Liquidity Pushing $1 Billion Energy XXI (ticker: EXXI) announced its second asset sale in the last 10 days in a company press release on July 1, 2015. The Gulf Coast operator closed on its East Bay Field for $21 million and will retain a 5% overriding royalty interest for no more than five years, along with a 50% interest for
925 wells on backlog in North Dakota: 6-7 month inventory North Dakota can still reach 2 MMBOPD By increasing its oil production to record levels, North Dakota’s economy has experienced a complete turnaround in the last handful of years, and the Williston Basin is due the majority of the credit. The exploitation of one of the world’s premier shale plays
ONEOK Partners Raises Approximately $277 Million Through ATM Equity Program ONEOK Partners, L.P. (OKS) today announced that it sold approximately 7.2 million common units totaling approximately $277 million through its at-the-market equity program (ATM program) in the first half of 2015. The common units sold throughout the year and the contributions from ONEOK, Inc. to maintain its 2 percent general
Alvopetro Announces Block 182 Discovery Alvopetro Energy Ltd. (TSX VENTURE:ALV) is pleased to announce that our 182(B1) well, located on Block 182 in the Recôncavo basin in the State of Bahia, Brazil, has discovered hydrocarbons. The 182(B1) well reached a total measured depth of 2,095 metres. While drilling, inflows of oil and solution gas were experienced into the wellbore from
Stricter environmental standards further show Keystone XL will not ‘significantly exacerbate’ climate change TransCanada (ticker: TRP) sent a letter to U.S. Secretary of State John Kerry and the U.S. State Department asking them to include Canada’s stricter stance on greenhouse gas (GHG) emitters in its review of the Keystone XL pipeline. Recent climate policy announcements from both the federal government
Comstock Resources, Inc. (“Comstock” or the “Company”) (CRK) announced that it has entered into a definitive purchase and sale agreement with a private company to sell Comstock`s oil and gas properties in and around Burleson County, Texas for a sale price of approximately $115.0 million, subject to customary adjustments. The sale, which is subject to customary closing conditions, is expected
Hess Corporation (HES) today completed the previously announced sale of a 50 percent interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion. As planned, Hess and Global Infrastructure Partners have created a premier midstream joint venture — Hess Infrastructure Partners. The joint venture has incurred $600 million of debt through a 5-year Term
OPEC June production hits 31.60 MMBOPD on the back of increased Iraq output OPEC continued to produce well above its target of 30 MMBOPD in June, according to information compiled by Reuters. The information, based on shipping data and information from sources at oil companies, OPEC and consultants, suggest that OPEC produced 31.60 MMBOP in June, the highest output the
The EIA adds 10 states to its monthly natural gas reports The Energy Information Administration (EIA) added 10 additional states to its geographic coverage of natural gas production this week. The states that will now be included in the EIA’s monthly coverage are Arkansas, California, Colorado, Kansas, Montana, North Dakota, Ohio, Pennsylvania, Utah and West Virginia. The EIA said the
Story by Bloomberg Two Chinese companies that entered Brazil’s giant deep-water oilfields two years ago are now looking to increase their presence as state-run Petrobras sells assets to pay down debt, said two people with knowledge of the matter. China Petroleum & Chemical Corp., or Sinopec, and Cnooc Ltd. are among companies interested in buying stakes in so-called pre-salt offshore
Fairwood Peninsula Energy Corp (“Fairwood LNG”), the parent company and 100%-owner of Delfin LNG LLC (“Delfin LNG”), today announced a strategic alliance with Enbridge, Inc. (“Enbridge”) (TSX/NYSE:ENB), in which Enbridge has purchased an equity position in Fairwood LNG. Enbridge has made a five percent equity investment in Fairwood LNG. Enbridge has also entered into a Joint Development Agreement with Fairwood
Aethon Energy Management LLC (“Aethon” or the “Firm”), a Dallas-based private investment firm focused on onshore oil & gas, together with its partner, RedBird Capital Partners LLC (“RedBird”), today announced the acquisition of certain Ark-LA-Tex assets from SM Energy Company (NYSE: SM). Terms of the negotiated transaction were not disclosed. SM Energy’s Ark-LA-Tex assets comprise approximately 76,300 net acres with
