Otsikkoa

FP: Korea buys Harvest Energy for $4.1-billion

"...KNOC is paying $26.58 for each barrel of proved reserves, based on the $4.1=billion price tag and Harvest's 154.26 million barrels of oil-equivalent reserves as of Dec. 31, 2008..."

Trust-malli on poistumassa energia-sektorilta lähes täydellisesti. Trustien omistajista merkittävä osa on kanadalaisia ja amerikkalaisia eläkeläisiä, joilla ei ole kiinnostusta omistaa kasvua tavoittelevaa nimellistä osinkoa maksavaa yhtiötä. He ovat sijoittaneet trusteihin nimenomaan yieldin takia, joten heille koko pytingin myynti on mieluisampi vaihtoehto kuin konvertio "kasvuyhtiöksi". Näitä nähdään siis varmaan useita seuraavien parin vuoden aikana, eikä pelkästään upstream-trustien joukossa.

Reuters: Pickens says U.S. firms 'entitled' to Iraqi oil

"Oil tycoon T. Boone Pickens told Congress on Wednesday that U.S. energy companies are "entitled" to some of Iraq's crude because of the large number of American troops that lost their lives fighting in the country and the U.S. taxpayer money spent in Iraq..."

Huh!

Upstream: Opec hints at output rise

CH: With new tech, Canada's oil reserves much larger than estimated: Penn West

CH: Oil, gas well drilling hits "bottom," Precision Trust says

Bloomberg: Gazprom May Make U.S. Acquisition to Gain Shale-Gas Expertise

News

Petrobank CEO says unit spinoff likely

"Petrobank Energy and Resources Ltd. could distribute its 66.7 per cent stake in Latin American oil producer Petrominerales Ltd. within 18 months, the company’s chief executive said Thursday, and spin off its other businesses within four years.

Petrobank CEO John Wright said in an interview that Petrominerales, which produces oil in Colombia, is a likely candidate to be doled out to Petrobank’s investors soon, with two other business units — a Canadian conventional oil producer now bulking up through a merger, a Canadian heavy oil producer — able to stand on their own in about 48 months..."

Precision CEO sees return to balance in natural gas market

Natural gas supply and demand should start coming back into balance in North America by this winter as severe cuts in drilling lead to a drop in available volumes, the head of Canada’s largest contract driller by rig count said Thursday.

Major reductions in capital spending among energy companies in response to weak gas prices are prompting steep production declines in Canada and the United States, Precision Drilling Trust chief executive Kevin Neveu said.

“We think this aggressive decline rate in both Canadian and U.S. gas is catching up right now with the demand side,” Neveu said at an investor conference in Denver, Colo...

Canada's energy sector open for China: Flaherty

"Finance Minister Jim Flaherty rolled out the welcome mat for Chinese investment in the Canadian energy sector Monday, saying this country's foreign-investment rules pose little hindrance to the growth of a Chinese presence..."