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Tuesday, September 29, 2015

09/29/15 Links of the Day: Chesapeake Energy Cutting Jobs, Debt Problems Loom Large for Drillers, and More

Columbus Business First:  Chesapeake Energy Cutting 750 Jobs, According to Media Reports in Oklahoma City   -   "Chesapeake Energy Corp., the largest oil and gas driller in Ohio, is laying off 750 employees, according to media outlets in its Oklahoma City home base. The company hasn't commented, but KFOR-TV is reporting employees were notified today and that cuts are..."

Energy in Depth:  Activists Fast for "World Free of Fracking" in (Failed) Attempt to Capitalize on Pope's Visit   -   "Yesterday, EID noted that a group of activists decided to try and capitalize on Pope Francis’ visit by fasting for 18 days to protest pipelines – or as one of their signs puts it, for a “world free of fracking.” According to..."

Forbes:  With Redeterminations Looming and Hedges Rolling Off, 4Q 2015 Looks Bleak   -   "October will mark the second bi-annual review of the credit lines for many heavily indebted shale players. Unfortunately their options are shrinking since oil prices now hover around $45 per barrel, significantly lower than the April 2015 mark of around..."

Baker Hughes:  Halliburton and Baker Hughes Announce Additional Divestiture Proposals   -   "Halliburton Company(NYSE: HAL) and Baker Hughes Incorporated (NYSE: BHI) today announced that the companies will market for sale additional businesses in connection with Halliburton’s pending acquisition of Baker Hughes. Pursuant to the Merger Agreement, and in order to permit..."

Washington Free Beacon:  Jeb Bush Energy Plan Gets Personal   -   "A week after Democratic presidential frontrunner Hillary Clinton proposed policies to scale back U.S. oil production, Republican hopeful Jeb Bush is emphasizing the economic benefits of continuing to expand it. Bush is releasing..."

The Journal Record:  Massive Layoffs Reported at Chesapeake Energy   -   "As of 11:30 a.m., the company had not released any official information. But analyst Neal Dingmann said the layoff could be more severe than the company’s October 2013 round, when Chesapeake laid off 800 people, including 640 at..."

Oil and Gas Investor:  Appalachian Basin: Robust and Viable   -   "So far in 2015, operators in the Appalachian Basin have been adjusting to changes in commodity prices. Conservative exploration and production strategies are being emphasized in order to better position operators in the depressed price..."

Platts:  No Sign of OPEC Policy Shift as Low Crude Oil Prices Bite Into Supply   -   "OPEC's next meeting is just ten weeks away and, barring some unforeseen development, there's little sign of a policy change in the offing. If anything, forecast declines in non-OPEC production may bolster Saudi Arabia's..."

Fortune:  Why America's Power Grid Needs Natural Gas Now More than Ever   -   "Now that the Obama administration has finalized its Clean Power Plan regulating greenhouse gas (GHG) emissions from the power sector, the focus of attention turns to the states, which must now find a way to reduce emissions consistent with..."

Butler Eagle:  XTO Seeks to Have Lawsuit Over Royalties Dismissed   -   "XTO Energy filed a motion Monday to dismiss a lawsuit filed against it over how it calculates royalty payments. On July 14, the Thiele family and Richard Marburger as a trustee of the Olive M. Marburger living trust, both Butler County landowners, filed a suit..."

The New York Times:  New York's Southern Tier, Once a Home for Big Business, is Struggling   -   "The region is resource rich, but landowners are angry the government will not let them capitalize on it. Many had pinned their hopes of an economic revival on the prospect of the state’s authorizing hydraulic fracturing, known as..."


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