Archive for February, 2015

Martin Midstream to Sell NGL Barges

Martin Midstream to Sell NGL Barges

Martin Midstream Partners (ticker: MMLP) announced yesterday that it entered into an agreement to sell six liquefied natural gas barges for a total price of $41.25 million. MMLP has decided to exit the natural gas liquids floating storage and trans-loading …

February 6, 2015 - 6:06 pm Midstream, Oil and Gas 360 Articles
Saudi Cuts Prices in Asia (Again) to Defend Market Share

Saudi Cuts Prices in Asia (Again) to Defend Market Share

OPEC’s biggest producer prices oil at record lows to the Asian market, raises rates in the U.S. and Europe

Saudi Aramco announced its prices for March, dropping prices to the Asian markets to their lowest in over a decade in …

February 6, 2015 - 4:15 pm International, Oil and Gas 360 Articles

CORRECTION – Elsevier Wins 10 PROSE Awards Including Best eProduct Application: Virtual Microscope

CORRECTION – Elsevier Wins 10 PROSE Awards Including Best eProduct Application: Virtual Microscope

February 6, 2015 - 8:26 am Uncategorized

Bellatrix to present at the upcoming 2015 NBF Energy Conference and announces updated commodity risk management contracts

Bellatrix to present at the upcoming 2015 NBF Energy Conference and announces updated commodity risk management contracts

February 6, 2015 - 7:30 am 360 Company Releases

Emerald Oil, Inc. Announces Pricing of Public Offering of Common Stock

Emerald Oil, Inc. Announces Pricing of Public Offering of Common Stock

February 6, 2015 - 7:00 am 360 Company Releases

Elsevier Wins 10 PROSE Awards Including Best eProduct Application: Virtual Microscope

Elsevier Wins 10 PROSE Awards Including Best eProduct Application: Virtual Microscope

February 6, 2015 - 4:00 am 360 Company Releases
Core Laboratories Draws on Experience to Navigate New Market

Core Laboratories Draws on Experience to Navigate New Market

Projecting oil recovery within fiscal year

Core Laboratories (ticker: CLB) closed the book on 2014 as its most profitable year in company history in its Q4’14 earnings release on January 28, 2015. Revenue for fiscal 2014 was $1,085 million, up …

February 5, 2015 - 7:52 pm Earnings, Oil and Gas 360 Articles, Oilfield Services
Callon Petroleum Fitting the Role of a Low-Cost Permian Producer

Callon Petroleum Fitting the Role of a Low-Cost Permian Producer

An Exclusive Interview with CPE’s CEO Fred Callon

Callon Petroleum (ticker: CPE) became a pure-play Permian Basin E&P no more than one year ago, but its efficiency in the United States’ greatest oil producing play is apparent. In a news …

Many oil firms plan no North Dakota layoffs despite cheap oil

Story by Reuters

Halliburton, Statoil ASA, Hess Corp and other North Dakota energy companies have decided, for now, not to lay off staff in the No. 2 U.S. oil producing state, hoping to be prepared for any prolonged rebound in …

February 5, 2015 - 7:27 pm Uncategorized

SEC Closes Inquiry of LINN Energy

LINN Energy, LLC (LINE) (“LINN”) and LinnCo, LLC (LNCO) (“LinnCo” and together with LINN, the “Company”) announced today that the Fort Worth Regional Office of the Securities and Exchange Commission (“SEC”) has formally notified LINN that …

February 5, 2015 - 7:19 pm Energy News

Bristow Group Reports Financial Results for its 2015 Fiscal Third Quarter and Nine Months Ended December 31, 2014

– THIRD QUARTER GAAP NET LOSS OF $1.0 MILLION ($0.03 LOSS PER DILUTED SHARE) AND NINE MONTH GAAP NET INCOME OF $69.2 MILLION ($1.94 PER DILUTED SHARE)
– THIRD QUARTER AND NINE MONTH ADJUSTED NET INCOME OF $24.7 MILLION ($0.70 …

