Energy Updates: Exxon Mobil Corporation (XOM) on Nuclear Capacity, Chesapeake Energy Corporation (CHK)’s Financial Discipline, SandRidge Energy Inc. (SD)’s Capitalization

Editor’s Note: Exxon Mobil Corporation (NYSE:XOM), Chesapeake Energy Corporation (NYSE:CHK), SandRidge Energy Inc. (NYSE:SD), Linn Energy LLC (NASDAQ:LINE), SandRidge Permian Trust (NYSE:PER), SandRidge Mississippian Trust II (NYSE:SDR)

Double nuclear by 2040 says Exxon (World Nuclear News)
Exxon Mobil Corporation (NYSE:XOM)’s 2013 Outlook for Energy bases its findings on data from 100 countries across the globe, looking at 15 demand centres and 20 fuel types. It also takes into consideration the technology and policy issues underpinning the world’s energy situation, Exxon Mobil technology advisor David Khemakhem explained to delegates at the World Nuclear Association’s Annual Symposium. Latest figures indicate that, with world population anticipated to be close to 9 billion by 2040, energy demand will continue to increase. Electricity demand will drive that growth. Exxon Mobil Corporation (NYSE:XOM)’s figures suggest that world nuclear capacity could be set to double to help meet that demand, as the cheapest form of low-CO2 electricity generation: other options such as onshore wind and solar photovoltaics have significant knock-on grid costs, Khemakhem remarked.

Rex W. Tillerson with gas pump

Chesapeake Energy shifting from aggression to financial discipline (FuelFix)
After years of building a reputation as one of the most aggressive U.S. natural gas giants, Chesapeake Energy Corporation (NYSE:CHK) is slowing down. The new leadership of the Oklahoma oil and gas company is bent on reining in spending and shaving costs. Chesapeake’s new CEO Doug Lawler, speaking in New York this week, described a material shift in the company’s operational strategy. “Opportunities that we have going forward are based on how we drive the greatest value for our shareholders, not how we can expand or grow our land position,” Lawler, who was tapped by Chesapeake Energy Corporation (NYSE:CHK) in May, said Wednesday during an investor conference hosted by Barclays. “We’re going to be return-centric in everything that we do in all aspects of our business.”

SandRidge Energy sells $30M in trust shares to help capitalize Mississippian drilling (Wichita Business Journal)
SandRidge Energy Inc. (NYSE:SD) is selling its shares in two of its trusts and using the money to further capitalize its expansive operations on the Mississippian Lime play. The Oklahoma City oil and gas company sold 1 million shares each in its SandRidge Permian Trust (NYSE:PER) and SandRidge Mississippian Trust II (NYSE:SDR), a sale valued at nearly $30 million, according to a report in The Oklahoman. It was the fourth time SandRidge has sold shares of those trusts since their initial public offering. SandRidge Energy Inc. (NYSE:SD) CEO James Bennett told The Oklahoman that the sale is routine and in line with the company’s plans for the trusts.

Linn Energy pays $525 million for Permian properties (Midland Reporter-Telegram)
Linn Energy LLC (NASDAQ:LINE) is buying assets in the Permian Basin for $525 million, a deal meant to expand the proportion of oil production in the Houston company’s portfolio. The West Texas properties cover 6,250 net acres, containing 124 online oil and natural gas wells that are expected to pump about 4,800 barrels of oil equivalent per day primarily from the Clearfork over the next 12 months. Oil makes up 63 percent of the land’s daily production. Linn said the deal includes about 300 identified future low-risk, infill drilling locations. The deal is expected to bolster Linn Energy LLC (NASDAQ:LINE)’s operations throughout the Permian Basin, where it produced 84 million cubic feet of gas equivalent per day in the second quarter of 2013.

Exxon facing criminal charge for wastewater spill (Legalbrief)
Pennsylvania Attorney-General Kathleen Kane filed criminal charges this week against XTO Energy, an Exxon Mobil Corporation (NYSE:XOM) subsidiary based in Fort Worth, Texas, related to a spill of more than 189 270 litres of chemical-laced wastewater in 2010. A Jurist report notes that having already been fined $100 000 by the Environmental Protection Agency (EPA) and the Department of Justice (DOJ) in July, XTO claims that the polluting of a Susquehanna River tributary, located near the company’s water recycling plant in Lycoming County, Pennsylvania, was an accident.

Layoffs at Chesapeake Energy rattle employees (CNBC.com)
Chesapeake Energy Corporation (NYSE:CHK) has been laying off employees as it moves ahead with a company-wide reorganization. “The senior leadership team and I are actively working to align our organizational structure with Chesapeake’s new strategies of financial discipline and profitable and efficient growth from captured resources,” chief executive Doug Lawler wrote Tuesday in an email to employees that CNBC.com obtained. The Oklahoma City television station K-FOR-TV reports that sources say as many as 2,000 jobs may be cut. Chesapeake Energy Corporation (NYSE:CHK) has about 12,000 employees.

Recommended Reading:

Chevron Corporation (CVX), EOG Resources Inc (EOG): Is Exxon Mobil Corporation (XOM)’s Reputation at Risk?

Chesapeake Energy Corporation (CHK), Devon Energy Corp (DVN), Southwestern Energy Company (SWN): Fracking in America

SandRidge Energy Inc. (SD), Chesapeake Energy Corporation (CHK): A Disappointing Quarter Leads to Buying Opportunities

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!