Archive for December, 2014

What are Energy Companies Thinking as they Head into 2015?

What are Energy Companies Thinking as they Head into 2015?

Dropping Oil Prices = Changing Landscape for E&Ps, Midstream, OilService Companies

At last week’s 2014 Energy Symposium hosted by Wells Fargo Securities at the Waldorf Astoria, the sentiment expressed by the energy companies was far different from what had been …

Chevron Cancels Shale Gas Deal in Ukraine

Chevron Cancels Shale Gas Deal in Ukraine

Chevron (ticker: CVX) has terminated its contract with Ukraine to extract shale gas in the western part of the country. The world’s third largest oil company by market cap spent more than a year to get the government to simplify …

December 15, 2014 - 6:52 pm International, Oil and Gas 360 Articles

Abraxas Announces Conference Call; Provides Operations and Guidance Update

Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (AXAS) today provided the following operations and guidance update.

Conference Call

Abraxas will host a conference call on Tuesday, December 16, 2014 at 10 AM Central Time (11 AM Eastern Time) …

December 15, 2014 - 5:28 pm Energy News
Range Resources Announces 2015 CapEx and Record Well in the Utica

Range Resources Announces 2015 CapEx and Record Well in the Utica

Utica/Point Pleasant well sets Appalachia record

Range Resources (ticker: RRC) announced today its 2015 capital budget and initial results from its Utica/Point Pleasant well located in Washington County, Pennsylvania.

Range has set its 2015 capital budget at $1.3 billion, a …

U.S. Energy Corp. Announces Appointment of President and Chief Operating Officer

U.S. Energy Corp. (Nasdaq:USEG) (the “Company”), today announced the appointment of Mr.David Veltri as President and Chief Operating Officer (“COO”) of the Company, effective January 1, 2015. In addition, the Company announced the approval by its Board of Directors of …

December 15, 2014 - 5:16 pm Energy News

Dawson Geophysical Announces Postponement of 2015 Annual Meeting

Dawson Geophysical Announces Postponement of 2015 Annual Meeting

December 15, 2014 - 5:00 pm 360 Company Releases

Energy XXI Names Jim LaChance and Norm Louie to Board of Directors

Energy XXI Names Jim LaChance and Norm Louie to Board of Directors

December 15, 2014 - 4:00 pm 360 Company Releases
BP, Husky Oil Sands JV Starts Operations

BP, Husky Oil Sands JV Starts Operations

Partners BP and Husky expect oil from Sunrise Energy Project by Q1 of next year

On December 11, Husky Energy (ticker: HSE) announced that it has commenced steam operations at its Sunrise Energy Project, a joint venture (JV) with BP …

December 15, 2014 - 3:57 pm Canada, Oil and Gas 360 Articles, Oil Sands
IEA Oil Market Report for December

IEA Oil Market Report for December

The International Energy Association (IEA) released its Oil Market Report (OMR) for December, cutting the outlook for 2015 global oil demand growth by 230 MBOPD to 900 MBOPD on lower expectations for the Former Soviet Union and other oil-exporting countries, …

December 15, 2014 - 1:24 pm International, Oil and Gas 360 Articles

Bellatrix announces the appointment of Daniel Lewis and Steven J. Pully to its Board of Directors

Bellatrix announces the appointment of Daniel Lewis and Steven J. Pully to its Board of Directors

December 15, 2014 - 8:00 am Uncategorized

CAMAC Energy to Acquire 3D Seismic Offshore Gambia

CAMAC Energy to Acquire 3D Seismic Offshore Gambia

December 15, 2014 - 8:00 am 360 Company Releases

Range Announces 2015 Capital Budget and Record Utica Well Results

Range Announces 2015 Capital Budget and Record Utica Well Results

December 15, 2014 - 6:00 am Uncategorized

Triad Hunter Commences Well Control and Safety Operations on the Stalder 3UH Well Following Blowout

Triad Hunter Commences Well Control and Safety Operations on the Stalder 3UH Well Following Blowout

December 14, 2014 - 5:27 pm Uncategorized
Chart of the Week – Well Cost Sensitivity

Chart of the Week – Well Cost Sensitivity

EnerCom’s Analytics Team ran an analysis of well costs for various basins. The “Current Well Costs” bar shown in the chart represents an average of actual 2014 well costs for a group of E&P companies operating in each basin. The …

December 12, 2014 - 6:55 pm Chart of Week
Enterprise Products Partners Scraps Bakken Pipeline

Enterprise Products Partners Scraps Bakken Pipeline

After offering an extension to attract more commitments, Enterprise decides not to move ahead on project

In a two sentence release from the company today, Enterprise Products Partners (ticker: EPD) announced that it would not be moving forward with its …

December 12, 2014 - 6:47 pm Midstream, Oil and Gas 360 Articles
VAALCO Energy Updates Operations Offshore Africa

VAALCO Energy Updates Operations Offshore Africa

VAALCO Energy, Inc. is a Houston based independent energy company principally engaged in the acquisition, exploration, development and production of crude oil.  VAALCO places high emphasis on international opportunities and holds acreage in Gabon, Angola and Equatorial Guinea in West …

The Relentless Production of Shale Oil Is Breaking OPEC’s Neck

Story by Bloomberg

The world’s biggest oil companies faced ruin in the summer of 1931. Crude prices had plummeted. Wildcatters were selling oil from the bonanza East Texas field for a nickel a barrel, cheaper than a bowl of chili. …

