Claudia Cattaneo of the National Post discusses why shale gas is the place to be: The Obama administration’s endorsement last week of shale gas as a major pillar of its made-in-America energy vision ensures a long-term future for the resource. The big question is: How does the North American sector survive today’s depressed market environment [...]
By Steve LeVine When someone invites you to a party but leaves before dessert, it might be time to locate your own coat and hat. Such are the suspicions generated by Chesapeake Energy, which after selling numerous billion-dollar pieces of its vast shale gas holdings to the world’s largest energy companies has abruptly announced that [...]
Qatar Petroleum (QP) could reconfigure its US import terminal to export gas in a bid to cash in on the US supply glut arising from the shale gas revolution, says one of Qatar’s prime ministers. The multibillion-dollar facility was procured before the US began producing abundant quantities of natural gas from hydraulic fracturing – or [...]
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 [...]
BP and ConocoPhillips now believe a major liquefied natural gas project is the best option for marketing North Slope gas, the chief executive officers of the two companies said following meetings with Gov. Sean Parnell Thursday morning. Robert Dudley of BP, James Mulva of ConocoPhillips and Rex Tillerson of ExxonMobil met with Parnell and then, [...]
In late 1998, Chesapeake Energy Corp., an independent natural-gas producer based in Oklahoma City, exemplified an industry in decline. The company’s stock price had fallen over two years from above $34 a share to 75 cents. Its market value tumbled 93 percent, to $72 million. “They’re running up a down escalator,” Michael Spohn, an analyst at Petroleum Research Group, [...]
Alaska’s Governor is positioning his state to become an exporter of liquefied natural gas to growing markets in Asia. Sean Parnell suggested that Alaska’s producers should ship natural gas overseas rather than to the U.S., saying the that Japan and other Asian countries may be a “better market for Alaska gas.” “If market demand for [...]
ConocoPhillips has purchased Marathon Oil Co.’s 30 percent interest in the Kenai natural gas liquefaction plant the two companies have owned since 1969, a ConocoPhillips spokeswoman confirmed Oct. 11. The purchase was completed Sept. 26 but was not announced, according to Natalie Lowman, the spokeswoman. The transaction occurs as ConocoPhillips, the operator prepares to mothball [...]
The United States plans to offer about 3 million acres of its onshore territory in Alaska for oil and gas leases later this year, a statement by the U.S. Bureau of Land Management (BLM) said on Tuesday. As per the BLM’s draft plan of the upcoming lease sale, 283 tracts are up for grab in [...]
1. Exxon Mobil The biggest natural gas producer is also the country’s biggest oil company and one of the most profitable corporations in the world. Exxon has operations in every continent but Antarctica. Its oil and gas operations range across several states, from Pennsylvania to Colorado, and it also has wells in the Gulf of [...]
