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Wednesday, March 2, 2016

3/2/16 Links of the Day: Chesapeake Still Fighting, Exxon Gearing Up, Cornell Professor/Activist Exposed in Court, and More

Fortune:  Why a Production Freeze Won't Fix the Oil Collapse   -   "It’s time to change our mindset about fossil fuels. Long ago, in a galaxy far, far away, the news of “collusion” between Russia, Saudi Arabia, Venezuela and Qatar to freeze petroleum production would have been greeted with howls that this was a declaration of..."

Seeking Alpha:  Chesapeake Energy - Still Alive, Barely   -   "To all appearances, gas and oil fracking giant Chesapeake Energy Corporation (NYSE:CHK) is a prime candidate for a bankruptcy restructuring. Its capital structure is wobbly, profoundly unsound. The losses are large and they flow with frustrating consistency..."

National Review:  Mark Ruffalo: Environmental Hypocrite and Academy Award Nominee   -   "It’s a long journey from Manhattan to Los Angeles without burning any fossil fuels, so hopefully Academy Award nominee Mark Ruffalo started walking several weeks ago. Ruffalo — nominated for Best Supporting Actor for his role in Spotlight — is one of Hollywood’s most outspoken..."

Seeking Alpha:  Williams: Too Many Questions   -   "Williams Companies' (NYSE:WMB) quarterly results brought some interesting points regarding Energy Transfer Equity (NYSE:ETE) and Chesapeake Energy (NYSE:CHK). The details didn't really provide a resolution to the outstanding issues highlighted in my last article. The stock rebounded over the last couple of weeks following..."

SNL:  Obama's Proposed Oil Fee Could Hit Bottom Lines of E&P, Midstream Players   -   "The Obama administration's proposed $10.25-per-barrel fee on oil would further pressure midstream and upstream energy players already facing a maze of problems, industry observers said. The fee, which was presented in President Barack Obama's fiscal 2017 budget proposal and would be imposed on every barrel of oil used domestically, could hit producers in the form of a reduction in demand from customers who would eventually shoulder the costs..."

Forbes:  Midstream MLPs Cringe as Bankruptcy Judge Mulls Rejecting Gathering Contract   -   "A little-noticed bankruptcy case in New York City is starting to draw intense stares from across the pipeline industry as a judge ponders whether to allow Sabine Oil & Gas to get out of contracts requiring it to ship its products through gathering systems owned by a unit of Cheniere Energy . The answer to that question could determine the viability of billions of dollars in similar contracts..."

WDRB News:  Coast Guard Drops Plan to Let Barges Carry Fracking Wastewater on U.S. Rivers   -   "The Coast Guard won’t adopt a policy clearing the way for barges to ship large amounts of fracking wastewater on the Ohio River and other waterways. The agency, which regulates safety rules for vessels that carry hazardous materials, formally withdrew..."

New York Times:  Once a Coup, Pipeline Company Deal Becomes a Nightmare   -   "Over the last decade, Kelcy Warren became one of the great beneficiaries of America’s energy boom. The son of a Texas oil-field worker, Mr. Warren built a multibillion-dollar fortune amassing a 71,000-mile network of pipelines across..."

Reuters:  Southwestern Gets Lower Pipeline, Gathering Rates with Williams   -   "Southwestern Energy Co, said on Thursday it and Williams Companies Inc have negotiated lower rates to gather, transport and process natural gas it produces in West Virginia in exchange for some new business for the pipeline operator. Pipeline operators, once seen as more insulated from commodity price swings by fixed-fee contracts, are now taking price cuts..."

Business Journal Daily:  Lordstown Power Plant Could Spawn Second Plant   -   "Not one – but possibly two –electrical generation plants fueled by natural gas could be built in the village of Lordstown over the next six years, resulting in an investment of well over $1 billion. Massachusetts-based Clean Energy Future LLC, the company behind the construction of a proposed $850 million natural gas power plant in Lordstown, is considering building a sister plant on the..."

Akron Beacon Journal:  Chesapeake's Average Well in Utica Shale Costs $7.2 Million   -   "Chesapeake Energy Corp. reported that its average Utica Shale well cost the company $7.2 million. The average lateral is 7,800 feet and was fracked in 40 stages. In 2014, the average lateral was only..."

Press release:  GreenHunter Resources and Subsidiaries File Voluntary Chapter 11 Petitions   -   "GreenHunter Resources, Inc. (the “Company”) (NYSE MKT:GRH) (NYSE MKT:GRH.PC), a diversified water resource, waste management, environmental services, and hydrocarbon marketing company specializing in the unconventional oil and natural gas shale resource plays within the Appalachian Basin, announced today that the Company and certain of its subsidiaries, namely..."

Natural Gas Now:  Tony Ingraffea: The Tiger or the Greased Pig Who Got Caught?   -   "Tony Ingraffea, known within my circle of gas supporters as “Tony the Tiger” made an appearance on the stand in Scott Ely trial against Cabot Oil and Gas yesterday. I’ve debated Tony more than once and know what a polite but slippery character he is. He’s a greased pig..."

Press release:  Rex Energy Announces $175 Million Joint Exploration and Development Agreement in Moraine East and Warrior North Operated Areas   -   "Rex Energy has entered into an agreement with an affiliate of Benefit Street Partners L.L.C. ("BSP") to jointly develop 58 specifically designated wells in the company's Moraine East and Warrior North operated areas. Under the agreement, BSP has committed to fund 15% of the first 16 wells in Moraine East, 12 of which have already been drilled and completed, and 65% of six wells in Warrior North, three of which..."

Bloomberg Business:  Exxon Sells $12 Billion in Bonds to Build War Chest   -   "Exxon Mobil Corp. raised $12 billion in its biggest bond sale on record and may use the funds to snap up rivals amid a commodities bust. The world’s largest oil company, which is at risk of losing its top-notch credit rating, sold the debt in eight parts at above average yields, according to data compiled by Bloomberg. The sale comes after..."

American Enterprise Institute:  Some charts and updates on America’s amazing shale revolution, it’s not over yet…   -   "The Energy Information Administration released a lot of year-end production and other energy-related data this week, and there’s been a lot of shale energy-related news recently, so I present below 10 items (including 6 charts) highlighting America’s Amazing Shale Revolution..."


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