Archive for January, 2015

EIA: Production Expected to Withstand Falling Rig Count

EIA: Production Expected to Withstand Falling Rig Count

The Energy Information Administration does not expect production to fall alongside rig counts

The Energy Information Administration (EIA) released a note today saying production is expected to remain relatively stable, despite lower rig counts. According to the EIA, a backlog …

January 26, 2015 - 5:56 pm Oil and Gas 360 Articles
Magnum Hunter CEO Gary Evans Sets the Record Straight: “Rumors of Our Death Have Been Greatly Exaggerated”

Magnum Hunter CEO Gary Evans Sets the Record Straight: “Rumors of Our Death Have Been Greatly Exaggerated”

Magnum Hunter Jan. 23 Conference Call

Gary Evans drew on some famous American humor to lead off this morning’s conference call “to discuss macro events affecting the energy sector and company specifics.” Evans paraphrased the famous quip from North American …

Saudi Transitions

Saudi Transitions

King Abdullah’s death means a new king, but not necessarily new policy

Oil prices were up initially on news of the late King Abdullah of Saudi Arabia’s passing with hopes that the new king might change the direction of Saudi …

January 23, 2015 - 5:35 pm International
Source: Tullow Oil

Tullow Oil Announces Discoveries in Kenya

Tullow Oil Plc. (ticker: TLW) announced that a series of appraisal wells have made discoveries in Kenya. The three exploration wells, the Ngamia-5, Ngamia-6 and Amosing-3 appraisal wells all encountered oil, according to the company’s exploration and appraisal update.…

Sanchez Energy Corporation Commences Exchange Offer For Senior Notes Due 2023

Sanchez Energy Corporation Commences Exchange Offer For Senior Notes Due 2023

January 23, 2015 - 4:05 pm 360 Company Releases

Magnum Hunter Resources Schedules Conference Call to Discuss Macro Events Affecting the Energy Sector and Company Specifics

Magnum Hunter Resources Schedules Conference Call to Discuss Macro Events Affecting the Energy Sector and Company Specifics

January 22, 2015 - 8:04 pm 360 Company Releases

Report: Saudi King Abdullah dies, new ruler is Salman

Story by Reuters

Saudi Arabia’s King Abdullah has died, state television reported early on Friday and his brother Salman became king, it said in a statement attributed to Salman.

King Salman has called on the family’s Allegiance Council to pay …

January 22, 2015 - 6:49 pm Energy News

Spectra Energy to Acquire Brazoria Interconnector Gas Pipeline

Spectra Energy Corp (SE) and Spectra Energy Partners (SEP) today announced that, through their affiliate, Spectra Energy Transmission II, LLC (SET), they have entered into a purchase and sale agreement to acquire from ConocoPhillips Company (…

January 22, 2015 - 6:32 pm Energy News

Apache Announces New Chief Financial Officer

Apache Corporation (NYSE, Nasdaq: APA) announced today Stephen Riney will be appointed as executive vice president and chief financial officer. He is scheduled to begin in February.

Riney brings over 30 years of financial and accounting experience to the position. …

January 22, 2015 - 6:30 pm Energy News
Source: http://www.gazprom.com/press/gallery/events/649250/

Russia Faces More Obstacles than Falling Oil Prices – Part 2

Ни пуха ни пера

Ни пуха ни пера (pronounced: Ni púxa ni perá) is traditionally said to wish someone luck in Russian. Literally, the phrase translates to “no fluff no feathers” and is used the same way people say “break …

January 22, 2015 - 6:24 pm International, Oil and Gas 360 Articles
A Point of Light:  Diamondback Energy’s Offering of 1.75 Million Shares

A Point of Light: Diamondback Energy’s Offering of 1.75 Million Shares

Permian Operator Will Use Equity Proceeds to Pay Debt

While the oil and gas industry is battening down the hatches, issuing bailing buckets to all hands and looking for a solid toehold as forty-six dollar crude oil sloshes under and …

Kinder Morgan Lands Bakken Position with $3 Billion Purchase

Kinder Morgan Lands Bakken Position with $3 Billion Purchase

Richard Kinder to Step Down from CEO Position

Kinder Morgan (ticker: KMI) may have the longest gas pipeline network in North America, but the continent’s third largest energy company (based on enterprise value), surprisingly, did not have a stake in …

January 22, 2015 - 6:20 pm Earnings, Midstream, MLPs, Oil and Gas 360 Articles
ECB Announces €60 Billon per Month Stimulus Plan

ECB Announces €60 Billon per Month Stimulus Plan

The European Central Bank plans to buy government bonds in the hope of stimulating economic growth

Inflation in the Eurozone fell below zero in December, raising speculations that the European Union might be headed towards a deflationary period. In order …

January 22, 2015 - 6:10 pm Finance, International, Oil and Gas 360 Articles
Natural Gas Roundup for the Week Ended January 16, 2015

Natural Gas Roundup for the Week Ended January 16, 2015

NATURAL GAS INVENTORY (Week Ended 1/16/15)roundup2

Current: 2,637 Bcf

Actual Injection/(Withdrawal): (216) Bcf

Economist Average Estimate: (229) Bcf

Previous: 2,853 Bcf

Click here for the chart with five year averages.

