El Paso

Total Extends Chesapeake Partnership To Ohio Reserves: Oil Price Link Key

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Foreign companies continue to take a strong interest in US shale assets, with French oil firm Total’s $2.32 billion payout for a 25% share of a Utica Shale play in Ohio owned by Chesapeake Energy a recent highlight.

Some of the acreage for the new joint venture, which underlies all or most of ten counties in the latest region targeted by firms for both natural gas and oil or natural gas liquids was provided by Houston-based Enervest. The deal, announced December 31, 2011, covers 619,000 acres that Chesapeake says is in the “liquids-rich area of the Utica Shale,” and underlies all or a portion of ten counties in the Eastern part of the state. Keep reading →

 /  Published January 4, 2012 at 10:30 AM

Kinder Morgan Accelerates Growth With El Paso Purchase

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Kinder Morgan will pay $38 billion to purchase El Paso Corporation, creating a new giant in the lucrative business of moving energy supplies to market.

The $94 billion combined company will own roughly 80,000 miles of pipelines and become the fourth largest energy company in the US. The deal announcement is rife with precedent-setting statistics; the new Kinder Morgan will include the largest natural gas pipeline system in the US, the largest independent transporter of petroleum products and the largest independent terminal owner and operator in the country. Keep reading →

 /  Published October 18, 2011 at 6:00 AM