As fuel demands are on the rise worldwide, the need for sources other than petroleum is becoming more important than ever.
Articles Tagged "NYSE:EOG"
Natural gas investors applauded a move by energy giant Chevron to buy a stake in, and operate, a proposed liquid natural gas project on Canada’s British Columbia coast.
The Globe and Mail reported that Chevron Corp. (NYSE:CVX) has agreed to take 50-percent ownership of Kitimat LNG by buying the minority positions held by Encana Corp. (TSX:ECA,NYSE:ECA) and EOG Resources Inc. (NYSE:EOG). The move places Chevron at the helm of the project and brings it closer to becoming a reality.
Understanding the strategy of companies involved in shale projects is fundamental for investors in order to determine their own investing strategy.
Industry players closely monitoring lawmaker’s debate over new production tax on operators in largest US natural gas field.
Legislation set to be tabled in the US Congress this week should provide a boost to the natural gas industry if it passes as expected.
The recent deal represents the biggest investment to date by a Chinese company in the North American energy sector, appearing to balance demand to develop gas fields at a time when low commodity prices are not providing companies with enough cash flow efficiently. The agreement could underscore greater exposure for resource companies to eventually export shipments to offshore markets.
Kitimat LNG partners Apache Canada Ltd. (NYSE:APA) and EOG Resources Canada Inc. (NYSE:EOG) agrees to purchase the 50 percent interest in the Pacific Trail Pipelines Limited Partnership (PTPLP) for $50 million.
In 1951 a significant oil discovery was made on the Bakken Formation, which is a very old geological deposit occupying about 520,000 square km of the subsurface of the Williston Basin, covering parts of Montana, North Dakota, and Saskatchewan. An April 2008 USGS report estimated the amount of technically recoverable oil within the Bakken Formation at 3.0 to 4.3 billion barrels.