-Senate Democrats on Tuesday elected Mary Landrieu (D-La.) to chair the Energy and Natural Resources Committee. She will be the first Louisiana lawmaker to helm the committee since her Senate predecessor J. Bennett Johnston did so nearly two decades ago. Landrieu is generally seen as more supportive of the oil and gas industry than many of her party peers, as she favors increased domestic production and expanded infrastructure. The three-term senator faces reelection this November.
-Meanwhile, the Dow Chemical Co. issued a statement echoing its previous calls for the Department of Energy to hold off on approving LNG exports to non-free-trade-agreement countries. It was announced earlier today that the DOE had approved a sixth LNG export license to Sempra Energy for its Cameron LNG project, as was widely expected. Dow said halting LNG export licenses would put the “consumer before the oil and gas industry.”
-Investor Carl Icahn may be seeking a cash bid for Chesapeake Energy, according to a report by law firm Benesch Friedlander Coplan & Arnoff. The report notes that Icahn, who owns a 10% stake in Chesapeake, has worked with CEO Doug Lawler to cut 1,200 jobs. Rumored prospective buyers include ExxonMobil, BP and Royal Dutch Shell. Chesapeake has struggled in recent years, due in part to plummeting natural gas prices.
-Oilfield services firm Newpark Resources agreed to sell its environmental services unit to private equity-backed ECOSERV for $100 million. Newpark CEO Paul Howes said in a statement his firm would focus more on its drilling fluids and mats business going forward. The sale is expected to close in the first quarter of 2014.
-BP said it would boost capital spending in Alaska this year from nearly $900 million to $1.2 billion. BP Alaska President Janet Weiss said recent changes to the state’s tax code have made it more competitive. The company will reinvest 90 cents of every dollar it makes in Alaska back into the state, she said.
