Archive for January, 2015

Crude Oil Cuttings for the Week Ended January 23, 2015

Crude Oil Cuttings for the Week Ended January 23, 2015

CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/23/15)

crude_oil_cuttingsCurrent: 406,727

Actual Build/(Withdrawal): 8,874

Economist Average Estimate: 4,000

Previous: 397,853

Click here for the chart with five year averages.

Click here for an archive of EnerCom’s Inventory Reports.


ANALYST COMMENTARY

Raymond

January 28, 2015 - 5:37 pm Commodity Pricing, Oil and Gas 360 Articles

CLB Q4 2014: NEW TECHNOLOGY DRIVES MOST PROFITABLE QUARTER EVER; ALL-TIME QUARTERLY HIGHS FOR REVENUE AND FCF; AND EPS, NET INCOME, AND OPERATING MARGINS, EX-FX; COMPANY INCREASES Q1 2015 DIVIDEND BY 10%

CLB Q4 2014: NEW TECHNOLOGY DRIVES MOST PROFITABLE QUARTER EVER; ALL-TIME QUARTERLY HIGHS FOR REVENUE AND FCF; AND EPS, NET INCOME, AND OPERATING MARGINS, EX-FX; COMPANY INCREASES Q1 2015 DIVIDEND BY 10%

January 28, 2015 - 4:30 pm 360 Company Releases
Chart of the Week: Crude Inventories Highest on Record

Chart of the Week: Crude Inventories Highest on Record

The rig count is dropping, but crude inventories continue to grow. In fact, EnerCom’s Crude Oil Cuttings inventory report is at risk of expanding the maximum range of barrels, a move we’ve never been prompted to make.

The Energy Information …

January 28, 2015 - 1:44 pm Chart of Week, Oil and Gas 360 Articles
New $7 Billion Ghana Offshore Project Set to Start Producing in 2017

New $7 Billion Ghana Offshore Project Set to Start Producing in 2017

1.45 Tcf gas, 5MMBO project is 12% of 2015’s Foreign Direct Investment in Africa: Ghana President

The government of Ghana, ENI (ticker: E) and Vitol yesterday signed an agreement to start work on the Offshore Cape Three Points (OCTP) oil …

January 28, 2015 - 1:38 pm International, Offshore, Oil and Gas 360 Articles

EnerCom, Inc. to Host The Oil & Services Conference(TM) 13, February 18-19, 2015, in San Francisco

EnerCom, Inc. to Host The Oil & Services Conference(TM) 13, February 18-19, 2015, in San Francisco

January 28, 2015 - 12:00 pm 360 Company Releases

EnerCom, Inc. to Host The Oil & Services Conference(TM) 13, February 18-19, 2015, in San Francisco

EnerCom, Inc. to Host The Oil & Services Conference(TM) 13, February 18-19, 2015, in San Francisco

January 28, 2015 - 12:00 pm 360 Company Releases

Unit Corporation Posts Updated Presentation to Website

Unit Corporation Posts Updated Presentation to Website

January 28, 2015 - 9:00 am 360 Company Releases

RPC, Inc. Announces Regular Quarterly Cash Dividend

RPC, Inc. Announces Regular Quarterly Cash Dividend

January 28, 2015 - 7:15 am 360 Company Releases

RPC, Inc. Reports Fourth Quarter and Year-End 2014 Financial Results

RPC, Inc. Reports Fourth Quarter and Year-End 2014 Financial Results

January 28, 2015 - 7:15 am 360 Company Releases
Oil & Gas Development on the East Coast Takes Next Step

Oil & Gas Development on the East Coast Takes Next Step

The United States Department of the Interior, in conjunction with President Obama, Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management Director Abigail Ross Hopper, released a Draft Proposed Program for development of offshore properties in an …

Energy XXI Mourns the Passing of Board Member Paul Davison

HOUSTON, Jan. 27, 2015 (GLOBE NEWSWIRE) — Energy XXI (Nasdaq:EXXI) regretfully announced the passing of Mr. Paul Davison. Mr. Davison suddenly passed away at the age of 61. Mr. Davison served as one of our independent non-executive directors since May …

January 27, 2015 - 5:49 pm Energy News

Poll: 71 percent of North Carolina voters favor offshore oil and natural gas development

WASHINGTON, January 27, 2015 – More than seven in ten North Carolina voters support offshore drilling for domestic oil and natural gas resources, according to a new poll conducted by Harris Poll for API’s “What America is Thinking on Energy …

January 27, 2015 - 5:38 pm Energy News

Natural Gas Rises as Blizzard Signals Heating Demand Boost

From Bloomberg:

Natural gas futures climbed in New York as a winter storm brought frigid weather to the Northeast, boosting heating demand.

The storm was forecast to drop snow across central and eastern New England into Wednesday, according to the …

January 27, 2015 - 5:37 pm Energy News
Oil & Gas 360® Presents “TOP MINDS IN THE BUSINESS”  an Exclusive Interview with Tom Petrie

Oil & Gas 360® Presents “TOP MINDS IN THE BUSINESS” an Exclusive Interview with Tom Petrie

View the PDF   – Download Video File

Few people understand the business of oil and gas better than Tom Petrie.

After serving as senior oil analyst for First Boston, Petrie co-founded Petrie Parkman & Co., merged it into Merrill Lynch …

January 27, 2015 - 5:24 pm C-Level Interviews, OPEC, Top Minds, Uncategorized, Videos

Transnet Plans $853 Million South African Oil, Gas Service Port

From Reuters:

Transnet SOC Ltd., South Africa’s state-owned logistics company, said it would develop a service facility for the oil and gas industry at the port of Saldanha Bay in the country’s Western Cape province.

