Shareholders

Encana, Newfield on Cusp of Completing Mega Merger

Encana Corp.’s combination with Newfield Exploration Co. to create a North American onshore exploration beast is set to be completed on Wednesday following approval by the companies’ shareholders.

February 12, 2019

Rice Brothers Push for Better Results at EQT

Rice Energy co-founders Toby Rice and Derek Rice on Monday called for a “course correction” at EQT Corp., which they said is severely undervalued and in need of more executives with “proven operational experience” like themselves.

December 10, 2018

Burgeoning Shale Industry Still Honing Public Image

Output from the nation’s shale plays has ballooned domestic natural gas production over the past few years, but the industry, and the country, have yet to fully embrace all that the paradigm shift entails, said Rick Smead, a director in Navigant Consulting Inc.’s energy practice.

July 18, 2013

Consol Posts Loss, But Marcellus Becoming More Important

Despite disappointing earnings at Consol Energy Inc. during the first quarter, the company reported 10.7 Bcfe of production in the Marcellus Shale, a 60% increase that signaled that the play is becoming increasingly important for the coal and natural gas producer.

April 29, 2013

GE Adds Drilling Heft with Lufkin Takeover

General Electric (GE) on Monday said it would pay $3.3 billion to buy Lufkin Industries Inc., a leading provider of artificial lift technologies for the oil and gas industry.

April 9, 2013

Canada OKs Nexen-CNOOC Deal

The Canadian government late Friday approved the C$15.1 billion takeover of Canada’s Nexen Inc. by CNOOC Ltd., an arm of state-controlled China National Offshore Oil Co.

December 10, 2012

Industry Brief

Princeton, NJ-based NRG Energy Inc. and Houston-based GenOn Energy Inc. said Friday that their respective shareholders have approved a proposed merger that has implications for the nation’s mix of natural gas- and coal-fired generation plants (see Daily GPI, Aug. 10). When completed, the NRG-GenOn combination would create the nation’s largest competitive electric generator with nearly 47,000 MW of capacity, spanning gas, coal, solar, nuclear and wind facilities. The merger still needs approvals from the Federal Energy Regulatory Commission and the New York Public Service Commission, among others. “An overwhelming shareholder vote” for the combination reflects the fact that the merger is a “win-win for everyone,” according to NRG CEO David Crane. GenOn CEO Edward Muller pointed to “substantial cost savings and efficiency benefits” from the merger.

November 13, 2012
Continental Buying in the Bakken, Selling Noncore Conventional Assets

Continental Buying in the Bakken, Selling Noncore Conventional Assets

Continental Resources Inc. has signed separate agreements to buy producing and undeveloped properties in the Bakken Shale for $650 million, and to sell land and assets in its east region for $125 million.

November 12, 2012

Range Onshore Output Jumps in Second Quarter

A decision by Range Resources Corp. to sell its Barnett Shale portfolio last year to devote more resources to the Marcellus Shale appears to have paid off handsomely, with unconventional output jumping 42% in 2Q2012 from the year-ago period. Natural gas, which makes up 80% of the producer’s total output, rose 48%.

July 16, 2012

Industry Briefs

As had been expected, the acquisition of Australia’s Eureka Energy Ltd. by Aurora Oil & Gas Ltd. is to be completed, Aurora said in a letter to Eureka shareholders. Both companies have acreage in the Eagle Ford Shale of South Texas. Eureka has three core assets with a combined net acreage position of 6,742 acres, all focused on the Eagle Ford, according to the Australian company’s website. “The assets are at different levels of maturity throughout the value chain, from ongoing production and development, appraisal and development to initial technical development,” the company said. Aurora participates in multiple separate joint ventures that form a contiguous land position totaling 76,989 acres that sit at the heart of the Eagle Ford, according to the company (see Shale Daily, July 3; May 1).

July 6, 2012
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