Saturday, October 16, 2010

McClendon says no more major shale discoveries in the US

Aubrey McClendon, chairman, CEO, and founder of Chesapeake Energy, one of the first oil and gas producers to develop shale gas properties in the United States, says the “discovery bonanza” in the US is over and that investors shouldn’t expect major new shale discoveries.

Sunday, October 10, 2010

Chinese buy third of Chesapeake South Texas field

OKLAHOMA CITY (AP) -- China's state-owned offshore oil and gas company has bought a one-third interest in 600,000 acres that Chesapeake Energy leases in a South Texas oil and gas field.

CNOOK (SEE'-nook) Ltd. and Oklahoma City-based Chesapeake announced the deal worth up to $2.16 billion Sunday in the Eagle Ford Shale project between Laredo and San Antonio. A joint statement says CNOOC will pay Chesapeake $1.08 billion in cash at closing and share 75 percent of Chesapeake's drilling and completion costs up to another $1.08 billion.

Talisman, Statoil to Buy, Operate Texas Oil Shale

Talisman Energy Inc., the Canadian oil and natural gas explorer, and Statoil ASA, Norway’s largest oil and gas company, said they agreed to pay $1.33 billion for oil shale properties in the Eagle Ford formation in South Texas and form a joint venture to develop the fields.

Tuesday, October 5, 2010

Cabot Oil Reports New Financing, Strong Output From New Wells

Cabot Oil & Gas Corp. (COG) began production from a second well in the Eagle Ford shale in Texas while two other wells in the Marcellus Shale in Pennsylvania continue to see improved outp

Saturday, October 2, 2010

Texas woman sues Chesapeake, seeking royalties

The suit said Chesapeake Operating Inc. should base royalties on the full market value of natural gas. But it said that instead, it bases them on a "fictitious" price that it gets from Chesapeake Energy - a price far below the one Chesapeake Energy gets from real customers.

Tuesday, September 28, 2010

Is Asia Ready for a Shale Gas Revolution?

The oil and gas industry has its own version of The Amazing Race, and it involves scouring the globe for analogues to North America's great oil and gas shale plays, like the Bakken and the Barnett. All sorts of Asian energy players have struck joint ventures with independents like Chesapeake Energy and Encana, in part to gain knowledge that can be applied in their own backyard. It's very early days yet, but let's see what sort of activity is happening over in that part of the world.

Enerplus acquires acreage in Bakken, Marcellus shale plays

Enerplus Resources Fund, Calgary, said it bought several Bakken and Marcellus assets and sold its Kirby oil sands lease.