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Companies & Finance

KKR-Chesapeake partnership

Private equity company KKR will form a partnership with Chesapeake Energy partnership to invest in mineral and royalty interests in oil and gas assets in the United States, and will initially inject $250 million, the companies announced on Tuesday.

6 March 2012
Policy & Regulation

Fractious party politics may inhibit US market development

Republicans and Democrats see eye-to-eye on very little, including initiatives that could help lift domestic gas demand. This might prevent energy policy developments that could help balance the market.

6 March 2012
Policy & Regulation

The regulation behind plans for US LNG exports

Under the decentralised US system, Cheniere’s Sabine Pass liquefaction plant is likely to face more regulatory hurdles at state level and in the courts.

5 March 2012
Global Markets

Oil – nine times more important than gas?

Shale oil and gas discoveries in the US are still insufficient to offset risks to the country’s economy from Middle East oil shocks.

5 March 2012
Global Markets

Energy subsidies

United States President Barack Obama asked Congress on Thursday to end $4 billion in subsidies for oil and gas companies, and vowed to tackle the country’s long-term energy issues.

2 March 2012
Policy & Regulation

US gas prices

The United States Department of Energy will not attempt to control gas prices by revoking LNG export plant approvals, according to a department official quoted by Reuters on Thursday.

2 March 2012
Companies & Finance

Private equity signs up for Sabine Pass LNG

Cheniere Energy has secured a $2 billion equity investment from private equity firm Blackstone to part fund development of the Sabine Pass LNG export facility in Louisiana.

2 March 2012
Companies & Finance

BP at 60% of asset sale target with Kansas deal

United States oil and gas company Linn Energy has said it will pay $1.2 billion to buy gas assets in south-west Kansas from BP, which continues to raise $38 billion to pay for its Gulf of Mexico spill in 2010.

28 February 2012
LNG

North American gas prices tempt private equity back to energy industry

The medium-term ambitions of producers that want to export LNG to Asia are in line with the traditional strategies of private equity firms, say analysts.

28 February 2012
Companies & Finance

Former chief exec gets 30 months for Nigeria bribery

A former chief executive of US oil services company KBR was sentenced to 30 months in jail on Friday for bribing Nigeria officials to win LNG contracts, according to a Bloomberg report.

27 February 2012
Companies & Finance

Emerald Oil and Gas raises debt for shale acreage acquisition

Emerald Oil and Gas has raised $15 million in debt to buy 10,500 net lease acres and initial shale oil production located in Dunn County, North Dakota.

24 February 2012
Companies & Finance

Wells Fargo takes on BNP Paribas' North American energy debt

North America-focused financial institution Wells Fargo has confirmed that it is to take on French bank BNP Paribas' Houston-based energy lending business in a deal that will see $9.5 billion in on-going debt also transferred.

24 February 2012
Companies & Finance

Chesapeake’s fourth-quarter profits more than double

Chesapeake Energy said on Tuesday that its first-quarter profit more than doubled to $429 million from $180 million during the same period a year ago.

22 February 2012
Companies & Finance

Al Walker to become CEO of Anadarko

United States major Anadarko Petroleum has said that its Chief Operating Officer Al Walker, a former investment banker at UBS, will succeed Jim Hackett as chief executive on 15 May.

22 February 2012
Policy & Regulation

US and Mexico agree Gulf exploration deal

Following nearly forty years of failed negotiations, the United States and Mexico reached agreement on Monday to explore and develop oil and gas reserves along the US and Mexico’s maritime borders in the Gulf of Mexico.

21 February 2012
Companies & Finance

URS to buy Flint Energy Services

San Francisco-based construction company URS has agreed to buy Flint Energy Services for C$1.25 billion ($1.26 billion) in cash to add projects servicing oil and gas producers in western Canada, and in the south-west, Appalachian and Rocky Mountains regions of the United States.

21 February 2012
Companies & Finance

Fortis buys CH Energy

Newfoundland-based power and gas distributor Fortis said on Tuesday it had bought New York-based utility CH Energy Group in a cash and debt deal worth $1.5 billion.

21 February 2012
Global Markets

US gas prices surge

United States gas prices surged ahead of Presidents’ Day weekend because of announced drilling cutbacks, as well as production shut-ins.

20 February 2012
Companies & Finance

Falklands could recieve $177 billion in tax and royalties from oil and gas

The Falkland Islands could eventually reap $177 billion in tax and royalties from oil and gas production, UK newspaper The Sunday Times has reported, quoting research by London-based Edison Investment Research.

20 February 2012
LNG

Companies juggle costs for British Columbia LNG

Canadian giant Encana announced Friday that it had sold a 40% stake in its Cutbank Ridge gas assets in British Columbia for $2.9 billion to Japanese conglomerate Mitsubishi. It is an indication that companies have decided to share the heavy costs of exporting gas from North America as LNG.

20 February 2012

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