Louisiana Light • 2 days | 85.15 | -1.06 | -1.23% | |||
Bonny Light • 1 day | 88.97 | +1.21 | +1.38% | |||
Opec Basket • 2 days | 84.98 | -0.94 | -1.09% | |||
Mars US • 147 days | 77.67 | -1.57 | -1.98% | |||
Gasoline • 18 hours | 2.721 | +0.049 | +1.82% |
Bonny Light • 1 day | 88.97 | +1.21 | +1.38% | |||
Girassol • 1 day | 88.90 | +1.44 | +1.65% | |||
Opec Basket • 2 days | 84.98 | -0.94 | -1.09% |
Peace Sour • 1 day | 74.10 | -0.27 | -0.36% | |||
Light Sour Blend • 1 day | 73.60 | -0.27 | -0.37% | |||
Syncrude Sweet Premium • 1 day | 82.35 | -0.27 | -0.33% | |||
Central Alberta • 1 day | 74.00 | -0.27 | -0.36% |
Eagle Ford • 2 days | 77.83 | -0.27 | -0.35% | |||
Oklahoma Sweet • 2 days | 78.00 | +0.00 | +0.00% | |||
Kansas Common • 2 days | 71.50 | -0.25 | -0.35% | |||
Buena Vista • 2 days | 84.55 | +3.95 | +4.90% |
Why would TotalEnergies be risking…
Nissan aims to cut EV…
Chesapeake Energy has been struggling with massive debts all year, and has just completed the latest of a string of asset sales intended to raise money to cover the debt.
The asset sale raised $6.9 billion dollars, of which $4 billion will be used to reduce the $14.33 billion debt to keep them afloat for the rest of the year, and buy them time to work out how they will survive in 2013.
They have sold most of their 1.5 million acres in the Permian Basin, located in the western part of Texas and southeastern New Mexico, to Royal Dutch Shell Plc and Chevron Corp.
Their Permian sale received a price of about $3,200 per acre, less than half of the $7,500 an acre average that the land was calling in other sales during 2011 and 2012, and far less than analysts had expected. Although they also sold nearly all of their remaining network of pipelines for far more than was expected.
Mark Hanson, an analyst at Morningstar, is discouraging about Chesapeakes position improving for the next year, saying that “they probably need to sell a not insignificant amount of assets in 2013 to plug” their funding gap.
By. Charles Kennedy of Oilprice.com
Russia Demands Oil Producers Slash Output for OPEC+
U.S. Northeast Gasoline Reserve Could Be Sold Off
World’s Top Oilfield Services Provider Not Leaving Russia
Ukraine Drone Attacks Knock Out 600,000 Bpd of Russian Refining Capacity
U.S. Crude Oil, Gasoline Inventories Continue to Drop
ADVERTISEMENT
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Merchant of Record: A Media Solutions trading as Oilprice.com