Archive for March, 2015

If species gains the U.S. Fish and Wildlife's recommended "endangered" designation in April, shale, wind energy developers could be affected.

Pending Govt. Designation Could Threaten Areas of NE Shale Development

Comment Period Ends Mar. 17, 2015

Remember the Northern Spotted Owl? It was a bird living in the Pacific northwest that was awarded the U.S. Fish and Wildlife Service’s “Threatened Species” designation in 1990. Vast swaths of timber were classified …

Energy Transfer Partners Announces Pricing of $2.5 Billion of Senior Notes

Energy Transfer Partners Announces Pricing of $2.5 Billion of Senior Notes

Energy Transfer Partners, L.P. (NYSE: ETP) today announced the pricing of $1.0 billion aggregate principal amount of its 4.050% senior notes due 2025, $500 million aggregate principal amount of its 4.900% senior notes due 2035 and $1.0 billion aggregate principal …

March 6, 2015 - 5:43 pm Energy News
Rig Counts Up Internationally, Down in the U.S.

Rig Counts Up Internationally, Down in the U.S.

Baker Hughes rig count report for the week ended March, 6, 2015.

The Baker Hughes (ticker: BHI) rig count for the week ended March 6, 2015, reports a total number of rigs in the United States of 1,192, down …

March 6, 2015 - 5:42 pm Oil and Gas 360 Articles

Sanchez Production Partners: Conversion from Limited Liability Company to Limited Partnership Complete

Pursuant to the Plan of Conversion filed with the Securities and Exchange Commission (SEC), and upon obtaining approval from all classes of unitholders taken at a special meeting of unitholders held on March 6, 2015, Sanchez Production Partners (NYSE MKT: …

March 6, 2015 - 5:39 pm Energy News
U.S. Unemployment Rate Falls to Seven Year Low

U.S. Unemployment Rate Falls to Seven Year Low

Unemployment in the United States has fallen to its lowest levels since 2008, according to data from the Bureau of Labor Statistics. U.S. unemployment fell to 5.5% in the month of February. The last time unemployment was below 5.6% …

March 6, 2015 - 5:37 pm Oil and Gas 360 Articles

Enbridge Optimizes Regional Oil Sands Infrastructure Expansions

CALGARY, ALBERTA–(Marketwired – March 5, 2015) – Enbridge Inc., (TSX:ENB) (NYSE:ENB) announced today plans to optimize a previously announced expansion of its Regional Oil Sands System. The optimization, which has been agreed to with affected shippers, will involve capital cost
March 6, 2015 - 5:34 pm Energy News

EU member states evasive on shale-gas activities

Story by European Voice

The European Commission’s attempts to gain an overview of shale-gas extraction and exploration in the EU have not been greeted enthusiastically by most member states. Asked to provide information about shale-gas activities, many member states submitted …

March 6, 2015 - 5:26 pm Energy News
Colorado Oil Production up 27% in 2014

Colorado Oil Production up 27% in 2014

Numbers from the COGCC shows oil production in Colorado is up 27% year-over-year from 2013

According to the latest data from the Colorado Oil and Gas Conservation Commission (COGCC), oil production in Colorado is up 27% in 2014 from 2013. …

Alberta Yields Two New Condensate and Liquids-Rich Gas Discoveries

Alberta Yields Two New Condensate and Liquids-Rich Gas Discoveries

Blackbird Energy of Alberta Canada announced two ‘significant’ discoveries at Elmworth

Blackbird Energy (ticker: BBI) based in Calgary, Alberta, announced this week that its first two operated horizontal Montney wells on Blackbird’s 69 section land block at Elmworth, Alberta, Canada, …

Source: research.archives.gov

ISIS Sets Fire to Oilfield in Iraq

Islamic State militants targeting wells in the Ajil oilfield

A witness and military source said Islamic State fighters ignited oil wells in the Ajil oil field northeast of the city of Tikrit. The fires were started in the hopes that …

March 6, 2015 - 1:31 pm International, Oil and Gas 360 Articles, OPEC

Magellan Petroleum to Present at the 27th Annual ROTH Conference in Laguna Niguel, CA

Magellan Petroleum to Present at the 27th Annual ROTH Conference in Laguna Niguel, CA

March 6, 2015 - 6:00 am 360 Company Releases
TOP MINDS IN THE BUSINESS:  Bill Barrett Discusses Wildcatting, Finding Prospects, Down Cycle Opportunities and Company Building in a Downturn

TOP MINDS IN THE BUSINESS: Bill Barrett Discusses Wildcatting, Finding Prospects, Down Cycle Opportunities and Company Building in a Downturn

In Part I of this exclusive interview for Oil & Gas 360®’s “Top Minds in the Business” series, legendary oil man Bill Barrett shares his views about wildcatting, his history as a successful wildcatter in the Rocky Mountains and what

March 5, 2015 - 7:15 pm Oil and Gas 360 Articles, Straight Answers, Top Minds
A rig site in North Dakota

U.S. Noncrude Exports Continue Record-Setting Trend

United States exports of noncrude petroleum products increased for the 13th straight year in 2014, the Energy Information Administration said in a report on March 5, 2015. The U.S. averaged 3.8 MMBOPD in 2014 – an increase of approximately …

