2015 – Page 835 – Oil & Gas 360

Valero Aims to Sustain CapEx, Dividend Growth in 2015

January 13, 2015

Despite the tumbling price of oil, Valero looks to sustain expenditures and continue to grow dividends Valero (ticker: VLO), the world’s largest independent refiner, released a presentation last week setting the company’s many objectives for 2015. In the face of the challenging market, Valero has implemented goals to maintain capital expenditures and grow dividends next year. In the company’s presentation,

Permian Production Nearing 2 MMBOPD in Latest EIA Report

January 12, 2015

The Drilling Productivity Report, released monthly by the Energy Information Administration, expects production in all seven listed regions to rise in February even though companies are laying down rigs and reducing operations. The two respective giants of the oil and gas plays are leading the charge, with the Permian projected to increase its output to 1,929 MBOPD and the Marcellus

$40 Oil? That’s How Low Goldman Sachs Says It Needs to Go

January 12, 2015

Story by Bloomberg Oil prices, which have fallen by more than half since June, need to drop even further and stay there for the first half of the year for the market to find a balance between supply and demand, Goldman Sachs Group Inc. says. With OPEC resisting a production cut to stem the price slide, output reductions will come

Core Lab Announces Q1 2015 Quarterly Dividend; Increases Quarterly Dividend By 10% To $0.55 Per Share

January 12, 2015

The Board of Supervisory Directors of Core Laboratories N.V. (NYSE: “CLB US” and Euronext Amsterdam: “CLB NA”) has announced a cash dividend of $0.55 per share of common stock payable in the first quarter of 2015. This amount represents a 10% increase over the quarterly dividends of $0.50 per share that were paid in 2014. On an annualized basis, this

Australia and India Look to Increase Cooperation in LNG

January 12, 2015

A memorandum of understanding signed between Woodside and Adani is set to strengthen ties in the LNG sector Australian energy major Woodside Petroleum Ltd (ticker: WPL) and India’s infrastructure conglomerate Adani Enterprises Ltd (ticker: ADANIENT) signed a memorandum of understanding (MOU) last week for cooperation in exploring opportunities in India’s oil and gas sector. The MOU, signed on January 10,

Despite Road Bumps for Other Projects, Alaska LNG Moves Forward

January 12, 2015

Alaska’s LNG “gigaproject” moving forward despite low prices While many liquid natural gas (LNG) projects are being put on the back burner due to the low oil price environment, the Alaska LNG project continues to march on. The project, which is being developed by a partnership including energy majors BP (ticker: BP), ExxonMobil (ticker: XOM), ConocoPhillips (ticker: COP) and TransCanada

Barclays Initiates Coverage on Oilservice Sector with “Neutral” Outlook

January 12, 2015

Barclays’ coverage initiation on the oilservice sector last week could very well be summed up in two words: budget cuts. The London-based banking company says approximately 90% of the oilservice group is historically correlated to oil prices, and the dropping price will result in reduced budgets for E&Ps in the upcoming year. With less available capital for E&Ps, the oilservice

Northern Oil and Gas: Large Non-Operator in Bakken/Three Forks

January 12, 2015

Northern’s New Website Tells the “One Step Ahead of the Drill Bit” Story with Jumbo Graphics, Maps and Aerial Photography Northern Oil and Gas, Inc. (ticker: NOG), is an independent oil and gas producer that has one of the largest non-operated leasehold positions in the Williston Basin. Northern controls almost 185,000 net mineral acres in the heart of the Bakken and

Oil Plunge Boosts U.S. Natural Gas Imports to 7-Year High

January 9, 2015

Story by Bloomberg The plunge in global crude oil prices has helped boost U.S. natural gas imports to the most in at least seven years, even as the country prepares to start exporting cargoes. Deliveries to onshore pipelines from liquefied natural gas terminals in Massachusetts and Maryland on Jan. 8 were the most in data going back to December 2007,

TransGlobe Energy Corporation 2015 Guidance and Corporate Update

January 9, 2015

TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (TGL.TO) (TGA) is pleased to provide 2015 capital guidance, Q1-2015 production and funds flow guidance and Q4-2014 operational and financial highlights. All dollar values are expressed in United States dollars unless otherwise stated. 2015 CAPITAL GUIDANCE (Exploration and Development) TransGlobe’s 2015 capital program is significantly lower than the previous year, reflecting the dramatic

DNB Sees Bullish Signals in the Oil Patch

January 9, 2015

$70-$100 per Barrel for the Coming 5-10 Years In its Oil Market Report sent to clients today, DNB Bank’s Oslo research team led by oil market analyst Torbjørn Kjus, said “we now believe prices have dropped to unsustainably low levels and our oil price forecast is now bullish vs the whole forward strip.” In its analysis, DNB sees the 20%-30% CapEx

Gulf of Mexico Continues Strong Performance, Even as Oil Prices Remain Low

January 9, 2015

Unconventional wells are becoming more economically difficult as prices remain low With oil losing more than 50% of its value in six short months, United States shale producers are increasingly feeling the market squeeze as they struggle to competitively price their product in the global sphere. In June of 2014, when West Texas Intermediate (WTI) prices reached a high of

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