After turning down a purchase offer from a large company for a majority stake in more than 100,000 prospective Utica shale acres, upstream master limited partnership EV Energy Partners (EVEP) is finding that many of the buyers in the market have more of an appetite for smaller deals.
EVEP has been marketing 103,800 acres in the Ohio portion of the Utica shale spanning black oil, light oil, wet gas and dry gas zones. But the company recently turned down an offer from a large prospective buyer, citing unacceptable deal terms. Keep reading →
Analysts mostly agree that Chesapeake Energy received a relatively low price for the Mississippi Lime acreage it agreed to sell to China’s Sinopec for $1.02 billion. What is less clear though, is whether the price Chesapeake received reflects the company’s position as a distressed seller, or the quality of the assets sold. The Mississippi Lime is a shale play extending from northern Oklahoma into central Kansas.
“From my perspective, the proceeds looked a bit light on a per acre basis as well as per barrel of oil equivalent on a proved reserve basis,” Phil Weiss, Senior Analyst covering energy for Argus Research recently told Breaking Energy in an email. Keep reading →
With swelling U.S. natural gas inventories, swooning futures prices, and weather that has recently seen little need for gas as a heating fuel, it’s hard to believe that prices are headed off their current decade lows.
But not according to Chesapeake. Keep reading →
Investments rose in the last quarter in the cleantech sector despite market volatility and the collapse of Solyndra, CEO of Cleantech Group said today.
Sheeraz Haji said that $2.23 billion in capital investments across 189 clean tech deals were made in the third quarter this year, a 12% increase from the last quarter, and a 23% in the same quarter last year. Keep reading →