Archive for December, 2014

Phillips 66 Announces 2015 Capital Program

Phillips 66 (PSX) announces its 2015 capital budget of $4.6 billion. These investments are intended to support midstream business growth, including that of the company’s master limited partnership, Phillips 66 Partners LP, as well as ensure ongoing operating …

December 5, 2014 - 5:30 pm Energy News

Oryx Petroleum Announces Update for the Demir Dagh Field in the Kurdistan Region of Iraq

Oryx Petroleum Corporation Limited (“Oryx Petroleum” or the “Group”) today announces an update regarding development, production and sales for the Demir Dagh field in the Kurdistan Region of Iraq (“KRI”).

Highlights:

* The Demir Dagh-7 well will be tied into …

December 5, 2014 - 4:37 pm 360 Company Releases

Callon Petroleum Declares Series A Preferred Dividend

Callon Petroleum Declares Series A Preferred Dividend

December 5, 2014 - 9:17 am 360 Company Releases

Penn Virginia Corporation Announces Participation in Upcoming Investor Conferences

Penn Virginia Corporation Announces Participation in Upcoming Investor Conferences

December 5, 2014 - 8:35 am 360 Company Releases
Enbridge Announces Plans to Increase Dividends by More than 30%

Enbridge Announces Plans to Increase Dividends by More than 30%

Enbridge Inc. (ticker: ENB), the operator of the world’s longest crude oil transportation system, today announced a 33% increase to its next quarterly common share dividend, as well as a Canadian restructuring plan and corresponding new dividend payout policy range. …

December 4, 2014 - 5:37 pm Canada, Oil and Gas 360 Articles
U.S. Shale will Drive 30% Oilservice Spending Rebound in 2017: BI

Q3 Company Analytics Now Available on Oil & Gas 360®

Oil & Gas 360® has posted new Q3 profiles and downloadable company analytics tearsheets for 31 E&Ps and Oilservice companies.

Company summaries, stock performance data and news release archives may be found on the Oil & Gas 360® home page …

Natural Gas Roundup for the Week Ended November 28, 2014

Natural Gas Roundup for the Week Ended November 28, 2014

roundup2NATURAL GAS INVENTORY (Week Ended 11/28/14)

Current: 3,410 Bcf

Actual Injection/(Withdrawal): (22) Bcf

Economist Average Estimate: (40) Bcf

Previous: 3,432 Bcf

Click here for the chart with five year averages.

Click here for an archive of EnerCom’s Inventory Reports


**All …

December 4, 2014 - 5:11 pm Oil and Gas 360 Articles
Eclipse Resources: Six New Wells Online in the Utica

Eclipse Resources: Six New Wells Online in the Utica

Eclipse Resources (ticker: ECR) provided an operational update on its recent production and drilling activities. From September 30 (the end of the third quarter 2014) to November 30th, the company brought six new operated wells online in the …

EIA: U.S. Proved Reserves of Oil and NatGas at Record Highs

EIA: U.S. Proved Reserves of Oil and NatGas at Record Highs

The EIA reported today that U.S. proved reserves of oil increased for the fifth year in a row in 2013, while U.S. natural gas proved reserves increased 10% and are now at an all-time high.

A net addition of 3,100 …

December 4, 2014 - 12:20 pm Oil and Gas 360 Articles

New Sports and Fitness Book Published by Elsevier: “The Science of Fitness” Co-Authored by Legendary Cyclist Greg LeMond and Mark Hom, MD

New Sports and Fitness Book Published by Elsevier: “The Science of Fitness” Co-Authored by Legendary Cyclist Greg LeMond and Mark Hom, MD

December 4, 2014 - 8:00 am 360 Company Releases

New Sports and Fitness Book Published by Elsevier: “The Science of Fitness” Co-Authored by Legendary Cyclist Greg LeMond and Mark Hom, MD

New Sports and Fitness Book Published by Elsevier: “The Science of Fitness” Co-Authored by Legendary Cyclist Greg LeMond and Mark Hom, MD

December 4, 2014 - 8:00 am 360 Company Releases
Crude Oil Cuttings for the Week Ended November 28, 2014

Crude Oil Cuttings for the Week Ended November 28, 2014

crude_oil_cuttingsCRUDE OIL INVENTORY/’000 bbls (Week Ended 11/28/14)

Current: 379,335

Actual Build/(Withdrawal): (3,689)

Economist Average Estimate: 950

Previous: 383,024

Click here for the chart with five year averages.

Click here for an archive of EnerCom’s Inventory Reports


UBS Investment Research Note

December 3, 2014 - 7:14 pm Commodity Pricing, Oil and Gas 360 Articles

Kinder Morgan Announces 2015 Financial Expectations; Expects to Declare Dividends of $2.00 Per Share With Over $500 Million of Excess Coverage

Kinder Morgan, Inc. (KMI) today announced its preliminary 2015 financial projections. KMI expects to declare dividends of $2.00 per share for 2015, an approximately 16 percent increase over the 2014 dividend budget of $1.72 per share.

