Natural Gas E&P Rally Excites Investors

Natural gas prices have been rallying a bit lately, and stocks “tend to correlate” with changes in the forward curve, but the stock price rally hasn’t been accompanied by a gain in the strip price, Tudor, Pickering, Holt & Co. (TPH) analysts said in a note to clients.

March 20, 2013

Sempra Eyes IPO, LNG Exports

San Diego-based Sempra Energy’s Mexico business unit plans to hold an initial public offering (IPO) of up to 20% of stock as part of a long-range plan to increase natural gas investments on both sides of the U.S.-Mexico border. At the same time, the company senior management is talking bullishly about U.S. liquefied natural gas (LNG) exports.

March 4, 2013

Penn Virginia Grows Proved Oil, NGL Reserves

Six months after selling its Appalachian Basin portfolio to focus on the oily Eagle Ford Shale, Penn Virginia Corp. (PVA) said its operations in the latter were moving forward while proved reserves of oil and natural gas liquids (NGL) had increased during 2012.

January 31, 2013

Hess Selling Terminals, Refining Business to Focus on E&P

Hess Corp. said Monday it plans to sell its oil terminal network in the United States and close its refinery at Port Reading, NJ, part of its strategy to completely exit the refining business and transform into an exploration and production (E&P) company focused on unconventional assets.

January 29, 2013
Bakken Helps Continental Nearly Double Its Proved Reserves

Bakken Helps Continental Nearly Double Its Proved Reserves

Continental Resources Inc. announced Wednesday that its proved reserves have nearly doubled, driven primarily by strong production growth in North Dakota and Montana’s portions of the Bakken Shale, and part from a legacy play in south-central Oklahoma.

January 28, 2013

Global Competition Seen Upended by U.S. Unconventionals

The impact of unconventional domestic shale gas and tight oil reserves is impacting domestic manufacturing and has upended global competitiveness, according to IHS Inc.

January 25, 2013
Freeport-McMoRan Returns to U.S. Energy Roots in $9B Deal

Freeport-McMoRan Returns to U.S. Energy Roots in $9B Deal

Freeport-McMoRan Copper & Gold on Wednesday returned to its U.S. energy roots with a $9 billion cash-and-stock offer to buy Plains Exploration & Production Co. (PXP), a leading unconventional producer, and McMoRan Exploration Co.

December 6, 2012

BP Takes Stake in Rosneft for Hefty Payday

BP plc on Monday clinched a mega-deal to sell its troubled half-stake in Russian explorer TNK-BP to Russian energy giant OAO Rosneft for $17.1 billion in a cash-and-stock transaction.

October 23, 2012

ExxonMobil Builds Bakken Portfolio with Denbury Agreement

ExxonMobil Corp. has increased its hold in the Bakken Shale to nearly 600,000 net acres after agreeing to acquire Denbury Resources Inc.’s entire portfolio in the play, 196,000 net acres. The North Dakota and Montana properties had average production in the first six months of this year of about 15,400 boe/d, 88% weighted to oil and liquids.

September 21, 2012

Industry Brief

Chesapeake Midstream Partners LP has become Access Midstream Partners LP and is trading under the ticker ACMP on the New York Stock Exchange. A new website,, also was launched. In June Global Infrastructure Partners acquired the midstream partnership from Chesapeake Energy Corp. (see Daily GPI, July 3). New board members CEO J. Mike Stice, COO Robert S. Purgason and GIP principal William J. Brilliant join David A. Daberko, Domenic J. Dell’Osso Jr., Philip L. Frederickson, Matthew C. Harris, Suedeen G. Kelly and William A. Woodburn.

July 25, 2012