A Chevron gas station sign is pictured at one of their retain gas stations in Cardiff, California October 9, 2013. REUTERS/Mike Blake More
NEW YORK (Reuters) - Oil and gas major Chevron Corp
Heimsath A.M.,Arizona State University |
Burke B.C.,Noble Energy Inc.
Geomorphology | Year: 2013
Soil-mantled upland landscapes are widespread across the habitable world, support extensive life, and are the interface between the atmosphere, hydrosphere, and lithosphere but typically are not cultivated. Soil found across such landscapes fits the conceptual framework of a physically mobile layer derived from the underlying parent material along with some locally derived organic content. The extent and persistence of these upland soils depend on the long-term balance between soil production and erosion. Here we briefly review methods used to quantify the physical and chemical processes of soil production and erosion and revisit three granitic study areas in southeastern Australia and northern California that enabled early quantification of the soil production function and topographic controls on chemical weathering. We then present new major and trace element data from 2-m by 2-m pits dug at each field site to quantify local variability of Zr concentrations and the chemical index of alteration (CIA), weathering indices used to determine chemical weathering rates and extents in soils and saprolites. Using both new and previously published data, we compare differences between local variability and regional, as well as intersite variability of these important indices. For each of the 2-m pits, we collected 25 samples and found that the simple mean and the 2. σ standard deviation best describe the local variation in the data. We also find that the variability in the 2-m pit data lies within variability observed in the same data from samples collected in individual soil pits across each of the field sites and that the differences between sites are consistent with previously published results. These observations highlight the importance of quantifying local scale variability in studies that use similar, multifaceted measurements to quantify hillslope soil production and erosion processes. © 2013 Elsevier B.V. Source
News Article | October 30, 2015
MIDLAND, Texas—As a financial storm lashes the U.S. oil patch, energy companies are seeking shelter in the closest thing the industry has to a port: a sprawling expanse of West Texas known as the Permian Basin. In fact, as drillers pull back in oil fields across the U.S., they are pumping more crude than ever in the Permian, according to some federal data. And companies from giant Exxon Mobil Corp. on down have been vying to add to...
News Article | November 1, 2015
Israel's Prime Minister Benjamin Netanyahu attends the weekly cabinet meeting at his office in Jerusalem November 1, 2015. Economy Minister Aryeh Deri, who had opposed waiving normal antitrust laws to give rapid approval to a framework deal to develop the gas fields off Israel's Mediterranean coast, said he had offered his resignation. His decision allows Netanyahu to take the helm of the Economy Ministry and give final approval to a framework deal he reached in August with Texas-based Noble Energy (NBL.N) and Israel's Delek Group (DLEKG.TA). The outline plan leaves the partners in control of the country's largest gas field, Leviathan, while forcing them to sell smaller, yet sizable, assets. Deri could have deemed the agreement important enough for national security to exempt it from normal antitrust laws but refused to do so, saying it would set a dangerous precedent. Netanyahu said he had no problem making such a ruling. "Minister Deri informed me of his intent to resign from the Economy Ministry in order to allow for the completion of the proceedings. The ministry will revert to me and I will authorize the outline (agreement)," Netanyahu said in a statement. The plan was opposed by Israel's anti-monopoly regulator who argued it did not open the market to sufficient competition, and he later resigned in protest. The agreement became the focus of national debate. Critics said Netanyahu was giving Noble and Delek too much power over the country's gas reserves, while Netanyahu said it was more important to get the gas out of the ground quickly. While the debate raged, Noble and Delek froze investments and Leviathan remains undeveloped. A number of long-term, multi-billion-dollar export deals being negotiated with buyers in Egypt and Jordan were also put on hold. Various alternatives were considered for breaking the logjam. One option would have been for a parliamentary vote to transfer the power to bypass the antitrust authority from Deri to Netanyahu's entire cabinet, but Netanyahu, with just a single-seat majority, failed to muster enough support. The latest political maneuvering sees Deri shifting jobs to head a ministry in charge of developing and investing in communities in Israel's periphery. Once the gas agreement is approved, Noble and Delek have said they would funnel close to $10 billion into Israel to develop Leviathan and expand a second field, Tamar. They will also put shares in Tamar and two smaller fields up for sale. With news of the pending approval, Leader Capital Markets, one of Israel's top investment banks, said it was resuming stock coverage for energy and exploration companies. The outline will have "a positive impact" on the sector, said Leader analyst Yehonatan Shohat, and "paves the way for the signing of export deals and brings long-term regulatory certainty."