February 5, 2015 - 7:16 pm Energy News, Uncategorized

Emerald Oil, Inc. Launches Public Offering of Common Stock

DENVER, CO — (Marketwired) — 02/05/15 — Emerald Oil, Inc. (NYSE MKT: EOX) (“Emerald” or the “Company”) announced today the launch of an underwritten public offering of $25,000,000 of the Company’s common stock, subject to market conditions. The Company has …

February 5, 2015 - 5:29 pm 360 Company Releases

Emerald Oil, Inc. Launches Public Offering of Common Stock

Emerald Oil, Inc. Launches Public Offering of Common Stock

February 5, 2015 - 4:55 pm 360 Company Releases
Natural Gas Roundup for the Week Ended January 30, 2015

Natural Gas Roundup for the Week Ended January 30, 2015

roundup21NATURAL GAS INVENTORY (Week Ended 1/30/15)

Current: 2,428 Bcf

Actual Injection/(Withdrawal): (115) Bcf

Economist Average Estimate: (120) Bcf

Previous: 2,543 Bcf

Click here for the chart with five year averages.

Click here for an archive of EnerCom’s Inventory Reports.…

February 5, 2015 - 3:12 pm Commodity Pricing, Oil and Gas 360 Articles
S&P Downgrades Russian Oil and Gas Companies, China’s Rating Agency Disagrees

S&P Downgrades Russian Oil and Gas Companies, China’s Rating Agency Disagrees

‘The Big Three’ have all downgraded Gazprom, but China’s Dagong ratings agency recently issued the company its highest rating

Standard & Poor’s rating agency today downgraded Russia’s state-owned oil and gas giant Gazprom (ticker: OGZPY) and a number of other …

February 5, 2015 - 2:27 pm International, Oil and Gas 360 Articles

Callon Petroleum Company Reports 121% Increase in Estimated Total Proved Reserves and Announces 2015 Operational Plan

Callon Petroleum Company Reports 121% Increase in Estimated Total Proved Reserves and Announces 2015 Operational Plan

February 5, 2015 - 7:30 am 360 Company Releases

SandRidge Energy, Inc. Appoints Industry Veteran, J. Mike Stice to Board of Directors; Announces Resignation of Roy T. Oliver, Jr.

SandRidge Energy, Inc. Appoints Industry Veteran, J. Mike Stice to Board of Directors; Announces Resignation of Roy T. Oliver, Jr.

February 5, 2015 - 7:00 am 360 Company Releases

Elsevier Now Adding eBooks to CLOCKSS Archiving

Elsevier Now Adding eBooks to CLOCKSS Archiving

February 5, 2015 - 4:00 am 360 Company Releases

Noble Corporation plc Reports Fourth Quarter And Full Year 2014 Results, Announces Retirement Of Three Rigs

Noble Corporation plc (NE) today reported a fourth quarter 2014 loss from continuing operations of $595 million, or $2.38 per diluted share. Results for the quarter included an after-tax charge of $713 million, or $2.86 per diluted share,

February 4, 2015 - 6:54 pm Energy News

Petrobras’ CEO Foster, Five other Executives Resign

Story by Reuters

The chief executive and other senior management at Brazil’s Petrobras resigned on Wednesday amid a festering corruption scandal, setting off a scramble to find replacements capable of restoring investor confidence in the state-run oil company.

The company’s …

February 4, 2015 - 6:44 pm Uncategorized
Proposed Federal Budget Seeks to Eliminate $45.5 Billion in ‘Oil and NatGas Preferences’ Over the Next Decade

Proposed Federal Budget Seeks to Eliminate $45.5 Billion in ‘Oil and NatGas Preferences’ Over the Next Decade

Congressional Republicans have already called the proposed budget a political non-starter

President Obama released his proposed federal budget, asking Congress to eliminate billions of dollars in tax breaks to the oil and gas industry in order to fund a …

February 4, 2015 - 6:38 pm Oil and Gas 360 Articles, Politics & Opinions
Crude Oil Cuttings for the Week Ended January 30, 2015

Crude Oil Cuttings for the Week Ended January 30, 2015

crude_oil_cuttingsCRUDE OIL INVENTORY/’000 bbls (Week Ended 1/30/15)

Current: 413,060

Actual Build/(Withdrawal): 6,333

Economist Average Estimate: 3,940

Previous: 406,727

Click here for the chart with five year averages.

