Standard & Poor’s Ratings Services (S&P) on Friday revised its outlook for Chesapeake Energy Corp. to “stable” from “negative,” citing new CEO Doug Lawler as part of the reason. The former Anadarko Petroleum Corp. executive took over in June (see Shale Daily, May 21).
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There apparently is no environmental or public health fallout from an oilfield flash fire in the Bakken south of Williston, ND, that injured five workers, one of whom was airlifted to a nearby hospital in McKenzie County with burns, according to Trustland Oilfield Services and the North Dakota Department of Emergency Services.
Chesapeake Energy Corp.’s credit rating was upgraded on Tuesday by Moody’s Investors Services to “stable” from “negative” because of progress made to reduce capital spending (capex) and improve liquidity.
The downward price pressure on U.S. natural gas “should be sustained for many years,” according to the global energy research chief for Credit Suisse.
The downward price pressure on U.S. natural gas “should be sustained for many years,” said the global energy research chief for Credit Suisse.
Cash prices fell 13 cents on average Thursday, but if the big-dollar losses sustained on Algonquin, Iroquois, as well as portions of Tennessee and Transco are factored out, the market fell only a penny.
More investments in U.S. shale plays and related infrastructure, as well as sustained interest from foreign buyers and private equity firms, significantly lifted the total value of U.S. natural gas and oil mergers and acquisitions (M&A) in 2011, according to an analysis by PwC US.
Joint ventures (JV) in its domestic natural gas division helped Consol Energy Inc. to achieve record fourth quarter profits, but it said Thursday sustained low gas prices will require scaling back spending and drilling plans in 2012.