Archive for May, 2015

Petrobras announces new record in the “pre-salt” production

Petróleo Brasileiro S.A. – Petrobras announces that oil production at fields operated by the Company in the province of the “pre-salt” in Santos and Campos basins reached 800 thousand barrels of oil per day (bdp) on April 11th, 2015, setting …

May 14, 2015 - 7:01 pm Uncategorized
Arc Logistics Partners JV Completes Acquisition

Arc Logistics Partners JV Completes Acquisition

Arc Logistics Partners LP’s Joint Venture Company Completes Its Acquisition of Joliet Bulk, Barge & Rail LLC

Arc Logistics Partners LP (ARCX) (“Arc Logistics” or the “Partnership”), through a joint venture arrangement with GE Energy Financial Services, a …

May 14, 2015 - 6:57 pm MLPs

Natural Gas Soars to Nearly Four-Month High

Story by The Wall Street Journal

The benchmark natural-gas price soared to a nearly four-month high, bolstered by rising demand from power generators that are pivoting away from coal.

This year, utilities will retire 4.3% of the nation’s coal-fired electricity-generation …

May 14, 2015 - 6:54 pm Energy News
Teekay LNG Partners Reports Q1

Teekay LNG Partners Reports Q1

Teekay LNG Partners Reports First Quarter 2015 Results

Highlights

  • Generated distributable cash flow of $66.2 million in the first quarter of 2015, up 10 percent from the same period of the previous year.
  • In February 2015, ordered one LNG carrier
May 14, 2015 - 6:54 pm LNG, MLPs
Spectra Energy Selects Scholarship Recipients

Spectra Energy Selects Scholarship Recipients

Spectra Energy Selects 2015 Scholarship Recipients

Spectra Energy Corp (SE) today announced that 10 children of company employees have been selected to receive up to $5,000 per year in scholarship funds toward undergraduate study at an accredited college …

May 14, 2015 - 6:51 pm MLPs
Genesis Energy Prices Offering

Genesis Energy Prices Offering

Genesis Energy, L.P. Prices Offering of Senior Notes

Genesis Energy, L.P. (GEL) announced today that it has priced at par a public offering of $400,000,000 in aggregate principal amount of 6% senior unsecured notes due 2023. The notes …

May 14, 2015 - 6:48 pm MLPs

Shell considers small North America energy deals even after BG

Story by Reuters

Royal Dutch Shell Plc <RDSa.L> will consider small additions to its North America oil and gas business, despite ruling out large acquisitions after its deal to buy BG Group Plc <BG.L>, Marvin Odum, director of Shell’s Americas …

May 14, 2015 - 6:11 pm Energy News

Vedanta Resources takes $4.5 billion writedown as oil drags

Story by Reuters

Vedanta Resources Plc <VED.L> posted a full-year loss after a sharp drop in crude prices precipitated a $4.5 billion (£2.85 billion) writedown related to its Indian oil and gas business.

The company’s London-listed shares fell …

May 14, 2015 - 6:08 pm Energy News

Columbia Pipeline Partners announces distribution growth outlook through 2020

Columbia Pipeline Partners LP (CPPL) (“CPPL”), a NiSource Inc. (NI) company, today provided its average distribution growth outlook through 2020.  Subject to the key assumptions described below, CPPL expects to offer unitholders an average annual distribution …

May 14, 2015 - 5:02 pm Energy News

Whiting Petroleum Corporation Senior Vice President, Exploration and Development Mark R. Williams to Present at UBS Global Oil and Gas Conference

Whiting Petroleum Corporation Senior Vice President, Exploration and Development Mark R. Williams to Present at UBS Global Oil and Gas Conference

May 14, 2015 - 4:27 pm 360 Company Releases
B.C. LNG Project Hits Speedbump, U.S. LNG Moves Forward

B.C. LNG Project Hits Speedbump, U.S. LNG Moves Forward

Environmental concerns in Canada prompt First Nations to turn down $1 billion offer

A First Nations group in British Columbia has unanimously voted against allowing a liquefied natural gas ship terminal near the community. The terminal would be part of …

May 14, 2015 - 4:01 pm Canada, LNG, Oil and Gas 360 Articles, Regulatory

Gevo Announces Pricing of Public Offering of Common Stock and Warrants

Gevo, Inc. (GEVO), a leading renewable chemicals and next-generation biofuels company, announced today that it has priced its underwritten public offering of common stock units.

