Archive for July, 2015

Enterprise Products Partners: $1.5 Billion Midstream Asset Sale Finances Purchase of Eagle Ford Midstream

Enterprise Products Partners: $1.5 Billion Midstream Asset Sale Finances Purchase of Eagle Ford Midstream

Divested Assets Worth 3% of EPD’s Gross Operating Margin

Enterprise Products Partners (ticker: EPD), the largest master limited partnership in EnerCom’s MLP Scorecard Benchmarking Report, has sold its offshore Gulf of Mexico pipelines and services business to Genesis Energy LP …

Homebuilder offers fueling stations for natural-gas cars

Story by The Republic, www.azcentral.com

People who buy a new Fulton home in Queen Creek can add a natural-gas pump in the garage if they want to commute with an alternative-fuel vehicle.

The new option will cost about $6,000, adding …

July 16, 2015 - 7:04 pm Energy News
Kinder Morgan Purchases 100% of Elba LNG, Raises Distribution 14%

Kinder Morgan Purchases 100% of Elba LNG, Raises Distribution 14%

KMI buys remaining 49% of joint venture with Shell

Kinder Morgan (ticker: KMI) announced today that it has reached an agreement with Royal Dutch Shell (ticker: RDSA) to purchase the remaining equity interest in Elba Liquefaction Company (ELC), a liquefied …

July 16, 2015 - 7:03 pm LNG, Oil and Gas 360 Articles
European Refiners Looking Forward to Receiving Iranian Crude

European Refiners Looking Forward to Receiving Iranian Crude

Lower prices for Iran’s oil mean better margins for refiners, competition for Russia

Refineries across Europe are anticipating the return of Iranian crude oil to their operations, and the potentially higher margins as added crude pushes prices down further. Approximately …

July 16, 2015 - 7:00 pm Downstream, International, Oil and Gas 360 Articles, OPEC
Bam! It’s Earnings Season Again – Q2’15 Estimates

Bam! It’s Earnings Season Again – Q2’15 Estimates

EnerCom, Inc. compiled second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 224 E&P and OilService companies in our database.

Click here for the full chart of estimates.

The median OilServices company earnings …

Source: Energy.gov

Natural Gas Overtakes Coal in Electrical Generation for the First Time

April 2015 marks the first time ever that natural gas generated more electricity than coal

The Energy Information Administration’s (EIA) Electric Power Monthly for April 2015, showed natural gas overtaking coal as the primary source of electrical power generation …

July 16, 2015 - 6:54 pm Oil and Gas 360 Articles

Emerald Oil Inc (EOX) Hits New 52-week Low During July 16 Session

Emerald Oil Inc (EOX) Hits New 52-week Low During July 16 Session

July 16, 2015 - 5:31 pm 360 Company Releases

Energy XXI Ltd. (EXXI) Hits New 52-week Low During July 16 Session

Energy XXI Ltd. (EXXI) Hits New 52-week Low During July 16 Session

July 16, 2015 - 5:31 pm 360 Company Releases

Vaalco Energy Inc. (EGY) Hits New 52-week Low During July 16 Session

Vaalco Energy Inc. (EGY) Hits New 52-week Low During July 16 Session

July 16, 2015 - 5:31 pm 360 Company Releases
Penn Virginia Pads Balance Sheet in $75 Million Non-core Asset Sale

Penn Virginia Pads Balance Sheet in $75 Million Non-core Asset Sale

On July 15, 2015, Penn Virginia (ticker: PVA) announced the sale of its East Texas assets to an undisclosed buyer for gross proceeds of $75 million. The sale is expected to close by August 2015 and includes approximately 33,400 net …

Schlumberger Announces Second-Quarter 2015 Results

  • Revenue of $9.0 billion decreased 12% sequentially
  • EPS of $0.88 declined 17% sequentially, excluding charges and credits
  • Free cash flow of $1.5 billion represented 132% of earnings
  • Sequential decremental operating margin was 23%
  • 5.8 million shares repurchased for $520 million
July 16, 2015 - 4:47 pm Energy News

ConocoPhillips Announces Dividend Increase and Reductions in Future Deepwater Exploration Spending

ConocoPhillips (NYSE: COP) today announced an increase in its quarterly dividend from $0.73 per share to $0.74 per share, payable on Sept. 1, 2015 to stockholders of record at the close of business on July 27, 2015.

