•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    France's Total to develop shale play in Denmark

    Total SA plans exploratory drilling in Denmark later this year in efforts to develop shale plays outside the US, CEO Christophe de Margerie said in an interview published in France’s Le Monde newspaper.

    De Margerie told Le Monde that Total is also investing in Poland and China. Previously, Total indicated plans to slow its investments in US shale gas plays.

    In January 2010, Oklahoma City-based Chesapeake Energy Corp. announced a $2.25 billion joint venture agreement with Total E&P USA Inc. in which Total acquired a 25% interest in Chesapeake’s upstream Barnett shale assets.

    In January 2012, Total E&P USA signed a joint venture agreement with Chesapeake and affiliates of EnterVest Ltd. in which Total acquired a stake in the Utica shale in Ohio. Terms called for Total to obtain 25% interest in Utica assets for $700 million.

    De Margerie and Total had planned on $6/Mcf Henry Hub prices compared with current prices of $3.20/Mcf, RBC Capital Markets analyst Peter Hutton wrote in a Jan. 10 research note.

    “BG has already taken a write-down on some US gas assets…and this confirmation may signal a similar action by Total,” Hutton said. RBC’s long-term Henry Hub forecast is $5/Mcf.

    Encana Corp. and BG Group each separately reported non-cash write-downs in the value of their US shale assets during presentations on 2012 second-quarter financial results.

    Related Articles

    Rice Energy acquires Marcellus acreage from Chesapeake for $336M

    07/07/2014 Rice Energy Inc. has signed a definitive purchase and sale agreement to acquire approximately 22,000 net acres and 12 developed Marcellus wells in western Greene County, Pennsylvania, from Chesapea...

    Rose Rock closes assets acquisition from Chesapeake

    06/24/2014

    Rose Rock Midstream LP has closed its transaction to acquire crude oil trucking assets from a subsidiary of Chesapeake Energy Corp.

    Seventy Seven Energy names COO

    06/13/2014 Chesapeake Oilfield Operating LLC (now doing business as Seventy Seven Energy) has appointed Karl Blanchard as COO, effective on the distribution date of the recently announced spin-off of Seventy ...

    Chesapeake updates on 2014 asset sales

    05/16/2014

    Chesapeake Energy Corp. has agreed to sell noncore producing assets in Southwestern Oklahoma, East Texas, and South Texas.

    More Oil & Gas Financial Articles

    Chesapeake, RKI swap Powder River Basin assets

    Tue, Jul 29, 2014

    Rice Energy acquires Marcellus acreage from Chesapeake for $336M

    Mon, Jul 7, 2014

    Rice Energy Inc. has signed a definitive purchase and sale agreement to acquire approximately 22,000 net acres and 12 developed Marcellus wells in western Greene County, Pennsylvania, from Chesapeake Appalachia, LLC and its partners for approximately $336 million.

    Rose Rock closes assets acquisition from Chesapeake

    Tue, Jun 24, 2014

    Rose Rock Midstream LP has closed its transaction to acquire crude oil trucking assets from a subsidiary of Chesapeake Energy Corp.

    Seventy Seven Energy names COO

    Fri, Jun 13, 2014

    Chesapeake Oilfield Operating LLC (now doing business as Seventy Seven Energy) has appointed Karl Blanchard as COO, effective on the distribution date of the recently announced spin-off of Seventy Seven Energy from Chesapeake Energy Corp.

    Chesapeake updates on 2014 asset sales

    Fri, May 16, 2014

    Chesapeake Energy Corp. has agreed to sell noncore producing assets in Southwestern Oklahoma, East Texas, and South Texas.

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