A modest six land-based rigs returned to service in the United States during the week ending Friday, according to Baker Hughes Inc. Two of those returning were in the Haynesville, which has surpassed its year-ago activity level.
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Briefs — Schlumberger-Cameron, FERC, Marcellus Shale Coalition
Cameron International Corp. stockholders have overwhelmingly voted for the proposed $14.8 billion takeover by Schlumberger Ltd. (see Shale Daily,Aug. 27). Once the transaction is completed, which is expected in early 2016, each share of Cameron common stock would convert into the right to receive 0.716 shares of Schlumberger stock and a cash payment of $14.44/share. The merger partners said the transaction would create the first “complete” drilling and production services oilfield operator with “pore-to-pipeline” products and services. The deal remains subject to regulatory approvals.
Energy Woes Push Moody’s Liquidity Stress Index Higher
Lower oil and natural gas prices pushed Moody’s Investor Services’ Liquidity Stress Index (LSI) to its highest level in almost five years, with the energy LSI at its highest level since January 2010, the credit ratings agency said Wednesday.
Medium-Term Weather Moderating Still; January Called 11 Cents Lower
January natural gas is expected to open 11 cents lower Monday morning at $3.98 as the market extends Friday’s 27-cent drop on the heels of a more tempered weather outlook. Overnight oil markets were mixed.
S&P Sees Promise in Chesapeake Going Forward
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).
Rail Delivery of U.S. Crude Through June Up 48% From Year Ago
U.S. domestic crude oil production is at its highest level in 20 years, outstripping pipeline capacity and, increasingly, making its way to refineries and storage centers via railroads, according to the Energy Information Administration (EIA).
Rail Delivery of U.S. Crude Through June Up 48% From Year Ago
U.S. domestic crude oil production is at its highest level in 20 years, outstripping pipeline capacity and, increasingly, making its way to refineries and storage centers via railroads, according to the Energy Information Administration (EIA).
Alberta’s NatGas Royalties Take Big Plunge
Alberta natural gas royalties, a health benchmark of the Canadian supply industry, plunged to their lowest level in a generation in the government fiscal year that ended March 31.
Alberta’s NatGas Royalties Were Anemic Last Fiscal Year
Alberta natural gas royalties, a health benchmark of the Canadian supply industry, plunged to their lowest level in a generation in the government fiscal year that ended March 31.
Energy Independence in Sight, Says Chesapeake’s Dunham
With the “right kind of leadership” and regulatory environment, the United States could be just 10 years from achieving energy independence, Chesapeake Energy Corp.’s nonexecutive Chairman Archie Dunham said Friday.