Archive for August, 2015

Oil Prices Fall Below $44 as Rigs Continue Climb

Oil Prices Fall Below $44 as Rigs Continue Climb

Oil rig counts climb for third straight week

The total number of rigs actively drilling in the United States rose by ten this week, reaching 884, according to the latest rig count from Baker Hughes (ticker: BHI). The number of …

Energy XXI to Present at EnerCom Oil and Gas Conference

Energy XXI to Present at EnerCom Oil and Gas Conference

August 7, 2015 - 1:00 pm 360 Company Releases
Source: XOM

Refinery Inputs Reach Record-High 17 Million Barrels per Day

The rolling four-week average of refinery inputs exceed the five-year average every week this year

Gross inputs to U.S. refineries exceed 17 million barrels per day (MMBOPD) in each of the past four weeks, the highest level of refinery inputs

August 7, 2015 - 11:37 am Downstream, Oil and Gas 360 Articles

Mortgage rates fall again amid economic uncertainty

Story by The Washington Post

Eight weeks ago, it appeared that the days of 30-year fixed rate mortgages at less than 4 percent were a thing of the past. But recent economic uncertainty has sent those rates tumbling, which is …

August 7, 2015 - 10:56 am Energy News

Board of Brazil’s Petrobras approves plan for fuel unit IPO

Story by Reuters

The board of Petróleo Brasileiro SA has approved a plan to request regulatory permission to list the state-controlled oil producer’s fuel distrbution unit on the São Paulo Stock Exchange.

In a securities filing distributed early on Friday, …

August 7, 2015 - 10:53 am Energy News

Miller Energy Responds to Initiation of Civil Administrative Proceeding by SEC

Miller Energy Responds to Initiation of Civil Administrative Proceeding by SEC

August 7, 2015 - 8:01 am 360 Company Releases

Magnum Hunter Resources Reports Second Quarter and YTD 2015 Financial and Operating Results

Magnum Hunter Resources Reports Second Quarter and YTD 2015 Financial and Operating Results

August 7, 2015 - 7:00 am 360 Company Releases

Dawson Geophysical Reports Second Quarter 2015 Results

Dawson Geophysical Reports Second Quarter 2015 Results

August 7, 2015 - 6:00 am 360 Company Releases
Oil Prices: The Argument for a V-Shaped Recovery

Oil Prices: The Argument for a V-Shaped Recovery

  • Are we in the Middle of a V-Shaped Recovery that’s N-Shaped?

  • “Prices are too low for everybody”: Saudi Oil Chairman

Oil prices have been beaten down enough.

“Notorious” is an accurate descriptor of the oil and gas industry. When business …

Teekay Tankers Increases Fleet Size 60% with $662 Million Purchase

Teekay Tankers Increases Fleet Size 60% with $662 Million Purchase

Teekay purchases 12 Suezmax tankers

Teekay Tankers Ltd. (ticker: TNK) announced yesterday that the company purchased 12 Suezmax tankers from Principal Maritime for $662 million. The purchase will increase Teekay’s fleet size by 60%, and be immediately accretive to the …

August 6, 2015 - 6:46 pm Midstream, Oil and Gas 360 Articles

Magnum Hunter Resources Announces the Appointment of an Executive Vice President and Chief Operating Officer

Magnum Hunter Resources Announces the Appointment of an Executive Vice President and Chief Operating Officer

August 6, 2015 - 6:06 pm 360 Company Releases

Tesoro CEO: Uinta Basin drilling for waxy crude has ‘dried up’

Oil drilling in Utah’s Uinta Basin has “dried up” in light of low crude prices, and will affect availability of the waxy crude prevalent there, Tesoro Corp Chief Executive Greg Goff told analysts on Thursday.

Tesoro recently finished a $275 …

August 6, 2015 - 5:43 pm Energy News

FX Energy Announces Process to Explore Sale of Company

FX Energy, Inc. (NASDAQ: FXEN) today announced that its Board of Directors has commenced a process to explore a possible sale of the Company or other transaction. The Company has engaged Evercore Group L.L.C. as its financial advisor to assist …

August 6, 2015 - 5:41 pm Energy News
Magellan Midstream Reports 21% Year-over-Year Income Growth

Magellan Midstream Reports 21% Year-over-Year Income Growth

Magellan Midstream reports second quarter results

Oklahoma-based Magellan Midstream (ticker: MMP) reported its second quarter financial results, showing 21% in year-over-year income growth. In Q2, MMP reported $177.4 million in net income, an increase of $31.1 million from $146.3 …

August 6, 2015 - 4:46 pm Midstream, MLPs, Oil and Gas 360 Articles

VAALCO Energy Announces Second Quarter 2015 Results

VAALCO Energy Announces Second Quarter 2015 Results

August 6, 2015 - 4:42 pm 360 Company Releases
Rosneft HQ with Kremlin in the background Source: Rosneft

Russia is the World’s Largest Producer of Crude Oil and Lease Condensate – EIA

Russia produced roughly 10.9 MMBOPD in 2014

While the United States became the world’s largest producer of hydrocarbons in 2014, Russia remained the largest producer of crude oil and lease condensate, according to the U.S. Energy Information Administration (EIA). …

