North America

Companies & Finance

Constellation Energy sees quarterly profits rise by 29%

US power and gas supplier Constellation Energy recorded net income of $108 million in the second quarter of 2011, up around 29% on the same period last year, it said late on Wednesday.

4 August 2011
Companies & Finance

BHP Petrohawk tie-up a sign of things to come in M&A market?

Expect to see more big shale gas deals as producers struggle to stump up cash for further development after BHP/Petrohawk tie-up, writes Andrew Cavenagh.

1 August 2011
Exploration & Production

Gulf of Mexico oil and gas platforms reopen following storm

Offshore oil and gas operators in the Gulf of Mexico began to re-board platforms and rigs on Sunday, after 3.5% of gas production and 6% of total production was shut off in response to Tropical Storm Don.

1 August 2011
Exploration & Production

US proposes tight cap on fracking emissions

The US Environmental Protection Agency (EPA) has proposed new rules aimed at drastically cutting emissions from hydraulically fractured gas wells and set tougher standards on emissions from gas transmission and storage.

29 July 2011
Companies & Finance

Exxon’s long-term gas bet starts to pay off

ExxonMobil reported second quarter earnings of $10.7 billion, up 41% on the second quarter 2010, as its long investment in unconventional gas plays starts to pay off.

29 July 2011
Policy & Regulation

El Paso seeks permission to launch Ruby pipeline

US gas transportation company El Paso Corporation has asked for regulatory approval to begin operating its new 1.5 billion cubic feet per day (42.5 million cubic metres per day) Ruby pipeline in the western United States on Wednesday, according to a news report today.

26 July 2011
Exploration & Production

BP awarded T&T deep-water licences

BP has secured two deep-water licences in Trinidad and Tobago’s latest licensing round, which was announced on Monday.

26 July 2011
Companies & Finance

Dis-Integrating majors?

Anglo-American majors will be asked about the relative merits and demerits of the integrated business model this week after ConocoPhillips’ dramatic decision earlier this month to split into two.

25 July 2011
Companies & Finance

Energy Transfer Equity ups stakes in Southern Union bidding war

Pipeline company Energy Transfer Equity (ETE) has raised its offer for Southern Union to $44.25 per share, trumping rival Williams’ latest bid for the company.

20 July 2011
Exploration & Production

Buccaneer’s Kenai Loop holds more than thought

Texas-based consulting company Ralph E. Davis has estimated that the Kenai Loop project in Alaska, which is being drilled by Australian upstream oil and gas company Buccaneer Energy, holds reserves of 38.3 billion cubic feet (1.08 billion cubic metres).

20 July 2011
LNG

Cheniere export terminal to cost $6 billion

Cheniere Energy is set to invest $6 billion in its LNG export terminal at Sabine Pass in the US, Louisiana Governor Bobby Jindal said at a press conference Tuesday.

20 July 2011
Exploration & Production

Shell to pull out of Canadian Mackenzie Delta pipeline

Anglo-Dutch Royal Dutch Shell is planning to sell off its assets in the Mackenzie Delta natural gas reserve on the north-west coast of Canada, including its stake in a project to build a new pipeline leading from the delta, according to Canadian news reports today.

18 July 2011
LNG

North American gas producers seek Asian LNG market share

As LNG exports become an important consideration for US and Canadian natural gas producers, they are turning their focus to Asia Pacific.

18 July 2011
Companies & Finance

ConocoPhillips to split in two

In a dramatic move that throws fresh doubt on the integrated corporate model, US major ConocoPhillips said on Thursday that it will split into two companies.

15 July 2011
Exploration & Production

BHP Billiton to double shale resource base with $12 billion Petrohawk buy

The flurry of consolidation within the US shale gas industry continues with Anglo-Australian mining giant BHP Billiton announcing an agreement to buy Houston-based Petrohawk Energy, for $12.1 billion.

15 July 2011
Companies & Finance

Williams ups bid for Southern Union to $44 a share

The fierce bidding war for Southern Union intensified Thursday as Oklahoma-based integrated gas company Williams upped its cash offer for the pipeline group, topping a rival bid by Energy Transfer Equity (ETE) by $4.

15 July 2011
Companies & Finance

Energy Transfer Equity makes $5.9 billion counter-offer for Southern Union

Energy Transfer Equity (ETE), a US-based master limited partnership, has increased its original offer for pipeline group Southern Union to $40 per share in cash and equity, trumping a $39/share all-cash counter-bid from rival Williams, the company said yesterday.

6 July 2011
Exploration & Production

US shale gas producers consider options as low prices bite

US shale gas producers are losing money hand over fist as gas prices remain below the cost of production. So what options have they to boost revenues?

6 July 2011
Supply & Demand

US gas prices to rise on economic recovery – Deutsche Bank

The longer-term fundamental supply/demand picture for US natural gas is tightening, partly on the back of an expected recovery in the US economy by 2012, analysts at Deutsche bank said in a quarterly report, Deutsche Bank Commodities Quarterly, published today.

5 July 2011
Exploration & Production

KOGAS joins shale project in British Columbia

Korea Gas Corporation (KOGAS) will collaborate with Mitsubishi Corporation and Penn West Exploration (PWE) in developing a shale gas project in the Cordova Embayment of north-eastern British Columbia, Canada, Mitsubishi said on Thursday.

1 July 2011

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