Tag / Told

Subscribe

Told

PG&E Improves but More Work Ahead, Says Top Exec

The top gas executive for San Francisco-based Pacific Gas and Electric Co. (PG&E) told NGI last week that the combination utility is less than half way toward becoming a “top quartile” gas distribution and transmission pipeline operation and still needs to fulfill almost a dozen federal recommendations made following the September 2010 explosion of a transmission pipeline in San Bruno, CA.

June 25, 2012

Corbett Steps Up Marcellus Ethane Cracker Effort

Pennsylvania Gov. Tom Corbett on Wednesday added his voice to the chorus of state officials calling for construction of a petrochemical complex, including an ethane cracker, in Beaver County, PA.

June 22, 2012

Statoil Advancing U.S. Shales, Dipping Into Australia

Shale and tight oil plays are key components of the North American portfolio of Norway’s Statoil ASA, executives told investors in New York City Wednesday. The company also has announced a farm-in agreement that gives it early entry into an Australian shale play.

June 21, 2012

PG&E Making Progress on Safety; More Work to Do, Says Exec

The top gas executive for San Francisco-based Pacific Gas and Electric Co. (PG&E) told NGI Tuesday the combination utility is less than half way toward becoming a “top quartile” gas distribution and transmission pipeline operation but it still needs to fulfill a dozen recommendations from federal regulators following the September 2010 rupture and explosion of the transmission pipeline in San Bruno, CA, he said.

June 21, 2012

Town of Rochester, NY, Weighing Gas Extraction Ban

Officials in the Town — not the City — of Rochester, NY, are considering a ban on natural gas extraction.

June 6, 2012

ExxonMobil Still Keen on Natural Gas, Says CEO

Natural gas, particularly unconventional resources, will continue to be a major focus for ExxonMobil in the coming decades, CEO Rex Tillerson told shareholders at the company’s annual meeting in Dallas on Wednesday.

May 31, 2012

Gensler: CFTC to Complete ‘Swap’ Rule in Near-Term

The head of the Commodity Futures Trading Commission (CFTC) told Congress Tuesday that it and the Securities and Exchange Commission (SEC) are close to issuing a final rule further defining the terms “swap” and “securities-based swap,” which would trigger a rule establishing limits on speculative positions in the futures and swaps markets.

May 23, 2012

Chesapeake, Ohio Company File Counterclaim in Leasing Dispute

Several Chesapeake Energy Corp. subsidiaries, along with a privately owned oil and gas exploration company based in Ohio, have filed a counterclaim in federal district court as they look to fight a lawsuit by 17 landowners in western Pennsylvania over a leasing dispute.

May 14, 2012

Industry Brief

Management of Australia’s Eureka Energy Ltd., which has acreage in the Eagle Ford Shale of South Texas, told shareholders they should reject an unsolicited offer from Aurora Oil and Gas Ltd., also of Australia and an Eagle Ford player. “The board considers the offer to be opportunistic and designed to solicit shareholders to sell their shares at a time when the company’s strategic direction and underlying potential is still emerging,” said Eureka Acting Managing Director Bill Bloking. Aurora has made an A$107 (US$111.7 million) unsolicited offer for Eureka. Aurora said the unconditional, all-cash offer represents “an attractive premium” (36.4% to Eureka’s previous closing price) and gives Eureka shareholders the opportunity to “crystallize immediate and certain value for their shares.” The acquisition would build Aurora’s “already strong presence in the Sugarkane Field, growing its portfolio of Eagle Ford interests” in line with its strategy, said Aurora CEO Jon Stewart (see Shale Daily, May 1).

May 8, 2012

Shale Gas, Renewables ‘Here to Stay,’ Sempra CEO Says

Sempra Energy CEO Debra Reed on Thursday told financial analysts at a meeting her company hosted in San Diego that shale gas and renewables will be at the center of Sempra’s focus in the next few years.

April 2, 2012