Of all the problems to face in the oil and gas business, this is the one you want.

Chevron has $21.5 billion in cash burning a hole in its pocket. The supermajor’s total debt load is just $10.2 billion. No other oil giant even comes close to this gearing. And why would they? As Deutsche Bank’s Big Oil analyst Paul Sankey says “We think it makes no sense whatsoever to be cash positive in this interest rate environment.” Read more »

A state proposal to make far-reaching amendments to oil and gas regulations governing Marcellus Shale gas development indicates stronger rules are needed to protect Pennsylvania's surface and groundwater resources.

But it's too early to tell if the more than 100 proposed changes in a 23-page draft "concept paper" from the state Department of Environmental Protection will eventually provide those protections, environmental groups say. Read more »

Oil prices rose Monday August 27, 2012 as Tropical Storm Isaac barreled across the Gulf of Mexico and toward the U.S. mainland, picking up strength and threatening oil and refining operations. An explosion at a refinery in Venezuela also pushed prices higher.

Benchmark crude for October delivery rose $1.03 in late afternoon Bangkok time to $97.18 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 12 cents to finish at $96.15 per barrel on the Nymex on Friday. Read more »

Summit Midstream Partners LP on Wednesday August 22, 2012 filed to raise up to $302 million in an initial public offering of common units for trading under the symbol SMLP on the New York Stock Exchange.

The Dallas-based partnership operates pipelines and infrastructure in the Barnett Shale of Texas and the Piceance Basin of Colorado. Customers include Encana Corp., Chesapeake Energy Corp, Exxon Mobil Corp.and others. Read more »