February 2015 – Page 7 – Oil & Gas 360

Rosneft: Canada Oil in “Near-Death Situation” after PM Harper Imposes New Sanctions on Russia

February 19, 2015

Canadian Prime Minister Stephen Harper imposed new sanctions on Russia this week, including on Rosneft Stephen Harper’s government announced Tuesday the expansion of sanctions against Russia for its involvement in Ukraine. The expanded sanctions target Russia’s largest oil producer, Rosneft (ticker: RNFTF), as well as Rostec, which encompasses weapons, cars and metals. Canada had previously resisted sanctioning both companies because

Explosion at Exxon LA-area refinery, gas prices spike

February 18, 2015

Story by CNBC An explosion and fire ripped through a gasoline processing unit at anExxon Mobil refinery in Torrance, California, near Los Angeles on Wednesday, slightly injuring four workers and shattering windows of surrounding buildings, authorities said. Exxon confirmed that there had been an “incident” at the refinery but it did not offer further details. It said emergency procedures had

Samson Oil & Gas Advisory

February 18, 2015

Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN): TOTAL COMPANY PRODUCTION Samson’s net monthly production for the December 2014 quarter and for January 2015 was as follows: October November December January OIL, BO 6,591 17,619 18,906 15,221 GAS, MCF 11,861 9,363 12,102 15,384 BOE 8,567 19,180 20,923 17,785 BOEPD 285 618 675 574 January production was lower than

Harvest Natural Resources Receives Continued Notice Listing From NYSE

February 18, 2015

Harvest Natural Resources, Inc. (NYSE: HNR) (Harvest or the Company) today announced that on February 13, 2015, the Company received notification from the New York Stock Exchange(NYSE) that the Company had fallen below the NYSE’s continued listing standard, which requires a minimum average closing price of $1.00 per share over 30 consecutive trading days. Under the NYSE’s rules, Harvest has

Russia Ready to Consider Alternatives to South Stream

February 18, 2015

President Putin to explore alternatives to South Stream with the E.U. Russia is ready to discuss alternative options to South Stream with its European Union partners, says President Vladimir Putin. The Russian president said his country was not trying to punish its E.U. partners by deciding to stop the project, and is open to alternatives, but will not abandon cooperation

Ohio Supreme Court Upholds State’s Supremacy in Drilling Regulations

February 18, 2015

The Ohio Supreme Court rules that regulating oil and gas drilling is up to the state, not local authorities In a 4-3 decision with three written dissents, the Ohio Supreme Court has decided that certain local zoning laws aimed at limiting hydraulic fracturing cannot be used to circumvent state’s authority over oil and gas drilling. The court said that the

SandRidge Energy, Inc. Bolsters Senior Management Team; Names Veteran Executive as Chief Operating Officer

February 17, 2015

SandRidge Energy, Inc. (SD) announced today the appointment of Steve Turk to the role of Executive Vice President and Chief Operating Officer, effective March 2, 2015. Mr. Turk comes to SandRidge with more than 30 years of experience in the exploration and production industry, at both private and publicly held companies, including having most recently served as Chief Operating Officer

Cenovus announces $1.5 billion bought-deal common share financing

February 17, 2015

Cenovus Energy Inc. (CVE) (CVE) (“Cenovus”) announced today that it has entered into a bought-deal financing agreement to sell 67.5 million common shares (“Common Shares”) at a price of $22.25 per share (the “Offering”). The net proceeds of the Offering, combined with the company’s $3 billion of undrawn committed credit lines, provide Cenovus with a stronger balance sheet and financial

Reuters: Chesapeake alleges founder McClendon stole ‘trade secrets’ to start new firm

February 17, 2015

Story by Reuters Chesapeake Energy Corp filed suit Tuesday alleging that its founder and former chief executive, Aubrey K. McClendon, stole confidential company data during his last months on the job in order to launch his new oil and gas empire. McClendon, 55, “misappropriated highly sensitive trade secrets from Chesapeake” and “subsequently used these trade secrets for the benefit of” a company

Bear Head LNG Clears Hurdle in Further Development

February 17, 2015

The CEAA gives the go-ahead on construction of a LNG plant in Nova Scotia Liquid Natural Gas Limited’s (ticker: LNGLY; LNG Ltd.) Bear Head LNG facility has received a green light from the Canadian Environmental Assessment Agency (CEAA). The CEAA concluded the proposed design will be substantially the same as that which was previously submitted and approved under the Canadian

BP Energy Outlook: United States “Likely” to be Self-Sufficient in Oil by 2030s

February 17, 2015

BP Energy (ticker: BP) released its latest edition of the 2035 Energy Outlook on February 17, 2015, complete with supporting materials, a press release and a webcast. The landing page of the report can be accessed by clicking here. BP stopped short of calling its projections a “crystal ball,” but says we can expect the following events to occur by

Occidental Agrees to Two Year $500 Million Exploration Project in Abu Dhabi

February 16, 2015

Occidental will have a 30% share in an offshore exploration deal in Abu Dhabi Occidental Petroleum (ticker: OXY) has agreed to a $500 million, two year offshore exploration deal in Abu Dhabi. OXY was one of eleven international oil companies invited to bid for rights to develop Abu Dhabi’s assets in 2012, reports Bloomberg. Occidental will work with state-owned Abu

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