Archive for June, 2015

Россия. Санкт-Петербург. 17 июня 2015. На территории выставочного комплекса Ленэкспо во время подготовки к Петербургскому международному экономическому форуму 2015. Евгений Курсков/ТАСС|A view of the Lenexpo Exhibition Complex ahead of the 19th St. Petersburg International Economic Forum in St. Petersburg, Russia, June 17, 2015. Yevgeny Kurskov/TASS

Nearly $300 Billion in Deals From St Petersburg Forum

Over 200 agreements signed as part of St Petersburg economic forum

The St Petersburg International Economic Forum (SPIEF) saw 205 deals signed by various companies. Russian oil major Rosneft (ticker: RNFTF) was one of the most active companies at the …

June 24, 2015 - 6:49 pm International, Oil and Gas 360 Articles
Source: Sweetcrudereport.com

The IEA’s 1.2 Million Missing Barrels of Daily Production

The IEA understates demand on average by about 700 MBOPD

The International Energy Agency’s (IEA) Oil Monthly Report (OMR) tracks the changes in the international oil and gas industry, following supply, demand and inventories, among many other things. Part of …

June 24, 2015 - 6:06 pm International, Oil and Gas 360 Articles
Sabine Pass LNG

Sabine Pass Construction Update

Cheniere Energy’s Sabine Pass LNG export facility reports progress on construction

Cheniere Energy (ticker: LNG) released an update on its Sabine Pass project in Cameron Parish, Louisiana, today. According to the company, engineering and procurement for the first two trains …

June 24, 2015 - 5:58 pm LNG, Oil and Gas 360 Articles

Columbia Pipeline Group Announces Board Approval of Mountaineer and Gulf XPress Projects

Columbia Pipeline Group, Inc.  (CPG) (NYSE: CPGX WI), a subsidiary of NiSource Inc. (NYSE: NI), today announced board of directors approval of a combined future investment of $2.7 billion in new infrastructure projects to support the continued development of …

June 24, 2015 - 5:36 pm Energy News

Cheniere Sabine Pass LNG U.S. export terminal to get first natgas soon

Story by Reuters

Click here for the full release from Cheniere Energy

Cheniere Energy Inc (AMEX: LNGnews) will get the first supplies in the coming weeks to test the Sabine Pass liquefied natural gas export terminal in …

June 24, 2015 - 5:28 pm Energy News
Source: theiet.org

Crude Exports from Iran Down Nearly 50% in Three Years

Sanctions against Iran have dramatically reduced its crude oil exports

The five permanent members of the United Nations Security Council and Germany (P5+1) are set to reach a comprehensive agreement with Iran regarding its nuclear agreement by June 30, potentially …

Chart of the Week: Crude Oil Inventories Steadily Retreating

Chart of the Week: Crude Oil Inventories Steadily Retreating

UntitledBut oil trades lower

Crude oil inventories dropped for the eighth straight week in the Energy Information Administration’s Weekly Petroleum Status Report for the week ended June 19, 2015.

Inventories peaked at 490,912 MBO in the last week of April, …

After 50 Years, the Wattenberg Field Keeps Re-inventing Itself

After 50 Years, the Wattenberg Field Keeps Re-inventing Itself

At $60 oil, our wells are very economic: an exclusive OAG360 interview with Great Western Oil & Gas CEO Rich Frommer

As summer heats up, the days are winding down on the second quarter of 2015, marking the second full …

Former Shell Oil President John Hofmeister Joins Board of Directors for Fuel Freedom Foundation

John Hofmeister, Former Shell Oil President, Founder of Citizens for Affordable Energy, Author of “Why We Hate the Oil Companies,” and FFF Advisory Board Member Expands Role as a Member of the Board of Directors

IRVINE, CA–(Marketwired – Jun 24,

June 24, 2015 - 3:23 pm Energy News
PetroQuest Energy Announces Initial Production From Thunder Bayou

