China’s Natural Gas Demand Set to Triple by 2040

Original Source – OilPrice.com

China’s Natural Gas Demand Set to Triple by 2040

China’s demand for natural gas will more than triple over the next 25 years, according to a new report from the U.S. Energy Information Administration.

Natural gas demand in China is projected to hit 17.5 trillion cubic feet (tcf) in 2040, a greater than three-fold increase from the 5.2 tcf of demand in 2012. There is a big question mark over how the country will meet that need, but the EIA says the vast majority of it will come from two sources: domestic production and liquefied natural gas (LNG) imports.

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China is potentially sitting on 1,115 tcf of technically recoverable shale gas – the world’s largest reserves. While energy rich, China has had trouble developing its mammoth shale resources. The lack of fresh water is an enormous challenge. But so is a lack of infrastructure, dearth of pipelines, complex geology, and high costs. The problems have tempered China’s ambition, and the government recently downgraded its 2020 production target by half.

Overcoming these challenges will require the experience and technical skill of experienced players – veterans of the U.S. shale revolution. China decided to up the incentives to attract international investment. “Chinese oil companies are giving U.S. firms a bigger stake in exchange for the tools and technology of hydraulic fracturing,” according to Collin Eaton of The Houston Chronicle.

Joint ventures with American companies will allow China to access some of the tools that fueled rapid growth in the U.S. – pressure pumps, horizontal drilling, multiple wells per pad, and water-efficient equipment, for example. Halliburton and other oil services firms are taking advantage of China’s urgent need to ramp up natural gas production. Halliburton is working with STP, a Chinese company, to frack the Tarim Basin in northwest China.

The EIA predicts that China will be able to overcome many of these hurdles and produce 10.1 tcf of natural gas by 2040, or the equivalent of 58 percent of demand.

What is not met by domestic production will need to be imported. Although only a small fraction of demand at this point, China’s imports of LNG are set to skyrocket in the coming decades. Much of this will come from Australia, which will dominate LNG trade for the foreseeable future, but U.S. LNG exporters…

Continue Reading At Original Source – OilPrice-com

Ackman Files Second Lawsuit Against U.S. Government

Original Source – (Reuters) Business Insider

Ackman Files Second Lawsuit Against U.S. Government

Activist Bill Ackman’s Pershing Square Capital Management LP filed its second lawsuit in two days against the U.S. government over bailout of Fannie Mae and Freddie Mac , court documents show.

In Friday’s complaint with the U.S. District Court, Pershing Square alleged that the Department of the Treasury illegally seized tens of billions of dollars in Fannie and Freddie profits.

Pershing Square, the largest shareholder of both the mortgage companies, said in the complaint that it was told the Fannie and Freddie stockholders no longer have fundamental shareholders rights.

Fannie’s and Freddie’s conservator, Federal Housing Finance Agency (FHFA), denied “written demands by Pershing Square to the companies’ boards of directors for a books and records inspection”, according to the complaint.

In the second lawsuit, Pershing suggests the mortgage companies’ dividends being paid to the Treasury should be shared among other common shareholders.

Three retirees who own Fannie Mae stock have joined as plaintiffs of the lawsuit.

In a complaint filed on Thursday with the U.S. Court of Federal Claims in Washington, D.C., Pershing accused the government of violating the Fifth Amendment of the U.S. Constitution by taking private property for public use without just compensation.

Continue Reading At Original Source – Business Insider

Cincinnati Bell and ESPN Sign Distribution Agreement for SEC Network

Original Source – Business Wire

Cincinnati Bell and ESPN Sign Distribution Agreement for SEC Network

Just in time for this season’s college football kickoff, Cincinnati Bell has added ESPN’s new SEC Network to its Fioptics lineup. Cincinnati Bell Fioptics customers will have access to the new network on Aug. 14 when it launches.

The SEC Network will broadcast 45 exclusive SEC football games this season. During its first year on-air, the collegiate network will also air 75 baseball games, 100 men’s basketball and 60 women’s basketball games.

“We are happy to enter into a new agreement with ESPN and offer the SEC Network to our Fioptics customers,” said Michael Morrison, director of video & entertainment product development. “There’s no better way to watch sports than with the razor-sharp picture quality of our Fioptics TV.”

