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. The central bank cut its benchmark interest rate a quarter of a percentage point to 0.75 percent on Wednesday, an unexpected
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 Feb. 2, 2015. This represents a 10 percent increase over the fourth quarter 2013 dividend of $0.41 per share ($1.64
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 of debt. Hiland’s assets, which are mostly fee based, consist of crude oil gathering and transportation pipelines and gas gathering and processing systems,
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 Quarterly Report for its third quarter 2014, Lonestar projected a 2014 exit rates of 6,500 to 7,000 BOEPD. Lonestar disclosed
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 to progress in unlocking the “code” of the Eagle Ford. The sprawling South Texas field has transformed from an emerging
To say Houston’s Harvest Natural Resources (ticker: HNR) has been frustrated by the government of Venezuela is an understatement. On Jan. 15, Harvest submitted a request for international arbitration against the sovereign nation. After years of fruitless negotiations with Venezuela for owed oil production revenue and past dividend payments, and more recently for apparently squashing the sale of Harvest’s interest
The CIBC maintains a bearish outlook on gas prices as weather remains warmer than last year The Canadian Imperial Bank of Commerce (CIBC) released its outlook on gas today, continuing to hold its bearish stance on the commodity’s future. The major factor determining the future price and inventories of gas, according to CIBC, is the weather. With the incredibly cold
Synergy Resources Corporation (NYSE MKT: SYRG) (“Synergy” or the “Company”), a U.S. oil and gas exploration and production company with operations focused in the Greater Wattenberg Area in the D-J Basin, announces that it has entered into a day rate drilling contract with Ensign Drilling Company of North America (Ensign). Ensign is preparing to spud the first of eleven wells at the Company’s
Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced it has entered into a definitive agreement to acquire Harvey E. Yates Company (“HEYCO”), a subsidiary of HEYCO Energy Group, Inc., including certain oil and natural gas producing properties and undeveloped acreage located in Lea and Eddy Counties, New Mexico. HEYCO, headquartered in Roswell, New Mexico, is privately owned
Two oilservice giants standing tall in face of downturn The oil and gas industry may be bracing for a downturn in drilling operations, but Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) are entering 2015 on the heels of one of the finest years in each company’s respective history. Discussions for the merger are continuing as planned and are expected
Two new pipelines opened last week allowing more Canadian crude to reach refineries in Texas Canadian Premier for Alberta, Jim Prentice, and the Canadian minister for natural resources, Greg Rickford, were both in Texas last Friday celebrating the opening of two new pipelines transporting crude oil from Canada to the Gulf of Mexico. The two pipelines, the Seaway pipeline and
Russia receives downgrade Moody’s Investors Service announced last week that it was downgrading the outlook for the government of Russia’s debt rating to Baa2 from Baa1, putting Russia’s rating just one notch above a junk rating. Moody’s also maintains a negative outlook for the future of Russia’s ratings. According to the release put out by Moody’s, the main reasons for
