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Thursday, September 10, 2015

09/10/15 Links of the Day: Chesapeake Energy Makes Deal, Crude Export Ban Moving Towards Repeal, and More

Natural Gas Now:  Gone with the Wind: Wind Energy Runs Dry?   -   "There is no word used more often than “unexpected” to explain the collapse of the comprehensive plans and utopian schemes human beings, in their fatal conceit, repeatedly attempt to foist upon their own kind. The excuse when things go awry is always the same – something “unexpected” happened. We here it a lot lately, of course, and readers can fill in their own examples, but shale gas was clearly..."

NGI:  Feds Report Marcellus, Utica Drilling Down 40% Since 4Q2014   -   "Ongoing low commodity prices have the energy sector either stuck in neutral or slowing down, depending on the section of the country, with the slowdown most evident in the Cleveland District, where..."

Magnum Hunter:  Magnum Hunter Resources Receives Continued Listing Standard Notification From NYSE Regarding Common Stock   -   "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 that on August 31, 2015, it received notice from the New York Stock Exchange (the "NYSE") that the Company is no longer in compliance with the NYSE's continued listing standards for..."

Williams Companies:  Williams and Chesapeake Energy Execute Expansion of Gas Gathering Services and Acreage Dedication in the Dry Utica, Consolidate Haynesville Gas Gathering Agreements   -   "Williams (NYSE:WMB) today announced an expansion of gas gathering services for Chesapeake Energy (NYSE:CHK) in growing dry gas production areas of the Utica Shale in eastern Ohio and a consolidation of contracts in the Haynesville Shale in..."

Oil Change International:  US Shale Capital "Starting to Dry Up"   -   "The US shale revolution is slowly grinding to a halt as the continuing low oil price takes its toll on the viability of fracking in the country. Slowly but surely the amount of capital being invested is dwindling. As Ed Crooks writes in today’s Financial Times: “The world may run on oil, but the oil industry runs on capital, and for US shale producers..."

Seeking Alpha:  Refuting the Natural Gas Bears   -   "I have summarized the lists of criticisms described in the comments section of my original article. 1. Natural gas (NYSEARCA:UNG) inventory levels are incredibly high. Therefore, even with a cold winter, supply will greatly outstrip demand and prices will remain under $2.70 mmBtu for years. 2. Producers can make money at $1 mmBtu, and the performance of their stock price has zero correlation or impact on..."

TheHill:  EPA's Crumbling Case for New Regs on Fracking   -   "The Environmental Protection Agency (EPA) recently rolled out new regulations on methane emissions for oil and gas development. These rules come even as the industry has slashed emissions in recent years, all while natural gas production has skyrocketed. They will hurt the men and women who work for..."

SNL:  Judicial Battlefront: Courtroom Battles Targeting Coal Where it Digs   -   "While the market continues to batter the coal sector and legislative relief from regulatory pressures seems increasingly distant, coal companies also increasingly find themselves waging expensive battles in the nation's courtrooms. Traditional environmentalism often focused on the local and visible effects of industry, however, the current so-called "war on coal" is..."

Millennium Stimulation Services:  Hydraulic Fracturing Set to Reduce Greenhouse Gases Using Waterless Solution   -   "Millennium Stimulation Services ('Millennium') is introducing a patented process of using Energized Natural Gas (ENG) as a fluid solution for hydraulic fracturing. This process allows a virtually complete replacement of water volumes while eliminating the need to vent gas or flare gas emissions into the atmosphere. E & P companies also stand to benefit from..."

NGI:  Bass, Others Settle Barnett Shale Royalties Lawsuit with Chesapeake   -   "Texas oil and gas investor Ed Bass and more than a dozen other Barnett Shale mineral rights owners settled a lawsuit against Chesapeake Operating Inc. for alleged underpayment of oil and gas royalties. Terms are confidential..."

Seeking Alpha:  Chesapeake Energy: The Return of the Gassy King   -   "Thanks to the new agreements, Chesapeake Energy (NYSE:CHK) gained 20-30% reductions in natural gas differentials in the two prospective regions (Haynesville and Utica) from 2016. The company's guidance should be considerably improved. Improvement in annual..."

Reuters:  U.S. Shale Giants Turn to 2016 with Somber Outlook   -   "Some of the largest U.S. shale oil producers have already begun slashing 2016 budgets, with some planning double-digit reductions starting next January, the latest sign low crude prices are forcing a radical adjustment in the industry. A rash of bleak commentaries from CEOs this week marks one of the earliest times in a calendar year that oil producers have..."

Yale Environment 360:  Natural Gas Pipeline Updates Can Cut Greenhouse Gas Leaks by 90 Percent   -   "Pipeline replacement programs in cities can cut natural gas leaks by 90 percent, curbing the release of the powerful greenhouse gas methane and boosting public safety, according to a study published in Environmental Science & Technology Letters. Researchers drove cars equipped with sensitive..."

Fuel Fix:  Citigroup Sees U.S. Oil Production Falling 500,000 Barrels Per Day by End of 2015   -   "A funding squeeze threatens to cut U.S. oil output by as much as half a million barrels a day by the end of the year, with shale producers among the worst affected, Citigroup Inc. said. “Capital markets thus far have plugged shale’s funding gap but are showing signs of tightening, with impacts for drilling, oil supply and global prices,” Richard Morse and Ed Morse, analysts at Citigroup in New York, said in a note. Access to high-yield credit markets for debt-strapped producers is..."

Oil & Gas Journal:  US House Poised to Approve Crude Export Ban Repeal, Bill's Sponsors Say   -   "The US House is likely to move quickly and approve legislation repealing a 40-year-old ban on exports of domestically produced crude oil, Reps. Joe Barton (R-Tex.) and Henry Cuellar (D-Tex.) said shortly before an Energy and Commerce Committee subcommittee began marking up their bill. “This is a relic. We’re going to start the process to repeal it..."

SFGate:  Jerry Brown: Oil Lobby Gutted Climate Bill   -   "Gov. Jerry Brown and legislative leaders said a well-financed oil industry won a fight over the state’s efforts to pass legislation that would drastically reduce California’s gas consumption. But the feisty governor pledged to keep pushing for..."



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