Story by The Denver Post Speaking to reporters outside the White House, Colorado Gov. John Hickenlooper said Tuesday afternoon that he supported the administration’s pledge to veto new legislation from Congress that would fast-track construction of the controversial Keystone XL pipeline. Earlier in the day, Josh Earnest, the White House press secretary, confirmed that President Barack Obama would veto a
Pioneer Natural Resources Company (PXD) (“Pioneer” or “the Company”) today announced that it has converted approximately 85% of its 2015 oil derivative contracts from three-way collars to fixed-price swaps. Pioneer’s 2015 fixed-price oil swaps cover 82,000 barrels of oil production per day at an average NYMEX price of $71.18 per barrel. These fixed-price derivative swaps and Pioneer’s remaining three-way collar
Enterprise Products Partners L.P. (EPD) announced today that the board of directors of its general partner declared an increase in the quarterly cash distribution paid to partners to $0.37 per common unit, or $1.48 per unit on an annualized basis. The quarterly distribution will be paid on Friday, February 6, 2015, to unitholders of record as of the close of
Chevron Corporation (CVX) today announced a significant oil discovery at the Anchor prospect in the deepwater U.S. Gulf of Mexico. Anchor is Chevron’s second discovery in the deepwater Gulf in less than a year. “The Anchor discovery, along with the previously announced Guadalupe discovery, are significant finds for us in the deepwater Gulf of Mexico. We had one of our
Crescent Point will maintain dividend despite 28% CapEx cut Two companies this week, Crescent Point Energy Corp. (ticker: CPG) and Concho Resources Inc. (ticker: CXO), released forward looking statements projecting increased production in 2015, regardless of commodity prices. Crescent Point, which is based in Calgary, Alberta, said in its announcement that the company has set a capital expenditures budget of
MLP Pioneer Cuts Dividend and Capex by more than 50% LINN Energy LLC (ticker: LINE), a top-15 independent oil and natural gas development company, has announced reductions of more than 50% in both capital expenditures and dividends in 2015. LINN Energy has an unconventional approach in the oil in gas industry, with LINE executing on oil and gas development while
Colorado commissioners have decided to allow for higher fines for oil and gas industry violations After much debating, the Colorado Oil and Gas Conservation Commission (COGCC) has decided to approve heavier penalties for oil and gas well operators who violate state regulation. The new penalties include fines of up to $15,000 per day, up from a nearly 60-year old measure
As the new Congress comes to session, one of the first items on the agenda is the Keystone XL Pipeline Obama Veto to Follow Passage: White House Incoming Energy and Commerce Committee member Rep. Kevin Cramer (R-ND) has authored legislation to authorize construction of the Keystone XL Pipeline that will go before the U.S. House of Representatives Friday for a
Story by Bloomberg The world’s richest nations are borrowing for free. Taken together, the average 10-year bond yield of the U.S., Japan and Germany has dropped below 1 percent for the first time ever, according to Steven Englander, global head of G-10 foreign-exchange strategy at Citigroup Inc. That’s not good news. The rock-bottom rates, which fall below zero when inflation
Story by Business News Network As a test of wills between OPEC nations and U.S. shale drillers fuels a global oil market slump, a brewing battle between Canadian and Saudi Arabia heavy crudes for America’s Gulf Coast refinery market threatens to drive prices even lower. While the stand-off between the oil cartel and U.S. producers of light, sweet shale oil
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