Archive for September, 2015

Mexico Sells Three of Five Blocks in Latest Oil Auction

Mexico Sells Three of Five Blocks in Latest Oil Auction

Mexico Sells 60% of Blocks in Second Auction, Compared to Just 14% in the First Round

Mexico’s National Hydrocarbon Commission heard plenty of criticism following its first oil auction in July, in which only two of the 14 available offshore

Source: Gazprom. LNG Tanker

Jordan Cove Receives Final Environmental Approval for $7 Billion LNG Project

FERC approves the first West Coast LNG Export Facility

The Federal Energy Regulatory Commission (FERC) gave its final environmental approval for the Jordan Cove LNG project and the Pacific Connector Gas Pipeline in Oregon, according to a FERC release. …

September 30, 2015 - 6:40 pm LNG, Oil and Gas 360 Articles
Source: Iraqenergy.org

OPEC Production Falls by 233 MBOPD in September

Survey of oil companies, producers and analysts shows declines in OPEC output

OPEC production declined in September, led by lower output in the group’s three-biggest producers, according to a survey conducted by Bloomberg. The survey was taken of oil …

Nighthawk Energy Restarts Drilling Program with Margin Improvements in Tow

Nighthawk Energy Restarts Drilling Program with Margin Improvements in Tow

The drilling program of Nighthawk Energy plc (ticker: HAWK.L) is up and running again, and new arrangements in its marketing firm agreements are expected to provide increased upside in the second half of 2015.

The plan to drill the first …

ExxonMobil to Sell Torrance Refinery to PBF Energy

TORRANCE, Calif.–(BUSINESS WIRE)–ExxonMobil has reached an agreement with PBF Energy, Inc. for the sale and purchase of its refinery in Torrance, California, a lubricants distribution center at Vernon, products terminals at Vernon and Atwood, and associated California …

September 30, 2015 - 5:35 pm Energy News

Concho Resources Inc. Announces Public Offering of Common Stock

MIDLAND, Texas–(BUSINESS WIRE)– Concho Resources Inc. (NYSE: CXO) (the “Company”) today announced the launch of an underwritten public offering of 7,000,000 shares of common stock. The underwriters will have an option to purchase up to an additional 1,050,000 shares of …

September 30, 2015 - 5:20 pm Energy News

PBF Energy to Purchase the Torrance Refinery and Related Logistics Assets and Announces Senior Management Changes

PARSIPPANY, N.J.–(BUSINESS WIRE)–PBF Energy Inc. (NYSE:PBF) announced today that its subsidiary has signed a definitive agreement to purchase the 155,000 barrel-per-day Torrance refinery, and related logistics assets, from ExxonMobil. With the acquisition, PBF will increase its total …

September 30, 2015 - 4:58 pm Energy News
Interview with Paul McKinney, Executive Vice President & COO of Yuma Energy at The Oil & Gas Conference® 20

Interview with Paul McKinney, Executive Vice President & COO of Yuma Energy at The Oil & Gas Conference® 20

Yuma Energy’s COO, Paul McKinney, speaks with Oil & Gas 360® in an exclusive video interview at EnerCom’s The Oil & Gas Conference® 20.

Yuma Energy – The Oil & Gas Conference® 20 Webcast

September 30, 2015 - 4:56 pm Oil and Gas 360 Articles, Straight Answers, TOGC, Videos

Schlumberger Deal With Russian Drilling Company Called Off

From The Wall Street Journal

LONDON— Schlumberger Ltd. on Wednesday backed out of a $1.7 billion deal for a stake in Russia’s largest onshore drilling firm after Moscow didn’t approve the deal by a deadline imposed by the Western oil-services …

September 30, 2015 - 4:55 pm Energy News
Ukraine to Purchase $1.3 Billion in NatGas from Russia

Ukraine to Purchase $1.3 Billion in NatGas from Russia

Ukraine and Russia agree on a new “Winter Deal”

After months of negotiation mediated by the European Union, Russia and Ukraine have come to an agreement on the price for gas from Russian monopoly Gazprom (ticker: OGZPY) for the coming …

