While representing only a fraction of the total production platforms in the region, BSEE said about 11 percent of the total regional oil production and 5.5 percent of the total gas production is idled because of the weather.
They cornered the rare earth market by buying everything in sight. What they can't steal, they will buy.
The cost to drill a horizontal well was around $12M by mid 2015. They drilled 700 wells in four years to reach a production level of .38Bcf per day. Of course they would have drilled where it would be the most productive.
Ackman wish list. You will never know what Icahn is thinking of doing, not even from his own statements.
Solution: never post anything that you need to remove. Integrity should be your normal behavior, not Hypocrisy.
Blackstone (BX) today announced the formation of Jetta Permian, LP (“Jetta Permian”), a partnership between an affiliate of Jetta Operating Company, Inc. (“Jetta”) headquartered in Fort Worth, Texas and funds managed by Blackstone Energy Partners L.P. (“Blackstone”). Jetta Permian will target assets and leasehold in the Delaware Basin located in West Texas and southern New Mexico with $1.0 billion of capital committed from Blackstone and Jetta’s partners.
A commitment of this scale, and flexibility combined with Jetta’s deep technical expertise and a long-term focus on best-in-class operations and results enables and differentiates Jetta Permian to pursue creative and unique opportunities of scale within the Delaware basin. Jetta’s strategy includes pursuing asset and leasehold acquisition opportunities, farm-in transactions and partnerships or joint ventures with existing operators and landowners.
He's invested in both bonds and equity. He says energy is the most attractive area to invest at this time. He particularly likes NG and its increase in consumption. He says that oil at $30 based on a couple of million barrels a day surplus was stupid. He says that NG is the place to go as a long term investor.
The new debt will be secured against the same collateral that is tied to the company’s revolver. In case of default, payments to new term loan creditors will waterfall down after the revolver is repaid. The loan will carry an unconditional guarantee from Chesapeake’s directly and indirectly held wholly owned domestic subsidiaries, with the same guarantee in place for the revolving credit.
Agencies assigned issue ratings of B–/Caa1 and the recovery rating from S&P Global Ratings is 1. S&P Global also downgraded the corporate rating to CC, from CCC. Moody’s affirmed the corporate rating at Caa2. Outlooks are negative and positive, respectively.
On leverageloan dot com
August 16, 2016 at 4:41pm
Chesapeake Energy Upsizes Leveraged Loan by $500M, Tightens Interest Rate
Joint bookrunners Goldman Sachs, Citi, and MUFG have upsized Chesapeake Energy’s first-lien, last-out term loan to $1.5 billion, from $1 billion, and tightened pricing, according to market sources. Pricing was expected later today.
Price talk for the five-year loan is now L+750 with a 1% LIBOR floor, offered at par. Recall initial guidance including a spread range of L+750–775 and an OID of 99. The loan is non-callable for two years, with a first call at par plus 50% of the coupon, stepping to 25% and par.
Shorty is worried. Even the street can't help them.
Production won't increase until NG prices increase. Also oil prices have to go up to increase oil drilling to produce the secondary NG production from oil wells.
Shorty still manipulating it. Power plants had record July NG consumption. Production is down. Storage is down 6Bcf in the last report. First time for a summer draw down since 2006. Cold winter coming and a big jump in prices. Shorty can't stop it.
The growth of gas consumption in Georgia in the past two years may result in a shortage of natural gas. From 2012 to date the gas demand has increased by almost 38 percent. Compared to 2014, consumption of natural gas increased by 19 percent.
I misread. The nuclear plant generated 8.5% of what was consumed in California during 2015. Forbes questions renewables and efficiency data stated in law. Here's what Forbes said about that:
Thus, Diablo Canyon’s 18 billion kWhs per year, the largest and lowest-carbon electricity generation in California, will be replaced by less than 2 billion kWhs per year of similarly-low-carbon renewables, less than 2 billion kWhs per year from efficiency, and over 10 billion kWhs per year from high-carbon natural gas and costly out-of-state purchases, which California hopes to get from our hydroelectric dams up here in the Pacific Northwest (good luck with that!).
Yes, good luck with that. We are dismantling dams in favor of salmon breeding grounds.
You have to have some sort of storage for solar and wind. Generation amounts are always uncertain. So you need overcapacity for both generation and storage. California has one nuclear power plant left. It will go offline by 2020. It generates up to 25% of their needs. Law requires them to replace with renewable energy. I feel for them. They are going to have a hard time paying for that generation and storage. Will they be ready by 2020? I doubt it.
The firm has been investing in energy equity and debt for many years and has raised a bunch of capital for energy in the past couple of years. It had been very slow to deploy the money but has recently started to put money to work in the sector.
CFO Michael Chee said on the (recent earnings) call, "In the energy space, in particular, as we've discussed for several quarters, although we have raised a lot of capital, we chose to keep our powder dry over the last year and wait for the right moment. That patience paid off and this quarter we started to really see the opportunity set ripening and have recently committed or deployed about $1.5 billion of equity in several investments and have a strong pipeline. "