Until the bell rang on Friday, things appeared to be looking up for Chesapeake Energy Corp.’s management team. Its decision to sell a half million acres in the Denver-Julesburg (DJ) Basin, which previously hadn’t been on the company’s list of publicly disclosed assets to sell, had been praised, with analysts noting that it might fetch up to $1 billion and help the company reach its capital commitment goals this year.
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U.S. Energy Independence Not Achievable Before 2030, Survey Finds
U.S. energy independence won’t be achievable until at least 2030, even with a renewed focus on domestic energy resources, energy infrastructure and unconventionals, according to more than two-thirds of the energy executives responding to a new survey conducted by KPMG Global Energy Institute (GEI).
May 17, 2012
Outages, Imbalances Lift Cash Quotes; Futures Retreat
Physical gas prices rose about 4 cents overall Monday due to a combination of short-term outages, imbalances and a tendency to postpone purchases until Monday. Eastern points rose in nonuniform fashion, and California locations posted gains as operational issues surfaced at major entry points in the southern portions of the state. At the close of futures trading June had fallen 7.8 cents to $2.431 and July had shed 8.4 cents to $2.505. June crude oil dropped $1.35 to $94.78/bbl.
May 15, 2012
Appetite Appears to Drop for Oil, Gas M&A
Instead of jumping in, natural gas and oil companies instead may wade into the mergers and acquisitions (M&A) pool this year until they have more confidence in the broader business environment, according to the sixth Ernst & Young Global Capital Confidence Barometer.
May 14, 2012
Post-Merger Planning Under Way at Energy Transfer, Sunoco
Energy Transfer Partners LP’s (ETP) $5.3 billion purchase of Sunoco Inc. isn’t expected to close until the second half of this year, but integration of the two companies “is well under way,” according to ETP CFO Martin Salinas.
May 11, 2012
ETP, Sunoco Already Planning Post-Merger Operations
Energy Transfer Partners LP’s (ETP) $5.3 billion purchase of Sunoco Inc. isn’t expected to close until the second half of this year, but integration of the two companies “is well under way,” according to ETP CFO Martin Salinas.
May 11, 2012
Appetite Drops for Oil, Gas M&A, Says Survey
Instead of jumping in, natural gas and oil companies instead may wade into the mergers and acquisitions (M&A) pool this year until they have more confidence in the broader business environment, according to the sixth Ernst & Young Global Capital Confidence Barometer.
May 10, 2012
Apache North American Onshore ‘Most Active’ in a While, Says CEO
Dry natural gas drilling in North America’s onshore, once a big calling for Houston-based Apache Corp., is off the to-do list until pricing improves, but with 60 rigs running in the U.S. onshore today — 58 targeting liquids targets — “we’ve got a very active drilling program going on right now, the most active we’ve been in some time in North America,” said CEO G. Steven Farris.
May 8, 2012
Nova Scotia Enacts Two-Year Fracking Ban
Nova Scotia said it will extend its review of hydraulic fracturing (fracking) until mid-2014, enacting a moratorium on the practice for at least another two years.
April 23, 2012
Nova Scotia Extends Fracking Review Until 2014
Nova Scotia plans to extend its review of hydraulic fracturing (fracking) until mid-2014, which basically enacts a drilling moratorium in unconventional resources for another two years. However, conventional drilling would continue, according to the Canadian Association of Petroleum Producers (CAPP).
April 23, 2012
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