Much has been made about natural gas serving as a bridge fuel until more renewable energy can be fed into the US power grid. While that’s a somewhat controversial concept – with hard-core environmentalists preaching zero fossil fuels and hydrocarbon industry folks pooh-poohing renewables for multiple reasons – this National Journal piece explains the wind-to-gas… Keep reading →
Here is a roundup of some of this week’s more interesting energy deals: The BP-led Shah Deniz consortium signed a 25-year sales agreement for more than 10 billion cubic metres per year of natural gas from the second phase of development at the giant Shah Deniz field offshore Azerbaijan. Shah Deniz will deliver gas directly… Keep reading →
Spanish oil company Repsol and Argentina’s YPF are working through a bitter breakup in which the former is suing the Argentine government for $10.5 billion. Now Chevron is working with YPF to develop shale assets, much to Repsol’s chagrin. “It is scandalous that Chevron is acting in a way contrary to the law and to… 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 →