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Apr 11, 2014

Small companies cautiously optimistic on natural gas drilling

HOUSTON, April 11 (Reuters) – The winter rally in natural
gas prices is creating cautious optimism among companies like
Matador Resources Co and Swift Energy Co,
smaller energy producers that see opportunity and future deals
in a once-moribund market.

Consumers pulled a record amount of gas from storage this
freezing winter, leaving stockpiles at the lowest level since
2003. This has spurred expectations for higher prices.

Apr 8, 2014

IRS puts damper on newer types of energy partnerships

WASHINGTON/NEW YORK, April 8 (Reuters) – The Internal
Revenue Service has temporarily stopped issuing private letter
rulings (PLRs) that energy companies sometimes request when
setting up master limited partnerships for their tax benefits.

Lawyers specializing in the oil and gas sector have said the
IRS wants to review the scope of assets that can qualify as
tax-free for master limited partnerships (MLPs), which have
lured hundreds of billions of dollars from investors seeking
high yields.

Apr 8, 2014

IRS says temporarily halts issuing letters for MLPs

WASHINGTON/NEW YORK (Reuters) – The Internal Revenue Service has temporarily stopped issuing private letter rulings that energy companies sometimes request when setting up master limited partnerships (MLPs) for their tax benefits.

Lawyers specializing in the oil and gas sector have said the IRS wants to review the scope of assets that can qualify as tax-free for MLPs, which have lured billions from investors seeking higher yields.

Apr 7, 2014

SandRidge MLP tax request snared by IRS ‘pause’

NEW YORK (Reuters) – SandRidge Energy Inc’s (SD.N: Quote, Profile, Research, Stock Buzz) letter asking the Internal Revenue Service whether its water disposal business would qualify as tax-free for inclusion in a master limited partnership (MLP) has been caught up in the agency’s pause of such reviews.

“That process has started and there was the pause,” Duane Grubert, SandRidge’s head of investor relations, said at the OGIS energy conference in New York on Monday.

Apr 6, 2014

Investor risk rises as energy partnership world gets crowded

HOUSTON/NEW YORK (Reuters) – High-yielding energy partnerships have lured billions in capital from investors in the past few years and the returns have often matched or beaten expectations.

But as riskier kinds of businesses adopt the Master Limited Partnership (MLP) structure, and as interest rates rise, investors are getting a wake-up call about some of the scary stuff lurking in the sector.

Feb 26, 2014

Apache spending bulk of 2014 budget on North America wells

HOUSTON, Feb 26 (Reuters) – Apache Corp said on
Wednesday it will spend two-thirds of its exploration and
production budget drilling more oil wells onshore in North
America as it aims to improve returns and show steady production
growth.

Inconsistent oil and gas output and exposure to political
risk in Egypt has weighed on the company’s shares and depressed
the Houston company’s valuation.

Feb 26, 2014

Exclusive: Encana, Chesapeake near settlements on Michigan collusion probe

NEW YORK/HOUSTON (Reuters) – Encana Corp (ECA.N: Quote, Profile, Research, Stock Buzz) and Chesapeake Energy Corp (CHK.N: Quote, Profile, Research, Stock Buzz) are negotiating civil settlements with the state of Michigan to try to end its criminal investigation into whether the energy companies colluded to keep oil and gas lease prices artificially low in the state.

Encana is hopeful that a settlement will be finalized within a few weeks, said Gregory Curtner, a lawyer representing Encana in a separate civil antitrust lawsuit, during a February 14 court hearing.

Feb 26, 2014

Encana, Chesapeake near settlements on Michigan collusion probe

NEW YORK/HOUSTON, Feb 26 (Reuters) – Encana Corp and
Chesapeake Energy Corp are negotiating civil settlements
with the state of Michigan to try to end its criminal
investigation into whether the energy companies colluded to keep
oil and gas lease prices artificially low in the state.

Encana is hopeful that a settlement will be finalized within
a few weeks, said Gregory Curtner, a lawyer representing Encana
in a separate civil antitrust lawsuit, during a Feb. 14 court
hearing.

Feb 25, 2014

Chesapeake’s ex-CEO McClendon tries to force new drilling

HOUSTON, Feb 25, (Reuters) – Chesapeake Energy Corp ousted
its former chief executive Aubrey McClendon last April after a
governance scandal and a liquidity crisis. But the former boss
retains financial ties to the second-largest U.S. natural gas
company, and he is using them to try to change company plans.

A firm run by McClendon is attempting to force Chesapeake
to drill 12 multi-million dollar wells in Louisiana’s
Haynesville Shale at a time when Chesapeake is trying to rein in
spending and cut debt to focus on other shales, according to a
lawyer for Chesapeake.

Feb 19, 2014

Devon sells some gas assets as oil focus pays off

Feb 19 (Reuters) – Devon Energy Corp said on
Wednesday that it would sell some liquids-rich natural gas
assets in Canada to Canadian Natural Resources Ltd for
about $2.8 billion and posted a better-than-expected profit as
it produced more profitable crude oil.

Devon shares were up 3 pct while Canadian Natural’s shares
traded in Toronto rose 4.6 percent.

    • About Anna

      "I currently cover large U.S. oil and gas companies including Exxon Mobil and ConocoPhillips as part of the equities desk's Raw Materials Team. I am based in Houston, Texas."
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