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. Ngamia-5 was drilled to a final depth of 2,317 meters (7,602 feet) where it encountered between 160 and 200 meters (535
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 allegiance to Muqrin as his crown prince and heir. “His Highness Salman bin Abdulaziz Al Saud and all members of
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 (COP) 100 percent of the equity interests in Brazoria Interconnector Gas Pipeline, LLC (BIG), which owns the BIG Pipeline. The BIG Pipeline is a 42-inch
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. He joins Apache following a distinguished career at BP, plc. where he worked following the merger with Amoco in 1998.
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 a leg” to wish someone bad luck when really they hope things go well. While the phrase is believed to
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 around it, North American shale player Diamondback Energy (ticker: FANG) is a point of light. The company zoomed to the market yesterday
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 the Williston Basin. That is, until yesterday. The midstream giant entered the Bakken with the $3.0 billion purchase of Hiland
NATURAL GAS INVENTORY (Week Ended 1/16/15) 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. ANALYST COMMENTARY KLR Group Storage overview The EIA reported a 216 Bcf storage draw, 4 Bcf below our 220 Bcf estimated
CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/16/15) 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 Group Thesis (as of January 13, 2015) We expect Brent/NYMEX $62.50/$57.50 oil prices this year and $85/$80 next year. In our view, the negative
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 protection prevents creditors and others from enforcing rights against the company and affords STP the opportunity to restructure its financial
Elsevier Publishes New Edition of Three-Volume Handbook of Crystal Growth
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 oil, natural gas and natural gas liquids reserves at December 31, 2014, compared with total proved reserves at December 31,
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