Archive for July, 2015

Exterran Announces New Name for the U.S. Market Leader in Contract Compression Services

Exterran Announces New Name for the U.S. Market Leader in Contract Compression Services

Exterran and Exterran Partners are pleased to announce the future name of the market leader in U.S. natural gas contract compression services: Archrock.

In the third quarter of 2015, Exterran expects to separate its international contract operations, international aftermarket services …

July 9, 2015 - 11:56 am Energy News, MLPs

Enterprise Expands Propylene Pipeline System; Converting North Dean and Lou-Tex Pipelines to Polymer Grade Service

Enterprise Products Partners L.P. (EPD) today announced a series of projects to convert and expand segments of its petrochemicals pipeline network designed to increase throughput capacity for polymer grade propylene (“PGP”) and enhance system flexibility and reliability.

July 9, 2015 - 11:54 am Energy News

Spark Energy, Inc. Announces Acquisition of CenStar Energy

Spark Energy, Inc. (SPKE), a Delaware corporation (“Spark”), announced today that it has acquired CenStar Energy, a retail energy company with approximately 75,000 residential customer equivalents. CenStar serves natural gas and electricity customers across 20 utilities in New …

July 9, 2015 - 11:42 am Energy News

Whiting Petroleum Corporation Announces Second Quarter 2015 Earnings Release Date and Conference Call

Whiting Petroleum Corporation (NYSE:WLL) will release its second quarter 2015 financial and operating results on Wednesday, July 29, 2015 after the market closes. A conference call with investors, analysts and other interested parties is scheduled for 11:00 a.m. …

July 8, 2015 - 6:59 pm Energy News
Legacy Reserves Gears Up with $440 Million Acquisition, Joint Venture Agreement

Legacy Reserves Gears Up with $440 Million Acquisition, Joint Venture Agreement

Legacy Enters East Texas, More Acquisitions to Follow?

Legacy Reserves LP (ticker: LGCY), a master limited partnership (MLP) with an exploration and production focus, announced significant additions to its growth plan in separate news releases on July 6, 2015.

Legacy

Oil Prices Down Over 1% on Surprise Inventory Build

Oil Prices Down Over 1% on Surprise Inventory Build

Analysts predicted draw with summer weather

Information from the Department of Energy (DOE) showed a build of 384,000 barrels of oil for the week ended July 3, 2015, surprising analysts and sending oil prices down after a slump earlier …

July 8, 2015 - 6:49 pm Oil and Gas 360 Articles
China Opens Six Blocks for Private Exploration Amid Market Turmoil

China Opens Six Blocks for Private Exploration Amid Market Turmoil

Remote location and complex geology remain obstacles

The Chinese government announced yesterday that it will open six oil and gas blocks for private companies to explore in the Xinjiang region in northwest China. China’s Ministry of Land and Resources said …

Bonterra Energy Closes $31 Million Private Placement

Bonterra Energy Closes $31 Million Private Placement

Bonterra Energy Corp. Announces Closing of $31 Million Private Placement

Bonterra Energy Corp. (www.bonterraenergy.com) (BNE.TO) (“Bonterra” or the “Corporation”) is pleased to announce that it has closed its private placement of common shares to existing holders …

July 8, 2015 - 4:56 pm Canada
Enterprise Completes Acquisition of Eagle Ford Assets

Enterprise Completes Acquisition of Eagle Ford Assets

Enterprise Completes Acquisition of Eagle Ford Midstream Assets

Enterprise Products Partners L.P. (EPD) today announced it has closed on its purchase of the member interests in EFS Midstream LLC (“EFS Midstream”) from affiliates of Pioneer Natural Resources Company …

July 8, 2015 - 4:53 pm MLPs
Williams’ Transco Seeks FERC Approval for Pipeline to Serve New York City

Williams’ Transco Seeks FERC Approval for Pipeline to Serve New York City

Williams’ Transco Seeks FERC Approval for Pipeline Expansion to Serve New York City by Winter 2017