“A compelling dividend …

July 16, 2015 - 4:45 pm Energy News
Market Conditions Force Legacy Industries, Brands to Get Creative, Find a Buyer, or Say Goodbye

Market Conditions Force Legacy Industries, Brands to Get Creative, Find a Buyer, or Say Goodbye

From entertainment to cell phones to oil and gas, companies are scrambling to revamp business strategies to align with changing market conditions

 

With oil prices half of what they were a year ago, energy CFOs on six continents are …

July 16, 2015 - 2:00 pm Feature Stories, Oil and Gas 360 Articles

EnerCom, Inc. to Host 100+ E&P, Oilfield Service and MLP Companies at The Oil & Gas Conference(R) 20; Conference Dates Are August 16-20, 2015

EnerCom, Inc. to Host 100+ E&P, Oilfield Service and MLP Companies at The Oil & Gas Conference(R) 20; Conference Dates Are August 16-20, 2015

July 16, 2015 - 12:30 pm 360 Company Releases

Midstates Petroleum Announces 1 for 10 Reverse Stock Split

Midstates Petroleum Company, Inc. (NYSE: MPO) (“Midstates” or the “Company”) announced today a 1-for-10 reverse stock split of the Company’s common stock. The 1-for-10 reverse stock split will be effective as of the close of business on August 3, 2015 …

July 16, 2015 - 11:57 am Energy News

Xtreme Drilling and Coil Services Announces Second Quarter Operations Update, Conference Call Details and Officer Promotions

Xtreme Drilling and Coil Services (“Xtreme”, the “Company”) (XDC.TO) is pleased to provide a second quarter operations update along with an announcement of the date for the second quarter 2015 earnings release and conference call as well …

July 16, 2015 - 11:50 am Energy News
Natural Gas Roundup for the Week Ended July 10, 2015

Natural Gas Roundup for the Week Ended July 10, 2015

roundup2NATURAL GAS INVENTORY (Week Ended 7/10/15)

Current: 2,767 Bcf

Actual Injection/(Withdrawal) per EIA: 99 Bcf

Economist Average Estimate per Bloomberg: 95 Bcf

Previous: 2,668 Bcf

Click here for the chart with five year averages.

Click here for an archive of

July 16, 2015 - 11:20 am Oil and Gas 360 Articles
Energy Transfer Partners Announces $1.94 Billion Dropdown

Energy Transfer Partners Announces $1.94 Billion Dropdown

Energy Transfer Partners Moves Susser Holdings to Sunoco LP

Energy Transfer Partners (ticker: ETP) announced that it plans a 100% dropdown of Susser Holdings Corp. (SHC) for approximately $1.94 billion to its subsidiary Sunoco LP (ticker: SUN). In addition, there …

July 15, 2015 - 6:33 pm Mergers & Acquisitions, MLPs, Oil and Gas 360 Articles
Map: World Review

12 of 14 Blocks Go Unsold in Mexico’s First Oil & Gas Auction

American Majors Avoid Shallow Water Round

Mexico offered its first auction for oil and gas rights in 77 years today.

It presented a total of 14 blocks in the shallow Gulf of Mexico. A handful of bids were received but …

Vaalco Energy Inc. (EGY) Hits New 52-week Low During July 15 Session

Vaalco Energy Inc. (EGY) Hits New 52-week Low During July 15 Session

July 15, 2015 - 5:31 pm 360 Company Releases
TransCanada Will Announce Q2 Results July 31

TransCanada Will Announce Q2 Results July 31

TransCanada to Issue Second Quarter 2015 Financial Results July 31

TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) will hold a teleconference and webcast on Friday, July 31, 2015 to discuss its second quarter 2015 financial results.

Russ Girling, TransCanada president and chief …

July 15, 2015 - 5:14 pm Canada
Lightstream Resources Closes $200 Million Secured Note Transaction

Lightstream Resources Closes $200 Million Secured Note Transaction

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 …

July 15, 2015 - 5:11 pm Canada

Canacol Announces Change to Fiscal Year End

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 …

July 15, 2015 - 5:06 pm Canada
Sanchez Energy on the Rise in the Eagle Ford Shale

Sanchez Energy on the Rise in the Eagle Ford Shale

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 …

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

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

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 …

July 15, 2015 - 4:44 pm Canada, Oil and Gas 360 Articles
Oil & Gas 360 Energy News

Arc Logistics Enters Weld County Midstream with $76.6 Million Acquisition

Pawnee Terminal offers connection into Pony Express Pipeline to CushingArc Pawnee Terminal

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 …

Penn Virginia Corporation Announces the Sale of East Texas Assets for $75 Million

Penn Virginia Corporation Announces the Sale of East Texas Assets for $75 Million

July 15, 2015 - 4:05 pm 360 Company Releases
Crude by Rail Grows to 19% of the Rocky Mountains Crude Shipments, but Future Growth may be Limited

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

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 …

July 15, 2015 - 3:41 pm Midstream, Oil and Gas 360 Articles

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

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

July 15, 2015 - 12:39 pm Energy News

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

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 …

July 15, 2015 - 12:24 pm Energy News