Archive for May, 2015

Hundreds gather in Oregon to protest proposed natural gas pipelines

Story by the Associated Press

Hundreds of people rallied at the Oregon Capitol calling on Gov. Kate Brown to block two proposed liquefied natural gas export terminals in the state.

The Statesman Journal reports ( ) that Canadian company Veresen …

May 27, 2015 - 6:36 pm Energy News
Chart of the Week: Comparing OPEC Rig Counts

Chart of the Week: Comparing OPEC Rig Counts

Saudi Arabia has the highest number of active rigs in its history

The global oil market has changed drastically since the last meeting of the Organization of Petroleum Exporting Countries (OPEC) in November 2014. However, the intentions of each of …

May 27, 2015 - 6:31 pm Chart of Week, Oil and Gas 360 Articles

WPX Energy Completes $200 Million Asset Sale

WPX Energy (WPX) has completed its third divestiture of the year, closing the sale of a package of Marcellus Shale marketing contracts and the release of certain related firm transportation capacity to an undisclosed buyer.

WPX received in …

May 27, 2015 - 6:01 pm Energy News

Petro River Announces Change in Pearsonia West Concession Requirements From Horizontal Well Obligations to Vertical Well Obligations

Complements Petro River’s Recently Announced Vertical Drilling Program

HOUSTON, TX–(Marketwired – May 27, 2015) – Petro River Oil Corp (OTCQB: PTRC) (“Petro River” or the “Company”) announces that, on May 20, 2015, by a unanimous vote 8-0, the Osage

May 27, 2015 - 5:50 pm Energy News

Norway’s TGS Names New CFO

TGS is pleased to announce the appointment of Sven Børre Larsen as the Company’s new Chief Financial Officer. The effective date of Mr. Larsen’s employment is yet to be determined, but will be no later than December 1, 2015. Mr. …

May 27, 2015 - 5:49 pm Energy News

Emerald Oil Elects Not to Proceed With Public Offering of Common Stock

Emerald Oil, Inc. (NYSE MKT: EOX) (the “Company”) announced today that due to the current market environment and associated dilution to existing shareholders, it has elected not to proceed with its previously announced public offering of common stock. As a …

May 27, 2015 - 5:41 pm Energy News

Canadian Natural Resources Limited Announces the Deferral of Its Institutional Investor Open House

Canadian Natural Resources Limited (CNQ.TO) (CNQ.TO) (“Canadian Natural” or the “Company”) announces that its previously planned Institutional Investor Open House (“Open House”) for June 17, 2015 has been deferred. Rather than the detailed Open House presentation …

May 27, 2015 - 5:38 pm Energy News
Striker Exploration Announces Q1 Results

Striker Exploration Announces Q1 Results

Striker Exploration Corp. Announces First Quarter Operating and Financial Results and Increased Guidance

Striker Exploration Corp. (“Striker” or the “Company”) (TSX VENTURE:SKX) is pleased to announce our operating and financial results for the three month period ended March 31, 2015. …

May 27, 2015 - 4:06 pm Canada
Jura Energy Posts Stimulation Testing Results

Jura Energy Posts Stimulation Testing Results

Jura Energy Corporation: Post Stimulation Testing Results of Reti-2

Jura Energy Corporation (“Jura”) (TSX:JEC) is pleased to announce the post stimulation testing results of development well Reti-2, in the Reti lease, earlier completed in the Pirkoh Limestone Formation of Eocene …

May 27, 2015 - 4:02 pm Canada
Source Rock Royalties Agrees to Acquire Light Oil Royalty

Source Rock Royalties Agrees to Acquire Light Oil Royalty

Source Rock Royalties Enters Agreement to Acquire Light Oil Royalty Interests & Engages AltaCorp Capital for Brokered Private Placement

Source Rock Royalties Ltd. (“Source Rock“) announces that it has entered into a binding letter agreement (the “Agreement

May 27, 2015 - 3:59 pm Canada
Cordy Oilfield Services Announces Q1 Results

Cordy Oilfield Services Announces Q1 Results

Cordy Oilfield Services Inc. Reports First Quarter 2015 Results

 

CORDY OILFIELD SERVICES INC. (the “Corporation” or “Cordy”) (CKK: TSX-V) released today its first quarter 2015 results.

