Archive for July, 2015

Source: XOM

Quantum Energy Commits to 40 MBOPD Refinery as Downstream Enjoys Stronger Margins

Partnership with Native Son Holdings set to build refinery in North Dakota

Quantum Energy (ticker: QEGY) and Native Son Holdings announced that they plan to form a joint venture in order to construct and operate a 40,000 barrel per day …

July 28, 2015 - 2:07 pm Commodity Pricing, Downstream, Oil and Gas 360 Articles
Marcellus, Utica Driving 85% of Shale Gas Growth Since 2012

Marcellus, Utica Driving 85% of Shale Gas Growth Since 2012

Per well efficiencies up 2.6x in the Marcellus and 22.3x in the Utica since 2012

EIA Marcellus and Utica Natgas Growth

Increased productivity of natural gas wells in the Marcellus and Utica Shale basins is responsible for 85% of increased natural gas production in the United …

Apple, Goldman Among Firms in $140 Billion Climate Pledge

Story by Bloomberg

Executives from 13 major U.S. corporations announced at least $140 billion in new investments to decrease their carbon footprints as part of a White House initiative to recruit private commitments ahead of a United Nations climate-change summit …

July 28, 2015 - 11:02 am Energy News

Vermilion Energy Inc. Announces Farm-in Agreement in Germany

Vermilion Energy Inc. (“Vermilion”, the “Company”, “We” or “Our”) (TSX, NYSE: VET) is pleased to announce that we have entered into a farm-in agreement (the “Farm-in” or the “Agreement”) with Mobil Erdgas-Erdӧl GmbH (“MEEG”) and BEB Erdgas und Erdӧl GmbH …

July 28, 2015 - 10:52 am Energy News

Goodrich Petroleum Corporation Announces Sale Of Proved Reserves And Portion Of Leasehold In The Eagle Ford Shale

Goodrich Petroleum Corporation (GDP) today announced that it has entered into a definitive agreement to sell its proved reserves and associated leasehold in the Eagle Ford Shale in LaSalle and Frio Counties, Texas for $118 million, subject to …

July 27, 2015 - 7:36 pm Energy News
Natural Gas Salt-Facility Storage in the Gulf has Doubled Since 2008

Natural Gas Salt-Facility Storage in the Gulf has Doubled Since 2008

Salt-facilities offer more flexibility than other types of storage

The available working capacity of salt-cavern natural gas storage facilities in the Gulf Coast gas-producing region has doubled since 2008, according to information from the Energy Information Administration (EIA). New capacity …

July 27, 2015 - 7:01 pm Oil and Gas 360 Articles

Whiting Petroleum Corporation Appoints Carin S. Knickel to Its Board of Directors

Whiting Petroleum Corporation Appoints Carin S. Knickel to Its Board of Directors

July 27, 2015 - 7:00 pm 360 Company Releases
Statoil Julius Discovery Holds 15 to75 MMBOE of Recoverable Gas and Condensate

Statoil Julius Discovery Holds 15 to75 MMBOE of Recoverable Gas and Condensate

Statoil continues to delineate resources near King Lear discovery offshore in Norway

Norway’s Statoil (ticker: STO) announced its 2/4-23S well (Julius) discovered gas and condensate in the Ula formation, offshore Norway in the North Sea, southeast of Stavanger. STO estimates …

Saudi’s Largest Petrochemical Company is Investing in U.S. Shale Gas

Saudi’s Largest Petrochemical Company is Investing in U.S. Shale Gas

Saudi investment in U.S. shale continues in the down market, not interested in acquiring U.S. companies at this point

Saudi Basic Industries Corp. (ticker: TADAWUL:2010), or Sabic, plans to expand investment in U.S. shale gas projects through joint ventures, according …

July 27, 2015 - 6:47 pm Fracing, International, Oil and Gas 360 Articles, OPEC
Colorado Gov. Hickenlooper Pushes for Approval on 6 Million Ton per Annum Jordan Cove LNG

