Archive for March, 2015

Future Innovations in Shale Gas

Future Innovations in Shale Gas

The Shale Gas Innovation & Commercialization Center announced the 14 finalists for this year’s shale gas innovation contest. Four of the finalists will be selected as winners and receive $25,000 each to help develop their ideas. The fourteen finalists are:…

March 31, 2015 - 6:51 pm Oil and Gas 360 Articles

BP terminates Gulf of Mexico rig contracts as low oil prices bite

Source: Economic Times

BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices.

Offshore drilling company Ensco said it had received notice …

March 31, 2015 - 6:48 pm Energy News

Petrobras Kicks off $13.7 billion Divestment Plan with Sale of Argentina Assets

Source: Petrobras

Petrobras announces that the Board of Directors of Petrobras Argentina (PESA) has approved to dispose of all of its assets located in the Austral Basin, in the Santa Cruz province, for US$ 101 million to Compañia General de

March 31, 2015 - 6:46 pm Energy News
OPEC Production Highest Since Last October

OPEC Production Highest Since Last October

OPEC production is at a 2015 high largely due to Saudi Arabia and Iraq

OPEC supply for the month of March 2015 reached 30.63 MMBOPD from a revised 30.07 MMBOPD in February, according to a survey based on shipping data …

March 31, 2015 - 6:44 pm Oil and Gas 360 Articles, OPEC

Kosmos Energy Announces Redetermination of Borrowing Base

Kosmos Energy Ltd. (“Kosmos”) (KOS) announced today that the borrowing base under its reserves-based lending facility has remained unchanged at $1.5 billion following its lenders’ semi-annual redetermination process. For the first time, the borrowing base calculation includes value …

March 31, 2015 - 6:41 pm Energy News

Sanchez Energy Announces Sale of Non-Core Producing Assets to Sanchez Production Partners

Sanchez Energy Corporation (NYSE: SN or the “Company”) today announced that it has executed and closed an agreement with Sanchez Production Partners LP (NYSE MKT: SPP) to sell wellbore and certain associated interests in certain producing oil and gas wells …

March 31, 2015 - 6:37 pm Energy News
Study: Fracing not Responsible for Methane in Drinking Water

Study: Fracing not Responsible for Methane in Drinking Water

Syracuse University study: fracing does not affect methane levels in drinking water

In a new study that examined 11,309 drinking water wells, researchers at Syracuse University in New York discovered that background levels of methane in the water are …

March 31, 2015 - 6:36 pm Fracing, Oil and Gas 360 Articles

ZaZa Energy Reports 2014 Year-End Financial and Operational Results

ZaZa Energy Corporation (the “Company” or “ZaZa”) (ZAZA) today announced results for the year ended December 31, 2014.

2014 Financial Highlights

  • Total production of 231.6 Mboe as compared to 131.3 Mboe in 2013, a 76.7% increase.
  • Proved reserves
March 31, 2015 - 6:35 pm Energy News

Pacific Energy Development Announces Year-End 2014 Results With Significant Increase in Revenues, Production and Reserves

PEDEVCO Corp. d/b/a Pacific Energy Development (NYSE MKT: PED) (the “Company”) reported year-end results today with significant increases in revenues, production and reserves.

Year-End 2014 Results Compared to Year-End 2013 Results:

  • Revenue increased over 3x to $5.1 million in
March 31, 2015 - 6:33 pm Energy News

Acorn Energy Announces Fiscal Year 2014 Results

Acorn Energy, Inc. (ACFN), an energy technology holding company, today announced its results for the fiscal year ended December 31, 2014.

For 2014, revenues from continuing operations were $19.6 million compared to $20.3 million in 2013.  The net …

March 31, 2015 - 6:32 pm Energy News
Delek Logistic Partners Completes Purchase of Rail and Storage Assets

Delek Logistic Partners Completes Purchase of Rail and Storage Assets

Delek Logistics Partners Completes Purchase of Rail Offloading Racks and Crude Oil Storage Tank

Delek Logistics Partners, LP (DKL) (“Delek Logistics”) announced that subsidiaries of Delek Logistics have acquired, from subsidiaries of Delek US Holdings, Inc. (DK

March 31, 2015 - 6:12 pm MLPs

Sanchez Energy Announces Sale of Non-Core Producing Assets to Sanchez Production Partners

Sanchez Energy Announces Sale of Non-Core Producing Assets to Sanchez Production Partners

March 31, 2015 - 6:00 pm 360 Company Releases

Blackbird Energy Inc. Announces Executive Changes and the Release of Q2 2015 Financial and Operating Results

Blackbird Energy Inc. Announces Executive Changes and the Release of Q2 2015 Financial and Operating Results

March 31, 2015 - 5:28 pm 360 Company Releases
Williams Seeks FERC Approval on Pipeline Expansion

Williams Seeks FERC Approval on Pipeline Expansion

Williams Seeks FERC Approval for Atlantic Sunrise Pipeline Expansion to Serve Growing Demand for Natural Gas in Mid-Atlantic and Southeastern U.S.

