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Monday, November 7, 2016

11/07/16 Links of the Day: Baker Hughes Tries a New Deal, OH Landowners Lose Pipeline Fight, and More

Business Wire:  GE and Baker Hughes Agree to Create New Fullstream Digital Industrial Services Company   -   "GE (NYSE:GE) and Baker Hughes (NYSE:BHI) today announced that the companies have entered into an agreement to combine GE’s oil and gas business (“GE Oil & Gas”) and Baker Hughes to create a world-leading oilfield technology provider with a unique mix of service and equipment capabilities. The “New” Baker Hughes will be a leading..."

Vorys, Sater, Seymour and Pease LLP:  Ohio Appellate Court Rejects Landowner's Challenge to Pipeline   -   "In Sunoco Pipeline L.P. v. Teter, Ohio’s Seventh District Court of Appeals rejected a landowner challenge to Sunoco’s acquisition of an easement through eminent domain to construct its Mariner East 2 Pipeline. The landowner contested Sunoco’s exercise of eminent domain on the basis that pure propane and pure butane..."

Law360:  ECA Loses Bid to Nix $1.1M Landowner Royalties Verdict   -   "A class of landowners who say they were underpaid for natural gas royalties are entitled to a $1.1 million judgment from Energy Corp. of America, a Third Circuit panel ruled Monday, finding that the company didn't prove its need for a new trial. The landowners leased their mineral rights to..."

Argus Media:  DTE: Nexus Pipeline on Schedule for 4Q 2017   -   "The 255-mile Nexus Gas Transmission pipeline has gained additional customer commitments and is on schedule to be in-service during the fourth quarter 2017. The pipeline signed its first tap and interconnect agreement in Ohio with a local distribution company, DTE Energy senior vice president Peter Oleksiak said during an earnings call this week. Spectra Energy and DTE Energy are developing..."

Platts:  Consol Returns to Drilling in Dry Utica as Q3 Oil/Gas Output Jumps 12% On Year   -   "Appalachian Basin natural gas producer Consol Energy on Tuesday posted a 12% increase in oil and gas production in the third quarter compared with Q3 2015, reflecting its return to drilling in the dry Utica play early in the quarter. During the quarter, the company produced 96.4 Bcfe, or 1.05 Bcfe/d, compared with..."

Press release:  Rice Energy Reports Third Quarter 2016 Financial and Operating Results   -   "Rice Energy Inc. (NYSE: RICE) ("Rice Energy") today reported third quarter 2016 financial and operating results. Highlights to date include: Third quarter net production increased 23% over the prior year quarter to an average of 747 MMcfe/d, after taking into account a decrease of approximately 27 MMcfe/d related to a prior..."

Press release:  Eclipse Resources Corporation Announces Third Quarter 2016 Financial and Operational Results   -   "Eclipse Resources Corporation (NYSE:ECR) (the “Company” or “Eclipse Resources”) today announced its third quarter 2016 financial and operational results. Third Quarter 2016 Highlights: Average net daily production was 221.6 MMcfe per day, exceeding the high end of..."

Gas & Oil:  Severed Mineral Rights Owners to Benefit From Recent Supreme Court Ruling but Challenges Remain   -   "On September 15, 2016, there was a sudden, dramatic and unexpected shift in ownership rights of mineral interests when the Ohio Supreme Court issued its ruling in Corban v. Chesapeake Exploration, LLC, 2016-Ohio-5796. To recap, the Court held that the 1989 version of the Ohio Dormant Mineral Act (“DMA”) was not self-executing; rather, surface owners were required..."

Press release:  Gulfport Energy Corporation Reports Third Quarter 2016 Results   -   "Gulfport Energy Corporation (NASDAQ:GPOR) (“Gulfport” or the “Company”) today reported financial and operational results for the quarter ended September 30, 2016 and provided an update on its 2016 activities. Key information for the third quarter of 2016 includes the following..."

Bloomberg:  It's Getting Tougher for Shale Drillers to Impress Investors   -   "Wall Street’s oil analysts are getting harder to impress. After two straight quarters when the U.S. shale industry posted outsized oil production figures that clobbered expectations, explorers are finding it more difficult to be overachievers. Once-innovative engineering tricks such as drilling two-mile long sideways wells and cracking..."

Energy in Depth:  Activists Love Document Discovery For Exxon, Don't Love it as Much When it's Focused on Them   -   "Activists working at the Rockefeller foundations and groups like the Union of Concerned Scientists (UCS) have made it their mission since at least their infamous 2012 anti-Exxon conference in La Jolla, California to do everything they can to orchestrate an AG investigation of ExxonMobil under racketeering laws. So we all had pretty good laugh when Kenneth Kimmel of UCS complained to the Washington Post this week about being..."

The Intelligencer:  Utica Shale Output Still Surging in Ohio Valley   -   "Despite Gulfport Energy’s $157 million loss from July 1 through Sept. 30, the company joined fellow frackers Consol Energy and Rice Energy to continue increasing natural gas output in eastern Ohio’s Utica Shale field. During the third quarter, Consol’s Utica production reached 22.5 billion cubic feet of natural gas, which is a 47 percent increase..."


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