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.
The United States Department of Energy expects natural gas drillers to cut back on new drilling in response to lower natural gas prices. Some companies such as Chesapeake Energy are moving their focus toward drilling for oil. More at Bloomberg.com.
Chesapeake Energy will purchase rights to 23,180 acres of Eagle Ford Shale in Texas from Antares Energy Ltd. for $200 million. More at the Oil and Gas Journal.
Chesapeake Energy was spending a lot of money housing hundreds of employees in hotels in northeastern Pennsylvania. They recently completed a housing and training facility in Athens Township. More at TheDailyReview.com.
CNOOC, China National Offshore Oil Corporation, has agreed to purchase a 1/3 stake in Chesapeake Energy’s Eagle Ford Shale properties in South Texas for over $1B. More at Reuters.com.
CNOOC, Ltd., a Chinese company, has agreed to purchase a stake in the Eagle Ford Shale of southeastern Texas from Chesapeake Energy Corporation for $1.1 Billion. More at Yahoo! News.
Is there another Marcellus Shale or Haynesville Shale waiting to be discovered somewhere in the United States? Aubrey McClendon, CEO of Chesapeake Energy believes that the important basins have been thoroughly investigated. More at RigZone.com.
Chesapeake Energy is working to get an LNG export terminal at their Sabine Pass, Louisiana facility. There they can receive gas from their Haynesville, Barnette and Eagle Ford fields and prepare it for shipment to other countries where the price of gas is much higher. More at PennEnergy.com.
How much is an acre of natural gas shale rights worth? Perhaps the best way to determine that is to calculate how much the big companies pay when they buy assets from one another. Shouldn’t they have a better handle on the value of the gas than just about anyone? Sometimes the prices will surprise you. An article in Daily Worth looks at big transactions and sees prices of $10,000 and $12,000 per acre in the Eagle Ford.
Chesapeake Energy now has permission to build compression stations in Wetzel County, West Virginia. These stations are an essential part of the pipeline system that will transport natural gas between wellhead and consumers. More at the Wheeling News-Register.
Chesapeake Energy, Statoil and Sasol Petroleum International are partnering on a study of natural gas shales in the Karoo Basin of South Africa based upon archived core. More at NewsOK.com.
Chesapeake Energy is diversifying. An article on the BusinessWeek site reports that they started diversifying into oil and natural gas liquids.
An article on the Syracuse.com website reports that Chesapeake Energy wants to store 663 million (??) gallons of hydrofrack water produced in Pennsylvania in a well about a mile from Keuka Lake.
| Storing Hydrofracking Wastewater near Keuka Lake |
With the number of large companies taking stakes in the United States shale gas plays will a glut of natural gas develop? An article on the Reuters website reports that Aubrey McClendon, CEO of Chesapeake Energy, says he does not see the world swamped with natural gas.
