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 long-term project financing. Under the current sanctions regime, loans to Russia can be no longer than 30 days if they
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 induced seismicity in oil and gas drilling regions. A total of 13 states partnered in the project, including Oklahoma, where
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, McCarthy is the overwhelming favorite to win the job, and his only announced opponent so far is Rep. Daniel Webster,
From The Wall Street Journal Alcoa Inc. said Monday it would split in two, a move that would isolate the company’s more profitable parts-making units from its raw aluminum operations. The split is one of the most dramatic corporate consequences of the commodities bust driven by a slowdown in Chinese economic growth. As it consumes less, China has found itself
From The Los Angeles Times It took nature millions of years to figure out how to turn energy from the sun into chemical energy that can be stored for a cloudy day – a process known as photosynthesis. It took Peidong Yang, a chemist at UC Berkeley, about 10 years to accomplish a similar feat with the help of semiconductor
ETE Becomes Largest Energy Infrastructure Group Enterprise Value Now Exceeds that of BP, Total and Petrobras Energy Transfer Equity’s (ticker: ETE) long pursuit of Williams Companies (ticker: WMB) has come to an end. On September 28, 2015, ETE announced the acquisition of WMB for total consideration of $37.7 billion, including debt, representing a 10% premium to WMB stock price prior
Sanchez Production Partners (ticker: SPP), a midstream-focused Master Limited Partnership, increased its footprint in the Eagle Ford with a $345 million cash acquisition announced on September 28, 2015. The assets, purchased from Sanchez Energy Corporation (ticker: SN) consist of 150 miles of gathering lines and associated infrastructure in four gathering and processing facilities. The transaction is expected to close in
HOUSTON–(BUSINESS WIRE)– Halliburton Company (HAL) and Baker Hughes Incorporated (BHI) today announced that the companies will market for sale additional businesses in connection with Halliburton’s pending acquisition of Baker Hughes. Pursuant to the Merger Agreement, and in order to permit completion of Halliburton’s acquisition of Baker Hughes, the following additional businesses are intended to be divested: Halliburton’s expandable liner hangers
From The Wall Street Journal RIO DE JANEIRO—The trust that manages the $41 billion endowment of the Bill and Melinda Gates Foundation is suing Brazil’s Petróleo Brasileiro SA and its auditor in a New York court, claiming a vast corruption scheme centered on the state-run oil company caused the charitable organization to lose tens of millions of dollars. The Bill
Bill Barrett Corporation Announces Reaffirmation of $375 Million Borrowing Base, the Sale of Non-Core Uinta Basin Properties for Cash Proceeds of $27 Million, and Lower 2015 Capital Expenditure Guidance – Borrowing base under the bank credit facility reaffirmed at $375 million with zero currently drawn – Sale of non-core Uinta Basin properties for cash proceeds of $27 million enhances liquidity – DJ
Decision to leave the Alaskan Arctic a combination of factors Royal Dutch Shell (ticker: RDSA) announced today that it plans to put an end to its operation offshore Alaska, according to a company press release. The news came following results from the company’s Burger J exploration well, which was drilled to a total depth of 6,800 feet. While the company
CALGARY, ALBERTA–(Marketwired – Sept. 28, 2015) – Athabasca Oil Corporation (TSX:ATH) (“Athabasca” or “the Company”) is pleased to provide an update on recent operational activities. Athabasca achieved first oil at Hangingstone in July. The Company now has 15 well pairs on production with an additional six well pairs on circulation. Bitumen production has averaged 3,200 bbl/d to date in September with
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