Analysts believe operators in the Utica Shale will soon be able to bring many of their wells into production, thanks to progress in building new gathering lines, but they also caution that investors may have set their expectations too high for areas outside of the play’s core.
Articles from Listed
The University of Tennessee’s Institute of Agriculture (UTIA) is seeking an industry partner for a proposed research project to investigate impacts of natural gas and oil exploration, as well as development from shale formations, in East Tennessee and the wider region.
Over the last two years nearly 70% of the new power generation plants proposed for the 13-state PJM Interconnection electric grid, which centers on the Marcellus and Utica Shales, would be fired by natural gas.
Private hedge fund operator Third Point LLC, which is run by activist investor Daniel Loeb, listed Chesapeake Energy Corp. as one of the fund’s largest new holdings in a June exposure report to investors, according to several market followers.
While North Dakota has ridden the shale boom to the nation’s lowest unemployment and a rush of activity for local economies, residents with long memories are cautious, having experienced boom-bust cycles in the oil patch in the past.
In the article “Pennsylvania Marcellus Shale Gas Production Jumps” (see Shale Daily, Aug. 17), NGI’s Shale Daily incorrectly listed the well counts for the major producers in Pennsylvania by including wells that had been permitted, but not yet drilled. In actuality, Chesapeake Energy Corp. produced from 110 wells, not 1,286 wells. Talisman Energy Inc. produced from 185 wells, not 684 wells. Cabot Oil & Gas Corp. produced from 117 wells, not 261 wells. Range Resources Corp. produced from 240 wells, not 632 wells, and EQT Corp. produced from 49 wells, not 355 wells. NGI’s Shale Daily regrets the error.
ExxonMobil Corp. regained the top spot in a ranking of the 50 largest listed energy companies in 2010, lifted by its buyout of XTO Energy Inc. and a 7% gain in share price growth, according to the PFC Energy 50 annual ranking.
A study commissioned by the state of Alaska paints a picture of rising costs in North American shale gas plays and higher gas prices in the years ahead that lend support to the case for a gas pipeline from the state’s North Slope to serve Lower 48 markets.
UBS AG has launched an exchange-traded note (ETN) listed on the New York Stock Exchange Arca (Archipelago Exchange) under ticker symbol “MLPG” that provides investors single-security exposure to the Alerian Natural Gas MLP (master limited partnership) Index, a midstream-focused subset of MLPs whose constituents earn the majority of their cash flow from the transportation, storage and processing of natural gas and natural gas liquids. The index provides exposure to the expansion of gas infrastructure, as well as the investment required to accommodate geographical supply shifts associated with shale gas development. The ETN will track the change in value of the Alerian Natural Gas MLP Index and pass on the corresponding distributions from the underlying companies as a quarterly coupon, net of fees.