Williams (WMB) announced today that Transco has filed an application with the Federal Energy Regulatory Commission for its New York Bay Expansion …

July 8, 2015 - 4:51 pm MLPs

Whiting Petroleum Corporation Announces Second Quarter 2015 Earnings Release Date and Conference Call

Whiting Petroleum Corporation Announces Second Quarter 2015 Earnings Release Date and Conference Call

July 8, 2015 - 4:33 pm 360 Company Releases
U.S. petroleum exports averaged 4.1 MMBOPD for the first four months of 2015

U.S. petroleum exports averaged 4.1 MMBOPD for the first four months of 2015

U.S. Gulf Coast Makes up 75% of Petroleum Product Exports

US Petroleum Exports Imports

Roughly 75% of exported petroleum products come from the U.S. Gulf Coast, according to information from the Energy Information Administration (EIA). More than half of the country’s refining capacity is …

July 8, 2015 - 2:22 pm Chart of Week, Oil and Gas 360 Articles

Rex Energy Provides Operational Update

  • Tested remaining wells on the four-well Renick pad in the Moraine East Area
  • Placed into sales the two-well Harvey pad in the Legacy Butler Operated Area
  • Commenced plans to drill and complete the first dry gas Utica well Western Lawrence
July 8, 2015 - 12:45 pm Energy News

Enterprise Completes $2.15 Billion Acquisition of Eagle Ford Midstream Assets from Pioneer Natural Resources

Enterprise Products Partners Press Release

Enterprise Products Partners L.P. (EPD) today announced it has closed on its purchase of the member interests in EFS Midstream LLC (“EFS Midstream”) from affiliates of Pioneer Natural Resources Company (“Pioneer”) and Reliance …

July 8, 2015 - 12:33 pm Energy News

Barclays Fires Chief Executive Antony Jenkins

Story by The Wall Street Journal

Barclays PLC Chief Executive Antony Jenkins was ousted from the bank Wednesday after its board decided fresh blood is needed after three lackluster years with Mr. Jenkins at the helm.

The revolt was led …

July 8, 2015 - 12:03 pm Energy News
Magnum Hunter Resources Announces Commitment to Amend Its Senior Secured Revolving Credit Facility

Magnum Hunter Resources Announces Commitment to Amend Its Senior Secured Revolving Credit Facility

Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) (NYSE MKT: MHR.PRE) (the “Company” or “Magnum Hunter”) announced today that it has received and accepted a firm commitment (the “Commitment”) from Bank of Montreal, which is the …

July 8, 2015 - 12:00 pm Analytics, Energy News
Crude Oil Cuttings for the Week Ended July 3, 2015

Crude Oil Cuttings for the Week Ended July 3, 2015

crude_oil_cuttingsCRUDE OIL INVENTORY/’000 bbls (Week Ended 7/3/15)

Current: 465,763

Actual Build/(Withdrawal): 384

Economist Average Estimate: (489)

Previous: 465,379

Click here for the chart with five year averages.

Click here for an archive of EnerCom’s Inventory Reports.


Important disclosures: The …

July 8, 2015 - 11:23 am Oil and Gas 360 Articles

Penn Virginia Corporation Schedules Conference Call for Second Quarter 2015 Results

Penn Virginia Corporation Schedules Conference Call for Second Quarter 2015 Results

July 8, 2015 - 8:30 am 360 Company Releases

Magnum Hunter Resources Announces Commitment to Amend Its Senior Secured Revolving Credit Facility

Magnum Hunter Resources Announces Commitment to Amend Its Senior Secured Revolving Credit Facility

July 8, 2015 - 7:00 am 360 Company Releases
EIA: Natural Gas will Return to Growth Stride in July

EIA: Natural Gas will Return to Growth Stride in July

On a month-over-month comparison, few changes stood out in the Energy Information Administration’s (EIA) Short Term Energy Outlook (STEO) for July 2015. Oil price projections are relatively consistent, and 2015 production was even revised upward by 0.1 MMBOPD.