December 12, 2014 - 6:24 pm Energy News
Futuristic Solar Power Plant Needs NatGas to Make Electricity, Money

Futuristic Solar Power Plant Needs NatGas to Make Electricity, Money

World’s Largest Solar Generating Plant Struggles to Make Ends Meet if the Sun Doesn’t Shine

Who knew? In the midst of free-falling oil prices that have knocked about the growth plans for petroleum developers, owners of the world’s largest solar …

December 12, 2014 - 4:26 pm Commodity Pricing, Oil and Gas 360 Articles
Russia and India Strengthen Energy Ties

Russia and India Strengthen Energy Ties

Rosneft and Essar agree on key terms of Russian oil supplies to India

Russia’s upstream producer Rosneft (ticker: RNFTF) and India’s oil refiner Essar signed key terms of oil and oil products supplies to refineries in India, according to a …

December 12, 2014 - 4:14 pm International, Oil and Gas 360 Articles
Alaska Faces $3.5 Billion Deficit as Oil Prices Drop

Alaska Faces $3.5 Billion Deficit as Oil Prices Drop

Alaska’s revenue forecast, released Wednesday, predicts a deficit of $3.5 billion, an increase of $2.1 billion from what lawmakers expected in April.

The forecast expects unrestricted general fund revenue of $2.6 billion this year, down from $5.4 billion in 2014, …

December 12, 2014 - 3:48 pm Commodity Pricing, Oil and Gas 360 Articles

Miller Energy Announces the Close of Its Acquisition of Savant

Miller Energy Announces the Close of Its Acquisition of Savant

December 12, 2014 - 8:00 am 360 Company Releases

VAALCO Energy Schedules Conference Call to Discuss Etame 8H Results and Development Plans for the Etame and SEENT Platforms

VAALCO Energy, Inc. (NYSE: EGY) today announced that it will hold a conference call on Friday, December 12, 2014, at 10.00 a.m. Central Time (11.00 a.m. Eastern Time) to discuss the results of the recently completed Etame …

December 11, 2014 - 6:55 pm Energy News

Emerald Oil Announces Senior Management Change; Updates 2015 Guidance and CAPEX Plans

Emerald Oil, Inc. (NYSE MKT: EOX) (“Emerald” or the “Company”) today announced a change in senior management and updated production and CAPEX guidance for 2015.

Senior Management Change
The Board of Directors has appointed Mike Dickinson to the position …

December 11, 2014 - 6:53 pm Energy News
Natural Gas Roundup for the Week Ended December 5, 2014

Natural Gas Roundup for the Week Ended December 5, 2014

NATURAL GAS INVENTORY (Week Ended 12/05/14)
roundup2
Current: 3,359 Bcf

Actual Injection/(Withdrawal): (51) Bcf

Economist Average Estimate: (44) Bcf

Previous: 3,410 Bcf

Click here for the chart with five year averages.

Click here for an archive of EnerCom’s Inventory Reports


**All …

December 11, 2014 - 5:42 pm Oil and Gas 360 Articles
Source: Royal Dutch Shell

More LNG Plants Being Built Even as Demand Slows

This week marked the announcement of plans for a new Liquefied Natural Gas (LNG) plant in Louisiana. The news came yesterday as Venture Global LNG said it would invest $4.0 to $4.5 billion to build a gas liquefaction processing plant …

December 11, 2014 - 5:41 pm Oil and Gas 360 Articles
ExxonMobil’s Outlook for Energy Snapshot

ExxonMobil’s Outlook for Energy Snapshot

ExxonMobil (ticker: XOM) released its 2015 Outlook for Energy this week. The report is the company’s long-term global view of energy demand and supply, which ExxonMobil shares to promote understanding of the world’s energy future. The outlook examines energy supply …

December 11, 2014 - 5:23 pm Oil and Gas 360 Articles
Pertamina to Double Refinery Capacity with $25 Billion Investment

Pertamina to Double Refinery Capacity with $25 Billion Investment

Indonesia’s state-run energy firm Pertamina signed Memorandums of Understanding (MOUs) with three global oil refinery operators – Saudi Aramco, Japan’s JX Nippon Oil & Energy and China Petroleum and Chemical Corp (Sinopec) – to upgrade Indonesia’s aging oil refineries on …

December 11, 2014 - 4:53 pm International, Oil and Gas 360 Articles

VAALCO Energy Schedules Conference Call to Discuss Etame 8H Results and Development Plans for the Etame and SEENT Platforms

VAALCO Energy Schedules Conference Call to Discuss Etame 8H Results and Development Plans for the Etame and SEENT Platforms

December 11, 2014 - 4:05 pm Uncategorized
PDC Energy Operational Update: Production Rising with Less Capital

PDC Energy Operational Update: Production Rising with Less Capital

On December 8, 2014, PDC Energy (ticker: PDCE) announced its 2015 capital budget after a profitable Q3’14.

For 2015, PDC’s capital budget is approximately $557 million, a decrease of 14% compared to its 2014 expenditures. The company’s budget includes $526 …

Elsevier Publishes Six New Books on Natural Disasters and Hazards

Elsevier Publishes Six New Books on Natural Disasters and Hazards

December 11, 2014 - 4:00 am Uncategorized