PetroQuest Energy Announces Initial Production From Thunder Bayou

PetroQuest Energy, Inc. (PQ) announced today that it has initiated production from its Thunder Bayou discovery well (NRI – 37%) in Vermilion Parish, LA.  The Company plans to monitor the production facility’s performance over the next week as …

June 24, 2015 - 11:36 am Analytics, Energy News

Itochu Exits U.S. Shale Selling Biggest Energy Purchase for $1

Story by Bloomberg

Itochu Corp. ended its $1 billion foray into U.S. shale by selling its 25 percent stake in Samson Resources Corp. back to Samson for $1.

The sale reverses the Japanese trading company’s biggest purchase of an energy …

June 24, 2015 - 11:25 am Energy News

Barclays deal paves the way for New York bitcoin experiment

Story by the New York Business Journal

Barclays has signed a deal with a company building on the technology behind bitcoin as part of its recently complete FinTech accelerator in London.
With less than a month until Barclays (NYSE: BCS) …

June 24, 2015 - 11:20 am Energy News
Crude Oil Cuttings for the Week Ended June 19, 2015

Crude Oil Cuttings for the Week Ended June 19, 2015

crude_oil_cuttingsCRUDE OIL INVENTORY/’000 bbls (Week Ended 6/19/15)

Current: 462,993

Actual Build/(Withdrawal): (4,934)

Economist Average Estimate: (1,678)

Previous: 467,927

Click here for the chart with five year averages.

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


Important disclosures: The …

June 24, 2015 - 11:00 am Oil and Gas 360 Articles

Columbia Pipeline to Join the S&P 500; Other Changes to S&P MidCap 400 & S&P SmallCap 600

Columbia Pipeline to Join the S&P 500; Other Changes to S&P MidCap 400 & S&P SmallCap 600

June 24, 2015 - 7:28 am 360 Company Releases

Columbia Pipeline to Join the S&P 500; Other Changes to S&P MidCap 400 & S&P SmallCap 600

Columbia Pipeline to Join the S&P 500; Other Changes to S&P MidCap 400 & S&P SmallCap 600

June 24, 2015 - 7:28 am 360 Company Releases

PetroQuest Energy Announces Initial Production From Thunder Bayou

PetroQuest Energy Announces Initial Production From Thunder Bayou

June 24, 2015 - 7:00 am 360 Company Releases
Source: Gazprom. LNG tanker

European Emissaries Call for the End of U.S. Export Ban

Pennsylvania’s shale gas, affordable prices, preferred over Russian gas

Representatives from about 15 European embassies were in attendance during a recent meeting of the Williamsport-Lycoming Chamber of Commerce to discuss lifting the ban of exports of U.S. crude oil and …

Core Laboratories Acquires Sanchez Technologies

Core Laboratories Acquires Sanchez Technologies

Core Lab (ticker: CLB) only company capable of generating EOR data at 20,000+ PSI in GOM Deepwater Plays

Core Laboratories (ticker: CLB), a global leader in reservoir description, production enhancement and reservoir management services, announced the purchase of Sanchez Technologies …

TransGlobe Offers Mid-Quarter Update

TransGlobe Offers Mid-Quarter Update

TransGlobe Energy Corporation Mid-Quarter Update for Q2 2015

TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (TSX:TGL) (NASDAQ:TGA) provides an update for the second quarter of 2015. All dollar values are expressed in United States dollars unless otherwise stated.

HIGHLIGHTS

  • Q2
June 23, 2015 - 5:36 pm Canada
Source: Gassco Kollsnes

Chinook Announces Amended Credit Facility

Chinook Energy Inc. Announces Amended Credit Facility

Chinook Energy Inc. (TSX:CKE) (“Chinook” or the “Company”) today announced its amended credit facility following the completion of the semi-annual review of its facility by its bank syndicate. The amended credit facility provides …

June 23, 2015 - 5:33 pm Canada

Boeing Names Muilenburg CEO, Succeeding McNerney

Story by The Wall Street Journal

Boeing Co. on Tuesday said chief executive W. James McNerney will step down on July 1, to be succeeded by chief operating officer Dennis Muilenburg.

