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Companies & Finance

Talisman mulls North American GTL and LNG

Both Devon and Talisman are pulling back on gas drilling in light of low North American prices. But Talisman is also pursuing opportunities to boost demand for North American gas.

17 February 2012
Policy & Regulation

US Energy Department considering export consequences

The United States Energy Department will not make a decision on future LNG exports until it has considered the consequences of sending gas abroad, Energy Secretary Steven Chu told lawmakers at a Senate energy committee hearing on Thursday.

17 February 2012
Companies & Finance

Blackstone provides $1 bln debt for GeoSouthern

Private equity group Blackstone has helped to raise $1 billion for the development of shale gas and oil fields in Texas. GeoSouthern Energy will take on the finance as the developing company.

17 February 2012
Companies & Finance

Ruby Pipeline issues bonds

The Ruby Pipeline project company has closed an offering of $1.075 billion in senior unsecured notes made up of a $250 million principal amount priced at 4.50% and due in 2017. A larger package of $825 million, due in 2022, is priced at 6%.

17 February 2012
Companies & Finance

TransCanada wants to build Canada’s west coast artery

TransCanada would like to build a pipeline linking western Canadian gas to future potential LNG export capacity at Kitimat. The company is also in discussions with North Slope producers about a pipeline link to proposed new LNG export capacity in Alaska.

16 February 2012
Global Markets

Rock bottom prices force Chesapeake into asset sale

Chesapeake has outlined a financial plan to fill its expected funding gap for this year. The plan has raised some analyst questions about the extent of its financial stress and the use of excess proceeds.

15 February 2012
Exploration & Production

EPA’s fracking conclusions spark fierce criticism

An EPA press release has added fuel to an ongoing debate between proponents and opponents of hydraulic fracturing by questioning the validity and purpose of the procedure.

14 February 2012
Exploration & Production

Shale deals boost US M&A activity

Competition for choice liquids prospects in the United States has driven up deal values, resulting in $186.5 billion of M&As in the country in 2011. Conway Irwin investigates this trend

13 February 2012
Exploration & Production

Rising US output offsets Noble’s Mediterranean losses

Houston-based independent Noble Energy expects oil and liquids to assume a larger role in its production mix in 2012, but higher gas output in the United States will help to offset lost production volumes in the eastern Mediterranean.

10 February 2012
Exploration & Production

Husky joins flight from dry gas production

Canadian company Husky has said it will use North American gas production to help fuel its oil operations as it shifts capital away from North American gas because of low prices.

10 February 2012
Pipelines, Storage & Power

US gas inventories

The US Energy Information Administration (EIA) expects US gas inventories at the end of this year’s winter heating season to be at their level highest since 1983.

10 February 2012
Supply & Demand

Gas shut-ins will not lift prices, say banks

Falling rig counts and production curtailments appear to be positive steps towards reducing the gas oversupply in the United States, but analysts have suggested that up to 60 million cubic metres (mcm) per day of further production needs to be cut to lift prices.

9 February 2012
Companies & Finance

Husky doubles profits

Canadian independent Husky more than doubled its profits in 2011 over 2010, earning $2.2 billion due to robust output growth, improvements in oil prices and refining margins.

9 February 2012
LNG

BG Group throws hat into ring for west coast LNG

The Prince Rupert Port Authority (PRPA), which is responsible for waterside property in Prince Rupert on the north coast of British Columbia, said it has “engaged” UK-based major BG Group over a potential liquefaction plant.

8 February 2012
Companies & Finance

Plains sales rise

United States independent Plains saw its oil and gas sales rise by 12% over 2010, to 98,950 boe/d, driven in part by volumes from the Haynesville and Eagle Ford shales.

8 February 2012
Companies & Finance

Encana Executive VP resigns

Encana Executive Vice-President and President of the firm’s Canada division Mike Graham has resigned.

8 February 2012
Companies & Finance

Low prices shift Anadarko focus from US

Anadarko is surviving low gas prices by not investing in gas drilling. But it plans major gas investment offshore Mozambique.

8 February 2012
Supply & Demand

US LNG exports will only cause minimal price rise – EIA offical

LNG exports from the United States will only cause the price of gas to rise “minimally” between 2015 and 2035, Energy Information Administration official Angelina LaRose told the National Association of Regulatory Utility Commissioners conference on Sunday.

7 February 2012
Companies & Finance

Loss for Anadarko

US firm Anadarko lost $2.65 billion in 2011, mainly due to a $4 billion payment to BP for the independent’s share of expenses from the Macondo oil spill in the Gulf of Mexico, in which it holds a 25% stake.

7 February 2012
LNG

Canadian LNG exports to face stiff competition

Canada has enough gas to supply three potential LNG export terminals in the Kitimat area, but they’ll have to compete with Australians and other suppliers for market share in Asia.

7 February 2012

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