December 2, 2014 – Oil & Gas 360

ONEOK Announces Higher 2015 Financial Guidance; Updates Three-year Financial Forecasts

December 2, 2014

ONEOK, Inc. (OKE) today announced that its 2015 cash flow available for dividends is expected to be in the range of $580 million to $660 million, reflecting higher anticipated cash distributions received from its general and limited partner interests in ONEOK Partners (OKS). The 2015 earnings guidance also includes a 14 percent increase in shareholder dividends declared compared with 2014,

WPX Energy Begins to Monetize Marcellus Shale Assets

December 2, 2014

WPX Energy (WPX) announced today it signed an agreement to sell its operations in northeast Pennsylvania and release certain firm transportation capacity to Southwestern Energy Company (SWN) for approximately $300 million cash. “The transformation of our company continues as we execute our strategy,” said Rick Muncrief, WPX president and chief executive officer. “We’re heading into 2015 reshaped, refocused and ready

Oil & Gas 360® LNG Update

December 2, 2014

Freeport LNG Closes on $11 Billion in Financing for new Facility Freeport LNG Expansion, L.P. announced last week that it successfully closed on debt and equity financing commitments of approximately $11 billion in capital required for the development of the initial two trains of Freeport LNG’s natural gas liquefaction and LNG loading facility on Quintana Island near Freeport, Texas. Commitments

Emerald Oil “Well Positioned” to Withstand Current Oil Price Environment

December 2, 2014

EOX Says Breakeven Price in the Bakken is $55/BOE Emerald Oil is a pure play Williston Basin E&P with operations targeting the Bakken, Pronghorn and Three Forks shale oil formations. The company averaged production of 3,855 BOEPD in its Q3’14 results, along with net income of $13.7 million ($0.21 per share). The results represent respective increases of 3% and 80%

Denton Fracturing Ban Enacted, but the Battle is Far from Over

December 2, 2014

The hydraulic fracturing ban approved by the city of Denton on November 4 comes into effect today, but is already being contested by the industry in Denton’s courts. The Texas Oil and Gas Association (TXOGA) filed a lawsuit calling the ban invalid and unenforceable just hours after the ban was approved. Now, Denton’s attorneys have filed a legal brief calling

South Stream Cancelled by Russia

December 2, 2014

Russian President Vladimir Putin announced Monday that Russia will be cancelling its $40 billion South Stream gas pipeline project. Mr. Putin cited unwillingness from European countries as the main reason for shutting down the project saying: “[the project’s cancellation] is the decision of our European friends. They are, in the end, customers. It is their choice.” Falling oil prices and

Bellatrix Announces the Sale of Minority Interests in its New Deep Cut Gas Plant and Facilities Being Constructed in the Alder Flats Area and the Securing of Additional Strategic Firm Capacity in the Strachan Area

December 2, 2014

Bellatrix Announces the Sale of Minority Interests in its New Deep Cut Gas Plant and Facilities Being Constructed in the Alder Flats Area and the Securing of Additional Strategic Firm Capacity in the Strachan Area

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