February 2015 – Page 8 – Oil & Gas 360

Phillips 66 Partners to Acquire Equity Interests in 3 Pipeline Systems for Approximately $1 Billion

February 16, 2015

Phillips 66 Partners LP (PSXP) (the “Partnership”) announced that it has reached agreement with Phillips 66 (PSX) to acquire Phillips 66’s interests in three pipeline systems. The acquisition includes one-third equity interests in the limited liability companies that respectively own the Sand Hills and Southern Hills natural gas liquids (NGL) pipeline systems, and a 19.46 percent equity interest in Explorer

EnerCom’s The Oil & Services Conference™ 13 Primer

February 16, 2015

EnerCom, Inc. is pleased to present its 13th edition of The Oil & Services Conference™ from the Omni Hotel in San Francisco. The two-day affair will feature 34 presentations from E&Ps, OilService providers and industry experts from around the country. The market capitalizations of presenting companies range from $35 million to $4.8 billion. Consider this piece to be your primer

Iraq’s oil exports dip by 14 percent in January

February 13, 2015

From PennEnergy: BAGHDAD (AP) — Iraq’s Oil Ministry said on Thursday that crude exports averaged 2.535 million barrels a day in January, a decrease of nearly 14 percent from the previous month, depriving the nation of badly needed cash both for ongoing military operations against extremists and reconstruction efforts. Last month’s revenues stood at $3.258 billion, based on an average

TransCanada Reports Strong Fourth Quarter and Year-End Financial Results

February 13, 2015

Common Share Dividend Increased Eight Per Cent to $2.08 Per Share Annually CALGARY, ALBERTA–(Marketwired – Feb. 13, 2015) – TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada) today announced net income attributable to common shares for fourth quarter 2014 of $458 million or $0.65 per share compared to $420 million or $0.59 per share for the same period in 2013. For the year ended

EIA: North America Pacing the World in Tight Oil, Shale Gas Development

February 13, 2015

The United States and Canada are the only two countries in the world to commercially produce both shale gas and tight oil, the Energy Information Administration said on February 13, 2015. Two other countries, China and Argentina, are the only other nations to extract resources from shale, but both are exclusively producing one of the two hydrocarbons. Russia and Australia

BLM puts off plans to sell some oil, gas leases in Utah

February 13, 2015

From Island Packet: SALT LAKE CITY — The U.S. Bureau of Land Management is pulling back most oil and gas leases up for sale in culturally rich areas of southeastern Utah. The agency is deferring leasing decisions on 36 of 53 parcels on the auction block around Alkali Ridge and Montezuma Canyon after conservation groups raised concerns the sale could

Integrated Environmental Technologies, Ltd. Closes On Nearly $2 Million Funding

February 13, 2015

LITTLE RIVER, S.C., Feb. 13, 2015 /PRNewswire/ — Integrated Environmental Technologies, Ltd. (OTCBB: IEVM) today announced that it closed on a $1,960,000 financing through the sale of its common stock. The company will use the proceeds from this financing to continue its expansion of its oil and gas operations in the Uinta Basin in Utah and the Permian Basin in

Petrobras Operational HighlightsMonthly crude oil and natural gas production in – Brazil and Abroad

February 13, 2015

Oil and Natural Gas Production in January Petrobras reaches new monthly records in the pre-salt oil production Rio de Janeiro, February 13, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its total domestic oil and natural gas production in January 2015 was 2,661 thousand barrels of oil equivalent per day (boed), averaging about the same as December of last

TransCanada on Keystone XL: “We Continue to Believe It Will be Ultimately Approved”

February 13, 2015

After Six Years, $8 Billion Keystone XL Awaits One Final Signature TransCanada Moving Ahead with $6 Billion in Other Capital Projects in 2015 Project start-ups may be lower than usual in the revamped commodity market, but TransCanada’s (ticker: TRP) operations are on the upswing. The Calgary-based pipeline company is moving forward with a CA$46 billion capital program through 2020, installing midstream

Canadian Oilsands — the Doorway to Europe Opens

February 13, 2015

For Some Color on this Development, Oil & Gas 360® Interviewed Export Canada Economist Stuart Bergman Earlier this month, the European Parliament decided to reverse an earlier decision that labeled Canadian oilsands crude as “dirty oil,” removing barriers to refiners in the E.U. to import bitumen from Canada. For insight on what this decision means for Canada, Stuart Bergman, Assistant

To Be, or Not To Be… (Hedged)?

February 13, 2015

In EnerCom’s Energy Industry Data and Trends for January 2015, the company examined the impact of hedges on the stock valuations of the companies that hedged versus those that did not. The research looked at companies’ performance over the eight cycles in crude oil commodity prices from January 2007, to December 2014. The chart below illustrates the closing near-month futures price

Capital Spending News

February 13, 2015

Updates from March 3, 2015 include: Anadarko Announces 2015 Capital Program And Guidance – Click for release. Recap: 2015 guidance of $5.4 to $5.8 billion, down roughly 40% from 2014’s total of $9.3 billion. U.S. onshore activity will get the brunt of the pullback, with APC reducing its short-cycle activity by 40% and deferring the completion of 125 wells. Initial production

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