Market News

Chesapeake Energy (CHK)

Residents of neighborhoods in northeast Tarrant County, TX are moving toward executing a Barnett Shale natural gas lease with Chesapeake Energy after overwhelmingly approving proposed terms Saturday.
The lease proposal calls for a bonus of $5,250 per acre for a three-year primary term, with a $2,500 bonus for an optional second two-year term. The royalty rate would be 25 percent.

Feb 11 · 11:23:00 AM · Source: The Keller Citizen
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Chevron (CVX)

Chevron Corporation today announced that a consortium led by its Venezuelan subsidiary has been selected to negotiate its participation in a project composed of three blocks in the Orinoco Oil Belt (Faja) of eastern Venezuela.
"We look forward to being part of this new opportunity that will expand development of one of the world`s largest known hydrocarbon resources," said Chevron Vice Chairman George Kirkland.

Feb 11 · 11:10:00 AM · Source: Reuters
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Anadarko Petroleum (APC)

Western Gas Partners LP acquired a natural gas gathering system and other midstream assets in southwest Wyoming from Anadarko Petroleum for $254.4 million.
Western Gas purchased Anadarko’s 100% ownership interest in the Granger gathering system and the Granger plants, which involve two cryogenic trains with combined capacity of 200 MMcfd, two refrigeration trains with capacity of 145 MMcfd, an NGL fractionation facility with capacity of 9,500 b/d, and associated equipment.

Feb 10 · 4:04:00 PM
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Devon Energy (DVN)

Danish shipping and oil group A.P. Moller-Maersk has completed an acquisition of a 25 percent stake in the Jack oilfield in the Gulf of Mexico from Devon Energy for $300 million. Maersk's further investment in field seen rising to $1 billion.
The purchase is part of a push by Maersk's oil arm to diversify its production portfolio beyond its North Sea home base. "Most of the investment will lead up to the production start, which is planned for 2014," Maersk Oil Chief Executive Jakob Thomasen told Reuters.

Feb 10 · 3:26:00 PM · Source: Reuters
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Chevron (CVX)

In a court filing today in Lago Agrio, Ecuador, Chevron provided newly discovered information showing that the author of a report recommending that Chevron be ordered to pay $27 billion in damages is the majority owner of an oilfield remediation company that stands to gain financially from a judgment against Chevron.
Due to the remediation company`s relationship with Ecuador`s state-owned oil company, Petroecuador, Chevron called upon the court to immediately reject the work of Richard Cabrera on the grounds that he knowingly hid his relationship and that he stands to gain from what was supposed to be unbiased work for the court. "For three years, Mr. Cabrera has concealed clear financial conflicts of interest that disqualify him from acting as an independent and objective evaluator of the evidence in the case," Chevron Vice President and General Counsel Hewitt Pate said. "While Mr. Cabrera`s financial interests alone are sufficient grounds for his report to be rejected, his intentional concealment of those interests further demonstrates that the entirety of his work lacks honesty, integrity, or credibility."

Feb 10 · 1:58:00 PM
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Schlumberger (SLB)

Schlumberger announced today that its Board of Directors has appointed Paal Kibsgaard Chief Operating Officer of Schlumberger Limited effective immediately.
Reporting to Andrew Gould, Chairman and Chief Executive Officer, Kibsgaard will be responsible for the day-to-day management of all worldwide operations in addition to the Schlumberger technology organization—including engineering, manufacturing and product development.

Feb 9 · 2:20:00 PM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

ConocoPhillips (COP)

Federal regulators have denied a request by U.S. oil major ConocoPhillips to build a system of bridges to expand oil drilling on Alaska's North Slope, saying the project would harm aquatic wildlife.
The U.S. Army Corps of Engineers denied ConocoPhillips' application to build the bridges.

Feb 9 · 2:09:00 PM · Source: The Wall Street Journal
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Exxon Mobil (XOM)

Ghana has not blocked a planned $4 billion oilfield stake sale by Kosmos Energy to Exxon Mobil but still threatens to do so if the parties do not abandon the deal, a government source said on Tuesday.
The source said the government had written to Exxon about the deal but had not gone beyond repeating the threat.

Feb 9 · 1:57:00 PM · Source: Reuters
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Previous · Next