Chesapeake settles with affiliate, but will pursue case that accuses its former CEO of misappropriating “highly sensitive trade secrets from the company” about the Utica Shale and other areas.
McClendon returns to raise money and Synergy Resources is looking for deals in the Wattenberg. But the bottom line is that shale transactions suffered their weakest quarter since 2009.
After Shell’s $70 billion deal, ExxonMobil and Chevron are in the hunt with several large U.S. E&Ps. But in the Permian Basin, the bid-ask spread remains too wide for deals.
The company, based in St. Marys, W.Va., and its joint venture partner will continue to own a combined 27,800 net acres in Marshall and Marion counties.
Experts are divided on whether Shell’s transaction will jumpstart abysmal U.S. E&P deal flow or lack the punch to knock companies out of their uncomfortable zone.
Shell, already one of the world’s largest oil and gas companies, would strengthen its LNG portfolio and gain access to premier offshore Brazil deepwater oil in a mega-merger.