Spanish energy company Repsol says it will sell $7.1 billion in non-strategic assets over the next five years as part of a plan to increase efficiency and cope with weak oil prices. [US News/AP] U.S. law enforcement officials revealed ISIS have attempted cyber attacks at a conference of American energy firms who were meeting about… Keep reading →
Testing by an EU-funded research group has revealed discrepancies between the amount of energy used by Samsung TVs in official testing compared to real life. [The Independent] The world’s energy infrastructure is at risk from the extreme weather expected to result from climate change, a group of prominent energy companies has warned. [The Guardian] Spanish energy… Keep reading →
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 →
Energy law was a star performer for the sector in the first quarter of 2013.
Only a spate of mega-deals in the technology, media and telecoms space kept energy sector legal work from once again taking the top spot in law firm activity in the first quarter of 2013 according to the latest rankings and data from Mergermarket. 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 →
US oil companies would be hobbled in their response to an oil spill from wells off the cost of Cuba, a Senate committee heard this week.
If there’s an oil spill from wells being drilled off the Cuban coast, US companies have sophisticated response equipment just 100 miles away – but couldn’t use it due to long-standing sanctions against Cuba. Keep reading →