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

January 22, 2015 - 5:56 pm Oil and Gas 360 Articles
Crude Oil Cuttings for the Week Ended January 16, 2015

Crude Oil Cuttings for the Week Ended January 16, 2015

CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/16/15)crude_oil_cuttings

Current: 397,853

Actual Build/(Withdrawal): 10,071

Economist Average Estimate: 2,670

Previous: 387,782

Click here for the chart with five year averages.

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


ANALYST COMMENTARY

KLR

January 22, 2015 - 5:47 pm Oil and Gas 360 Articles
Source: EnerCom's Crude Oil Cuttings

Chart of the Week: Crude Inventories at All-Time January High

The crude oil inventory build for the week ended January 16, 2015, was far above the predictions of any industry analyst. In fact, the build is the largest since May 31, 1996, when the Energy Information Administration reported a build …

January 22, 2015 - 3:33 pm Chart of Week, Oil and Gas 360 Articles
Southern Pacific Seeks Creditor Protection

Southern Pacific Seeks Creditor Protection

Southern Pacific becomes first E&P in oil sands to seek creditor protection

Southern Pacific Resource Corp. (ticker: STP), based out of Calgary, Alberta, Canada, announced yesterday that it has obtained creditor protection under the Companies’ Creditors Arrangement Act (CCAA).

CCAA …

January 22, 2015 - 1:47 pm Canada, Oil and Gas 360 Articles, Oil Sands

Blackbird Energy Inc. Announces Appointment of Vice President, Exploration

Blackbird Energy Inc. Announces Appointment of Vice President, Exploration

January 22, 2015 - 6:30 am 360 Company Releases

Elsevier Publishes New Edition of Three-Volume Handbook of Crystal Growth

Elsevier Publishes New Edition of Three-Volume Handbook of Crystal Growth

January 22, 2015 - 4:00 am Uncategorized

Magnum Hunter Resources Reports Year-End 2014 Proved Reserves of 83.8 MMBoe

Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) (NYSE MKT: MHR.PRE) (“Magnum Hunter” or the “Company”) announced today an increase of 16.5 MMBoe or a 25% improvement in the quantity of the Company’s estimated total proved …

January 21, 2015 - 7:25 pm Energy News

Bank of Canada Cuts Rates to Protect Its Hot Housing Market

Story by Bloomberg

Canada’s soaring real estate market survived the 2008 financial crisis with barely a scratch. With a surprise rate cut, Bank of Canada Governor Stephen Poloz is trying to make sure it survives an oil price crash.…

January 21, 2015 - 7:23 pm Energy News
Kinder Morgan Increases Quarterly Dividend to $0.45 Per Share, up 10%

Kinder Morgan Increases Quarterly Dividend to $0.45 Per Share, up 10%

Kinder Morgan, Inc. (NYSE: KMI) today announced that its board of directors approved an increase in its quarterly cash dividend to $0.45 ($1.80 annualized) payable on Feb. 17, 2015, to shareholders of record as of the close of business on

January 21, 2015 - 6:28 pm Energy News

Kinder Morgan to Acquire Premier Midstream Position in Bakken for $3 billion

Kinder Morgan, Inc. (KMI) today announced a definitive agreement whereby KMI will acquire Hiland Partners (Hiland) from its founder, Harold Hamm, and certain Hamm family trusts, for a total purchase price of approximately $3 billion, including the assumption …

January 21, 2015 - 6:25 pm Energy News

Lonestar Resources, Ltd. Provides Operational Update

Lonestar Resources, Ltd. (ASX: LNR, OTCQX: LNREF) is pleased to provide an update on the Company’s initial successes in its drilling and completion activities in southern Gonzales County, and an update on the Company’s 2014 exit rate production levels.

In …

January 21, 2015 - 6:21 pm Energy News

Magnum Hunter Resources Reports Year-End 2014 Proved Reserves of 83.8 MMBoe

Magnum Hunter Resources Reports Year-End 2014 Proved Reserves of 83.8 MMBoe

January 21, 2015 - 6:11 pm 360 Company Releases
OPEC Head Says Oil will Rebound

OPEC Head Says Oil will Rebound

Speaking in Switzerland, OPEC’s Secretary General said he expects prices to rebound

Abdullah al-Badri, Secretary General of OPEC, expects oil prices will remain low for another month before rebounding, reports CNBC.

Speaking at the World Economic Forum (WEF) in …

January 21, 2015 - 6:08 pm Oil and Gas 360 Articles, OPEC
The Eagle Ford Shale has come a Long Way

The Eagle Ford Shale has come a Long Way

The Energy Information Administration (EIA) released an updated geologic layout of the Eagle Ford Shale this morning, detailing the play’s thickness, footprint, elevation, and initial gas to oil ratios (GORs). The industry, as they do with all shale plays, continues …

January 21, 2015 - 6:01 pm Fracing, Oil and Gas 360 Articles, Politics & Opinions

Lonestar Resources, Ltd. Provides Operational Update

Lonestar Resources, Ltd. Provides Operational Update

January 21, 2015 - 5:41 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 21, 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 21, 2015 - 12:00 pm 360 Company Releases