Chesapeake sales $2 Billion of Utica assets to Houston’s Encino
As per the deal, Chesapeake Energy will sell more than 900,000 net acres of leasehold spanning the condensate, liquids-rich and dry gas windows of the Utica play in Ohio.
The assets considered for the sale also include approximately 900 wells which produce more than 600 million cubic feet of gas equivalent per day and hold 85% of the acreage…..
Shell announces $25 billion share “buyback†program
Royal Dutch Shell plc announced the launch of a $25 billion share buyback program on Thursday.
“Today, Shell starts a share buyback program of at least $25 billion in the period 2018-2020, subject to further progress with debt reduction and oil price conditions,†the company said in a statement on its website….
50% of the global oil supply has been targeted by tariffs, Texas
The oil and gas industry remains one of the most resilient and impactful sectors in the country, despite efforts by some to derail domestic production based on an ideology, not science, and certain ill-conceived policies carrying unintended consequences.
Though operators have welcomed a reprieve from overly burdensome federal regulations targeting the oil and gas industry under President Donald Trump, newly implemented tariffs on steel and aluminum products by the Trump administration already are having a negative impact on infrastructure development and drilling projects throughout the country…
First fracking permit issued in the UK
Shale gas developer Cuadrilla on Tuesday became the first operator in Britain to receive final consent from the government to frack an onshore horizontal exploration well, paving the way for commercial production.
The government said it had granted approval for so-called hydraulic fracturing to take place at Cuadrilla’s Preston New Road site in northwest England…
Ocean Rig Skyros keeps a healthy dayrate of 573k with Total Angola until 2021
Ocean Rig has just provided an update on recent contracts. We haven’t seen much movement on the floater side in drillers’ fleet status reports so far (see Ensco (ESV) fleet status report, Rowan (RDC) fleet status report and Noble Corp. (NE) fleet status report), so an update from a floater pure-play is very interesting…
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