The declines …

Source: Royal Dutch Shell

B.C. Releases Details on $36 Billion Tax Deal with Pacific NorthWest LNG

Pacific NorthWest LNG will be exempt from tax hikes for 25 years

British Columbian Finance Minister Mike de Jong released the details of the province’s deal with Petronas-led Pacific NorthWest LNG (PNW LNG) in order to attract a Final Investment …

July 7, 2015 - 6:59 pm Canada, LNG, Oil and Gas 360 Articles

Stone Energy Corporation Provides Drilling and Production Update

Stone Energy Corporation (SGY) today provided a drilling and production update. In the Gulf of Mexico deepwater, operations at the Cardona #6 development well, located in Mississippi Canyon block 29, have been proceeding ahead of schedule and below …

July 7, 2015 - 6:01 pm Energy News
Genesis Energy Increases Distribution

Genesis Energy Increases Distribution

Genesis Energy, L.P. Increases Quarterly Distribution

Genesis Energy, L.P. (GEL) announced today that it will pay a regular quarterly distribution of $0.625 per Common Unit for the quarter ended June 30, 2015. The distribution will be paid on …

July 7, 2015 - 5:55 pm MLPs
Oil & Gas 360 Energy News

Enterprise Increases Distributions

Enterprise Declares Distribution; 44th Consecutive Quarterly Distribution Increase

Enterprise Products Partners L.P. (EPD) announced today that the board of directors of its general partner declared an increase in the quarterly cash distribution paid to partners to $0.38 per …

July 7, 2015 - 5:52 pm MLPs
Plains All American Increased Distributions

Plains All American Increased Distributions

Plains All American Pipeline, L.P. and Plains GP Holdings Increase Distributions

Plains All American Pipeline, L.P. (NYSE: PAA) andPlains GP Holdings (NYSE: PAGP) today announced their quarterly cash distributions with respect to the second quarter of 2015. …

July 7, 2015 - 5:49 pm MLPs

PayPal value hits $45 billion before eBay spin-off

Story by Yahoo! Finance

There’s been a lot of anticipatory excitement over eBay’s (EBAY) plan to spin off its faster-growing payments unit, PayPal. This week, the markets got to quantify the hype, as shares of PayPal began trading …

July 7, 2015 - 5:45 pm Energy News
Piattaforma in produzione

Eni Starts Production in Latin America’s Largest Offshore Gas Field

Offshore production in Perla Field expected to reach 1,200 MMcf/d

Italy’s Eni (ticker: E) announced that it has started production on the first phase of its offshore operations in the Perla gas field, approximately 50 kilometers (about 31 miles) offshore …

Core Lab Announces Q3’15 Quarterly Dividend

The Board of Supervisory Directors of Core Laboratories N.V. (NYSE: “CLB US”) (Euronext Amsterdam Exchange: “CLB NA”) has announced a cash dividend of $0.55 per share of common stock payable in the third quarter of 2015. On an annualized basis, …

July 7, 2015 - 5:43 pm Energy News
Yuma Energy, Inc. Announces Successful Completion of its Talbot 23-1 Well and Provides an Operational Update

Yuma Energy, Inc. Announces Successful Completion of its Talbot 23-1 Well and Provides an Operational Update

Yuma Energy, Inc. (NYSE MKT: YUMA) (NYSE MKT: YUMA-PA) (the “Company”) today announced the successful completion of its Talbot 23-1 well and provided an operational update on its properties.

Amazon 3-D Project, Talbot 23-1 – Jefferson Davis Parish, Louisiana. On …

July 7, 2015 - 5:41 pm Analytics, Energy News
Coal Produced by Mountaintop Removal Mining Decreases by 62% Since 2008

Coal Produced by Mountaintop Removal Mining Decreases by 62% Since 2008

Mountaintop removal makes up most of West Virginia’s surface production

Coal production from the use of mountaintop removal (MTR) has declined by 62% since 2008, according to information from the Energy Information Administration (EIA). Total U.S. coal production was down …