Chairman and …

December 3, 2014 - 7:07 pm Energy News

Stone Energy Corporation Provides Update on Deep Water Cardona Project

Stone Energy Corporation (SGY) today provided an operational update on its Cardona deep water development project.  The Cardona project initial production testing started in late November and the two wells (Cardona #4 and #5) have been tested and …

December 3, 2014 - 7:06 pm Energy News

Devon Energy President and CEO, John Richels, to Retire July 31, 2015

John Richels (63), president and CEO of Devon Energy Corporation (DVN), has announced his retirement effective July 31, 2015. The board of directors intends to elect Dave Hager (58), currently Devon’s chief operating officer, to succeed Richels as …

December 3, 2014 - 7:05 pm Energy News
Supermajors Prepare for New Oil Frontier by Centralizing Budgets, Focus

Supermajors Prepare for New Oil Frontier by Centralizing Budgets, Focus

Dozens, even hundreds of E&Ps and service providers in the oil and gas industry have recently announced intentions to dial back expenditures in 2015. Supermajors like Shell (NYSE: RDSB) and ExxonMobil (NYSE: XOM), on the other hand, both pledged to …

Well Permits in the U.S. down as Companies Wait for Better Price Environment

Well Permits in the U.S. down as Companies Wait for Better Price Environment

Data from Drilling Info Inc. shows the amount of new well permits being issued across the United States dropped 40% in the last month, reports Reuters. The information, which was released yesterday, showed only 4,520 new well permits were …

December 3, 2014 - 6:47 pm Oil and Gas 360 Articles
Hedge Funds on Pace for Most Closures since 2009

Hedge Funds on Pace for Most Closures since 2009

December, the final month of 2014, may be a proverbial light at the end of the tunnel for hedge funds. The year has not been kind to hedge-fund land, as CNBC explained in an October article:

First, they have …

December 3, 2014 - 6:45 pm 360 Company Releases, Commodity Pricing, Finance
Implied Gasoline Demand at Near Record Highs

Implied Gasoline Demand at Near Record Highs

Global Hunter Securities reported implied gasoline demand for motor gasoline is 568.6 MBOPD more than the 5-year average for demand (including 2014). Based on information from the United States Energy Information Administration (EIA), implied demand for motor gasoline increased by …

December 3, 2014 - 6:26 pm Oil and Gas 360 Articles
Source: WPX

Southwestern Energy Expands Acreage in Marcellus

Southwestern announced yesterday the addition of 46,700 net acres to its expanding Marcellus play.

Southwestern Energy Company (ticker: SWN) released a statement yesterday saying that it has signed an agreement to purchase oil and gas assets, including approximately 46,700 net …

December 3, 2014 - 4:26 pm Mergers & Acquisitions, Oil and Gas 360 Articles

Magellan Announces Potential Acquisition of CO2 Source and Poplar Pilot Update

DENVER, CO — (Marketwired) — 12/03/14 — Magellan Petroleum Corporation (NASDAQ: MPET) (“Magellan” or the “Company”) today announced that it has, through an affiliated entity, acquired an option to acquire a large CO2 reservoir called Farnham Dome located in

December 3, 2014 - 2:13 pm 360 Company Releases
U.S. Debt Surpasses $18 T

U.S. Debt Surpasses $18 T

Real Time View of the Growing Number of Congress-Authorized U.S. Dollars that Future Generations Will Have to Repay

Back in January of 2014, Global Economic Analysis charted the trend line for the U.S. national debt. The debt surpassed $18 trillion …

December 3, 2014 - 1:30 pm Chart of Week

Magellan Announces Potential Acquisition of CO2 Source and Poplar Pilot Update

Magellan Announces Potential Acquisition of CO2 Source and Poplar Pilot Update

December 3, 2014 - 12:15 pm 360 Company Releases

New Elsevier Reference Module in Biomedical Sciences Now Available

New Elsevier Reference Module in Biomedical Sciences Now Available

December 3, 2014 - 12:14 pm 360 Company Releases

CAMAC Energy Announces Additional Drilling Rig for Offshore Nigeria

CAMAC Energy Inc. (“CAMAC” or the “Company”) (NYSE MKT:CAK) announced today that it has signed a contract with a subsidiary of Transocean Ltd. for the provision of the semi-submersible drilling unit Sedco Express for drilling and completion activities offshore Nigeria

December 3, 2014 - 11:21 am Energy News

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

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 …

December 2, 2014 - 6:48 pm Energy News

WPX Energy Begins to Monetize Marcellus Shale Assets

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 …

December 2, 2014 - 6:46 pm Energy News
Source: Petronas

Oil & Gas 360® LNG Update

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 …

December 2, 2014 - 6:27 pm Oil and Gas 360 Articles
Emerald Oil “Well Positioned” to Withstand Current Oil Price Environment

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

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 …

CARBO Presenting at Capital One Securities, Inc. 9th Annual Energy Conference

CARBO Presenting at Capital One Securities, Inc. 9th Annual Energy Conference

December 2, 2014 - 4:05 pm 360 Company Releases