September 30, 2015 - 4:46 pm International, Oil and Gas 360 Articles
TransCanada Will Vacate Courts in Favor of a Nebraska Public Service Commission Approval for Keystone XL Pipeline

TransCanada Will Vacate Courts in Favor of a Nebraska Public Service Commission Approval for Keystone XL Pipeline

Five independent reviews say pipeline could be constructed and operated safely

Calgary-based TransCanada (ticker: TRP) announced today that it will file an application with the Nebraska Public Service Commission (PSC) to seek approval for the Keystone XL route through the …

September 30, 2015 - 4:39 pm Canada, Midstream, Oil and Gas 360 Articles

Teekay Announces Signing of $1 Billion Framework Cooperation Agreement With Export-Import Bank of China

HAMILTON, BERMUDA–(Marketwired – Sept. 30, 2015) – Teekay Corporation (Teekay or the Company) (NYSE:TK) announced today it has entered into a Framework Cooperation Agreement with The Export-Import Bank of China (CEXIM) for up to $1 billion …

September 30, 2015 - 3:23 pm Energy News
China has Reduced its Shale Drilling & Completion Costs by 23%

China has Reduced its Shale Drilling & Completion Costs by 23%

As China looks for way to meet more of its natural gas demand domestically, it has looked to improving the economics of its own shale gas development. While China is one of four countries currently producing commercial volumes of shale …

Presidential Candidates on Energy: Fiorina

Presidential Candidates on Energy: Fiorina

Gives thumbs up to Keystone and crude oil exports

Former Hewlett Packard CEO Carly Fiorina is running for the 2016 Republican nomination. Fiorina talked about energy in an interview with The Fuse in June. Here is a summary of her …

September 30, 2015 - 12:52 pm Oil and Gas 360 Articles, Politics & Opinions

C&J Energy Services Announces Amendments to Credit Facilities & Operational Update

HAMILTON, Bermuda, Sept. 30, 2015 /PRNewswire/ — C&J Energy Services Ltd. (CJES) (“C&J” or the “Company”) today announced that it has entered into a waiver and second amendment (the “Waiver and Second Amendment”) and a third amendment (the …

September 30, 2015 - 11:56 am Energy News
Oil & Gas 360 Energy News

Ferrellgas Partners, L.P. Reports Record Adjusted EBITDA for Fiscal 2015

OVERLAND PARK, Kan., Sept. 29, 2015 (GLOBE NEWSWIRE) — Ferrellgas Partners, L.P. (NYSE:FGP) today announced record Adjusted EBITDA of $300.2 million for fiscal 2015, up 4% from the previous year of $288.1 million despite temperatures that were 8% …

September 30, 2015 - 10:36 am Energy News, MLPs
An Interview with Manitok Energy CEO Mass Geremia –  Part Two

An Interview with Manitok Energy CEO Mass Geremia –  Part Two

Manitok Energy Talks 2015-16 Drill Plans, Hedging, Liquidity and 18-Month Outlook

Manitok Energy (ticker: MEI) is a conventional operator focused on projects in Alberta, and the company has spent the last several years amassing a considerable land position with output …

Lonestar Resources Projecting Volume Records from Eagle Ford Shale

Lonestar Resources Projecting Volume Records from Eagle Ford Shale

CEO Bracken: “The Time has Come” for Acquisition Opportunities

Lonestar Resources (ticker: LNREF), a Fort Worth-based exploration and production company with operations focused on the Bakken and Eagle Ford shales, expects to set company production records in Q3’15 based on …

Energy XXI Lowers LOE by 30%, G&A by 36%

Energy XXI Lowers LOE by 30%, G&A by 36%

Energy XXI announces fiscal year-end results

Houston-based Energy XXI (ticker: EXXI) announced its 2015 year-end fiscal results today. According to a press release from the company, production remained stable into fiscal first quarter at approximately 58 MBOEPD (71% oil …

Energy XXI Reports Fiscal Year-End Results

Energy XXI Reports Fiscal Year-End Results

September 29, 2015 - 5:31 pm 360 Company Releases
Presidential Candidates on Energy: Bush

Presidential Candidates on Energy: Bush

“Let the US Export Oil and Natural Gas”

Former Florida Governor Jeb Bush released his official energy plan today, outlining four initiatives that his plan states will create one million manufacturing jobs.

