July 2015 – Page 11 – Oil & Gas 360

Lightstream Resources Closes $200 Million Secured Note Transaction

July 15, 2015

Lightstream Announces Closing of Previously Announced US $200 Million Secured Note Transaction and Production Update Lightstream Resources Ltd. (the “Company” or “Lightstream”) (TSX:LTS) announces that we have completed the issuance of US$200 million in second lien notes (“Secured Notes”) for cash proceeds, as described in our July 2, 2015 press release. Proceeds will be used to reduce the outstanding borrowing

Canacol Announces Change to Fiscal Year End

July 15, 2015

Canacol Energy Ltd. Announces Change to Fiscal Year End Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX:CNE)(OTCQX:CNNEF)(BVC:CNEC) is pleased to announce its new fiscal year ending December 31. Its previous year ending June 30 will go ahead as originally scheduled including, amongst other items, annual audited consolidated financial statements and audited reserve reports to be released prior to September 28,

Sanchez Energy on the Rise in the Eagle Ford Shale

July 15, 2015

Quarter-over-quarter daily production increases by 19%, current volumes highest in company history Increased efficiency, shorter drilling days and wells exceeding type curves prompted Sanchez Energy (ticker: SN) to upwardly revise guidance for the second straight quarter, the company said in an operations update on July 15, 2015. Current volumes are the highest in company history. The producer, operating almost exclusively

Orphan Oil and Gas Wells in Alberta Quadrupled over the Past Year

July 15, 2015

Orphaned wells are growing, but strong companies are still seeing strong business in Alberta The number of orphaned wells in Alberta has shot up over the last year as many companies struggle with lower commodity prices. Alberta’s Orphan Well Association (OWA) says it currently has a backlog of 704 orphaned wells, up dramatically from 164 last year. The “industry is

Arc Logistics Enters Weld County Midstream with $76.6 Million Acquisition

July 15, 2015

Pawnee Terminal offers connection into Pony Express Pipeline to Cushing Arc Logistics (ticker: ARCX) announced today the $76.6 million acquisition of all the limited liability company interest of UET Midstream from United Energy Trading and Hawkeye Midstream. The consideration for the acquisition was made up of approximately $4.3 million in cash and approximately $32.3 million common units (approximately 1.746 million

Crude by Rail Grows to 19% of the Rocky Mountains Crude Shipments, but Future Growth may be Limited

July 15, 2015

Crude by rail continues to grow alongside production in the Rocky Mountains As crude oil production in the Rocky Mountains, Petroleum Administration for Defense District (PADD) 4, has steadily increased, so too has the use of railways to transport crude oil from the region. Data from the Energy Information Administration shows that 122 MBOPD of crude oil was moved by

Nabors Extends Term of Revolving Credit Facility, Increases Borrowing Capacity to $2.2 Billion

July 15, 2015

Nabors Industries Ltd. (NYSE: NBR) today announced the execution of an amendment to its existing committed, unsecured revolving credit facility. Under the terms of the amendment, the borrowing capacity under the revolving credit facility has been increased to $2.2 billion. In addition, the term of the revolving credit facility has been extended until July 2020. The current rate under the

Miller Energy Provides Clarifying Statement and Announces Receipt of State Tax Credit Funds

July 15, 2015

Miller Energy Resources, Inc. (MILL) (“Miller Energy” or the “Company”) today provided clarifying comments to announcements made in its press release dated July 14, 2015. The Company also provided an update on its on-going capital repositioning process as well as its financial and operational position. Miller Energy believes its assets have value that exceeds its debt and continue to offer

Canada Oil and Gas Provinces Rank Among Best in the World - Oil & Gas 360

Crescent Point Energy Confirms Dividend

July 15, 2015

Crescent Point Energy Confirms July 2015 Dividend Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (CPG) (CPG) confirms that the dividend to be paid on August 17, 2015, in respect of July 2015 production, for shareholders of record on July 31, 2015, will be CDN$0.23 per share. These dividends are designated as “eligible dividends” for Canadian income tax purposes.

WPX Energy Adds Permian Basin to Portfolio with $2.75 Billion Acquisition

July 14, 2015

WPX Establishes Fourth Core Area Wells Provide 30% Return at $60/barrel WPX Energy (ticker: WPX) is moving into the most prolific oil play in the United States. On July 14, 2015, the Tulsa-based company announced the acquisition of privately held RKI Exploration & Production, LLC for $2.75 billion (including $0.4 billion of debt). In return, WPX receives 92,000 net acres

Higher Gasoline Costs Sent Consumer Price Index Soaring in April - Oil & Gas 360

United States Gasoline Prices Lowest Since 2009… Except in California

July 14, 2015

California gas prices $0.95 above national averages Nationally, the average price of a gallon of gas is just $2.77. But the average price in California is $3.72, with average prices in the L.A. area even higher at $4.05/gal, the Automobile Club of Southern California told the LA Times. Problems with refining, along with California’s stricter rules for gasoline, have sent

Moscow Looks to Supply Natural Gas Directly to Greece

July 14, 2015

Russian Energy Minister Alexander Novak said the two countries are looking to increase energy ties Moscow is considering shipping natural gas directly to Greece through the Turkish Stream Pipeline, which it hopes to build across Greek territory, reports International Business Times. The pipeline is planned to have a capacity of 47 billion cubic meters per annum, with construction costs of

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