hunter Buying 51,500 Appalachian Acres
Magnum Hunter Resources Corp. unit Triad Hunter LLC has agreed to buy all of privately-held Viking International Resources Co. Inc. (Virco) for $106.7 million, picking up 51,500 net Appalachian Basin mineral acres in West Virginia and Ohio.
October 29, 2012
Magnum Hunter Buying 51,500 Appalachian Acres
Magnum Hunter Resources Corp. unit Triad Hunter LLC has agreed to buy all of privately-held Viking International Resources Co. Inc. (Virco) for $106.7 million, picking up 51,500 net Appalachian Basin mineral acres in West Virginia and Ohio.
October 26, 2012
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