Archive for December, 2014

Source: World Review
http://www.worldreview.info/content/libya-faces-crisis-oil-production-hijacked

Conflict in Libya Spreads to Third Oil Port

Fighting between factions in Libya threatens another port in the embattled country

Fighting between Libya’s competing governments has spread to a third oil port, curbing gas exports to Italy and cutting crude production to less than what is necessary to …

December 23, 2014 - 4:08 pm International, Oil and Gas 360 Articles
Southwestern Energy Continues Appalachia Acquisition Spree with $394 Million Deal

Southwestern Energy Continues Appalachia Acquisition Spree with $394 Million Deal

One day after closing on its $4.975 billion acquisition for 413,000 net acres in West Virginia and southern Pennsylvania, Southwestern Energy (ticker: SWN) spent another $394 million to increase its working interest. On December 23, 2014, SWN secured a 20% …

Want to ban fracking? Be ready to pay up under Colorado Legislature bill

Story by the Denver Business Journal

Counties that enact a ban on fracking would have to compensate the owners of mineral rights under a bill Rep. Perry Buck, R-Windsor, plans to introduce during the 2015 legislative session.

Senator-elect Jerry

December 23, 2014 - 3:56 pm Energy News
Oil & Gas 360®’s Canadian E&P Wrap-up

Oil & Gas 360®’s Canadian E&P Wrap-up

After five weeks of reviewing Canada’s E&P companies, Oil & Gas 360® offers its wrap up on this particular section of the industry as we move into 2015.

Based on EnerCom’s E&P Weekly report, which was used to gather all …

December 23, 2014 - 12:05 pm Canada, Oil and Gas 360 Articles
Close proximity of oil and gas drilling operations to residential real estate developments creates problems for operators and homeowners.

Will Oil & Gas Operators Come Together with Local Homeowners in 2015?

What to Expect Before You Begin Drilling 500 Feet from a Group of Million Dollar Homes

Colorado’s Oil & Gas Task Force Offers Oil & Gas Operators, Local Homeowners Some Preliminary Solutions

Drilling the Niobrara was a check-the-box kind of …

Chart of the Week: Natural Gas Pricing Forecast

Chart of the Week: Natural Gas Pricing Forecast

Oil  Gas 360 Chart of the Week EnerCom Natural Gas Pricing ForecastAs indicated by EnerCom’s Natural Gas Roundup inventory report, gas levels fell in line with five year averages for the first time in nearly a full calendar year in the report issued on December 12, 2014. Storage levels were as …

December 22, 2014 - 6:56 pm Analytics, Chart of Week, Oil and Gas 360 Articles

Continental Resources Announces Revised 2015 Capital Budget And Guidance

Continental Resources, Inc. (CLR) (“Continental” or the “Company”) today announced a revised 2015 non-acquisition capital expenditures budget of $2.7 billion.  This level of activity is projected to yield 16% to 20% production growth in 2015 compared to estimated …

December 22, 2014 - 6:51 pm Energy News

Rex Energy Announces 2015 Capital Budget and Production Guidance and Provides a Financial Update

Rex Energy Corporation (“Rex Energy”) (REXX) today announced its 2015 capital budget and production guidance and provided a financial update.

2015 Capital Budget and Production Guidance

The company expects its 2015 operational capital expenditures to be between $180 …

December 22, 2014 - 6:49 pm Energy News

BPZ Energy Announces New Corvina CX15-14D Well Online

BPZ Energy (BPZ) (BPZ), an independent oil and gas exploration and production company, today provided initial production rates from the Corvina CX15-14D development well completed in early December. The well was drilled to a total measured …

December 22, 2014 - 6:48 pm Energy News

Encana Unlocks Value From Montney Midstream Assets With Innovative Sale Agreement

Encana Corporation (“Encana”) announced today it has reached an agreement with Veresen Midstream Limited Partnership (“Veresen Midstream”), a 50/50 limited partnership of Veresen Inc. and affiliates of Kohlberg Kravis Roberts & Co. L.P. (“KKR”), under which Encana and Cutbank Ridge …

December 22, 2014 - 6:44 pm Energy News

SandRidge Energy, Inc. Announces Mandatory Conversion of $200 Million 6.0% Convertible Perpetual Preferred Stock

SandRidge Energy, Inc. Announces Mandatory Conversion of $200 Million 6.0% Convertible Perpetual Preferred Stock

December 22, 2014 - 5:35 pm 360 Company Releases
Whiting Petroleum Announces Increase in Reserves, Credit Commitments

Whiting Petroleum Announces Increase in Reserves, Credit Commitments

Whiting Petroleum (ticker: WLL), the largest producer of the Bakken/Three Forks shale play, announced estimated reserves of 780 MMBOE (83% oil) in a news release on December 22, 2014. The report was independently commissioned by a third party and represents …

Bellatrix Exploration Announces Revised 2015 Guidance, Achievement of 2014 Production Guidance

Bellatrix Exploration Announces Revised 2015 Guidance, Achievement of 2014 Production Guidance

Bellatrix Revises 2015 CapEx and Production Guidance

Calgary-based Bellatrix Exploration (ticker: BXE) announced the achievement of its 2014 year-end production guidance in a news release on December 22, 2014. The company also  revised its 2015 capital budget to $300 million, …

Earthstone Energy, Inc. and Oak Valley Resources, LLC Announce Closing of Strategic Combination and Related Acquisition of Additional Eagle Ford Interests

DENVER, CO and HOUSTON, TX / ACCESSWIRE / December 22, 2014 / Earthstone Energy, Inc. (NYSE MKT: ESTE) (“Earthstone”) and privately-held Oak Valley Resources, LLC (“Oak Valley”) today jointly announced that at a special meeting of Earthstone stockholders held on …

December 22, 2014 - 5:22 pm Energy News
OPEC Will not Cut Production, Regardless of Cost

OPEC Will not Cut Production, Regardless of Cost

Saudi Oil minister says OPEC will not cut, no matter how far prices fall.