Colorado Gov. Hickenlooper Pushes for Approval on 6 Million Ton per Annum Jordan Cove LNG

The Jordan Cove project would directly link Colorado to new energy markets – Hickenlooper

Colorado Governor John Hickenlooper has written to U.S. Department of Energy Secretary Ernest Moniz and Federal Energy Regulatory Commission (FERC) chair Cheryl LaFleur in support of …

July 27, 2015 - 6:30 pm LNG, Oil and Gas 360 Articles

Magnum Hunter Resources Schedules Second Quarter 2015 Financial and Operating Results Conference Call

Magnum Hunter Resources Schedules Second Quarter 2015 Financial and Operating Results Conference Call

July 27, 2015 - 5:19 pm 360 Company Releases

SandRidge Energy, Inc. Announces Receipt of Notice from NYSE Regarding Continued Listing Standards

SandRidge Energy, Inc. Announces Receipt of Notice from NYSE Regarding Continued Listing Standards

July 27, 2015 - 4:15 pm 360 Company Releases

Gulfport Energy Corporation Provides Second Quarter 2015 Operational Update

Gulfport Energy Corporation (GPOR) (“Gulfport”) today provided a second quarter 2015 operational update and scheduled its second quarter 2015 financial and operational results conference call. Operational highlights for the second quarter of 2015 include:

  • Net production averaged 473.9
July 27, 2015 - 3:44 pm Energy News

Atlas Resource Partners’ Lending Group Reaffirms $750 Million Borrowing Base

Atlas Resource Partners, L.P. (“ARP”) (ARP) announces that its syndicated lending group has reaffirmed the borrowing base of $750 million on ARP’s senior secured revolving credit facility.

Atlas Resource Partners, L.P. (ARP) is an exploration & …

July 27, 2015 - 3:42 pm Energy News
Ring Energy, Inc. Releases Second Quarter 2015 Operations Update

Ring Energy, Inc. Releases Second Quarter 2015 Operations Update

*CORRECTION*

Ring Energy, Inc. (NYSE MKT: REI) (“Ring”) (“Company”) earlier today released its operations update for the second quarter of 2015. In the release, the Company published internal engineering 3P (Proved Developed Producing, Proved developed Non-Producing, Proved Undeveloped) reserve estimates …

July 27, 2015 - 3:39 pm Energy News

Sanchez Energy Corporation Announces Webcast of Second Quarter 2015 Earnings Conference Call

Sanchez Energy Corporation Announces Webcast of Second Quarter 2015 Earnings Conference Call

July 27, 2015 - 7:00 am 360 Company Releases
Cabot Oil & Gas Reduces Costs per Mcfe by 3%

Cabot Oil & Gas Reduces Costs per Mcfe by 3%

Cabot remains focused on cutting costs

Houston-based Cabot Oil & Gas (ticker: COG) reported its second quarter results today, showing that the company continues to focus on cutting costs. Cabot continued to reduce its capital spending in the Marcellus.

Cabot …

Mexico says it will cut carbon, and is buying US nat gas

Story by CNBC

Mexico made headlines and earned praise from environmentalists this year when it pledged to cap and cut carbon emissions. Less discussed has been how Mexico may use U.S. natural gas to help it get there.

Mexico has

July 24, 2015 - 6:47 pm Energy News

Shell-BG recommended combination receives Brazilian antitrust clearance

Royal Dutch Shell plc (“Shell”) (NYSE:RDS.A) (NYSE:RDS.B) today announced that its recommended combination with BG Group plc (“BG”) has received unconditional merger clearance from the Brazilian competition authority (CADE), satisfying the first of the pre-conditions to the combination. Other pre-conditions …

July 24, 2015 - 6:45 pm Energy News

Mitsubishi to end US vehicle production

Story by Agence France-Presse

Japanese automaker Mitsubishi said Friday it would stop making vehicles in the United States and is looking to sell its underused Illinois plant.

