Investors

Chesapeake Energy Corp. continues to look for a new CEO but it has no timetable on when one might be in place, acting chief Steven C. Dixon said last week. Dixon, who served as a lieutenant to former CEO Aubrey McClendon for 22 years and has been COO, will run the company as the search for a permanent chief continues.

Canadian Pan Ocean Ltd., funded by Asian investors, has put together an operating company in the liquids-rich Duvernay Shale in southwestern Alberta, executing a binding term sheet for a farm-out agreement with Canadian producer Mako Hydrocarbons Ltd. for the producer’s 50% working interest in its Alberta Joint Venture (AJV).

McMoRan Exploration Co., which has kept investors dangling with promises that its Davy Jones natural gas discovery in the shallow waters of the Gulf of Mexico (GOM) would be flowing 50 MMcf/d by now, saw its shares plunge last week after the company admitted that it still is struggling to bring the prospective well online.

McMoRan Exploration Co., which has kept investors dangling with promises that its Davy Jones natural gas discovery in the shallow waters of the Gulf of Mexico (GOM) would be flowing 50 MMcf/d by now, saw its shares plunge by more than 20% on Monday and another 15%-plus early Tuesday after the company admitted that it still is struggling to bring the prospective well online.

Lower-than-expected natural gas inventories have led Moody’s Investors Service to lift its assumptions for North American Henry Hub natural gas spot prices by 50 cents to $3.50/MMBtu in 2013 and $4.00/MMBtu in 2014 and thereafter.

One of SandRidge Energy’s largest investors, hedge fund TPG-Axon Capital, is calling on the Oklahoma City-based exploration and production company to replace its CEO, realign its board of directors and consider the possible sale of the company.

One of SandRidge Energy’s largest investors, hedge fund TPG-Axon Capital, is calling on the Oklahoma City-based exploration and production company to replace its CEO, realign its board of directors and consider the possible sale of the company.

Propelled by its U.S. onshore crude oil and liquids output, EOG Resources Inc. reported better-than-expected profits for the third quarter. Investors in return sent the stock price up 4.37% on Tuesday.

Investors expecting dour third quarter earnings from Dow Chemical Co. one day after the company reported plans to cut approximately 2,400 jobs were given a bit of a surprise Wednesday as the chemical giant reported better-than expected earnings, thanks in part to abundant and low-priced natural gas.