Energy Business Review: Eni & Chevron INVEST in Liberia, Duke Controversy ROLLS ON

Eni S.p.A. (NYSE:E) makes investments in three offshore exploration blocks in Liberia, in line with its strategy of expansion in sub-saharan Africa. The joint venture is now comprised of Chevron Corporation (NYSE:CVX) with its 45 percent, while Oranto Petroleum holds 30 percent and Eni holds the remaining 25 percent.

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Boardwalk Pipeline Partners, LP (NYSE:BWP) shares move down on word of its plans to offer 10.5 million common shares, the proceeds of which the company says will be used to pay down debt and for other general corporate purposes.

Shares of Petroquest Energy, Inc. (NYSE:PQ) jumped Thursday, on the news of a “significant” offsetting discovery at its La Cantera Prospect in Louisiana. The company’s number 2 bore has reached a total depth of 19,150 feet and logged approximately 310 net feet of pay, and has produced about 3 billion cubic feet of gas and 170,000 barrels of liquids since being set on-line in March.

Duke Energy Corporation (NYSE:DUK) is in discussions with utility regulators in North Carolina and also the Attorney General, regarding the sacking of former Chief Executive Bill Johnson, following the corporation’s purchase of Progress Energy, according to the current Chief Executive Jim Rogers. Regulatory approval of the deal could theoretically be revoked and Johnson could be reinstalled as CEO, but observers think it unlikely.

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