Penn Virginia Corp. (ticker: PVA) has spent the last few years building up its position in the Eagle Ford Shale of South Texas, and production increases combined with decreasing completion costs were the highlights of the company’s Q1’15 earnings release. The quarterly update, issued on May 11, 2015, reported average volumes of 24,721 BOEPD, with the Eagle Ford (EF) accounting
News from around the globe China plans to spin off pipeline assets into a new company, Iran raises its oil prices by 9%, India attracts bids for a new LNG import facility and Russia is adjusting its mining taxes. China looks to create new pipeline business China’s economic planning agency, the National Development and Reform Commission (NDRC) is leading talks
Story by the Australian Financial Review Woodside Petroleum has sealed a deal to buy 20 years of liquefied natural gas from a $US11.5 billion ($14.1 billion) terminal to be built in Texas, but with no softening in the pricing despite the plunge in global crude oil prices since a preliminary agreement was struck in mid-2014. The step forward for Woodside’s emerging LNG trading business came after
Prices up on EIA report Natural gas prices climbed above $3.00 per MMBtu yesterday for the first time since mid-January. Natural gas prices jumped about 4.1% to as high as $3.02 Thursday, following the release of the Energy Information Administration’s (EIA) report on weekly natural gas storage. The EIA report showed a natural gas injection of 111 Bcf for the
Baker Hughes Rig Count for the week ended May 15, 2015 Rig counts fell for another consecutive week to 888 active rigs in the United States, representing a 1% decline from last week’s rig count of 894, according to the weekly Baker Hughes (ticker: BHI) rig count. This marks the second week of 1% declines in the overall rig count
Earthstone Energy, Inc. (NYSE MKT: ESTE) (“Earthstone”), today announced that, as a result of its lenders’ semiannual review, the borrowing base under its revolving credit facility has been reaffirmed at $80.0 million. Utilization currently includes $11.2 million of indebtedness and $0.3 million of letters of credit. The facility matures on December 19, 2018. Frank A. Lodzinski, President and Chief Executive