Ali al-Naimi, Saudi Arabia’s oil minister, says the kingdom has convinced fellow OPEC members that it is not in the group’s interest to cut oil output, …

December 22, 2014 - 5:16 pm Oil and Gas 360 Articles, OPEC

VAALCO Energy Announces Resumed Production From Ebouri 2-H Well

VAALCO Energy, Inc. (EGY) today announced that production from Well 2-H in the Ebouri field, offshore Gabon, has resumed following successful wireline remedial work.  VAALCO expects production to stabilize at approximately 2,500 gross barrels of oil per day, …

December 22, 2014 - 11:45 am Energy News

EuroSite’s CHP Systems Reduce Energy Dependence

EuroSite’s CHP Systems Reduce Energy Dependence

December 22, 2014 - 9:40 am Uncategorized

Majescor Resources Inc. Provides Update Regarding Successful New Oil Well Drilled by Merger Candidate Advantagewon Oil Corp. and Timing for a Definitive Agreement

Majescor Resources Inc. Provides Update Regarding Successful New Oil Well Drilled by Merger Candidate Advantagewon Oil Corp. and Timing for a Definitive Agreement

December 22, 2014 - 9:25 am Uncategorized

Escalera Resources’ Borrowing Base Reaffirmed at $50 Million

Escalera Resources’ Borrowing Base Reaffirmed at $50 Million

December 22, 2014 - 9:25 am Uncategorized

VAALCO Energy Announces Resumed Production From Ebouri 2-H Well

VAALCO Energy Announces Resumed Production From Ebouri 2-H Well

December 22, 2014 - 9:15 am 360 Company Releases

Whiting Petroleum Corporation Announces Proved Reserves of 780 MMBOE

Whiting Petroleum Corporation Announces Proved Reserves of 780 MMBOE

December 22, 2014 - 9:00 am 360 Company Releases

Bellatrix Announces a Revised 2015 Capital Budget of $300 Million, Updated 2015 Production Guidance, and Achievement of 2014 Exit Rate Production Guidance

Bellatrix Announces a Revised 2015 Capital Budget of $300 Million, Updated 2015 Production Guidance, and Achievement of 2014 Exit Rate Production Guidance

December 22, 2014 - 7:30 am 360 Company Releases

Update on Horse Hill-1 Well

Update on Horse Hill-1 Well

December 22, 2014 - 6:00 am 360 Company Releases
U.S. Crude Production Expected to Grow Despite Low Prices – EIA

U.S. Crude Production Expected to Grow Despite Low Prices – EIA

Low oil prices won’t keep production from growing half a million barrels a day next year according to the EIA

Crude production in the U.S. is expected to increase by 0.7 MMBOPD in 2015 despite low commodity prices, according to

December 19, 2014 - 6:23 pm Oil and Gas 360 Articles
Saratoga Resources Updates Operations, Focuses on Optimization

Saratoga Resources Updates Operations, Focuses on Optimization

Saratoga Resource Inc. (ticker: SARA) announced an update on the company’s recent operations and measures being taken to reduce costs and enhance operational efficiencies in the current oil price environment. SARA holds approximately 52,000 gross/net acres (60% held by production) …

Egypt Turns to Hydraulic Fracturing

Egypt Turns to Hydraulic Fracturing

On Wednesday, December 17, Egypt’s Ministry of Petroleum announced that Egypt’s state oil company (EGPC), Houston based Apache Corp. (ticker: APA) and Shell Egypt (ticker: RDSA) have entered into an agreement for the production of unconventional gas using hydraulic fracturing …

December 19, 2014 - 2:45 pm Fracing, International, Oil and Gas 360 Articles

CBD Oil Comparable to Charlotte’s Web Ready to be Produced by American Farmers

CBD Oil Comparable to Charlotte’s Web Ready to be Produced by American Farmers

December 19, 2014 - 9:35 am Uncategorized

Woulfe Drills High Grade Tungsten Across Wide Intercepts

Woulfe Drills High Grade Tungsten Across Wide Intercepts

December 19, 2014 - 9:30 am Uncategorized

Permian Basin Royalty Trust Announces December Cash Distribution

Permian Basin Royalty Trust Announces December Cash Distribution

December 19, 2014 - 9:30 am Uncategorized

Tesla CEO Musk loses $1 billion as oil, gasoline prices drop

Story by Petro Global News

Tesla Motors CEO Elon Musk has seen his fortune take a billion dollar hit since November as slumping oil prices lower demand for alternative energy and electric cars.

Musk owns 28 million shares in electric …

December 18, 2014 - 6:21 pm Energy News