Mr. McNerney, 65, has reached Boeing’s mandatory retirement age

June 23, 2015 - 5:08 pm Energy News
Source: Gassco Karsto Pipes

Putin: Oil Prices “Suit Us for Now”

The Russian oil and gas industry sees prices remaining stable at ~$60-$65 per barrel

During the St. Petersburg International Economic Forum, Lukoil (ticker: LKOH) CEO Vagit Alekperov said that he expects oil prices to remain relatively stable moving forward. When …

WPX Energy Tacks on Acreage in the San Juan Basin

WPX Energy Tacks on Acreage in the San Juan Basin

WPX Energy (ticker: WPX) added 14,300 net acres to its San Juan Basin asset on June 22, 2015, increasing its overall position in the region to 100,000 net acres. WPX believes it holds 500 gross drilling locations across the Gallup …

Source: Iraqenergy.org

Crude Imports from Canada, Latin America, Putting Pressure on Iraqi Exports

Crude oil imports from the Americas reducing share of Iraqi crude imports by the U.S.

Imports of Iraqi crude oil fell to 77 MBOPD in the week ended June 12, 2015, down 170 MBOPD from the previous week. Increased imports …

June 23, 2015 - 12:00 pm Canada, Oil and Gas 360 Articles

TransGlobe Energy Corporation Mid-Quarter Update for Q2’15

TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (TGL.TO) (TGA) provides an update for the second quarter of 2015. All dollar values are expressed in United States dollars unless otherwise stated.

HIGHLIGHTS

  • Q2 production averaging ~15,000 Bopd
June 23, 2015 - 10:23 am Energy News

Vantage Drilling Retains Lazard to Assist in Review of Financing and Strategic Opportunities

Vantage Drilling Company (“Vantage or the “Company”) (NYSE MKT: VTG) announced today that it has retained Lazard Freres & Co. LLC to advise the Company with respect to financing and strategic opportunities. The Board of Directors has retained Lazard to …

June 23, 2015 - 10:19 am Energy News

Core Lab Acquires Sanchez Technologies; Company Increases Reservoir Fluids Technology; Core Worldwide Leader In High Pressure Mercury-Free PVT Analyses

Core Lab Acquires Sanchez Technologies; Company Increases Reservoir Fluids Technology; Core Worldwide Leader In High Pressure Mercury-Free PVT Analyses

June 23, 2015 - 9:00 am 360 Company Releases
Saudi Arabia Puts Pedal to the Floor on Oil Production

Saudi Arabia Puts Pedal to the Floor on Oil Production

“If you are Saudi Arabia…you would go to full capacity”

Goldman Sachs and Citi Group predict that Saudi Arabia will likely start to push production to its daily maximum of 11 MMBOPD in the second half of 2015, reports Bloomberg

Oil & Gas 360® Achieves One Million Pageviews

Oil & Gas 360® Achieves One Million Pageviews

New Oil & Gas 360® Users Accelerate Rapidly During the Past 12 Months

In 2010, EnerCom Inc. launched www.oilandgas360.com. The idea was to bring oil and gas data and insight to a global audience of oil and gas company …

Energy XXI Bolsters Balance Sheet with $245 Million Sale, Reaches Agreement with BOEM

Energy XXI Bolsters Balance Sheet with $245 Million Sale, Reaches Agreement with BOEM

Energy XXI (ticker: EXXI), one of the largest operators in the Gulf of Mexico, announced significant liquidity-enhancing measures in two separate press releases on June 22, 2015. The first announcement, released prior to market opening, confirmed an agreement with the …

June 22, 2015 - 6:54 pm Mergers & Acquisitions, Oil and Gas 360 Articles