“Following a review of Mitsubishi Motor Corporation’s global supply chain, we have been …

July 24, 2015 - 6:42 pm Energy News

American Airlines 2Q profit soars, helped by cheap fuel

Story by the Chicago Tribune

American Airlines said Friday that its second-quarter profit nearly doubled to $1.7 billion on sharply cheaper jet fuel.

The world’s biggest airline said it was its most profitable quarter ever, after excluding one-time costs and …

July 24, 2015 - 6:40 pm Energy News

Sanchez Energy Announces Participation in Upcoming Energy Conference

Sanchez Energy Announces Participation in Upcoming Energy Conference

July 24, 2015 - 5:55 pm 360 Company Releases
Rig Count Makes Biggest Gains Yet in 2015

Rig Count Makes Biggest Gains Yet in 2015

Overall rig counts up 2% on additions in the oil patch

Overall rig counts reached a nearly two-month high this week, with Baker Hughes (ticker: BHI) reporting 876 rigs active in the United States for the week ended July 24, …

Enterprise Completes $1.5 Billion Sale of Offshore Gulf of Mexico Business to Genesis

EPD Release

Enterprise Products Partners L.P. (EPD) today announced it has closed on the sale of its offshore Gulf of Mexico pipelines and services business to Genesis Energy L.P. (“Genesis”) for approximately $1.5 billion in cash.

“We are …

July 24, 2015 - 1:00 pm Energy News

Magnum Hunter Resources Announces Dismissal of Last Remaining Stockholder Lawsuit

Magnum Hunter Resources Announces Dismissal of Last Remaining Stockholder Lawsuit

July 24, 2015 - 8:00 am 360 Company Releases

Here’s why ocean shipping companies are switching to natural gas

Story by Fortune

TOTE’s container ships will be the first of a wave to run on cleaner fuel.

The North American ocean carrier TOTE is deploying the world’s first container ships fueled by liquefied natural gas (LNG). The move anticipates …

July 23, 2015 - 6:48 pm Energy News
Rosneft Asks Russia for an End to Gazprom’s Export Monopoly

Rosneft Asks Russia for an End to Gazprom’s Export Monopoly

Update: Energy Minister Wants to Maintain Monopoly

Alexander Novak, the Energy Minister of the Russian Federation, came out in favor of continuing Gazprom’s monopoly of exporting pipeline natural gas on July 28, reports Russian news agency Tass. “We are …

July 23, 2015 - 6:26 pm International, Oil and Gas 360 Articles
Core Laboratories Shakes off Difficult Oil & Gas Market in Q2’15 Results

Core Laboratories Shakes off Difficult Oil & Gas Market in Q2’15 Results

Second Half 2015 Projections: Revenue of $408 to $415 Million, Free Cash Flow of $110 Million

Core Laboratories (ticker: CLB) reported net income of $34.6 million, or $0.81 per share, on revenues of $204 million in its Q2’15 earnings release …

Source: Gazprom. LNG Tanker

B.C. Government Passes LNG Act Allowing it to Advance a $36 Billion Project with PNW LNG

Pacific NorthWest LNG Project is forecast to create 4,500 jobs and up to $8.6 billion in tax and royalties

The government of British Columbia approved the Liquefied Natural Gas Project Agreements Act yesterday after a special summer session. The bill …

July 23, 2015 - 4:42 pm Canada, LNG, Oil and Gas 360 Articles
Crew Energy Closes on Natural Gas Rights Exchange with British Columbia

Crew Energy Closes on Natural Gas Rights Exchange with British Columbia

Crew Energy Inc. Announces Closing of Northeast BC Montney Petroleum and Natural Gas Rights Exchange With Province of British Columbia and Reports Positive Operational Results

Crew Energy Inc. (TSX:CR) of Calgary, Alberta (“Crew” or the “Company”) is pleased to announce …

July 23, 2015 - 4:37 pm Canada