July 2015 – Page 6 – Oil & Gas 360

Crew Energy Closes on Natural Gas Rights Exchange with British Columbia

July 23, 2015

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 the completion of a Northeast British Columbia (“NE BC”) Montney petroleum and natural gas rights exchange with the Province of

Delphi Energy Closes on Wapiti Assets

July 23, 2015

Delphi Energy Announces Closing of Disposition of Wapiti Assets Delphi Energy Corp. (TSX:DEE) (“Delphi” or the “Company”) is pleased to report that it has closed the previously announced disposition of its working interests in producing properties, facilities and infrastructure and undeveloped land in the greater Wapiti area for $50.0 million, after closing adjustments. The Company’s growth over the past three

Eagle Energy Trust Acquires Alberta Position for $30 Million

July 23, 2015

Eagle Energy Trust Announces Strategic Alberta Acquisition in the Twining Field Eagle Energy Trust (“Eagle“) (TSX:EGL.UN) is pleased to announce that it has entered into an agreement with a private company (“Privateco“) for the acquisition by Eagle of all the issued and outstanding shares of Privateco (the “Transaction“). The Transaction is valued at approximately $30 million, including Privateco’s indebtedness, and

Oil Prices Below $50: Continued Concerns of Oversupply

July 23, 2015

WTI sub-$50 first time since April Oil prices closed below the $50 per barrel mark Wednesday for the first time since April. West Texas Intermediate finished the day at $49.19 per barrel on July 22, 2015. The last time prices were below the $50 mark was April 2 of this year, when WTI was $49.14 per barrel, according to information

Natural Gas Production Pushing Down Prices and Margins

July 23, 2015

Operators reducing operating expenses to match price downswing Natural gas production has continued to rise over the last nine years, steadily pushing down the price of natural gas at Henry Hub, and putting increasing pressure on companies’ cash margins. The above chart looks at five companies in the Marcellus, illustrating the downward trend in Henry Hub prices and cash margins

EQT Midstream Partners to Construct Header Pipeline for Range Resources

July 23, 2015

EQT Midstream Partners, LP (EQM) today announced that it has entered into a definitive agreement with Range Resources – Appalachia, LLC to construct a natural gas header pipeline in southwestern Pennsylvania to support Range’s dry Marcellus and Utica development. The pipeline will provide greater than half a billion cubic feet per day of firm capacity and is backed by a

Exterran Holdings Presses Pause on Spin-off of International Services and Global Fabrication Businesses

July 23, 2015

Exterran Holdings Press Release Exterran Holdings, Inc. (EXH) announced today that its previously announced record date of July 22, 2015 and distribution date of July 31, 2015 for the spin-off of its international services and global fabrication businesses into a stand-alone, publicly traded company named Exterran Corporation will change. Exterran Holdings remains committed to closing the spin-off as soon as

CentraMax® PI1 (Push-In) Added to Antelope’s Centralizer Series

July 23, 2015

Antelope Oil Tool (AOT), an industry leading designer, manufacturer and seller of patented casing and cementation equipment, has developed the CentraMax® PI1, an addition to the CentraMax® Series. The CentraMax® PI1 is used as an alternative solution to centralizer subs in close tolerance applications. The design allows for both reciprocation and rotation type applications, and is always pushed when installed

Bayou City Energy Founded to Pursue Lower Middle-Market Upstream Investments

July 23, 2015

Bayou City Energy Management, LLC (“Bayou City”, “BCE” or the “Firm”) announced today that it has launched its first private equity fund to make value-creating investments in the upstream oil and gas sector. BCE Strategy Bayou City targets equity investments ranging from $5 to $50 million in the North American E&P industry. The Firm pursues privately negotiated investments through two

Black Ridge Oil & Gas Secures Equity Joint Venture to Develop Williston Basin

July 23, 2015

Merced Capital Targets Initial Investment of $50 Million in Its First Oil and Gas Venture On July 23, 2015, Black Ridge Oil & Gas (ticker: ANFC), a Bakken/Three Forks E&P, announced a $50 million initial target investment from Merced Capital to form an entity that will acquire and develop Williston Basin non-operated assets. Black Ridge will receive a management fee and reimbursement

IET Now Eliminating Hydrogen Sulfide in 174 Wells

July 22, 2015

Integrated Environmental Technologies (IET; Ticker: IEVM) is now producing its Excelyte biocide for use in 174 wells across the Uinta Basin in Utah and the Permian Basin in New Mexico. The biocide reduces the amount of hydrogen sulfide (H2S) down-well to near zero, reducing maintenance costs associated with corrosive damage caused by H2S. IET increased the number of wells it

Gazprom Gas Production Down 19% Year-over-Year

July 22, 2015

Russia’s gas giant faces falling demand at home and abroad, lowest output in company history Gazprom (ticker: OGZPY), Russia’s state-owned gas giant, is seeing rapidly declining production as demand for its gas falls both at home and abroad. The company’s output in June fell by 19% compared to the same month in 2014 to a record low of 24.7 Bcm,

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