News Article | November 3, 2015
Shares in the U.S. generic drugmaker Mylan will begin trading on the Tel Aviv Stock Exchange Wednesday, the TASE said Monday. The move comes after Mylan last week won an Israeli court ruling rejecting Perrigo’s attempt to block Mylan from listing on TASE. Mylan is seeking to convince Israeli shareholders of Perrigo, which has traded on the TASE since 2005, to back its hostile bid for the company. With a combined 12% stake in Perrigo, Israeli investors are important target groups as Mylan and Perrigo make their case for accepting or rejecting Mylan’s $25 billion offer before a November 13 deadline. The TASE said Mylan’s opening price would be based on the company’s closing price on the Nasdaq Monday, multiplied by the Bank of Israel shekel-dollar rate for Tuesday. Mylan, whose $22.5 billion market cap will make it the second-biggest stock on the TASE, was trading at $45.37 late morning local time in New York. (TheMarker Staff) Insurance Commissioner Dorit Salinger has called on Migdal Insurance to rescind last week’s decision to pay a 200-million-shekel ($51.6 million) dividend. “Paying out a dividend at a time of a most significant shortfall, amounting to several billion shekels, could harm [Migdal’s] proper business management and its preparations for the new solvency regime,” she said, setting a deadline of Tuesday for Migdal to respond. The European Union Solvency II standard, which Israel has adopted, specifies the amount of capital insurers must hold to reduce the risk of insolvency and is set to go into effect in January. Analysts said Migdal is about 6 billion shekels short of the requirement, noting that the gap will be narrowed when it raises 2.5 billion shekels in the capital market. Shares of Migdal, which is controlled by insurance magnate Shlomo Eliahu, finished down 1.7% at 3.46 shekels. (Assa Sasson). Noble Energy posts wider-than-expected loss for the third quarter Noble Energy, the Texas company that is the operating partner in Israel’s Tamar and Leviathan gas fields, posted a quarterly net loss as a steep decline in oil prices sapped profitability. The company reported a net loss of $283 million, or 67 cents a share, in the third quarter, turning around from a profit of $419 million, or $1.12 per share, a year earlier. Adjusted loss was 21 cents, steeper than the average analyst estimate of 18 cents, according to Thomson Reuters I/B/E/S. Total revenue fell 37% to $801 million, lagging analysts’ estimate of $955.3 million. Noble raised its sales forecast for the current quarter, while cutting its 2015 capital budget by $100 million to $3 billion. The reduction comes as Israel moved forward on Sunday to break an antitrust logjam that had caused Noble and its partners to freeze development of Leviathan. Oil and gas producers are curtailing spending and cutting operating and other costs to weather a nearly 60% drop in crude oil prices since June last year. Noble shares were 3.6% at $37.14 late morning local time in New York. (Reuters) Tel Aviv shares ended higher, with drug and telecom stocks leading the gains. The benchmark TA-25 and the TA-100 indexes both ended about 0.2% higher at 1,577.82 and 1,365.72 points, respectively, on turnover of 1.37 billion shekels ($350 million). Energy shares surrendered early gains, but Teva Pharmaceuticals ended up 1.1% for the day at 233.40 shekels and Perrigo added 1.2% to 619, both reversing Sunday’s declines. Partner Communications added 4.2% to close at 18.78 and Cellcom Israel rose 4% to 30.69 on heightened prospects for a mobile industry consolidation. Tech company Ceragon plunged 16% to end at 1.74 shekels after missing analysts’ estimates for third-quarter profits Monday. In the fixed-income market, the government’s 10-year bond fell 0.39% to raise its yield to 2.09%. The inflation-indexed 30-year bond declined 1.2% to a yield of 1.49%. (Shelly Appelberg)