Click here for an archive of EnerCom’s Inventory Reports.


ANALYST COMMENTARY

KLR

February 4, 2015 - 6:21 pm Oil and Gas 360 Articles
New Discovery Off the Coast of Brazil

New Discovery Off the Coast of Brazil

Chairman of India’s Videocon says new discovery will be one of the lowest cost wells in the world

A consortium that includes a 50:50 joint venture between Bharat Petroleum (ticker: PBCL) and Videocon Industries (ticker: VIDEOIND), and Brazilian oil major …

February 4, 2015 - 5:39 pm International, Offshore, Oil and Gas 360 Articles
First Quebec Horizontal Oil Well can Withstand Prices – Junex

First Quebec Horizontal Oil Well can Withstand Prices – Junex

Canadian oil company Junex says their new horizontal well is commercial, even at today’s oil prices

Quebec oil and gas company Junex (ticker: JNX) announced earlier this week that it plans to restart production of its Galt No. 4 horizontal …

February 4, 2015 - 5:15 pm Canada, Oil and Gas 360 Articles
Colorado Oil and Gas Taskforce Votes for More Local Control

Colorado Oil and Gas Taskforce Votes for More Local Control

CORRECTION: The taskforce’s meetings this week decided which proposals will continue on to the next taskforce meeting. None of the proposals have been sent to the governor for consideration at this time.

Last September, Gov. John Hickenlooper created an oil …

February 4, 2015 - 5:04 pm Oil and Gas 360 Articles, Regulatory
UPDATE: U.S. Oil Refinery Strikes

UPDATE: U.S. Oil Refinery Strikes

Negotiations have resumed between Shell and union leaders

Negotiations resumed today between Royal Dutch Shell and union leaders as they work to solidify a new contract for workers at 72 oil refineries around the United States. Starting Sunday, the United …

February 4, 2015 - 3:20 pm Oil and Gas 360 Articles
Banks Easing Lending Practices, Expect Good Loan Performance in 2015: Fed Survey

Banks Easing Lending Practices, Expect Good Loan Performance in 2015: Fed Survey

A Federal Reserve Board survey of senior loan officers on bank lending practices found that, over the last three months, credit standards for approving applications for commercial and industrial (C&I) loans or credit lines have eased in many cases. Of …

February 4, 2015 - 10:40 am Oil and Gas 360 Articles

Emerald Oil Provides 2014 Fourth Quarter Average and Exit Rate Production, 2014 Proved Reserves, and Operations Update

Emerald Oil Provides 2014 Fourth Quarter Average and Exit Rate Production, 2014 Proved Reserves, and Operations Update

February 4, 2015 - 8:30 am 360 Company Releases
Stifel: These Factors are Contributing to an Oil Price Recovery

Stifel: These Factors are Contributing to an Oil Price Recovery

Oil traders experienced a moral victory today, witnessing West Texas Intermediate (WTI) close at $52.13 – the highest since January 5, 2015. The spot price has rebounded 17% in less than a week, dating back to the closing of $44.45 …

Gran Tierra Energy Announces 2014 Year-End Reserves

Peru Reserves to be Adjusted Downward Following Negative Well Results After Year-end; Oil Reserves in Colombia and Brazil Increase After Producing 9.1 MMbbl (Working Interest) Oil in 2014

Gran Tierra Energy Inc. (“Gran Tierra Energy“) ()GTE; …

February 3, 2015 - 6:37 pm Energy News