Three months ended March 31, 2015 Environmental Heavy Manufacturing
(in millions) Services Construction
May 27, 2015 - 3:52 pm Canada
Toro Oil & Gas Financing Upon Sale of Royalty and Establishes Acquisition Fund

Toro Oil & Gas Financing Upon Sale of Royalty and Establishes Acquisition Fund

Toro Oil & Gas Ltd. Announces a Non-Dilutive Financing of $12 Million Upon Sale of Production Volume Royalty on Viking Rights and Establishes $4 Million Acquisition Fund

Toro Oil & Gas Ltd. (TSX VENTURE:TOO) (“Toro” or the “Company”) …

May 27, 2015 - 3:48 pm Canada
Oil Price Witches’ Brew

Oil Price Witches’ Brew

May’s uncanny price stability, Iraq production growth, OPEC’s unknowns and shale’s “Fracklog” all competing for visibility in global petroleum’s crystal ball

West Texas Intermediate (WTI) oil prices have ranged from $57.26 to $60.93 for the entire month of May, offering …

May 27, 2015 - 3:32 pm Commodity Pricing, Oil and Gas 360 Articles, Popular
Source: Gazprom Sakhalin II LNG

Tokyo Gas Wants to Build a Natural Gas Pipeline to Russia

A consultant with Japan’s largest gas company said they are interested in building a $3.5 billion pipeline to obtain Russia’s natural gas at half the cost of its LNG

Tokyo Gas, Japan’s largest gas company, would like to build a …

May 27, 2015 - 3:23 pm International, LNG, Oil and Gas 360 Articles
China Finds 700 Million Barrels of Tight Oil

China Finds 700 Million Barrels of Tight Oil

Major tight oil discovery in China

China’s state-owned China National Petroleum Corp. (CNPC) discovered more than 100 million metric tons of tight oil geological reserves in its Changqing field, according to a report by Reuters. Converted to barrels of …

OPEC Basket Price Falls More Than a Dollar in a Week

OPEC Basket Price Falls More Than a Dollar in a Week

OPEC expects basket price to fall for third straight week

The price of OPEC’s basket of twelve crudes stood at $60.73 per barrel today, down $1.30 from just a week ago when the basket sold for $62.03, according to information

May 27, 2015 - 12:49 pm Commodity Pricing, Oil and Gas 360 Articles, OPEC

Total Reaches Two Billion Barrel Milestone Offshore Angola

Total has achieved the significant milestone of producing a cumulative two billion barrels from its operated deep offshore Block 17 located 150 km off the coast of Angola. With the recent start up of CLOV, Block 17 has become Total’s
May 27, 2015 - 10:25 am Energy News

Scotiabank: A Spring Rally in Commodity Prices is Underway

*Scotiabank Press Release*

Scotiabank’s Commodity Price Index increased by 1.7% month-over-month (m/m) in April and will likely advance further in May alongside a rebound in oil and stronger base metal prices. Nevertheless, the All Items Index remains 29.7% below a …

May 26, 2015 - 7:20 pm Energy News
Ring Energy Enters the Delaware Basin with $75 Million Acquisition

Ring Energy Enters the Delaware Basin with $75 Million Acquisition

Extends Permian Position

Ring Energy (ticker: REI) followed through on its acquisition comments in its Q1’15 conference call, announcing purchase of 14,000 net acres in the Delaware Basin in a news release on May 26, 2015. The $75 million transaction …

Source: Gassco Kollsnes

East West Petroleum Increases Revenue and Sets Stage for Future Development

East West Petroleum Increases Revenue from Gas Production and Sets Stage for Future Oil Field Development in New Zealand

