In this Bloomberg video, Aubrey McClendon, CEO of Chesapeake Energy discusses the economics, logistics and potential of using natural gas as a transportation fuel. Current costs vary depending upon the source of gas but are generally equivalent to under $2.00 per gallon gasoline. Chesapeake plans to invest $1 billion to support natural gas as a vehicle fuel.
More at Bloomberg.com.
On July 28th Chesapeake Energy announced spectacular drilling results for multiple wells in the Utica Shale of eastern Ohio. In this video, Chesapeake CEO Aubrey NcClendon tells Jim Cramer about the significance and potential value of their discovery. See the video and more at CNBC.com.
A post on the Seeking Alpha blog details how successful Chesapeake Energy has been at rapidly leasing enormous acreages in all of the major natural gas shale plays in the United States. They author calls them a “land acquisition machine”.
A article in the Dayton Daily News reports that oil and gas companies are rushing to lease land above the Utica Shale in eastern and central Ohio. They report that Chesapeak Energy has spent $1 billion on Utica Shale leases in Ohio.
An article on FuelFix explains why EOG Resources, Devon Energy and Chesapeake Energy are considered to be among the best-paying companies in the United States. This article also illustrates the amazing salary opportunities available through jobs in the natural gas industry.
BHP Billiton, the worlds largest mining company which also holds major oil and gas interests, has purchased a $4.7 billion stake in the Fayetteville Shale from Chesapeake Energy. More at Reuters.
An article on the ABCNews site reports that Chesapeake Energy hopes to sell $5 billion in assets during calendar year 2012. Included in the sale are all of Chesapeake’s holdings in the Fayetteville Shale in Arkansas.
Several landowners in Texas are going after Chesapeake Energy for promising to lease their Barnett Shale properties and then backing out of the deal. More on a Christopher Helman blog post at Forbes.com.
Last year Chesapeake Energy paid out nearly $300 million in Barnett Shale royalties and this year plans to drill over 300 new wells.
