Standard & Poor’s Ratings Services (S&P) on Friday revised its outlook for Chesapeake Energy Corp. to “stable” from “negative,” citing new CEO Doug Lawler as part of the reason. The former Anadarko Petroleum Corp. executive took over in June (see Shale Daily, May 21).
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The Macondo well blowout spilled much less oil than the U.S. government estimates of 4.9 million bbl, according to a reservoir engineering expert hired by operator BP plc.
Legal holdups of oil and natural gas leases on federal lands are less likely following a federal district judge’s ruling on a five-year-old Montana case that effectively blocked an environmental steamroller, according to officials at the Denver-based Western Energy Alliance (WEA), which has represented oil and gas industry interests against environmental challenges throughout the West.
Future legal holdups of oil and natural gas leases on federal lands is now less likely following a federal district judge’s ruling on a five-year-old Montana case which effectively blocked an environmental steamroller, according to officials at the Denver-based Western Energy Alliance (WEA), which has represented oil/gas industry interests against environmental challenges throughout the West.
Stability has come to the Texas oil and gas exploration and production sector, which is a good thing for producers and for consumers, said the economist who compiles the state’s monthly Texas Petro Index (TPI).
Cash prices added less than a penny overall in Thursday’s trading as traders got their deals done ahead of the release of government inventory figures.
With projections for natural gas staying “far less expensive” than oil through 2040, substantial growth in gas use for electric generation and various industrial applications is also expected, according to the 2013 Annual Outlook by the U.S. Energy Information Administration (EIA).
Penn Virginia Corp. (PVA) is opening its Eagle Ford Shale oil window wider with the acquisition of 40,600 gross acres (19,000 net) in Gonzales and Lavaca counties, TX, for $401 million from Magnum Hunter Resources Corp. (MHR), which has set its sights, in part, on the Pearsall Shale.
North Dakota lawmakers continue holding hearings and debating the merits of energy bills to create incentives for less associated gas flaring at the wellhead and to provide tax relief for oil and gas producers, a spokesperson for the state Department of Mineral Resources (DMR) told NGI’s Shale Daily Monday.