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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Five Workers Hurt in North Dakota Oilfield Flash Fire
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.
Moody’s Notes Chesapeake’s Progress, Raises Rating
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.
U.S. NatGas Prices Facing Pressure ‘For Many Years’
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.
U.S. NatGas Prices Facing Pressure ‘For Many Years’
The downward price pressure on U.S. natural gas “should be sustained for many years,” said the global energy research chief for Credit Suisse.
Northeast Leads Broad Retreat; Futures Plunge on EIA Data
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.
House Lawmaker Slams BLM Oil Shale Proposal
The latest Interior Department Bureau of Land Management (BLM) proposed plan on oil shale and oil sands leasing on western lands has come under attack from the chairman of a prominent House energy subcommittee.
Shale, Related Infrastructure Lift U.S. M&A Activity in 2011
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.
Low Gas Prices Impact WPX Spending, Rig Count
WPX Energy, newly spun off from Williams, is having to rethink its first full year as an exploration and production (E&P) company because of sustained low natural gas prices, the company said late Monday.
Consol Trims Gas Drilling, Spending Plans
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.