Gevo announced that it has agreed to sell 4,300,000 common stock units. Each …

May 14, 2015 - 1:08 pm Energy News
Shale Gas Creating Renaissance in U.S. Plastics Manufacturing

Shale Gas Creating Renaissance in U.S. Plastics Manufacturing

Shale gas is making U.S. plastic manufacturing competitive globally

The shale gas revolution is bringing plastic manufacturing back to the United States and making U.S. refiners more competitive globally, reports the American Chemistry Council (ACC). Due largely to plentiful and …

May 14, 2015 - 12:46 pm Downstream, Oil and Gas 360 Articles
Natural Gas Roundup for the Week Ended May 8, 2015

Natural Gas Roundup for the Week Ended May 8, 2015

NATURAL GAS INVENTORY (Week Ended 5/8/15)roundup2

Current: 1,897 Bcf

Actual Injection/(Withdrawal) per EIA: 111 Bcf

Economist Average Estimate per Bloomberg: 114 Bcf

Previous: 1,786 Bcf

Click here for the chart with five year averages.

Click here for an archive of

May 14, 2015 - 12:44 pm Oil and Gas 360 Articles
Oilservice Companies:  New Technologies in Shale Awarded $100,000 for Future Development

Oilservice Companies: New Technologies in Shale Awarded $100,000 for Future Development

New Firms are Advancing Innovations for Shale Energy Development

The Ben Franklin Shale Gas Innovation & Commercialization Center has announced the four winners for this year’s Shale Gas Innovation competition. For the fourth straight year, the Pennsylvania-based contest seeks …

May 14, 2015 - 12:32 pm Oil and Gas 360 Articles, Oilfield Services

House votes to end NSA surveillance program

Story by MSNBC

The House of Representatives voted Wednesday to end the National Security Agency’s bulk collection of cell phone data from the American public.

The USA Freedom Act passed overwhelmingly in a 338-88 vote. The bill would replace the …

May 13, 2015 - 7:06 pm Uncategorized

Canadian Aboriginal Group Rejects $1 Billion Fee for Natural Gas Project

Story by The New York Times

A small aboriginal community in British Columbia has rejected a $1 billion payment for a natural gas project, the latest setback for the Canadian energy industry’s effort to bolster exports.

A group led by …

May 13, 2015 - 7:02 pm Energy News
Williams Merges with LP Subsidiary in $13.8 Billion Deal

Williams Merges with LP Subsidiary in $13.8 Billion Deal

In a move designed to simplify the corporate structure, streamline governance and position itself for investment-grade ratings, Williams (ticker: WMB) is merging with its limited partnership subsidiary in an all stock-for-unit transaction. The merger is valued at $13.8 billion and …

May 13, 2015 - 7:00 pm Midstream, MLPs, Oil and Gas 360 Articles
Oil & Gas 360 Energy News

Memorial Production Partners – Is M&A in the Cards?

Memorial Lowers LOE, Raises Production in Q1

Memorial Production Partners (ticker: MEMP) announced its first quarter results last week, highlighting increases in production and Adjusted EBITDA while simultaneously lowering lease operating expenses (LOE) compared to the first quarter 2014.

“Despite …

Resolute Energy: Lower Costs, Record Production

Resolute Energy: Lower Costs, Record Production

Staying focused on what is within the company’s control

Low oil prices are out the control of individual E&P companies, and every single producer has felt the pain from the 40% commodity price haircut stemming from OPEC’s decision last November …

Which is the Best State for Business?