Williams (WMB) announced today that Transco has filed an application with the Federal Energy Regulatory Commission (FERC) …

March 31, 2015 - 12:48 pm MLPs
Source: theiet.org

‘Flood’ of Oil from Iran may be more of a Trickle

With the deadline for peace talks fast approaching, the actual amount of Iranian oil that could reach markets may not be the torrent some predict

The March 31 deadline for a nuclear deal with Tehran has arrived, and the market …

Rex Energy Announces Joint Venture Agreement in Butler Operated Area, Re-Determined Borrowing Base and Amendment to Credit Facility

  • Joint venture agreement in Moraine East Area and Legacy Butler Operated Area
  • Operating capital expenditures reduced by ~30%
  • New senior secured leverage covenant of 3.0x with total leverage covenant removed

STATE COLLEGE, Pa., March 31, 2015 (GLOBE NEWSWIRE) — Rex …

March 31, 2015 - 10:30 am Energy News

Evolution Petroleum Provides Operations Update

Evolution Petroleum Corporation (NYSE MKT: EPM) today provided an update on operations and litigation.

Operations

As previously projected, the operator of the Delhi Field has decreased CO2 purchases to a February rate of approximately 101 million cubic feet per

March 31, 2015 - 10:21 am Energy News

CAMAC Energy Concludes Oyo-8 Completion Operations

CAMAC Energy Inc. (“CAMAC” or “the Company”) (NYSE MKT:CAK) announced today it has finished completion operations on the Oyo-8 well, located offshore Nigeria, and is now ready to commence oil production.

Oyo-8 is hooked up to the FPSO Armada Perdana

March 31, 2015 - 10:18 am Energy News

CAMAC Energy Concludes Oyo-8 Completion Operations

CAMAC Energy Concludes Oyo-8 Completion Operations

March 31, 2015 - 8:00 am 360 Company Releases

Range Announces Conference Call to Discuss First Quarter 2015 Financial Results

Range Announces Conference Call to Discuss First Quarter 2015 Financial Results

March 31, 2015 - 6:00 am 360 Company Releases

Reuters: Morgan Stanley to sell natural gas business scrutinized by Fed

Story by Reuters

Morgan Stanley has agreed to sell a compressed natural gas business that came under regulatory scrutiny shortly after its launch last year, according to a document obtained by Reuters and three people familiar with the matter.

The …

March 30, 2015 - 6:50 pm Energy News

Enterprise Announces CEO Creel to Retire Year End 2015

Enterprise Products Partners L.P. (EPD) today reported that Michael A. Creel, chief executive officer of Enterprise’s general partner, has announced his intention to retire as of December 31, 2015. A.J. “Jim” Teague, Enterprise’s chief operating officer, has been …

March 30, 2015 - 6:48 pm Energy News

The global oil price drop may last for the next couple decades, Stanford economist says

A Stanford Report

Stanford economist Frank Wolak says the drop in oil prices and demand reflects heightened energy production in North America, better technologies and the declining market power of the OPEC countries

Factors such as domestic oil production, improved …

March 30, 2015 - 6:46 pm Energy News

PetroQuest Energy Provides Update On Borrowing Base Re-determination

PetroQuest Energy, Inc. (PQ) announced today that the Company’s bank group has completed its semi-annual re-determination of its borrowing base under its credit facility.  As a result, the Company’s $220 million borrowing base has been revised to $190 …

March 30, 2015 - 6:37 pm Energy News
Source: Rosneft

Report Urges Development of Arctic Assets

A report filed by the National Petroleum Council encourages the U.S. to develop Arctic energy reserves

The National Petroleum Council (NPC) recently concluded a study at the behest of the United States’ Department of Energy about potentially tapping oil and …

March 30, 2015 - 6:37 pm Arctic, Offshore, Oil and Gas 360 Articles

VAALCO Energy Provides Update On Operations Offshore Angola

VAALCO Energy, Inc. (EGY) today announced that the post-salt Kindele-1 well, its first exploration well on Block 5 offshore Angola, was drilled to a total vertical depth of approximately 1,829 meters. The objective reservoir, the Mucanzo sand formation in the …

March 30, 2015 - 6:36 pm Energy News
Breitburn Energy Receives $1 Billion Investment Following Borrowing Base Adjustment

Breitburn Energy Receives $1 Billion Investment Following Borrowing Base Adjustment

Breitburn Energy Partners (ticker: BBEP), a master limited partnership (MLP) E&P with operations throughout the United States, announced a $1 billion investment from EIG Global Energy Partners (EIG) in a press release on March 29, 2015. The agreements include …

Approved: Hydraulic Fracturing Allowed under Ohio River

Approved: Hydraulic Fracturing Allowed under Ohio River

The West Virginia Department of Commerce will allow hydraulic fracturing under the Ohio River, according to reports from local media outlets. The state had previously leased out about 474 acres of land in Marshall and Wetzel counties and retains a …

PetroQuest Energy Provides Update On Borrowing Base Re-determination

PetroQuest Energy Provides Update On Borrowing Base Re-determination

March 30, 2015 - 5:00 pm 360 Company Releases
M&A Update: Oilservice Majors

M&A Update: Oilservice Majors

Oilservice majors Halliburton and Baker Hughes shareholders approve merger

Halliburton (ticker: HAL) announced that its stockholders approved HAL’s proposal to issue shares of Halliburton common stock as contemplated by its merger agreement with Baker Hughes (ticker: BHI). Baker Hughes announced …