On Thursday, Shares of Chesapeake Energy Corporation (NYSE:CHK), lost -1.97% to $8.97, as Crude futures settled down on Thursday, pressured by a rally in the dollar which countered bullish sentiment from a drawdown in U.S. stockpiles that was much steeper than predictable.
Brent LCOc1 settled down 7 cents, or 0.1 percent, at $53.31 a barrel.
U.S. crude CLc1 closed lower by 27 cents, or 0.6 percent, at $48.52. Reuters Reports
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas.
Shares of Marathon Oil Corporation (NYSE:MRO), inclined 0.46% to $21.86, during its last trading session.
Marathon Oil Corporation declared that the Company’s board of directors has declared a quarterly dividend of 21 cents per share on the Company’s common stock. The dividend is payable on Sept. 10, 2015, to stockholders of record on Aug. 19, 2015.
Marathon Oil Corporation operates as an energy company. It operates in three segments: North America Exploration and Production, International Exploration and Production, and Oil Sands Mining. The North America Exploration and Production segment explores for, produces, and markets crude oil and condensate, natural gas liquids, and natural gas in North America.
Finally, Energy Transfer Equity, L.P. (NYSE:ETE), ended its last trade with -2.12% loss, and closed at $30.
Phillips 66 (PSX), Energy Transfer Partners, L.P. (ETP) and Sunoco Logistics Partners L.P. (SXL) declared that they have formed a joint venture to construct the Bayou Bridge pipeline that will deliver crude oil from the Phillips 66 and Sunoco Logistics terminals in Nederland, Texas, to Lake Charles, Louisiana. The joint venture will also launch an expansion open season for service to the market hub in St. James, Louisiana. Phillips 66 holds a 40 percent interest in the joint venture and Energy Transfer and Sunoco Logistics each hold a 30 percent interest. Sunoco Logistics will be the operator of the system.
“Energy Transfer is excited to be part of the Bayou Bridge pipeline with our two joint venture partners,” said Lee Hanse, executive vice president of Energy Transfer Partners. “This project is the logical next step in our development of logistical infrastructure to move crude oil to market centers across the U.S., and we believe that it will be a critical conduit for our shippers to transport multiple grades of crude oil to the major refining market in Louisiana.”
Energy Transfer Equity, L.P., through its auxiliaries, provides diversified energy-related services in the Unites States. It owns and operates about 7,700 miles of natural gas transportation pipelines and 3 natural gas storage facilities located in the state of Texas; and about 12,800 miles of interstate natural gas pipeline.
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