Which is the Best State for Business?

Chief Executive Magazine Canvased CEOs across the U.S. to Create its 11th Annual Ranking

Texas came in at the top of the list of “Best States for Business,” retaining its 2014 title. At the bottom in the eyes of …

Cheniere Issues Notice to Proceed and Commences Construction on First Two Liquefaction Trains at Corpus Christi Liquefaction Project

Cheniere Energy, Inc. (“Cheniere”) (NYSE MKT: LNG) announced today that its Board of Directors has made a positive Final Investment Decision (“FID”) with respect to its liquefaction project near Corpus Christi, Texas (the “CCL Project”) and has issued a notice …

May 13, 2015 - 4:58 pm Energy News
Unintended Consequences – David Preng Discusses Oil Markets with Fox Business News Television

Unintended Consequences – David Preng Discusses Oil Markets with Fox Business News Television

Preng & Associates President David Preng appeared on Fox Business News’ Opening Bell to discuss unintended consequences of the so-called U.S./OPEC market share battle, and how current management teams and boards are managing through the current commodity cycle.

May 13, 2015 - 4:06 pm Network Media, Videos
Trans-Alaska oil pipeline

Pengrowth Energy Files Preliminary Base Shelf Prospectus

Pengrowth Energy Corporation Files Preliminary Base Shelf Prospectus

Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) today announced it has filed a preliminary short form base shelf prospectus with the securities regulators in each of the Provinces of Canada and a corresponding registration statement

May 13, 2015 - 3:49 pm Canada
Baytex Reports Election of Directors

Baytex Reports Election of Directors

Baytex Reports Election of Directors

Baytex Energy Corp. (TSX:BTE)(NYSE:BTE) reports that the nominees listed in its Information Circular-Proxy Statement for the 2015 Annual Meeting of Shareholders were elected as directors. Detailed results of the vote for the election of directors

May 13, 2015 - 3:44 pm Canada
Peyto Exploration Announces Directors Vote

Peyto Exploration Announces Directors Vote

Peyto Exploration & Development Corp. Announces Results of Directors Vote

Peyto Exploration & Development Corp. (TSX:PEY) (“Peyto”) is pleased to announce that the nominees listed in the management proxy circular dated March 23, 2015 were elected as directors of Peyto …

May 13, 2015 - 3:42 pm Canada
Rock Energy Plans Increased Capital Spending in H2’15

Rock Energy Plans Increased Capital Spending in H2’15

Rock Energy Inc. Reports Q1 2015 Results and Plans Capital Spending Increase in the Second Half of the Year

Rock Energy Inc. (TSX:RE) (“Rock” or the “Company”) is pleased to report its financial and operating results for three months ended

May 13, 2015 - 3:37 pm Canada
Tamarack Valley Announces Q1

Tamarack Valley Announces Q1

Tamarack Valley Energy Ltd. Announces 2015 First Quarter Results, Including Record Production While Reducing Debt

Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) (“Tamarack” or the “Company“) is pleased to announce its operating and financial results for the …

May 13, 2015 - 3:35 pm Canada
Drill Rig in Alaska - Oil & Gas 360

Total Energy Services Inc. Announces Q1 2015 Results

Total Energy Services Inc. (“Total Energy” or the “Company”) (TSX:TOT) announces its consolidated financial results for the three months ending March 31, 2015.

Financial Highlights
($000’s except per share data)
Three Months March 31
(unaudited)
2015 2014 % Change
Revenue
May 13, 2015 - 3:31 pm Canada

Williams Announces Agreement to Acquire All Public Equity of Williams Partners L.P.

  • Expect Transaction to be Meaningfully Accretive to Cash Available for Dividends with 2016-2018 Average Annual Accretion of over 10%; Coverage to Build from Over 1.1x in 2016 to Nearly 1.2x in 2018
  • Cash Flow Accretion and Extended Cash Tax Benefits
May 13, 2015 - 1:01 pm Energy News