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Chesapeake Energy and Total closed the previously announced Utica Shale joint venture on January 2, 2012. The deal was announced at the beginning of November without disclosing the partner, but Total was likely as the company already partners with Chesapeake in the Barnett Shale. The Chesapeake – Total Utica Shale joint venture covers acreage in […]

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Shale Play Land Deal Prices Hit New Highs in 2011

by Kenneth E. DuBose on January 2, 2012

The price to play the shale play game increased at a brisk pace in 2011. Prices in the Eagle Ford Shale and Utica Shale  went to levels not seen before 2011. Typical Eagle Ford Shale deals were hopping along at a few thousand dollars per acre until Chesapeake and CNOOC reached a JV agreement in the […]

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Chesapeake Utica Shale JV Fetches $15,000 per Acre

by Kenneth E. DuBose on November 4, 2011

Chesapeake Energy announced its long awaited Utica Shale joint venture (JV) Nov. 3. We’ll have to wait a little longer to find out who the partner is. We simply know it is an international company. Exxon already has a position in the play and would be a likely candidate, but they don’t have a history […]

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Hess Acquires Marquette Exploration’s Ohio Utica Shale Acreage

by Kenneth E. DuBose on September 15, 2011

Hess announced the acquisition of 85,000 net acres in Ohio’s Utica Shale from Marquette Exploration for $750 million. For those keeping track, that’s over $8,800 per acre in counties that border Pennsylvania in east-central Ohio. This announcement is on the heals of a joint-venture with Consol Energy that gave the company 100,000 net acres for […]

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Consol Energy’ acquisition of Dominion Resources’ Appalachian business for $3.5 billion in 2010 is proving to be a real boon for the company. Consol first announced a $3.5 billion JV with Noble Energy in the Marcellus Shale and more recently announced a $593 million JV with Hess in the Utica Shale. The company has not released […]

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Hess – CONSOL Energy Enter Utica Shale JV

by Kenneth E. DuBose on September 7, 2011

Hess and Consol Energy have entered a joint venture (JV) in the Utica Shale of eastern Ohio in a deal worth $593 million. Hess will pay Consol $59 million upfront and then carry drilling costs up to $534 million over the next five years for a 50% interest in almost 200,000 acres in East Ohio. […]

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Encana Selling Barnett Shale Assets in North Texas

by Kenneth E. DuBose on August 25, 2011

Encana announced plans to sell Barnett Shale assets in North Texas as part of the company’s plans to sell $1-2 billion in assets this year. This comes on the back of low gas prices and lower oil prices than just a few months ago. Major independent producers continue to outspend cash flow and we expect […]

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Noble Energy – Consol Energy Marcellus Shale JV $3.5 B

by Kenneth E. DuBose on August 19, 2011

Noble Energy and Consol Energy have reached a $3.4 billion joint venture (JV) agreement where Noble will acquire a 50% interest in over 663,000 undeveloped acres in the Marcellus Shale. The position adds another long lived asset to Noble Energy’s core positions in Colorado’s Niobrara Shale and Israel’s offshore gas prospects. While spread over several […]

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Shale Gas & Oil Investment Drive Q2 2011 M&A

by Kenneth E. DuBose on August 15, 2011

Money is still poring into the shale plays: Ongoing interest in shale acreage, deals for midstream assets and increased investments from foreign buyers in the US oil and gas industry helped drive US oil and gas mergers and acquisitions (M&A) value to $39 billion in the second quarter of 2011, according to PwC US. In […]

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Summer NAPE Expo- Oil & Gas Deals Coming to Houston

by Kenneth E. DuBose on July 20, 2011

NAPE will be in Houston, TX, from August 17 through the 19th. The conference and EXPO has become a playground for oil & gas leasing and land deals.  If you want to know where the next hot shale play is going to be, the first peak will be at NAPE where every company from the […]

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