July 21, 2015 – Oil & Gas 360

Chesapeake Energy Erases Dividend, Sells Non-Core Properties in Cost-Cutting Moves

July 21, 2015

Chesapeake Energy (ticker: CHK), the second largest producer of natural gas in the United States, altered its financial strategy via a company news release on July 21, 2015. The announcement included a handful of cash-saving moves, ranging from internal budget decisions to outright divestures. The initiatives are listed below. CHK will not issue a dividend for its common shares in

Energy PE Firm HitecVision, Oman's Petrogas to Buy UK oilfields for $635 Million -Oil & Gas 360

Economic Minister of Israel Agrees to Natural Gas Deal if Parliament Approves

July 21, 2015

Natural gas remains a hot topic in Israel The chairman of the Israeli Parliament’s Finance Committee, Eitan Cabel, said that Economy Minister Aryeh Deri has agreed to sign off on a proposed natural gas plan, but only if it is approved by the wider parliament. Earlier this month, Deri said that the development of natural gas is a problem that

Europe’s Natural Gas Demand Down 22% since 2010 and Falling

July 21, 2015

The E.U. is the only major economy showing steady declines in natural gas demand Demand for natural gas has been growing around the world, albeit at a slower pace than many had hoped, but the European market has actually show a decline in natural gas demand since 2010. All other major gas consuming countries have shown increases in demand going

ETP Simplifies Structure with $20 Billion Sunoco Acquisition

EVX Midstream Announces Formation and $75 Million of Funding

July 21, 2015

Private equity firm Five Point Capital funds midstream MLP EVX EVX Midstream Partners announced its formation last Friday with a $75 million equity commitment from Five Point Capital Partners. EVX is a private midstream MLP that will focus on the development of crude oil, natural gas and produced water gathering, processing, treating and transportation assets in the Permian Basin, Eagle

Chesapeake Energy Corporation Updates Financial Strategy

July 21, 2015

Chesapeake Energy Corporation (CHK) today announced an updated financial strategy. Highlights include: Elimination of common stock dividend effective 2015 third quarter Sale of CHK Cleveland Tonkawa, L.L.C. properties and adjacent assets anticipated to close in 2015 third quarter; redemption of preferred shares in CHK Cleveland Tonkawa subsidiary Declaration of preferred stock dividends Due to the current commodity price environment for

Angola: Total Starts up Production from Dalia Phase 1A on Deep Offshore Block 17

July 21, 2015

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has started production from Dalia Phase 1A, a new development on its deep offshore operated Block 17, located 135 km off the coast of Angola. Dalia Phase 1A will develop additional reserves of 51 million barrels (Mb) and will contribute 30,000 barrels per day (b/d) to the block’s production. “The Dalia FPSO came on stream nearly nine years ago and

Noble Energy Closes Acquisition of Rosetta Resources

July 21, 2015

Click here for OAG360’s original article covering the announcement on May 11 Noble Energy, Inc. (“Noble Energy”) (NYSE: NBL) today announced that the stockholders of Rosetta Resources Inc. (“Rosetta”) overwhelmingly approved the merger of Rosetta into a subsidiary of Noble Energy. The transaction closed following the shareholder meeting and the merger will be effective at the end of today. In

Notes from the Road: With Manitok Energy in Dallas and Houston

July 21, 2015

Conventional E&P Uses Scale, Quick Payouts to Grow in Canada EnerCom, Inc. arranged meetings with institutional investors for Manitok Energy (ticker: MEI) during a non-deal roadshow in Dallas and Houston on July 14 and 15, 2015. Click here for the company’s latest presentation. Manitok Energy is a conventional operator focused on projects in Alberta, and the company has spent the

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