Chesapeake Energy Corp., which has used a variety of savvy financial means to raise money for exploring and developing its vast unconventional portfolio in the United States, is preparing to launch its diverse onshore oilfield services unit through an initial public offering (IPO), a separate company that would continue to be closely tied to its main customer, the Oklahoma City-based producer.
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Chesapeake, 3M to Build Bigger, Less Costly CNG Tanks
Chesapeake Energy Corp. said Tuesday it will fund an effort by 3M to design, manufacture and market a “broad” portfolio of compressed natural gas (CNG) tanks for use in all sectors of the U.S. transportation market. According to the partners, the fuel tank on a CNG vehicle is the most expensive single component and less expensive tanks would enable CNG to be more widely adopted as an alternative vehicle fuel source.
February 22, 2012
Victory Completes Prospect Well in New Mexico
Victory Energy Corp. said Thursday a carbonite formation well in southeastern New Mexico it holds an interest in has been successfully re-entered, five years after being plugged, and is now completed, fracked and producing oil and natural gas.
January 3, 2012
Nexen Readies GOM, Unconventional Development in 2012
Nexen Inc., whose portfolio is spread across North America and overseas, on Tuesday laid out its 2012 strategy, which includes new drilling in the Gulf of Mexico (GOM) and taking as a partner Japan’s largest exploration and production (E&P) company to ramp up unconventional natural gas development in northeastern British Columbia (BC).
November 30, 2011
ExxonMobil Nearly Doubles Marcellus Leasehold
ExxonMobil Corp., the nation’s largest onshore natural gas producer, has added another 317,000 net acres to its Marcellus Shale portfolio, which nearly doubles its leasehold in the play.
June 13, 2011
Edison CEO: Renewable Goal Tied to Gas, Transmission
Raising concerns of infrastructure and costs regarding the state’s 33% renewable portfolio standard (RPS) goal for 2020, Edison International CEO Ted Craver said last Monday his company’s utility is focusing on building new transmission and resolving the current uncertainty surrounding the state’s fleet of 20 coastal natural gas-fired generation plants. Craver made the comments in a first quarter earnings conference call with financial analysts.
May 9, 2011
Apache Posts Record 1Q Production
Apache Corp. CEO Steve Farris last week credited the company’s portfolio and employees for helping achieve record oil-equivalent production and the third-highest quarter for earnings during 1Q2011, and he predicted that exploration would grow in Oklahoma and Texas.
May 3, 2011
Edison CEO: California 33% RPS Tied to Gas, Transmission
Raising concerns of infrastructure and costs regarding the state’s 33% renewable portfolio standard (RPS) goal for 2020, Edison International CEO Ted Craver said Monday his company’s utility is focusing on building new transmission and resolving the current uncertainty surrounding the state’s fleet of 20 coastal natural gas-fired generation plants. Craver made the comments in a first quarter earnings conference call with financial analysts.
May 3, 2011
ConocoPhillips Shrinks North American Gas Output
Lower 48 and Canadian natural gas production has fallen steadily for the past two years and has become a “shrinking part of the portfolio” for ConocoPhillips, CFO Jeff Sheets said Wednesday.
April 28, 2011
Range Increasing Liquids Production From Gas Plays
Leveraging its liquids-rich portfolio from the Texas Panhandle to northeast Pennsylvania, Range Resources Corp. posted record production volumes in the first quarter of the year despite weak prices.
April 20, 2011
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