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Ohio Utica Shale

Centrica to buy Hess' energy marketing business

By Bob Downing Published: July 31, 2013

From Bloomberg News on Tuesday::

By Nidaa Bakhsh

Centrica Plc  agreed to buy Hess Corp..'s  Energy Marketing business for $731 million in cash as part of a plan to double profitability in North America within five years.

The transaction by Direct Energy Business, Centrica’s North American subsidiary, also includes net working capital of about $300 million, the Windsor, England-based company said today in a statement.

The company said in February its North American expansion drive would be achieved through small and large purchases. It teamed up with Qatar Petroleum to buy gas fields from Canada’s Suncor Energy Inc. in April and also signed a 20-year contract with Cheniere Energy Inc. to import the fuel from the U.S.

The deal “marks a significant step towards delivering on our strategy - substantially increasing the scale of our North American downstream business and integrating along the gas value chain,” Sam Laidlaw, Centrica’s chief executive officer, said in the statement.

Hess’s Energy Marketing business supplied 378 billion cubic feet of gas and 28 terawatt hours of electricity to more than 23,000 customers last year, according to the statement. The acquisition will make Direct Energy the largest business gas supplier on the east coast.

Centrica is scheduled to publish first-half results tomorrow.

Hess is a player in Ohio's Utica shale.




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Utica and Marcellus shale web sites

Ohio Department of Natural Resources' Division of Oil and Gas Resources Management State agency Web site.

ODNR Division of Oil and Gas Resources Management. State drilling permits. List is updated weekly.

ODNR Division of Geological Survey.

Ohio Environmental Protection Agency.

Ohio State University Extension.

Ohio Farm Bureau.

Ohio Oil and Gas Association, a Granville-based group that represents 1,500 Ohio energy-related companies.

Ohio Oil & Gas Energy Education Program.

Energy In Depth, a trade group.

Marcellus and Utica Shale Resource Center by Ohio law firm Bricker & Eckler.

Utica Shale, a compilation of Utica shale activities.

Landman Report Card, a site that looks at companies involved in gas and oil leases.FracFocus, a compilation of chemicals used in fracking individual wells as reported voluntarily by some drillers.

Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.

Rig Count Interactive Map by Baker Hughes, an energy services company.

Shale Sheet Fracking, a Youngstown Vindicator blog.

National Geographic's The Great Shale Rush.

The Ohio Environmental Council, a statewide eco-group based in Columbus.

Buckeye Forest Council.

Earthjustice, a national eco-group.

Stop Fracking Ohio.

People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.

Concerned Citizens of Medina County, a grass-roots group.

No Frack Ohio, a Columbus-based grass-roots group.

Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.

Penn State Marcellus Center.

Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.

Allegheny Front, environmental public radio for Western Pennsylvania.