Teams

The shale natural gas market in North America is helping to revamp the U.S. chemicals industry and may benefit a variety of other manufacturing sectors through lower costs for raw materials and energy, according to a report issued on Tuesday by PwC US.

EnCap Flatrock Midstream LLC has closed its second private equity fund, EnCap Flatrock Midstream Fund II LP (EFM II), with commitments of $1.75 billion.

With activity heating up in several Permian Basin shale plays, Houston-based start-up Nuevo Midstream, LLC announced Wednesday it has secured a $65 million equity commitment to develop midstream infrastructure for natural gas producers in the Permian.

Tradition Energy analysts on Tuesday piled on to 2011 consensus outlook by several energy teams regarding U.S. natural gas prices. The possibility that prices may strengthen over the coming months appears “challenging,” they said.

Activist shareholder Carl Icahn, famous for shaking up management teams at what he considers undervalued companies, now holds about 5.8% of Chesapeake Energy Corp., according to a filing with the Securities and Exchange Commission (SEC).

Activist shareholder Carl Icahn, famous for shaking up management teams at what he considers undervalued companies, now holds about 5.8% of Chesapeake Energy Corp., according to a filing with the Securities and Exchange Commission (SEC).

Energy analysts in recent days piled on their bearish outlooks for domestic natural gas prices through 2011, with two teams slashing forecasts to $4.00/Mcf for the final three months of this year.

Bullish prior-day screen teams with colder temps to keep upward pressure on market.

Two energy analyst teams Monday sliced their outlook for 2010 natural gas prices because of an acceleration in gas-directed drilling activity year-to-date and the anticipated revisions expected to be made by the Energy Information Administration (EIA).