Elliott Associates LP, a hedge fund that owns a 4% stake in Hess Corp., is urging other shareholders to elect its five nominees to the company’s board of directors and has called on Hess to spin off its assets in the Bakken, Eagle Ford and Utica shale plays.
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DCP Midstream LLC is promoting a number of Midcontinent-focused projects currently under way that combined represent an investment of $2 billion. Among them is infrastructure development to provide natural gas liquids (NGL) takeaway capacity to Mont Belvieu, TX.
A plan unveiled last Friday by Pacific Gas and Electric Co. (PG&E) to transform its natural gas pipeline system into a role model for the industry carries a price tag of more than $1.9 billion spread over the next three-plus years, according to information released as part of the utility’s proposal to state regulators. Shareholders would absorb a little more than 25% of the total cost estimate.
Valero Energy Corp. is planning for the gasoline station of the future to transform into a broad-based multi-fuel station with natural gas, ethanol and perhaps even electricity fueling facilities, along with gasoline and diesel. Ethanol’s E85 fuel mixture is already being offered at several Valero stations and is planned to be offered in all new facilities.
As U.S. producers transform their asset base exclusively from natural gas to a more balanced one that includes oil and liquids, investors “might be surprised by what happens to the gas curve in the years ahead,” Chesapeake Energy Corp. CEO Aubrey McClendon said last week.
As U.S. producers transform their asset base exclusively from natural gas to a more balanced one that includes oil and liquids, investors “might be surprised by what happens to the gas curve in the years ahead,” Chesapeake Energy Corp. CEO Aubrey McClendon said Monday.
The horizontal drilling and hydraulic fracturing techniques used to tap natural gas production from shales is beginning to “transform” the oil industry, according to a market analysis issued on Monday by Bentek Energy LLC.
The plain vanilla merchant power plant developer/operators of the past need to transform themselves into broader renewable, transportation and natural gas fields in the post-carbon world, according to NRG Energy Inc. CEO David Crane, who spoke to financial analysts in Houston Thursday.