Berry Petroleum Co., which plucked a bushel of natural gas-rich acreage in East Texas last month, sees some opportunity for bolt-on acquisitions, the CEO said Friday.
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CEO: Berry Ripe for More Deals in East Texas, Piceance
Berry Petroleum Co., which plucked a bushel of natural gas-rich acreage in East Texas last month, sees some opportunity for bolt-on acquisitions, the CEO said Friday.
Summer Price Outlook: Is the Cavern Half Full or Half Empty?
While one analyst team sees a 50% chance for a late-summer gas price collapse, another warned last week that a projected 250 Bcf year-over-year storage deficit at injection season’s end could set the stage for Henry Hub price spikes, given the continued dearth of incremental liquefied natural gas (LNG) supplies available to the United States.
Summer Price Outlook: Is the Cavern Half Full or Half Empty?
While one analyst team sees a 50% chance for a late-summer gas price collapse, another warned this week that a projected 250 Bcf year-over-year storage deficit at injection season’s end could set the stage for Henry Hub price spikes, given the continued dearth of incremental liquefied natural gas (LNG) supplies available to the United States.
Chesapeake Energy, Now No. 6, Gunning to be Top U.S. Gas Producer
Chesapeake Energy CEO Aubrey McClendon has made no secret that he sees a market growth play for natural gas in growing concern over global warming and disaffection for “dirty” coal-fired power plants. And last week he minced no words in promising that his company has the natural gas to fuel much of the power generation the country will need. If McClendon is right, Chesapeake could be the nation’s No. 3 gas producer by year-end and No. 1 in as few as 18 months.
Chesapeake Passes ExxonMobil, Now Sixth Largest U.S. Gas Producer
Chesapeake Energy CEO Aubrey McClendon has made no secret that he sees a market growth play for natural gas in growing concern over global warming and disaffection for “dirty” coal-fired power plants. And Friday he minced no words in promising that his company has the natural gas to fuel much of the power generation the country will need. If McClendon is right, Chesapeake could be the nation’s No. 3 gas producer by year-end and No. 1 in as few as 18 months.
Sempra Trading Head Sees Steady Revenues, Profits for Next Three Years
Characterizing his energy trading unit as having “tremendous liquidity and highly ample capital,” the head of Sempra Energy Commodities said he sees the environment for trading remaining mostly unchanged through 2009 with annual profits in the $350-450 million range. David Messer spoke at a financial analysts meeting hosted by Sempra in San Diego Thursday.
EIA: Working Gas to Finish Winter at Highest Level Since ’91
Assuming normal weather for the remainder of winter, working gas in storage is expected to finish out the 2006-2007 heating season at the highest level since 1991, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook for February.
EOG, Apache Warn Prices, Costs Threaten North American Budgets
EOG Resources Inc. CEO Mark Papa is hoping Punxsutawney Phil sees his shadow on Friday to help extend the winter season by a few more weeks. Papa warned Thursday the warmer-than-average winter season has placed the natural gas market in a “perilous condition,” and without a cold February, EOG may cut capital expenditures and trim its production forecast for 2007.
NARUC: States May Change Ratemaking to Address Power Plant Investments
The head of a utility regulatory group last Thursday said he sees state legislatures making changes to traditional ratemaking statutes to accommodate the large investments that will be required to build next-generation power plants to operate in carbon-constrained environments.