Welcome to PennEnergy, your destination for the latest information on the Energy Industry.
Welcome to PennEnergy, your destination for the latest information on the Energy Industry.
From the Pages of Oil & Gas Financial Journal
Shale gas assets offer acquirers rich reserves, stable production(Dec 1, 2010) Chevron's announcement last month that it is acquiring Atlas Energy, a large acreage holder in Pennsylvania's gas-rich Marcellus shale play for $4.3 billion, is another sign that the long-term outlook for natural gas is positive.
Chevron buys Atlas Energy in $4.3B deal, enters shale business(Dec 1, 2010) Following recent shale asset acquisitions in Poland, Romania, and Canada, Chevron Corp. has made a large grab at the North American shale industry, particularly the gas-rich Marcellus shale.
Managing risk and uncertainty provides competitive advantage(Dec 1, 2010) The current preoccupation with deepwater development risks and uncertainties has an interesting parallel to the global preoccupation with emerging risks in the broader world economy.
US transactions rise in past month(Dec 1, 2010) Two of the larger deals from mid-October to mid-November were the Chevron Corp. acquisition of Atlas Energy for $4.3 billion ($3.2 billion in cash and the assumption of about $1.1 billion in debt) and Newfield Exploration's purchase and sale agreement with EOG Resources in which Newfield acquired about 50,000 net acres in the Marcellus Shale in a transaction valued at roughly $405 million.
Antero Resources closes Oklahoma midstream sale to Cardinal(Dec 1, 2010) Antero Resources has closed the previously announced sale of its midstream assets, located in the Woodford Shale area of the Arkoma Basin, to Cardinal Midstream LLC for $270 million.
Singapore: Leadership in Pro-Active Thinking(Dec 1, 2010) If you go downtown to the business district, the theatre district, you can see it is well kept...handsome buildings, lots of theatres, plays, musicals, arts, along well-kept streets.
Post oil spill: why risk mitigation is now a top-line driver(Nov 1, 2010) Post oil spill, drilling contractors and operators are increasing their risk mitigation efforts to meet new offshore industry and governmental regulations and avoid the punishing penalties, public outcry and exorbitant costs associated with health, safety, and environmental (HSE) incidents.
Europe may be setting for next shale revolution(Nov 1, 2010) Europe, which has long been reliant on outside sources for its natural gas and oil supplies, may be on the brink of developing its own supplies.
