Story by the Associated Press The new leader of North Dakota’s oil-rich Three Affiliated Tribes is pledging to speed negotiations on a proposed pipeline through tribal land that would curb the wasteful burning of natural gas in the state by more than 10 percent. North Dakota’s booming oil production has led to an unmanageable increase in the state’s output of
Reports this week indicated that Germany might be modifying its fracing laws to make it possible for companies to drill for shale gas. Many hoped that the German government might lift its ban on fracing at depths shallower than 3,000 meters (9,800ft). While the government has said that they plan to review the process closely, they will not ban the
Based on the Energy Information Agency’s database, imports of all grades of oil from Canada have climbed by 27% in the last five years. Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be
Sanchez Energy Corporation (ticker: SN), a rapidly expanding E&P targeting the Eagle Ford Shale, announced an increase of $287.5 million to its borrowing base in a press release on November 20, 2014. Per the terms of the commitment, SN has an available borrowing base of $650 million (up from its initial base of $362.5 million) with an elected commitment of $300
Bills Would Change How the EPA Operates The U.S. House of Representatives today voted to pass H.R. 4795, the Promoting New Manufacturing Act, with a vote of 238-172. The bill is set to help cut red tape associated with building new factories that use natural gas by reducing permitting delays, ensuring the EPA provides timely guidance about how to comply
Breitburn Energy Partners LP (BBEP) announced that it completed the acquisition of QR Energy, LP on November 19, 2014. In connection with the acquisition, Breitburn has elected Donald D. Wolf to its Board of Directors. Mr. Wolf is the former Chairman and CEO of Westport Resources Corporation and former Chairman of QR Energy. Mr. Wolf has served as the Chairman
Forest Oil Corporation (FST) (Forest or the Company) today announced that its shareholders have approved, by majority vote of the outstanding shares of Forest, all of the proposals that were presented with respect to the previously announced business combination transaction with Sabine Oil & Gas LLC at the Company’s special meeting of shareholders held today. Forest will file the voting
“President has the best interests of the EPA in mind” After mid-term elections that saw the Senate change hands from the Democrats to the Republicans and increased the GOP’s representation in the House, many in the GOP are saying the American people have spoken out loud and clear against President Obama’s political agenda, including initiatives about climate. Sen. James Inhofe
Earlier this year, the U.S. and the E.U. began a sanction regime against Russia in response to the ongoing crisis in Ukraine. The sanctions are being used to target specific industries in the Russian economy, particularly oil and gas, the defense industry and the banking sector. Some companies, such as Russia’s oil company Rosneft (ticker: ROSN), have hired lobbyists to
Evolution Petroleum Corporation (NYSE MKT: EPM) today provided additional information about its expected capital requirements for fiscal years ending June 30, 2015 and 2016, particularly the Delhi Field in northeast Louisiana. Denbury Resources Inc. (“DNR”), operator of the Delhi Field, recently announced its intention to substantially reduce its total corporate capital spending plans for calendar 2015. Evolution previously announced expected
Breitling Energy Corporation (BECC) (the “Company”) announces David J. Kovacs has joined the management team as Executive Vice President of Strategic Development. Mr. Kovacs specializes in investment banking, private equity and venture capital and has extensive experience in both mature and emerging markets, having analyzed hundreds of deals and executing both buy and sell-side engagements. Prior to joining the Company,
In October, OAG360 examined the internal rate of return (IRR) in two of America’s key shale basins – the Eagle Ford (EF) and Bakken. EnerCom’s analysis showed the Eagle Ford is more economic than its rival basin by a handful of percentage points, no matter the price. Oil prices for West Texas Intermediate crude have hovered around the $75 per
