Any U.S. oil and gas wildcatter looking for a way to get on the Forbes annual Billionaires list might take a hint from some of the interests among those who made this year’s list, published Monday. They like oil and they like natural gas, and many of them especially like shale.
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ExxonMobil Joins BC LNG Export Party
If ExxonMobil Corp. has its way, it could be exporting natural gas from the United States and Canada to overseas markets, after the supermajor on Wednesday filed for permission to export 30 million metric tons a year (mmty) of liquefied natural gas (LNG) from the west coast of British Columbia (BC).
Industry Briefs
The market will ultimately cap the amount of natural gas that the United States exports, not policymakers, said an executive with CIBC World Markets at the Energy Information Administration’s Energy Conference Tuesday in Washington, DC. Hypothetically, “if we were to see Henry Hub prices in the $5.00-7.00/Mcf range, it would make incremental [liquefied natural gas export] projects difficult,” said CIBC World’s head of commodity strategy Katherine Spector. CIBC is a unit of the Canadian Bank of Commerce. “There is a point that this [exports] will not make economic sense…I don’t know what the magic number is.” When natural gas in Asia is priced at $16.00, and gas at Henry Hub is $2.00-3.00, “it’s a no brainer.”
Chesapeake Shareholders Reelect Board, Reject Declassification
Chesapeake Energy Corp. shareholders reelected the company’s board of directors, but rejected separate proposals to implement proxy access, reincorporate in Delaware and declassify the board, the last of which would have made it easier to replace the entire board in one fell swoop.
$4.00-Plus Called ‘Breakeven’ for U.S. Natural Gas
Nearly every major natural gas play in the United States makes money at prices above $4.00/Mcf, and more important, may generate a “decent rate of return” at prices above $4.25, according to an analysis by Raymond James & Associates Inc.
Energy Independence in Sight, Says Chesapeake’s Dunham
With the “right kind of leadership” and regulatory environment, the United States could be just 10 years from achieving energy independence, Chesapeake Energy Corp.’s nonexecutive Chairman Archie Dunham said Friday.
Price Trigger at $4.00-Plus for ‘Breakeven’ U.S. Natural Gas
Nearly every major natural gas play in the United States makes money at prices above $4.00/Mcf, and more important, may generate a “decent rate of return” at prices above $4.25, according to an analysis by Raymond James & Associates Inc.
Most U.S. NatGas Plays Make Money at $4.00-Plus, Says Raymond James
Nearly every major natural gas play in the United States makes money at prices above $4.00/Mcf, and more important, can generate a “decent rate of return” at prices above $4.25, according to an analysis by Raymond James & Associates Inc.
Australian Shale Gas Development Costly, Says Council
Shale gas development in Australia will be an expensive proposition, with infrastructure costs double those in the United States, according to a 252-page report by the Australian Council of Learned Academies (ACOLA).
NGVs Analyzed for Stirring NatGas Demand
With 35 states having created various levels of incentives for using natural gas in transportation and the Energy Information Administration (EIA) predicting gas use in transportation will grow 100% by 2017, the latest Barclays analysis of U.S. gas broke down some of the metrics and concluded that natural gas vehicles (NGV) on the road will have to swell 12-fold between 2011 and 2017 to meet the EIA prediction.