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Oct 8, 2013

Chesapeake slashes 10 percent of jobs as CEO cuts largesse

HOUSTON (Reuters) – Chesapeake Energy Corp has slashed its workforce by 1,200 jobs this year, the country’s second-largest natural gas producer said on Tuesday, and the cutting has accelerated under new chief executive Doug Lawler.

Lawler became CEO in June, promising to relentlessly control costs to lift the company’s profits after the ouster in April of the company’s free-spending co-founder, Aubrey McClendon.

Sep 27, 2013

In big shift, Exxon to provide same-sex marriage benefits

HOUSTON (Reuters) – Exxon Mobil Corp said on Friday it will extend benefits to spouses of workers and retirees in same-sex marriages in the United States, a sweeping and symbolic change by a corporate titan following a landmark Supreme Court ruling in June.

Though dozens of U.S. corporations, especially progressive ones like Apple Inc, have offered domestic partner benefits to gay couples for years, the step at Exxon, the world’s largest publicly traded oil company, was heralded by gay rights groups as especially significant.

Sep 24, 2013

Gulfport Energy ex-chairman received millions in free equity

Sept 24 (Reuters) – Gulfport Energy Corp, a
publicly traded oil and gas company based in Oklahoma City,
allowed its former chairman to receive millions of dollars in
equity interests at no cost in more than a dozen companies that
have done business with Gulfport.

The equity stakes awarded to Mike Liddell, who stepped down
as Gulfport chairman in June, were granted by Wexford Capital LP
as part of an uncommon arrangement. While working for Gulfport,
Liddell also served as an adviser for energy investments by
Wexford, a $4.3 billion Connecticut investment firm.

Sep 24, 2013

Exclusive: Gulfport Energy ex-chairman received millions in free equity

By Brian Grow and Anna Driver

(Reuters) – Gulfport Energy Corp (GPOR.O: Quote, Profile, Research, Stock Buzz), a publicly-traded oil and gas company based in Oklahoma City, allowed its former chairman to receive millions of dollars in equity interests at no cost in more than a dozen firms that have done business with Gulfport.

The equity stakes awarded to Mike Liddell, who stepped down as Gulfport chairman in June, were granted by Wexford Capital LP as part of an uncommon arrangement. While working for Gulfport, Liddell also served as an advisor for energy investments by Wexford, a $4.3 billion Connecticut investment firm.

Sep 18, 2013

Kinder Morgan chairman denies skimping on maintenance

By Anna Driver

(Reuters) – Kinder Morgan’s billionaire chairman on Wednesday denied the U.S. pipeline company skimps on maintenance spending, hitting back at allegations by a young analyst that have rattled the company’s shares.

The analyst, Kevin Kaiser, 26, of research firm Hedgeye Risk Management, published a 45-page report on September 10 alleging, among other things, that Kinder Morgan has cut maintenance work to boost cash distributed to investors in its partnerships.

Sep 10, 2013

Upstart analyst says Kinder ‘starves’ assets for investors

HOUSTON (Reuters) – An analyst who has drawn criticism from Wall Street for making incendiary comments about Kinder Morgan claimed on Tuesday the U.S. pipeline company has cut maintenance work to boost cash distributed to investors in its partnerships.

In a 45-page note to clients, Kevin Kaiser, a 26-year-old analyst with independent research firm Hedgeye Risk Management, cited several examples in which he said the Houston company had reduced maintenance spending. A copy of the note was seen by Reuters.

Sep 9, 2013

Young analyst draws Wall Street ire taking on Kinder Morgan

HOUSTON (Reuters) – Kevin Kaiser, a 26-year-old analyst only three years into his first job out of the Ivy League, jolted Wall Street last week with a pithy email taking aim at North America’s largest oil and gas pipeline and processing company – Kinder Morgan.

The email, sent to clients of independent research firm Hedgeye Risk Management, said Kinder Morgan and its associated companies “is a house of cards, completely misunderstood and mispriced.”

Aug 25, 2013

In bustling Houston, it’s a case of ‘Build, baby, build!’

HOUSTON/NEW YORK, Aug 25 (Reuters) – With Texas one of the
few bright spots in the U.S. economy, the skyline of swaggering
Houston is where the action is as builders and global oil
companies, from Phillips 66 to Exxon Mobil Corp,
look past previous busts and spend billions on gleaming new
buildings.

The U.S. shale oil and gas revolution – which has already
changed industries from railroads to pipelines and refineries -
is helping drive the voracious appetite for office space needed
for the expanding workforce in the world’s energy capital.

Aug 9, 2013

Chesapeake sheds more assets in turnaround bid

HOUSTON, Aug 9 (Reuters) – Chesapeake Energy Corp
has sold its stakes in trucking and natural gas companies and is
trying to shed real estate in Oklahoma City, the company told
regulators this week, as its new chief executive attempts to
turn it around.

The second-largest U.S. natural gas producer has slashed
spending and pledged capital discipline following last year’s
liquidity crunch, brought on by years of heavy spending on
acreage in U.S. shale formations and low natural gas prices.

Aug 1, 2013

Costs hit Big Oil; shale surge lifts smaller producers

LONDON/HOUSTON (Reuters) – Some of the western world’s top oil companies abandoned output targets and missed profit forecasts on Thursday as they promised to clamp down on rising costs that hurt quarterly results.

Costs for workers and materials are climbing as the industry scrambles to bring new wells and pipelines into operation.

    • 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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