The results are in. CAMAC Energy’s (ticker: CAK) updated estimate on four prospects offshore Nigeria revealed unrisked P50 recoverable resources of 2,377 MMBO – a 443% increase from the previous estimate of 537 MMBO. In a conference call following the release, Dr. Kase Lawal, Chairman and Chief Executive Officer of CAMAC Energy, said the increase will have a “monumental impact
Today the EIA put out its September Natural Gas Monthly, with data through July 2014. In the report, the U.S.’s July dry gas production of 70.4 Bcf/day set the record for “the highest ever for any month,” the EIA said. But total consumption of natural gas fell short of production by almost 10 Bcf/day in July, which was the lowest
By Julie Gordon and Scott Haggett (Reuters) – Enbridge Inc , Canada’s largest pipeline operator, said on Tuesday it may have to build new pipeline capacity from its Superior, Wisconsin, storage hub if oil shipments from Canada and the Bakken shale field of North Dakota keep expanding. Speaking at the company’s annual investor day in Toronto, Guy Jarvis, head of the oil pipeline unit, said …
Calling the move “transitional,” Encana Corp. (ticker: ECA), Canada’s largest natural gas company, has announced it will acquire all shares and assume the senior notes of Fort Worth’s Athlon Energy (ticker: ATHL) in a US$7.1 billion cash offer, which Encana says is immediately accretive to cash flow per share. Under the terms of the merger agreement, Athlon shareholders will receive
Takeaway Record for Eureka Hunter Follows Magnum Hunter Resources (ticker: MHR) is betting big in the Marcellus/Utica, and a company announcement on September 24, 2014, supports its assessment. The Stewart Winland 1300U well in Tyler County, West Virginia, returned an initial production rate of 46.5 MMcf after being drilled to a true vertical depth of 10,825 feet (including a 5,289
NiSource Inc. (ticker: NI) said yesterday it will file a registration statement for an IPO of common units for a new MLP whose assets will consist of a 14.6% interest in CPG OpCo LP, which will own the natural gas transmission, midstream and storage assets of NiSource. NiSource, through its wholly owned subsidiary Columbia Energy Group, will own the general partner
As oil production hit 1 million barrels a day this past spring, the state began a marketing push to woo even more workers with the slogan “Find the Good Life in North Dakota.” Because everyone, including the cashiers, made so much money, the Bison had to charge a lot.
In a press release out yesterday, the House of Representatives Energy & Commerce Committee warned there was bad news for New England households and businesses: electricity supplier National Grid told customers that they can expect to see significantly higher power bills this winter. The company is urging consumers to conserve energy to prepare for the cold temperatures and high rates
Yesterday, Governor Hickenlooper’s hand-picked Task Force regarding State and Local Regulation of Oil and Gas Operations met for the first time. The 21 members are people within the Colorado community who represent oil and gas companies, environmental groups, the farming and homebuilding communities, civic leaders, attorneys and government leaders. The task force was created to smooth out the bumps in
At one of today’s sessions at the 2014 Natural Gas Symposium in Denver, hosted by Colorado State University’s Energy Institute, panelists discussed global implications of the abundance and accessibility of North American natural gas and how the shale revolution is changing the geopolitics of energy. The panel looked at such things as how U.S. shale gas could affect global economic
Cabot Oil & Gas (ticker: COG) is the second-largest producer by volume in the Marcellus Shale, but the E&P continues to dial up operations in another prolific shale play: the Eagle Ford. On September 24, 2014, Cabot announced the acquisition of 30,000 net acres in the Eagle Ford – 17,000 of which are near the company’s Buckhorn operating area. The
ONEOK has laid enough pipe to go from Dallas to NYC five times and it’s not nearly enough. The current state of the United States oil and gas industry is indicative of a foot race between two Olympic athletes. In lane one is the upstream division, in lane two is the midstream. The stadium is packed – standing room only,
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