Chesapeake Energy Corp., which continues to shed assets or secure partners to pare debt, late Monday laid plans to launch its diverse onshore oilfield services unit through an initial public offering (IPO), but the separate company would continue to be closely tied to its main customer, the Oklahoma City-based producer.
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Traders Mull Weather, Strong Rig Count; July Advances
July natural gas futures rose Friday as traders calculated that expected warmer weather would pare storage injections in upcoming weeks. At the close July had added 3.6 cents to $4.229 and August was up 3.3 cents to $4.250. August crude oil gained 14 cents to $91.16/bbl following a $4.39 plunge on Thursday.
BP to Continue Asset Sales
To meet its $30 billion divestiture target by the end of 2011 BP plc will continue to pare its assets with sales in the United States, Canada and the United Kingdom, the producer said in its annual report, which was released on Thursday.
Exchange Firms Would Rework CFTC Reporting Requirements
The Commodity Futures Trading Commission (CFTC) needs to pare down the data points required, set threshold volumes and integrate information collection in its existing reports with those encompassed in its proposed rule creating an account ownership and control report (OCR) to be filed weekly by exchange entities handling futures and derivatives trading, according to exchange operators.
Exchange Firms Would Rework CFTC Reporting Requirements
The Commodity Futures Trading Commission (CFTC) needs to pare down the data points required, set threshold volumes and integrate information collection in its existing reports with those encompassed in its proposed rule creating an account ownership and control report (OCR) to be filed weekly by exchange entities handling futures and derivatives trading, according to exchange operators.
ConocoPhillips ‘Shrinking to Grow,’ Says Mulva
ConocoPhillips is moving away from the integrated oil and gas model and will sell billions in global assets, including 10% of its North American portfolio, to pare debt and improve shareholder returns, CEO Jim Mulva said last week.
ConocoPhillips ‘Shrinking to Grow,’ Says Mulva
ConocoPhillips is moving away from the integrated oil and gas model and will sell billions in global assets, including 10% of its North American portfolio, to pare debt and improve shareholder returns, CEO Jim Mulva said Wednesday.
El Paso Sells More Asian Power Assets for $109M
In its continuing effort to pare down debt and shore up its domestic exploration and production program, El Paso Corp. on Monday announced that it has agreed to sell almost all of the rest of its Asian power assets to a subsidiary of Globeleq Ltd. for $109 million.
Oilsands Producers Hope to Go on Natural Gas Diet
The biggest mining and processing complex in the Alberta oilsands, stung by the sustained strength in natural gas prices, has set out to pare down its reliance on gas. Gas is burning up 20% of Syncrude Canada’s operating budget and the value of the natural gas has reached the point where manufacturing it from oilsands bitumen could pay off, COO Jim Carter said.
Oilsands Producers Hope to Go on Natural Gas Diet
The biggest mining and processing complex in the Alberta oilsands, stung by the sustained strength in natural gas prices, has set out to pare down its reliance on gas. Gas is burning up 20% of Syncrude Canada’s operating budget and the value of the natural gas has reached the point where manufacturing it from oilsands bitumen could pay off, COO Jim Carter said.