Jefferies Company

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 →

A New Jersey fight over new electric generating capacity raised a wide range of fundamental power market issues as it intensified late last week.

New Jersey’s top utilities regulator clashed with the head of the grid manager PJM on Friday over plans to build three new gas-fired power stations in a bid to bring down high retail electricity costs. Keep reading →