Story by CNBC Commentary by Brenda Shaffer, Professor at the University of Georgetown With oil’s price collapse, we can now declare that OPEC’s reign as king of the market is over. However, just as certain is the fact that there is no one to assume the throne. A new oil market and industry are taking shape—and without clear leadership, there
Ensco plc (ESV) announced today that it has priced an underwritten offering of $1.1 billion principal amount of senior unsecured notes consisting of two series: $700 million principal amount of 5.20% senior unsecured notes due 2025 priced at 99.622% of par; and $400 million principal amount of additional 5.75% senior unsecured notes due 2044 priced at 95.335% of par. The
Encana Corporation (“Encana”) (ECA)(ECA) announced today that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets, Credit Suisse and Scotiabank, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 85,616,500 common shares of Encana (the “Shares”) at a price of C$14.60 per Share (the “Offering Price”), for gross
CRUDE OIL INVENTORY/’000 bbls (Week Ended 2/27/15) Current: 444,374 Actual Build/(Withdrawal): 10,303 Economist Average Estimate: 3,888 Previous: 434,071 Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. ANALYST COMMENTARY KLR Group Demand Demand of ~19.7 Mmbpd decreased ~0.6% w/w, though the four-week moving average increased ~120 bps to ~4.6% higher y/y. Gasoline
Reports Quarter-Over-Quarter Production Growth of nearly 30% in Q4’14 Mid-Con Energy Partners (ticker: MCEP), a U.S. E&P master limited partnership (MLP), announced its fourth quarter and full-year 2014 results this week. According to the release, production for fourth quarter 2014 averaged 4,011 BOEPD, an increase of 29.5% sequentially and 57.7% year-over-year. Adjusted EBITDA was $17.8 million, 16.7% more than in
The Senate is unable to override the president’s veto of TransCanada’s (ticker: TRP) Keystone XL pipeline The Senate was unable today to override President Obama’s veto of a bill that would have allowed for the construction of the Keystone XL pipeline. President Obama vetoed the bill last month, saying the legislation “attempts to circumvent longstanding and proven processes for determining
Western Gas Partners Expands Delaware Basin Position Houston based Western Gas Partners (ticker: WES) yesterday announced the acquisition of Anadarko’s (ticker: APC) 50% interest in the Delaware Basin JV (DBJV) gathering system. Williams Companies (ticker: WMB) owns the other 50% of the pipeline and will continue to operate the pipeline. The DBJV assets are located in close proximity to the