International oil and gas producer East West Petroleum Corp. (TSX VENTURE:EW) is pleased to announce that it has been informed by …

May 26, 2015 - 6:53 pm Canada

Cimarex Announces Closing of Public Common Stock Offering and Full Exercise of Option to Purchase Additional Shares

Cimarex Energy Co. (XEC) announced the closing of its previously announced public offering of 6,000,000 shares of its common stock and the full exercise of the underwriters’ option to purchase 900,000 additional shares. Net proceeds of approximately $730 …

May 26, 2015 - 6:03 pm Energy News

Western Gas Partners Announces Pricing of $500 Million of Senior Notes

Western Gas Partners, LP (WES) today announced that it has priced an offering of $500,000,000 in aggregate principal amount of 3.950% senior notes due 2025 at a price to the public of 98.789% of their face value. The …

May 26, 2015 - 5:56 pm Energy News

Crescent Point Energy to Acquire Legacy Oil + Gas for $1.53 Billion

Legacy Oil + Gas Press Release

Link to Crescent Point release

Legacy Oil + Gas Inc. (LEG.TO) (“Legacy” or the “Company”) is pleased to announce that it has entered into an arrangement agreement (the “Arrangement Agreement”) with Crescent …

May 26, 2015 - 5:54 pm Energy News

Emerald Oil Elects Not to Proceed With Public Offering of Common Stock

Emerald Oil Elects Not to Proceed With Public Offering of Common Stock

May 26, 2015 - 5:30 pm 360 Company Releases
PDC Energy Leaps to a Fast Start in 2015

PDC Energy Leaps to a Fast Start in 2015

JRCO: “One of the Best Multiple/Growth Propositions in Energy”

Roughly one month after its 2015 Analyst Day, PDC Energy (ticker: PDCE) released its first quarter results for the fiscal year in a press release on May 7, 2015. The Denver-based …

Iran Expects 170 MBOPD of Additional Production by March 2016

Iran Expects 170 MBOPD of Additional Production by March 2016

Additional production expected from 2 fields shared with Iraq

Iran plans to raise oil output by 170 MBOPD by the end of the current Iranian year, which ends on March 20, 2016, the official IRNA news agency cited an Iranian …

May 26, 2015 - 2:56 pm International, Oil and Gas 360 Articles, OPEC
Norway Surpasses Russia as Western Europe’s Top Gas Supplier

Norway Surpasses Russia as Western Europe’s Top Gas Supplier

Efforts to cut gas supplies from Russia appear to be working

Norway state-owned gas operator Gassco reported that the country exported 29.2 Bcm of gas to western Europe in the first quarter of the year, overtaking Russian exports to Europe …

May 26, 2015 - 1:11 pm International, Oil and Gas 360 Articles
El Nino Could Keep Natural Gas Prices Down

El Nino Could Keep Natural Gas Prices Down

NOAA forecasts 80% chance that a strong El Nino will last through the end of the year

One of the strongest El Nino cycles in almost two decades is likely to persist through fall and possibly winter, according to both …

May 26, 2015 - 12:56 pm Oil and Gas 360 Articles

Israeli regulator to resign, may free up gas explorers Noble and Delek

Story by Reuters

Israel’s anti-monopoly regulator, who has been pushing to open the energy sector to competition, said on Monday he would step down in August, potentially lifting the pressure on exploration companies Noble Energy and Delek Group.

Antitrust Commissioner …

May 26, 2015 - 11:48 am Energy News

Bellatrix Exploration Successfully Completes Construction and is Currently Commissioning its Deep Cut Gas Plant at Alder Flats

Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX, NYSE: BXE) is pleased to announce it has successfully completed construction and has begun commissioning of Phase 1 of the Bellatrix O’Chiese Nees-Ohpawganu’ck deep cut gas plant in the Alder Flats area …

May 26, 2015 - 11:22 am Energy News