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Wednesday, March 4, 2015

Links for 3/4/15: More 4th Quarter Results, USGS Report on Induced Earthquakes, and More

Press release: Chesapeake Utilities Corporation Announces Definitive Merger Agreement To Acquire Gatherco, Inc.   -   "Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities" or "Company") and Gatherco, Inc. ("Gatherco") today announced that they have entered into a merger agreement, dated as of January 30, 2015 under which Chesapeake Utilities will acquire Gatherco. Upon consummation of the transaction, Gatherco will merge into Aspire Energy..."

Gas & Oil:  Ohio Department of Natural Resources Buys Oil, Gas High-Tech Testing Equipment   -   "The state Controlling Board released more than $66,400 for high-tech testing equipment needed because of increased drilling activity in eastern Ohio's emerging shale oilfields. The funds will be used to purchase a Titration System from..."

WKSU News:  What Are World Oil Prices Doing to Ohio Oil and Gas Ambitions?   -   "OPEC is considering an emergency meeting if world crude prices continue to slide. And those prices continue to drop this week as investors worry about an oversupply of oil. All of that is impacting Ohio’s shale drilling – though not necessarily..."

North America Shale Blog:  State Oil and Gas Laws v. Local Control: The Struggle Continues in Ohio   -   "On February 17, 2015, the Ohio Supreme Court announced its ruling in The State Ex Rel. Morrison v. Beck Energy Corporation et al. That closely-watched case addressed whether local ordinances that impact drilling operations are preempted by the Ohio Department of Natural Resources’ (ODNR’s) authority to issue oil and gas drilling permits under R.C. Chapter..."

Seeking Alpha:  Chesapeake Energy -13% in Two Days Following Q4 Earnings   -   "Chesapeake Energy (CHK -4.1%) is sharply lower for a second straight day following disappointing Q4 earnings, as UBS downgrades shares to Neutral from Buy and cuts its price target to..."

Appalachian Shale Gas Blog:  Ohio Supreme Court to Hear Hupp v. Beck Energy   -   "The Ohio Supreme Court accepted jurisdiction of the Hupp v. Beck Energy case reversed on appeal by the Seventh District Court of Appeals. The mineral interest owners in Hupp challenged a standard form lease, arguing that..."

TribLIVE:  Energy Company Reconsiders Plans to Drill on Harmar Land   -   "Huntley & Huntley Energy Exploration says it is reevaluating its leasing efforts in Southwestern Pennsylvania because of Gov. Tom Wolf's proposed severance tax on natural gas extraction. The company cited the uncertainty generated by..."

USGS:  Coping With Earthquakes Induced by Fluid Injection   -   "A paper published today in Science provides a case for increasing transparency and data collection to enable strategies for mitigating the effects of human-induced earthquakes caused by wastewater injection associated with oil and gas production in the United States. The paper is the result of a series of workshops led by scientists at the U.S. Geological Survey in collaboration with the University of Colorado, Oklahoma Geological Survey and Lawrence Berkeley National Laboratory, suggests that it is possible to reduce the hazard of induced seismicity through..."

Pittsburgh Business Times:  Rex Energy Might Sell Some Pennsylvania Acreage to Boost Liquidity   -   "State College-based Rex Energy Corp.(NASDAQ:REXX) said it may consider selling its working interests in 28,300 gross acres in Westmoreland, Clearfield and Centre counties as a means to..."

Press release:  EnLink Midstream Extends Open Season for Ohio River Valley Condensate Pipeline System Project   -   "The EnLink Midstream companies, EnLink Midstream Partners, LP (NYSE:ENLK) (the Partnership) and EnLink Midstream, LLC (NYSE:ENLC) (the General Partner) (together “EnLink”), today announced an extension of the binding open season period to solicit volume commitments for interstate common carrier transportation service on a new condensate pipeline system (the “ORV Condensate Pipeline”). The open season, which was scheduled to end February 27, 2015 has been extended..."

Seeking Alpha:  Natural Gas: The Biggest EIA Report Of The Year Is A Dud   -   "Natural gas, to quote a good friend and fellow broadcaster, has been the Baby Ruth in the punchbowl this year for bulls. Oil and gas have moved significantly lower. Natural gas has dropped from highs of $6.493 on February 24, 2014 to close on Friday, February 27, 2015 at $2.71 - a drop of over 58%..."

Olean Times Herald:  Official: Potter County Could Reap Benefits from Utica Shale   -   "A full house turned out at the Gunzburger Building on Tuesday for a meeting on the Utica Shale layer beneath Potter County presented by the Natural Gas Resource Center. More than 110 people attended the meeting, whose main speaker was Dr. Terry Engelder of..."

Press release:  Antero Resources Announces Pricing of Upsized $750 Million Offering of Senior Notes   -   "Antero Resources Corporation (NYSE: AR) ("Antero" or the "Company") announced today the pricing of its private placement to eligible purchasers of $750 million in aggregate principal amount of 5.625% senior unsecured notes due June 2023..."

Press release:  MarkWest Energy Partners Closes Public Offering of Additional $650 Million of 4.875% Senior Notes Due 2024    -   "MarkWest Energy Partners, L.P. (NYSE: MWE) (the “Partnership”) and its subsidiary MarkWest Energy Finance Corporation (“Finance Corp.”) announced today the closing of a public offering of an additional $650 million of 4.875% senior unsecured notes due 2024 (the “Additional Notes”). The Partnership expects to receive net proceeds from the Additional Notes offering, after deducting..."

Press release:  GASFRAC Announces Agreement for the Sale of Substantially All Operating Assets and Related Technology and CCAA Update   -   "GASFRAC Energy Services Inc. (TSX:GFS) ("GASFRAC" or the "Corporation") announces today that GASFRAC has entered into a definitive asset purchase agreement in respect of the sale of substantially all of its assets and related technology to a third party oil and natural gas service industry purchaser (the "Sale Transaction"). The Sale Transaction resulted from the previously announced court-approved sale and..."

Press release:  Magnum Hunter Resources Reports Fourth Quarter and Full Year 2014 Financial and Operating Results   -   "Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT:MHR.PRD) (NYSE MKT: MHR.PRE) (the "Company" or "Magnum Hunter") announced today financial and operating results for the three months and twelve months ended December 31, 2014. The Company plans to file its Form 10-K for the year ended December 31, 2014 with the Securities and Exchange Commission later today, Monday, March 2, 2015. Highlights of the Company's financial and operating results include the following..."

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