The Southeastern Conference is a collegiate athletic conference that is home to some of the nation’s most storied athletic programs including the University of Kentucky and the University of Tennessee.

As part of a larger deal with ESPN that includes the SEC Network and all the current ESPN and Disney channels, Fioptics customers will also enjoy access to Fusion — a lifestyle channel targeted towards millennials — beginning Sept. 30. In addition, TV Everywhere apps like Watch ESPN, Watch Disney and Watch ABC, will be available to Fioptics customers before the end of 2014.

Starting Aug. 14, Cincinnati Bell customers can find the SEC Network on channels 204 (SD) and 604 (HD), with the Fioptics Elite package. Channel 205 (SD) will serve as an overflow channel for additional SEC games. Fusion will be available on channels 250 (SD) and 650 (HD) beginning Sept. 30.

About Cincinnati Bell

With headquarters in Cincinnati, Ohio, Cincinnati Bell, Inc. (NYSE: CBB) provides integrated communications solutions, including local and long distance voice, data, high-speed Internet, entertainment, and wireless services that keep residential and business customers in Greater Cincinnati and Dayton connected with each other and with the world. In addition, enterprise customers across the United States rely on Cincinnati Bell for efficient, scalable office communications systems and end-to-end IT solutions. Cincinnati Bell is the majority owner of CyrusOne (NASDAQ: CONE), which provides best-in-class data center colocation services to enterprise customers through its facilities with fully redundant power and cooling solutions that are currently located in the Midwest, Texas, Arizona, London, and Singapore. For more information, please visit cincinnatibell.com.

About SEC Network

The Southeastern Conference and ESPN have signed a 20-year agreement through 2034 to create and operate a multiplatform network which will launch August 14, 2014. The new network and its accompanying digital platform will air SEC content 24/7 including more than 1,000 events in its first year. The network will televise 45 SEC football games, more than 100 men’s basketball games, 60 women’s basketball games, 75 baseball games, and events from across the SEC’s 21 sports annually. Programming will also include in-depth commentary and analysis in studio shows, daily news and information original content such as SEC Storied, spring football games, and more. Hundreds of additional live events from various sports will be offered exclusively on the digital platform.

Continue Reading at Original Source – Business Wire

Senator Chuck Schumer wants the FTC to regulate data from fitness wearables

Original Source – Venture Beat

Senator Chuck Schumer wants the FTC to regulate data from fitness wearables

Written by Mark Sullivan

Senator Chuck Schumer (D-New York) issued a statement Sunday calling for federal protections against the sharing of personal data by makers of wearable fitness trackers.

Schumer wrote that he sees a potential “privacy nightmare” if companies like FitBit (and he calls that company out by name) are allowed to profit from selling user biometrics data to third party data brokers like Acxiom.

He also worries that the data could even be shared with insurers, mortgage lenders, or employers.

“Personal fitness bracelets and the data they collect on your health, sleep, and location, should be just that — personal. The fact that private health data — rich enough to identify the user’s gait — is being gathered by applications like Fitbit and can then be sold to third-parties without the user’s consent is a true privacy nightmare,” Schumer wrote.

(FitBit has already released a statement denying that it shares personal data with third parties.)

Schumer’s press release goes into all-caps for this statement: “WITHOUT THEIR KNOWLEDGE, FITBIT BRACELETS & SMARTPHONE APPS ARE TRACKING USER’S MOVEMENTS AND HEALTH DATA THAT COULD BE SOLD TO THIRD PARTIES.”

Schumer is calling for the Federal Trade Commission (FTC) to require wearables manufacturers to tell consumers if their personal information is being shared with third parties, and give them a chance to opt out.

Indeed, the FTC has been looking at the privacy around personal data collected by health apps and devices. The FTC “has openly voiced its concern about the selling of personal fitness data between companies, but has yet to take action to push application developers and other fitness monitoring companies to provide an opt-out opportunity,” Schumer says.

Continue Reading At Original Source – Venture Beat

Apple prepares Healthkit rollout amid tangled regulatory web

Original Source – Reuters

Apple prepares Healthkit rollout amid tangled regulatory web

Written by Christina Farr

SAN FRANCISCO (Reuters) – Apple Inc has been discussing how its “HealthKit” service will work with health providers at Mount Sinai, the Cleveland Clinic and Johns Hopkins as well as with Allscripts, a competitor to electronic health records provider Epic Systems, people familiar with the discussions said.

