Paying

General Electric’s Bet on Energy Paying Off

General Electric’s (GE) ever-larger bet on energy, particularly the oil and natural gas equipment sector, appears to be paying off as the industrial conglomerate on Friday reported stronger-than-expected profits for 4Q2012.

January 22, 2013

Big Oil to Eclipse Independents in North American Spending

North American onshore spending in 2013 is forecast to be dominated by Big Oil, international oil companies (IOC) and national oil companies (NOC), according to the latest annual review by Barclays Capital.

December 10, 2012

Plains Exploration Pays $6.1B for GOM Assets

Houston-based Plains Exploration & Production Co. is paying $5.55 billion for deepwater Gulf of Mexico (GOM) oil and gas properties it is acquiring from BP Exploration & Production Inc. and BP America Production Co. A separate deal with Shell Offshore Inc. in the GOM is worth another $560 million.

September 17, 2012

Plains Exploration Spending $6.1B on BP, Shell GOM Assets

Houston-based Plains Exploration & Production Co. is paying $5.55 billion for deepwater Gulf of Mexico (GOM) oil and gas properties it is acquiring from BP Exploration & Production Inc. and BP America Production Co. A separate deal with Shell Offshore Inc. in the GOM is worth another $560 million.

September 11, 2012

NOV Pays $2.5B for Oilfield Provider Robbins & Myers

Houston-based National Oilwell Varco Inc. (NOV) said Thursday it is paying cash to buy oilfield service provider Robbins & Myers (R&M) in a transaction valued at $2.5 billion.

August 10, 2012

Nabors: One-Two Punch from Pressure Pumping, Costs Hurt 2Q

Nabors Industries Ltd., North America’s largest onshore drilling contractor, expects operating results in the second quarter to fall below Wall Street expectations, primarily because of a slump in pressure pumping services and higher operations costs. To improve efficiencies, the company plans to consolidate its U.S. well servicing and pressure pumping operations.

July 18, 2012

Sempra Natural Gas Utility Pipe Plans Questioned

More long-term detail needs to be given and more consideration for who is paying for the proposed $1.4 billion, four-year upgrade to the plans submitted by Sempra Energy’s Southern California Gas Co. (SoCalGas) for its natural gas pipelines, which were submitted last year to the California Public Utilities Commission (CPUC), according to the Division of Ratepayer Advocates (DRA), the commission’s ratepayer advocacy unit.

July 10, 2012

Tillerson: Fracking Is a Sipper, Not a Gulper

Two and a half million gallons sounds like a lot of water, and producers can use that much and more to stimulate a well with hydraulic fracturing (fracking), but other uses consume a lot more, ExxonMobil CEO Rex Tillerson told an audience on the Council on Foreign Relations Wednesday.

June 29, 2012

Regulator Questions Georgia Marketers’ Gas Prices

An apparent disparity between continued low wholesale natural gas prices and the amount Atlanta-area consumers are paying for natural gas needs to be cleared up by Georgia marketers, according to Stan Wise, chairman of the state’s Public Service Commission (PSC).

January 5, 2012

Total Takes 25% Stake in Chesapeake’s Utica Leasehold

As has been rumored for weeks, French energy giant Total SA is paying $2.32 billion to acquire a one-quarter stake in Chesapeake Energy Corp.’s massive Utica Shale leasehold in Ohio in the second big partnership targeting unconventional oil and gas between the companies.

January 4, 2012