Energy XXI Gulf Coast, Inc. Prices Upsized Private Offering

Energy XXI Gulf Coast, Inc. Prices Upsized Private Offering

HOUSTON, March 5, 2015 (GLOBE NEWSWIRE) — Energy XXI Gulf Coast, Inc. (the “Company”), the operating subsidiary of Energy XXI Ltd (“Energy XXI”) (Nasdaq:EXXI), today announced that it has priced its private offering to qualified institutional buyers of $1.45 billion …

March 5, 2015 - 7:13 pm Energy News

Canadian Natural keeps 2015 spin-off plan as 4th-quarter profit jumps

From Reuters:

Canadian Natural Resources Ltd, the country’s No. 2 oil and gas producer, said on Thursday it expects to spin off its Western Canada royalty lands this year as it reported unexpectedly strong fourth-quarter results and boosted its dividend.…

March 5, 2015 - 7:09 pm Energy News

Wolf’s budget plan calls for new tax on natural gas industry

From StateImpact:

Following through on his campaign pledge, Governor Wolf made taxing the natural gas industry a central part of his budget proposal Tuesday.

Wolf wants to model it on West Virginia, with a tax on both volume and sales. …

March 5, 2015 - 7:07 pm Energy News

Energy XXI Gulf Coast, Inc. Prices Upsized Private Offering of $1.45 Billion of 11.000% Senior Secured Second Lien Notes Due 2020

Energy XXI Gulf Coast, Inc. Prices Upsized Private Offering of $1.45 Billion of 11.000% Senior Secured Second Lien Notes Due 2020

March 5, 2015 - 5:21 pm 360 Company Releases
Dana Gas Iraq Operations

Libya Declares Force Majeure

Libya’s National Oil Company has declared force majeure on eleven oilfields

Libya’s state-run National Oil Corporation (NOC) declared force majeure on eleven of its oilfields Wednesday due to the deteriorating security situation in the country, reports Reuters. The country’s …

March 5, 2015 - 5:17 pm International, Oil and Gas 360 Articles
Saudi Oil Minister Says Prices Stabilizing

Saudi Oil Minister Says Prices Stabilizing

Ali al-Naimi says that OPEC’s actions are “the correct path forward”

During a speech at the German-Arab Friendship Association in Berlin, Saudi Arabian oil minister Ali al-Naimi said OPEC’s decision to maintain oil production last year is “the correct path …

March 5, 2015 - 5:10 pm International, Oil and Gas 360 Articles, OPEC
Natural Gas Roundup for the Week Ended February 27, 2015

Natural Gas Roundup for the Week Ended February 27, 2015

roundup2NATURAL GAS INVENTORY (Week Ended 2/27/15)

Current: 1,710 Bcf

Actual Injection/(Withdrawal): (228) Bcf

Economist Average Estimate: (224) Bcf

Previous: 1,938 Bcf

Click here for the chart with five year averages.

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

March 5, 2015 - 3:13 pm Oil and Gas 360 Articles

Integrated Environmental Technologies, Ltd. Provides Update On Oil And Gas Operations And Announces Attendance At 27th Annual Roth Conference

Integrated Environmental Technologies, Ltd. Provides Update On Oil And Gas Operations And Announces Attendance At 27th Annual Roth Conference

March 5, 2015 - 9:00 am 360 Company Releases

Resolute Energy Corporation Announces Results for the Quarter and Full Year Ended December 31, 2014

Resolute Energy Corporation Announces Results for the Quarter and Full Year Ended December 31, 2014

March 5, 2015 - 8:05 am 360 Company Releases
ExxonMobil Holds Analyst Day

ExxonMobil Holds Analyst Day

ExxonMobil’s Capex cut is one of the smallest seen among supermajors so far

ExxonMobil (ticker: XOM) held an analyst meeting today, giving a presentation with the company’s expectations for 2015. The energy-major cut its capital budget for this year to …

March 4, 2015 - 7:01 pm Oil and Gas 360 Articles

Why OPEC is dead

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

March 4, 2015 - 6:58 pm Energy News

Ensco Prices $1.1 Billion Offering of Senior Notes

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
March 4, 2015 - 6:56 pm Energy News

Encana Announces C$1.25 Billion Bought Deal Offering

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, …

March 4, 2015 - 6:54 pm Uncategorized
Crude Oil Cuttings for the Week Ended February 27, 2015

Crude Oil Cuttings for the Week Ended February 27, 2015

crude_oil_cuttingsCRUDE 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

March 4, 2015 - 6:25 pm Oil and Gas 360 Articles
Mid-Con Energy Partners Shows Continued Growth

Mid-Con Energy Partners Shows Continued Growth

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 …

March 4, 2015 - 6:17 pm MLPs, Oil and Gas 360 Articles
Chart of the Week: How much Storage Capacity do we have left?

Chart of the Week: How much Storage Capacity do we have left?

The Energy Information Administration (EIA) reported yet another monster build to crude inventories for the week ended February 27, 2015. The latest Weekly Petroleum Status Report added 10.3 million barrels to inventories that are already believed to be the highest …

March 4, 2015 - 6:11 pm Chart of Week, Oil and Gas 360 Articles

Whiting Announces Results of Offer to Purchase Notes Originally Issued by Kodiak

Whiting Announces Results of Offer to Purchase Notes Originally Issued by Kodiak

March 4, 2015 - 6:10 pm 360 Company Releases