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Energy News: Chesapeake (NYSE:CHK) Exec Buys Millions in Open Market Stock


Plus, BP's political goals in Russia are hindered as it struggles to discover who's in charge.

This column highlights the most interesting and useful business and financial commentary on energy from around the Web.

Link: Chesapeake Executive Buys $1.5 Million in Open Market Stock
"According to Peter Lynch, a well known money manager, executives of a company may sell their stock for any reason they choose. However, most of them only buy their company's stock for one reason – They believe the price is going to increase.

"Chesapeake Energy Corporation (NYSE:CHK) has seen a 46% increase in stock price, since its low water mark in May of this year. However, one of the directors of the company purchased $1.5 million worth of shares during the last week. What makes this purchase stand out, is the fact that shares purchased were not option grants, but actual open market purchases. This means they were bought in the same way that any outside investor would purchase shares in the oil and gas giant."

Link: Exxon Makes Another Forward-Looking Move
"Well, Exxon (NYSE:XOM) hasn't stopped dealing, and the latest couldn't have come at a better time. With the price of natural gas and natural gas liquids - like propane and ethane - continuing to fall, Exxon has gone for the shale oil gusto. The latest blockbuster purchase nearly doubles the size of its acreage in the oil-rich Bakken shale and improves its overall energy mix. With the glut of natural gas and NGLs not subsiding anytime soon, Exxon has positioned itself to take advantage of any energy pricing scenario ahead."

Link: BP's Political Risk Problem In Russia: Who Is In Charge?
"Wanted: A political risk analyst / intermediary that can read Russian politics
"Salary: Name your price
"Bonus: Saving BP (NYSE:BP); endless cocktail parties in St. James's Square.
"Application deadline: ASAP
"That's exactly what BP needed in the summer of 2011 when its first attempt to ditch TNK-BP and hook up with Rosneft failed. Truth be told, BP got unlucky. Insider accounts suggest that arrangements being made inside and outside Russia were very advanced, but BP fell at the final and most fundamental hurdle: they assumed that Vladimir Putin and Igor Sechin ruled supreme over the Russian energy sector. They didn't…"

The New York Times
Link: BMW, Hedging Bets on Electric, Stresses Fuel Efficiency
"The big fashion trend in Paris next week may be retro: internal combustion.

"Actually, with the engineering departments of the big automakers that will gather at the Paris Motor Show next week, gasoline and diesel engines never went out of style. It only seemed that way, given all the car show hoopla in recent years about electric vehicles."

Link: Obama Admin Offers GOM Acreage in March Sale
"As part of President Obama's all-of-the-above energy strategy to expand safe and responsible domestic energy production, Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau Monday announced that BOEM will offer 38 million acres in the Central Gulf of Mexico for oil and gas exploration and development. This sale will build on two major Gulf of Mexico lease sales in the last year – a 21 million acre sale held last December and a 39 million acre sale held in June – and supports the Administration's goal of continuing to increase domestic oil and gas production which has grown each year the President has been in office, with domestic oil production in 2011 higher than any time in eight years."
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