January 2015 – Page 6 – Oil & Gas 360

Schlumberger Announces Increases to Revenues, Dividends in Q4’14 Results

January 19, 2015

Schlumberger kicks off earnings season with increased revenue and dividends Schlumberger (ticker: SLB) released its fourth-quarter and full-year 2014 results on January 15, showing year-over-year revenue growth and announcing a 25% increase to dividends. The company said revenue growth was fueled largely by performance in North America where revenue grew 16%. The company’s Middle East & Asia operations increased by

North Sea Project Begins Production

January 19, 2015

Det Norske announced today first production from offshore of Norway Det Norske Oljeselskap ASA, in partnership with Core Energy AS and Lundin Norway AS (ticker: LUPE) announced the production of first oil from their offshore project in the Bøyla field. The Bøyla field is the fourth field in production in the larger Alvheim area. The company said in its release

A Point of Light: Core Lab Increases Quarterly Dividend

January 16, 2015

On January 12, Core Laboratories N.V. (ticker: CLB) announced that it would increase the cash dividend on its common shares to $0.55 per share. The dividend represents a 10% increase and will be payable on February 20, 2015, to shareholders of record January 23, 2015. With operations in 50 countries — essentially working in every major oil-producing province in the

NGP Launches 11th Energy Private Equity Fund with $5.325 Billion

January 16, 2015

Cash is Flowing into North American Oil and Gas Industry: OAG360 Exclusive Interview with Ken Hersh “We operate with a very wide and blank canvas.” – Ken Hersh, CEO, NGP Energy Capital Management Ken Hersh, CEO and co-founder, NGP Energy Capital Management Raising capital to fund North American energy companies has been NGP Energy Capital Management’s bread and butter since

BP’s fine for 2010 oil spill capped at $13.7 billion

January 16, 2015

Story by Reuters BP Plc (BP.L) will face a maximum fine of $13.7 billion under the Clean Water Act for its Gulf of Mexico oil spill, several billion dollars less than feared, after a judge ruled that it was smaller than the U.S. government claimed. The ruling by federal magistrate Carl Barbier put the size of the worst offshore spill

Enterprise says Seaway Twin running at around half capacity

January 16, 2015

Story by Reuters Enterprise Products Partners said on Friday its Seaway Twin pipeline may not run at full capacity for the time being on low oil prices. It is running at 200,000-250,000 barrels per day (bpd) now, versus capacity of 450,000 bpd, Enterprise COO Jim Teague said. The line connects to Enbridge’s Illinois-to-Oklahoma Flanagan South and is part of a

Acorn Energy Announces Receipt of Nasdaq Notice of Bid Price Deficiency

January 16, 2015

Acorn Energy Announces Receipt of Nasdaq Notice of Bid Price Deficiency

Colorado Energy Overhaul Bill Achieves Final Passage, Heads to Governor Polis - Oil & Gas 360

Balance Sheet an Asset for these Small-Mid Cap E&Ps

January 15, 2015

Earnings season is approaching, and balance sheets will carry more weight than they have in years. The oil price slide has resulted in a much greater debt to market cap percentage across the oil and gas sphere. In EnerCom’s E&P Weekly for the period ended September 26, the median debt/market cap percentage was 40%. In the latest edition for the

Schlumberger Announces Full-Year and Fourth-Quarter 2014 Results

January 15, 2015

Schlumberger Limited (SLB) today reported results for the full-year and fourth-quarter 2014. Full-year results are shown in the table below. Full-Year Results (Stated in millions, except per share amounts) Twelve Months Ended Growth Dec. 31, 2014 Dec. 31, 2013 Year-on-year Revenue $ 48,580 $ 45,266 7 % Pretax operating income 10,576 9,344 13 % Income from continuing operations, excluding charges

Encana Completes Sale of Its Clearwater Assets for C$605 Million

January 15, 2015

Encana Corporation (Encana) has completed the previously announced sale of certain Clearwater assets in Alberta to Ember Resources Inc. for a purchase price of approximately C$605 million. The sale includes about 1.2 million net acres of land, over 6,800 producing wells and approximately 180 million cubic feet equivalent per day (mmcfe/d) of natural gas production. “We enter 2015 focused on

Range Resources Reserves Increase 26%

January 15, 2015

The company announced today large increases to its reserves Range Resources (ticker: RRC) announced today that the company’s proved reserves have increased to 10.3 trillion cubic feet equivalent (Tcfe), an increase of 26%. In its press release, RRC also said it replaced 581% of production in 2014 from drilling. In EnerCom’s E&P Weekly for the week ended January 9, 2015,

Bam! It’s Earnings Season Again – Q4’14 Estimates

January 15, 2015

EnerCom, Inc. compiled fourth quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 200 E&P and OilService companies in our database. Click here for the full chart of estimates. The median OilServices company earnings estimate for the quarter ending December 31, 2014, is $0.37 per share compared to actual earnings per share of $0.27 and

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