The 9.65 billion-rand ($853 …

January 27, 2015 - 5:19 pm Energy News

Gazprom moves to supply Russian LNG to Asia Pacific markets

From Oil & Gas Technology:

Gazprom Marketing & Trading Singapore, company of Gazprom Group and Yamal Trade have signed a long-term sales and purchase contract for liquefied natural gas (LNG) from the Yamal LNG project

The contract that will be …

January 27, 2015 - 5:18 pm Energy News

American Eagle Energy Announces Sale of Certain Non-Core Assets to Enhance Liquidity

DENVER, CO — (Marketwired) — 01/27/15 — American Eagle Energy Corporation(NYSE MKT: AMZG) (“American Eagle” or the “Company”), announces that it recently closed the sale of certain non-core, non-operated working interests in oil and gas properties located in Divide …

January 27, 2015 - 5:15 pm Energy News

Rex Energy Announces 2014 Proved Reserves Increased 57% to 1.3 Tcfe

  • Proved developed reserves increased to 586.7 Bcfe, or 65%, over 2013
  • Drill-bit F&D in Butler Operated Area of $0.41/mcfe, among the best in the Marcellus Shale
  • Overall drill-bit F&D of $0.67 / mcfe
  • Successfully replaced ~972% of production in 2014
January 27, 2015 - 5:14 pm Energy News
Obama Administration Announcement on ANWR Enrages Critics

Obama Administration Announcement on ANWR Enrages Critics

The Obama Administration’s announcement of plans to expand protection in ANWR is a ‘declaration of war’ says Alaskan Congresswoman

The White House released a revised Comprehensive Conservation Plan Sunday, which will designate 12.28 million acres in Alaska’s Arctic National …

January 27, 2015 - 4:55 pm Oil and Gas 360 Articles, Politics & Opinions

SandRidge Energy, Inc. Announces 2014 Fourth Quarter and Full-Year Financial and Operational Results Release Date and Conference Call Information

SandRidge Energy, Inc. Announces 2014 Fourth Quarter and Full-Year Financial and Operational Results Release Date and Conference Call Information

January 27, 2015 - 4:15 pm 360 Company Releases

Energy XXI Mourns the Passing of Board Member Paul Davison

Energy XXI Mourns the Passing of Board Member Paul Davison

January 27, 2015 - 4:00 pm 360 Company Releases
U.S. Crude Oil Exports Are Quietly Picking up Steam

U.S. Crude Oil Exports Are Quietly Picking up Steam

Reuters reports Enterprise Products Partners (ticker: EPD) has secured light crude oil export contracts with Mitsubishi’s Petro-Diamond Singapore and Vitol, an independent oil trader, for volumes of 40 MBOPD in 2015. The information comes from Reuters sources based on anonymity, …

Dana Gas Iraq Operations

‘Oil Prices are Too Low’ – President of Saudi Aramco

The President of state-owned Saudi Aramco says prices are too low, but it’s not Saudi’s responsibility to bolster them

Khalid al-Falih, President and CEO of state-owned Saudi Aramco, said that while prices are “too low for everybody,” it is not …

January 27, 2015 - 1:53 pm Oil and Gas 360 Articles, OPEC

Breitling – Bering Merger Named a 2014 Deal of the Year

Breitling – Bering Merger Named a 2014 Deal of the Year

January 27, 2015 - 9:12 am 360 Company Releases

American Eagle Energy Announces Sale of Certain Non-Core Assets to Enhance Liquidity

American Eagle Energy Announces Sale of Certain Non-Core Assets to Enhance Liquidity

January 27, 2015 - 9:05 am 360 Company Releases
Energy Transfer Partners to Become Second-Largest MLP in $18 Billion Acquisition

Energy Transfer Partners to Become Second-Largest MLP in $18 Billion Acquisition

Energy Transfer Partners (ticker: ETP) and Regency Energy Partners (ticker: RGP) announced plans for a definitive merger in a joint press release issued on January 26, 2015. The proposal consists of a unit-for-unit transaction with an implied value of approximately …

January 26, 2015 - 6:36 pm Mergers & Acquisitions, MLPs, Oil and Gas 360 Articles
OPEC: Too Close to Call - Oil & Gas 360

Oil Prices may have Found the Bottom – OPEC Secretary General

OPEC Secretary General al-Badri says oil prices may have found the floor, but warns of future spikes

Abdulla al-Badri, Secretary General of OPEC, thinks oil prices have reached their bottom and may start rising soon. He warned that under-investment now …

January 26, 2015 - 6:26 pm Commodity Pricing, Oil and Gas 360 Articles, OPEC
Egypt awards $2.2 billion LNG tender to four foreign firms – state gas board

Egypt awards $2.2 billion LNG tender to four foreign firms – state gas board

Story by Reuters:

Egypt’s state gas board has awarded a $2.2 billion (1.5 billion pounds) tender to import 75 cargoes of liquefied natural gas (LNG) to four international firms, its chairman said on Sunday, as the country seeks new energy …

January 26, 2015 - 6:22 pm Energy News

Sanchez Energy Corporation Commences Exchange Offer For Senior Notes Due 2023

HOUSTON, Jan. 23, 2015 /PRNewswire/ — Sanchez Energy Corporation (“Sanchez Energy” or, the “Company”) (NYSE: SN) announced today that it has commenced an exchange offer of up to $1,150,000,000 million aggregate principal amount of its 6.125% Senior Notes due 2023 …

January 26, 2015 - 6:20 pm Energy News

Valero Energy Corporation Increases Regular Cash Dividend by 45 Percent

The Board of Directors of Valero Energy Corporation (NYSE: VLO, “Valero”) has approved an increase in the company’s regular quarterly cash dividend on common stock from $0.275 per share to $0.40 per share, effective with the quarterly dividend the Board …

January 26, 2015 - 6:01 pm Energy News