Chesapeake Energy Corp.’s second-largest investor Carl Icahn has increased his stake in the Oklahoma City-based operator to 8.98% from 7.6%, according to a regulatory filing by the company. The activist investor earlier this year pushed for governance changes, including replacing Aubrey McClendon as chairman. Icahn was instrumental in shaking up the board of directors and appointed an associate, Vincent J. Intrieri, as one of four new members (see NGI, June 25).
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Chesapeake Energy Corp.’s second-largest investor Carl Icahn has increased his stake in the Oklahoma City-based operator to 8.98% from 7.6%, according to a regulatory filing by the company. The activist investor earlier this year pushed for governance changes, including replacing Aubrey McClendon as chairman. Icahn was instrumental in shaking up the board of directors and appointed an associate, Vincent J. Intrieri, as one of four new members (see Daily GPI, June 22).
Nucor Takes Half-Stake in Encana Natural Gas Wells
U.S. steel and iron producer Nucor Corp. last week said it is taking a half-stake in some of Encana Corp.’s U.S. natural gas wells in Colorado to guard against an expected increase in U.S. gas prices.
Nucor Takes Half-Stake in Encana Natural Gas Wells
U.S. steel and iron producer Nucor Corp. on Tuesday said it is taking a half-stake in some of Encana Corp.’s U.S. natural gas wells to guard against an expected increase in U.S. gas prices.
Devon Takes Sumitomo as Partner in Permian
Devon Energy Corp. last week secured $1.4 billion from Japan’s Sumitomo Corp. in exchange for a 30% stake in 650,000 net acres in the Permian Basin’s Cline and Midland-Wolfcamp shales.
Devon Unconventional Growth Lifts Output 3%
Devon Energy Corp. on Wednesday said Japan’s Sumitomo Corp. agreed to pay $1.4 billion for a 30% stake in 650,000 net acres in the Permian Basin’s Cline and Midland-Wolfcamp shales. The news offset the company’s 2Q2012 earnings report, which indicated profits were down sharply from a year ago on lower commodity prices.
Rumors of Midstream Sale Boost Chesapeake Shares
Chesapeake Energy Corp. is in advanced negotiations to sell all of its midstream assets, including its stake in Chesapeake Midstream Partners LP (CHKM), for more than $4 billion, a transaction that could be completed in the next few days, sources told NGI’s Shale Daily on Wednesday. The bidder is said to be private equity giant Global Infrastructure Partners (GIP), which initially helped to fund the master limited partnership (MLP) and which continues to be a joint partner.
Chesapeake Shares Soar on Report to Sell Midstream Businesses
Chesapeake Energy Corp. is in advanced negotiations to sell all of its midstream assets, including its stake in Chesapeake Midstream Partners LP (CHKM), for more than $4 billion, a transaction that could be completed in the next few days, sources told NGI’s Shale Daily on Wednesday. The bidder is said to be private equity giant Global Infrastructure Partners (GIP), which initially helped to fund the master limited partnership (MLP) and which continues to be a joint partner.
BP Plans Sale of Lucrative TNK-BP Stake
BP plc officials said Friday they intend to sell the company’s lucrative stake in TNK-BP, which is owned equally with Russia’s Alfa Access Renova (AAR), a group of Russian billionaires.
Blackstone Taking $2B Stake in Cheniere Liquefaction Project
Affiliates of private equity firm Blackstone are taking a stake in Cheniere Energy Partners LP’s (CQP) project to add liquefaction and export capability to its Sabine Pass LNG terminal on the U.S. Gulf Coast as well as other activities, Houston-based Cheniere said Monday.