Trans-Alaska oil pipeline

Paramount Resources Reports Q2 Results

Paramount Resources Ltd. Announces Second Quarter 2015 Results; Sales Volumes Increase 107% to 42,604 Boe/d; Liquids Sales Volumes Increase 320% to 16,877 Bbl/d

OIL AND GAS OPERATIONS

  • Second quarter 2015 sales volumes were 42,604 Boe/d, 107 percent higher than the
August 6, 2015 - 3:47 pm Canada
Canadian Natural Resources Announces Q2 and Dividend

Canadian Natural Resources Announces Q2 and Dividend

Canadian Natural Resources Limited Announces 2015 Second Quarter Results

Commenting on second quarter results, Steve Laut, President of Canadian Natural stated, “Canadian Natural is in a strong position. Our strong, diverse and well balanced asset base, and the effectiveness of …

August 6, 2015 - 3:44 pm Canada

ExxonMobil Signs Agreements to Increase Position by 48,000 Acres in Permian Basin

Exxon Mobil Corporation (XOM) today announced it has executed two agreements to obtain horizontal development rights in 48,000 acres in the core of the Midland Basin.

The two agreements include an acquisition and farm-in adjoining XTO’s existing acreage …

August 6, 2015 - 11:46 am Energy News
Natural Gas Roundup for the Week Ended July 31, 2015

Natural Gas Roundup for the Week Ended July 31, 2015

roundup2NATURAL GAS INVENTORY (Week Ended 7/31/15)

Current: 2,912 Bcf

Actual Injection/(Withdrawal) per EIA: 32 Bcf

Economist Average Estimate per Bloomberg: 41 Bcf

Previous: 2,880 Bcf

Click here for the chart with five year averages.

Click here for an archive of

August 6, 2015 - 10:46 am Oil and Gas 360 Articles

Obama spurns natural gas in climate rule

Story by The Hill

President Obama’s love affair with natural gas is over.

The president once touted gas as an essential clean bridge fuel to wean the United States off dirtier fossil fuels and onto renewable energy, and it was …

August 5, 2015 - 6:41 pm Energy News

SandRidge Energy, Inc. Names New Chief Financial Officer

SandRidge Energy, Inc. (SD) today announced that it has appointed Julian Bott as Executive Vice President and Chief Financial Officer of the company. Mr. Bott, who most recently served as Chief Financial Officer at Texas American Resources Company …

August 5, 2015 - 5:38 pm Energy News

Yuma Energy, Inc. Declares Monthly Dividend on Its Series A Cumulative Redeemable Preferred Stock

Yuma Energy, Inc. (NYSE MKT: YUMA) (NYSE MKT: YUMA-PA) (the “Company”) today announced that its Board of Directors has declared a monthly cash dividend payment on the Company’s 9.25% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”).…

August 5, 2015 - 5:32 pm Energy News

Yuma Energy, Inc. Declares Monthly Dividend on Its Series A Cumulative Redeemable Preferred Stock

Yuma Energy, Inc. Declares Monthly Dividend on Its Series A Cumulative Redeemable Preferred Stock

August 5, 2015 - 5:00 pm 360 Company Releases
Whitecap Resources Reports Q2 Results

Whitecap Resources Reports Q2 Results

Whitecap Resources Inc. announces second quarter 2015 results and increased production guidance

 Whitecap Resources Inc. (“Whitecap” or the “Company”) (WCP.TO) is pleased to report its operating and unaudited financial results for the three and six months ended June …

August 5, 2015 - 4:37 pm Canada

SandRidge Energy, Inc. Names New Chief Financial Officer

SandRidge Energy, Inc. Names New Chief Financial Officer

August 5, 2015 - 4:36 pm 360 Company Releases
Gran Tierra Energy Reports Q2 Results

Gran Tierra Energy Reports Q2 Results

Gran Tierra Energy Inc. Announces Second Quarter 2015 Results

CALGARY, Aug. 5, 2015 /PRNewswire/ – Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE MKT: GTE, TSX: GTE), a company focused on oil and gas exploration and …

August 5, 2015 - 4:32 pm Canada
Bellatrix Exploration Reports Q2 Results

Bellatrix Exploration Reports Q2 Results

Bellatrix Exploration Ltd. Announces Second Quarter 2015 Financial Results

CALGARY, Aug. 5, 2015 /PRNewswire/ – Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX, NYSE: BXE) announces its financial and operating results for the three and six months ended June 30,

August 5, 2015 - 4:28 pm Canada
Legacy Reserves LP Reports Q2 Results

Legacy Reserves LP Reports Q2 Results

Legacy Reserves LP Announces Second Quarter 2015 Results

Legacy Reserves LP (“Legacy”) (LGCY) today announced second quarter results for 2015.

Q2 highlights include:

  • Production of 33,571 Boe/d
  • Lease operating expense (excluding ad valorem taxes) of $42.8 million, a
August 5, 2015 - 4:25 pm MLPs
Oil & Gas 360 Energy News

DCP Midstream Partners Reports Q2

DCP Midstream Partners Reports Second Quarter 2015 Results

  • Reported Adjusted EBITDA of $150 million, up 36 percent from the second quarter of 2014
  • Generated Distributable Cash Flow of $141 million, up 52 percent from the second quarter of 2014, resulting
August 5, 2015 - 4:22 pm MLPs