Sunday, August 3, 2025

WildHorse Borrowing Base Rises to $450 Million

WildHorse Resource Development’s (ticker: WRD) existing borrowing base under its $1.0 billion multi-year revolving credit facility was increased by its 15-lender bank group to $450 million from $362.5 million, the company announced today. WRD’s revolving credit facility matures in December 2021. The financial covenants were unchanged, the company said in a statement. Wildhorse is active in the Eagle Ford and North Louisiana Cotton Valley trend.

Cenovus Prices $2.9 Billion Offering of Senior Notes

Proceeds to go toward $17.7 billion Cenovus acquisition of ConocoPhillips’ oil sands and Deep Basin assets Canadian producer Cenovus Energy Inc. (ticker: CVE) has priced a US$2.9 billion offering of senior notes as part of the company’s previously announced financing plan to fund the purchase of assets in Western Canada from ConocoPhillips (ticker: COP). Cenovus is acquiring ConocoPhillips’ 50% interest in

Vertical Producers Seek Increase in Oklahoma Production Taxes

From The Oklahoman A group of small vertical oil producers has proposed raising Oklahoma’s gross production tax to 7 percent, an idea larger energy associations said is a non-starter for their members as the state faces a $878 million budget shortfall. The Oklahoma Energy Producers Alliance said it will hold a rally Wednesday at the Capitol, followed by meetings with

Cutting 3,200 EPA Jobs Won’t Be Easy

From E&E News How you do lay off thousands of U.S. EPA employees?  Slowly — and painfully. President Trump’s budget proposal for the next fiscal year would slash EPA funding by 31 percent, or $2.6 billion, leading to 3,200 fewer jobs at the agency. Shrinking the EPA workforce by that much would require serious time and effort — identifying the

Canadian Oil Disruption and OPEC Output Reductions are Opening the Door for Mexico to Step In

From Bloomberg Heavy Canadian crude’s discount to Maya is smallest since May Gulf Coast refineries seen taking cheaper Mexican supply Canadian crude shipments to the U.S. are poised to shrink just as the effects of OPEC-led output cuts are being felt in the Caribbean. That’s good news for Mexico and other local oil producers. Syncrude Canada Ltd. told customers they wouldn’t receive