French oil major Total SA has exercised its preferential rights to leapfrog over a prospective buyer and become sole owner and operator of the Barnett Shale leasehold it has co-owned with Chesapeake Energy Corp. since 2009. Meanwhile, Chesapeake is boosting its annual production growth target — even with the Barnett sale — and forecasting cash flow neutrality in 2018.
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NGI The Weekly Gas Market Report
U.S. NatGas Pipelines to Mexico Set Another Export Record in June
For the second consecutive month, the United States in June sent the most natural gas to Mexico through pipelines of any month on record, reaching 105.84 Bcf (3.53 Bcf/d), according to Energy Information Administration (EIA) data.
Six U.S. Land Rigs Come Back; More Returns Anticipated
The Baker Hughes Inc. (BHI) U.S. land rig count gained again during the week ending June 10, and with increasing confidence, analysts following the drilling and services sector have been calling a bottom to the long-running activity decline.
Total Challenges FERC Jurisdiction Over Manipulation Charges in Federal Court
Total Gas & Power North America Inc. (TGPNA) has taken its defense against a recent FERC enforcement staff allegation of three years of natural gas trading manipulation in the Southwest to a federal district court in Texas. The Total SA unit contends the federal courts are the only place where alleged violations of the federal Natural Gas Act (NGA) can be sorted out.
Total Challenges FERC Jurisdiction Over Manipulation Charges in Federal Court
Total Gas & Power North America Inc. (TGPNA) has taken its defense against a recent FERC enforcement staff allegation of three years of natural gas trading manipulation in the Southwest to a federal district court in Texas. The Total SA unit contends the federal courts are the only place where alleged violations of the federal Natural Gas Act (NGA) can be sorted out.
Total Agrees to Pay Fort Worth $6M for Underpaying Barnett NatGas Royalties
Total E&P USA agreed to pay $6 million to the city of Fort Worth, TX for underpaying natural gas royalties in the Barnett Shale on leases it co-owns with Chesapeake Energy Corp.
Total-Pertamina LNG Swap Involves Corpus Christi Volumes
A just-announced liquefied natural gas (LNG) swap deal between France’s Total and Indonesia national oil company Pertamina shows LNG deals can still get done in a depressed market, analysts said.
Total Gas & Power Asks District Court to Intervene in FERC Market Manipulation Case
A Houston-based subsidiary of France’s Total SA has asked a federal judge to issue a declaratory judgment that would guarantee the company a chance to have allegations currently under investigation at FERC be heard by a jury trial in a federal district court.
Eagle Ford, Marcellus, Niobrara Topped M&A Interest in 4Q
Dealmakers in late 2013 mostly were drawn to the Eagle Ford Shale in South Texas, where five mergers and acquisitions (M&A) led to $6.5 billion total in transactions, compared to the Marcellus Shale, where four captured $1.5 billion, a new analysis by PwC found. The Niobrara formation’s two transactions were valued at $1.2 billion, while two in the Utica Shale contributed $263 million.
EIA: ‘Other States’ Stumbled, But U.S. NatGas Production Climbed in September
Natural gas production from the “Other States” category was down compared to the previous month for only the second time in nine months, but total U.S. natural gas production, which has of late been buoyed by that shale gas-rich category, still managed a 0.3% increase in September, according to the Energy Information Administration’s (EIA) Monthly Natural Gas Gross Production Report.