While the talks may not amount to anything concrete, they underscore how Apple is intent on making health data, such as blood pressure, pulse and weight, available for consumers and health providers to view in one place.

Currently, this data is being collected by thousands of third-party health care software applications and medical devices, but it isn’t centrally stored. Apple also hopes physicians will use this data to better monitor patients between visits – with the patient’s consent — so the doctors can make better diagnostic and treatment decisions.

Apple has not divulged much specific detail on HealthKit, which is expected to be incorporated into the iPhone 6 come September. But Apple intends HealthKit to become a lynchpin in a broader push into mobile healthcare — a fertile field that rivals Google and Samsung are also exploring.

The iPhone maker has previously disclosed partnerships with Nike Inc, Epic, and the prestigious Minnesota-based Mayo Clinic, which boasts a suite of mobile apps. Mayo is reportedly testing a service to flag patients when results from apps and devices are abnormal, with follow-up information and treatment recommendations.

Dozens of major health systems that use Epic’s software will soon be able to integrate health and fitness data from HealthKit into Epic’s personal health record, called MyChart, according to a person briefed by Apple. Kaiser Permanente is currently piloting a number of mobile apps that leverage HealthKit, two people have said, and is expected to reach out to Apple to discuss a more formal partnership.

“Apple is going into this space with a data play,” said Forrester Research’s health care analyst Skip Snow. “They want to be a hub of health data.”

But some implementations with HealthKit may be a challenge due to a web of privacy and regulatory requirements and many decades-old IT systems, said Morgan Reed, executive director of ACT, a Washington-based organization that represents mobile app…

Continue Reading at Original Source – Reuters

Houses are bouncing! Quakes trigger oil controls

Original Source Cnbc – Houses are bouncing! Quakes trigger oil controls

Inside the small U-Haul rental office in Guthrie, Oklahoma, Tami Boxley routinely deals with something that once was rare: the rattling, booming roll of the earth.

In the last week alone, residents of Guthrie, pop. 10,191, have felt five quakes rock the town a half hour’s drive from Oklahoma City.

The most recent rippled through Friday after lunchtime, duly recorded on the “QuakeWatch” application many residents have loaded onto their smartphones. The local newspaper runs a weekly column updating details of the latest quakes.

“It feels like the earth is opening up and you are falling,” said Boxley. “It’s scary.”

Since January, Oklahoma has had 292 earthquakes that register a magnitude 3.0 or larger, more than any other state in the continental United States. That’s nearly triple the 109 last year. Through 2008, Oklahoma averaged less than two a year.

The unprecedented earthquake activity has put Oklahoma in the center of an emerging debate over whether the disposal of wastewater from oil and gas production triggers earthquakes. It has prompted enactment of broad new rules that go into effect Sept. 12.

Continue Reading at Original Source – Cnbc

Picking Up Yield In The Recent Energy Sector Decline

Original Source – Seeking Alpha . Picking Up Yield In The Recent Energy Sector Decline

Written by Bret Jensen

The market measured by the S&P 500 had its worst weekly decline in two years this week. The Dow Jones Industrial Average is now negative for 2014. The Russell 2000 is in even worse shape as it continues to struggle as investors continue to flee “risk on” trades. This can be seen in how significantly it has underperformed the S&P 500 over the past half year. This divergence is not a good sign for the overall health of the market which was recently noted on MarketWatch.

I noticed the energy sector was a significant laggard this week. Small cap E&P plays were particularly hard hit. Oil majors like ConocoPhillips (NYSE:COP) performed better but still were down nicely for the week. High yielding energy partnerships were also hit hard which is somewhat surprising given that the ten year treasury yield moved down to 2.5% this week. Declines in…

Continue reading at Original Source – Seeking Alpha . Written by Bret Jensen

How Chesapeake Energy Is Banking On America’s Next Top Shale Play

Original Source – Seeking Alpha . How Chesapeake Energy Is Banking On America’s Next Top Shale Play

Written by Callum Turcan

Ohio is home to one of America’s best emerging shale plays, the Utica shale. Located right next to the well established Marcellus, the Utica formation offers plenty of upside potential to E&P players willing to take the risk in developing a new area. Chesapeake Energy Corporation (NYSE:CHK) holds over 1 million net acres in the Utica, and has already established itself as one of the premier operators in the region.

