Never mind that hydraulic fracturing was once again linked to an earthquake, this time a 4.0 tremor in Ohio on New Year’s Eve, the year 2012 kicked off in impressive fashion for the shale industry, which has been revolutionized by the controversial drilling practice. Undaunted by the environmental and geological challenges, two oil giants signed [...]
BHP Billiton is acquiring shale specialist Petrohawk Energy Corporation in an all-cash tender offer valued at approximately US$12.1 billion and a total enterprise value of approximately US$15.1 billion, including the assumption of net debt. BHP made its first big splash in the unconventional hydrocarbons with a deal to buy Chesapeake Energy’s Arkansas-based gas business for [...]
Speaking on US shale gas development at Shale Gas Eastern Europe 2011 in Warsaw, Poland, Daniel G. Rathan, Director A&D at Tudor Pickering Holt & Co. remarked, “The growth in this sector of the industry is just incredible. The Barnett shale had production in the early 90s, but the explosion of production happened in 2006 [...]
Global mining giant BHP Billiton has made its first move into shale gas, agreed to agreeing to buy shale gas interests from Chesapeake Energy Corp. In BHP’s first big acquisition since a string of failed deals, the global miner said it was buying Chesapeake’s holdings in Arkansas’ Fayetteville shale natural gas field for $4.75 billion. [...]
Chesapeake Energy Corp wants to sell holdings in Arkansas’ Fayetteville shale natural gas field and its stakes in two companies to raise $5 billion and trim its heavy debt load. News of the planned sale sent the company’s shares soaring as much as 7 percent, but the stock pared some gains and was up 5.4 [...]
Earlier this year, we reported that the world’s largest company had moved into Arkansas and acquired a sizable footprint in the Fayetteville Shale Play. That footprint looks to get bigger. ExxonMobil has agreed to buy Petrohawk Energy Corp.’s natural gas wells and pipelines in Arkansas. The $650 million deal gives ExxonMobil the third and fourth [...]
Independent energy company Petrohawk Energy Corp (HK.N) sold its natural gas assets in Fayetteville shale, Arkansas, to Exxon Mobil Corp (XOM.N) unit XTO Energy for $650 million, in a deal that analysts said undervalued the assets. Petrohawk shares were down 2 percent at $18.26 in midday trade on Thursday on the New York Stock Exchange, [...]
Pipeline company Regency Energy Partners LP will expand its gas pipeline infrastructure in south Texas to help it meet increasing producer demand in the Eagle Ford Shale area by boosting its capacity by 200 million cubic feet of natural gas a day. The expansion includes construction of a 45-mile pipeline in Webb County, Texas and the [...]
U.S. natural gas proved reserves jumped to their highest level in nearly 40 years in 2009, primarily driven by unconventional natural gas developments like Arkansas’ Fayetteville Shale play, the EIA announced Dec. 1. U.S reserves, estimated as “wet” gas which includes natural gas plant liquids, increased by 11% in 2009 to 284 trillion cubic feet [...]
Obama’s State Department is pitching the new hydrofraking technology worldwide, and Halliburton is delighted. Over the past two years, a controversial new drilling technique has unlocked massive reserves of U.S. natural gas, transforming the prospects for domestic energy production. The State Department has begun promoting the technology abroad, saying that if it were adopted in [...]