  1. Lift Restrictions on Exports of Oil and Natural
September 29, 2015 - 4:22 pm Oil and Gas 360 Articles, Politics & Opinions
Shell Looks to Drill at least Two Exploratory Wells Offshore Nova Scotia

Shell Looks to Drill at least Two Exploratory Wells Offshore Nova Scotia

Shell has four ships on standby

Shell Canada (ticker: RDSA) has four ships on standby in Halifax Harbor as company waits for approval to drill offshore Nova Scotia. The company expects to begin drilling two exploration wells in the Shelburne …

September 29, 2015 - 3:08 pm Canada, International, Offshore, Oil and Gas 360 Articles
National Elections in Canada are Less than Three Weeks Away

National Elections in Canada are Less than Three Weeks Away

The three-way race for the seat of  Prime Minister of Canada

Elections for the head of Canada’s federal government are set to take place October 19, less than three weeks from now. The latest national poll shows the Conservatives at …

September 29, 2015 - 3:05 pm Canada, Oil and Gas 360 Articles, Politics & Opinions
Trans-Alaska oil pipeline

Prince Rupert Gas Transmission Signs Project Agreement With Metlakatla First Nation

PRINCE RUPERT, BRITISH COLUMBIA–(Marketwired – Sept. 29, 2015) – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that its Prince Rupert Gas Transmission project (PRGT) has signed a Project Agreement with the Metlakatla First Nation, a member of the Coast Tsimshian …

September 29, 2015 - 3:00 pm Canada, Energy News
Terra Energy Closes Sale of Non-Core Assets

Terra Energy Closes Sale of Non-Core Assets

CALGARY, ALBERTA–(Marketwired – Sept. 29, 2015) – Terra Energy Corp. (“Terra” or the “Company”) (TSX:TT) is pleased to announce that the Company has closed the previously announced sale of certain of the Company’s non-core, P&NG assets in the Boundary Lake …

September 29, 2015 - 2:50 pm Canada, Energy News
Russia Turning to China for Long-Term Funding

Russia Turning to China for Long-Term Funding

Chinese Fund Buys 9.9% Stake in $27 Billion Russian LNG Project

Since the implementation of U.S. sanctions against Russia for its actions in Crimea, one of the major challenges facing the Russian oil and gas industry is gaining access to

September 29, 2015 - 2:44 pm International, LNG, Midstream, Oil and Gas 360 Articles, Popular

Resolute Energy Corporation Announces Limited Marketing Process for Gardendale Property in Permian Basin

Resolute Energy Corporation Announces Limited Marketing Process for Gardendale Property in Permian Basin

September 29, 2015 - 2:05 pm 360 Company Releases
Thirteen States Release Joint Report on Seismic Activity

Thirteen States Release Joint Report on Seismic Activity

StatesFirst Report Covers Effects from Disposal Wells, NOT Hydraulic Fracturing

StatesFirst, a joint initiative led by the Interstate Oil and Gas Compact Commission (IOGCC) and the Ground Water Protection Council (GWPC), has released guidance and findings related to reports of …

4 things businesses should know about Kevin McCarthy (likely the next House Speaker)

From The Business Journals

It’s official: Kevin McCarthy, who has been the Republicans’ No. 2 leader in the House, announced his candidacy Monday afternoon to succeed John Boehner as House Speaker.
Although he’s served in Congress for only nine years, …

September 29, 2015 - 12:27 pm Energy News

Core Lab Presents At Johnson Rice Energy Conference

Core Lab Presents At Johnson Rice Energy Conference

September 29, 2015 - 11:30 am 360 Company Releases