Tripe digit growth with liquids potential
From 2012 to 2013, Chesapeake Energy was able to quadruple its output from the Utica, which is guided to grow by an astonishing 300% this year versus 2013 levels. In the first quarter of 2014, Chesapeake Energy pumped out 50,000 barrels of oil equivalent a day, or BOE/d, from the play. As of the end of June that had grown to 75,000 BOE/d, and investors should play close attention to management’s comment around Chesapeake’s

Continue reading at Original Source – Seeking Alpha . Written by Callum Turcan

FDA will exempt more consumer health devices from pre-market review

Source – Venture Beat . FDA will exempt more consumer health devices from pre-market review

Mark Sullivan  Aug 1, 2014 10:11 AM 

mobile-health

Image credit: Venture Beat / Flicker

The Food and Drug Administration issued a new guidance today that exempts still more medical devices — some of them consumer devices — from its regulatory scope. This means the makers of these devices, some of which are connected to apps, no longer have to go through the FDA’s 510(k) review process before they bring their product to market.

The affected devices are largely clinical, including things like anesthesiology, cardiovascular, and dental devices. But a number of consumer mobile and digital health products are exempted as well, including thermometers, stethoscopes, talking first aid kits, hearing aids, fertility diagnostic devices, and exercise equipment.

“The FDA believes devices . . . are sufficiently well understood and do not present risks that require premarket 21 notification (510(k)) review to assure their safety and effectiveness,” the FDA said in the advisory today…

Continue Reading At Original Source . Venture Beat

American Tower – AMT Price Objective Change – 2Q Wrap: Beat and raise closes out solid 2Q for towers – BUY

2Q Wrap: Beat and raise closes out solid 2Q for towers

BofA Merrill Lynch Global Research
A Price Objective Change Report from David W. Barden, CFA

AMT closed out 2Q tower reporting with a solid beat and raise buoyed by strength in global tower leasing demand

We have raised our ’14 rental and management revenue/adj. EBITDA to $3.990b/$2.645b from $3.960b/$2.601b

Our price objective goes to $106 (from $95) rolling forward our target onto updated 2015 AFFO/share estimates
Solid quarter driven by positive global spending environment

AMT closed out 2Q tower reporting with a solid beat and raise buoyed by strength in global tower leasing demand. The company reported organic same-store growth of 13.6% Y/Y in the quarter including 11.4% in the US, meaningfully above its long-term domestic target of 6-8% and raised its aggregate ’14 core organic growth rate assumption to 10.6% from 10.0%, clear signs in our view of the positive current wireless network spending environment. We have raised our PO to $106 (from $95) rolling forward our target onto updated 2015 AFFO/share estimates. Our PO implies a 20x 2015E AFFO multiple, conservative we believe relative to the S&P500 REITs at 21x on average, despite better growth (15% vs. 6% REIT average growth).

Raised outlook leaves consensus below the midpoint

AMT raised its outlook to reflect 1) flow through of the 2Q beat, 2) incremental leasing demand, and 3) the impact from acquisitions closed in the quarter. AMT’s improved outlook reflects ’14 rental and management revenue guidance of $3.945-4.015b vs. $3.895-3.975b previously and our pre-Q $3.960m. EBITDA guidance of $2.615-2.655b compares to $2.555-2.605b previously and our pre-Q $2.601b. ’14 AFFO guidance of $1.755-1.795b is up from $1.725-1.765b previously and compares to our pre-Q $1.756b. We have raised our ’14 rental revenue/adj. EBITDA to $3.990b/$2.645b from $3.960b/$2.601b. We have raised our ’15 rental revenue/adj. EBITDA to $4.469b/$2.953b from $4.293b/$2.843b including the company’s BR Towers acquisition in Brazil as of Dec. 31, 2014.

2Q beat across the board stripping out one-offs

AMT reported 2Q rental revenue of $1,006m, above our $981m. AMT called out an $8m positive impact from accelerated revenue recognition from a US tenant that was previously expected to occur ratably throughout ’14. EBITDA was $682m, well above our $637m and consensus of $645m, even excluding a one-time $7m expense benefit. AFFO of $473.9m ($1.19/sh) was again well above our $422.2m ($1.06/sh) even backing out a $5m cash tax benefit and the aforementioned $7m opex benefit.