Producer

Chesapeake Energy Corp. (CHK) is the second largest natural gas producer and one of the largest leaseholders in the United States but its various financial deals have damaged the net asset value (NAV) of its portfolio, according to ITG Investment Research.

Canadian junior producer MGM Energy Corp. on Thursday clinched a farm-out agreement in the Mackenzie Valley’s Canol Shale with a subsidiary of Royal Dutch Shell plc. Financial terms were not disclosed.

The first four in a series of 10 short films on energy from the director and producer of “Haynesville: A Nation’s Hunt for an Energy Future” (see Shale Daily, Nov. 23, 2010) debuted at the Aspen Ideas Festival in Colorado this week.

Global natural gas production rose 3.1% last year, with the United States leading the way as the largest producer with a growth rate of more than 7.7% from 2010, according to BP plc’s 61st annual Statistical Review of World Energy 2012.

Global natural gas production rose 3.1% last year, with the United States leading the way as the largest volumetric producer with a growth rate of more than 7.7% from 2010, according to BP plc’s 61st annual Statistical Review of World Energy 2012.

Aggregate U.S. pressure pumping supply exceeded demand late last year and in the first three months of 2012 capacity utilization averaged 93.4%, a big turnaround in a market that had been undersupplied for two years, according to a new analysis. The shift is challenging oilfield service operators, which already were noting the squeeze in quarterly conference calls.

North Dakota continued on a record-setting pace for oil and natural gas production at the end of the first quarter, but state Department of Mineral Resources Director Lynn Helms also raised caution in his most recent monthly “Director’s Cut” report released Friday.

In an attempt to bring uniformity to the exploration and production of oil and natural gas in the shale plays of the Appalachian Basin, a consortium of 11 producers Tuesday released recommended standards and practices on everything from the preparation of a regional spill and emergency response plan to the use of hydraulic fracturing (fracking) fluids, as well as for local relations and well site selection.

NiSource Midstream Services (NMS) is in “advanced discussions with a producer counterparty” about a potential joint venture (JV) to focus on gathering, processing and transporting in eastern Ohio’s Utica Shale, NiSource Inc. officials said Tuesday.