Chimera Energy Corp., which had seen its stock price increase substantially this summer based on its claims of a deal with Mexico’s state-owned petroleum company, has since lost both its CEO and almost all of its stock value in the wake of concerns about the accuracy of many of the company’s statements.
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California Gov. Jerry Brown said last Friday that he plans to take a closer look at the oil/gas industry’s use of hydraulic fracturing (fracking) in the state, speaking at a renewable energy conference at the University of California, Santa Barbara, and to news media afterwards.
With at least two cities having passed ordinances banning hydraulic fracturing (fracking) until local rules for it can be established, state legislation has been proposed (SB 88) to reiterate that the Colorado Oil and Gas Conservation Commission (COGCC) has jurisdiction to oversee the practice by oil/gas exploration and production (E&P) companies.
After securing a natural gas midstream partnership in the Horn River Basin with Kohlberg Kravis Roberts & Co. (KKR), Quicksilver Resources Inc. now is pursuing a partnership to develop its upstream leasehold, executives said Thursday.
By 2020 exploration and development across the Marcellus Shale could generate more than $6 billion in federal, state and local tax revenue and employ up to 300,000 people across the region, according to Chevron Corp. CEO John Watson.
August natural gas made it four in a row and continued to march higher Wednesday, prompted by reports showing extended heat over the eastern two-thirds of the country. At the closing bell August had risen 7.0 cents to $4.403 and September had tacked on 7.5 cents to $4.387. August crude oil rose 62 cents to $98.05/bbl.