Mullen Group Ltd. Reports Second Quarter Financial Results including Record Trucking/Logistics Segment Revenue
Mullen Group Ltd. Reports Second Quarter Financial Results including Record Trucking/Logistics Segment Revenue
American Midstream Partners Selling Propane Business, Redeploying Capital
In a $170 million cash transaction, American Midstream Partners (ticker: AMID)—which provides natural gas and oil gathering, processing, and transmission—has agreed to sell its propane business to SHV Energy. The sale includes American Midstream’s service locations, cylinder exchange program, and Alliant Gas utility system. Re-deploying capital American Midstream is undertaking the transaction with the intent of simplifying its business and
“North American Animal Spirits are Back With a Vengeance” – Halliburton Exec. Chairman Dave Lesar
HAL North American revenue up 24% sequentially Halliburton (ticker: HAL) announced second quarter results today, showing earnings of $28 million, or $0.03 per share. After adjusting for special charges, an expected promissory note in Venezuela, for example, quarterly results were earnings of $201 million, or $0.23 per share. As the world’s largest fracturing company, Halliburton has been able to take
How On Earth Will We ‘Normalize’ Oil Markets? OPEC Looks Inward
JMMC recommends capping Nigerian production OPEC may increase its efforts to moderate the global oil market, based on the results of its meeting in St. Petersburg today. OPEC’s oil cuts were implemented with the hope that temporarily reduced output would allow global inventories to return to normal levels and markets to stabilize. However, in large part this has not occurred
Don’t Miss Earnings Calls During Q2 Reporting Season
Oil & Gas 360® has brought its Industry Events Calendar tab back to life—along with the daily notification email of tomorrow’s earnings calls With the tidal wave of oil and gas earnings hitting the industry in the coming days and weeks, it’s helpful to have a single source where you can see which companies are reporting each day—at a calendar’s
Chinese Gasoline Exports Surge to Ease Domestic Glut
From Bloomberg Diesel shipments in first half jump 21% to almost 328,500 b/d Gasoline exports rise 8% in first half to nearly 222,000 b/d China’s diesel and gasoline exports surged in the first half of the year as a domestic supply glut and slowing demand growth prompted refiners to sell more fuel abroad. Diesel shipments jumped almost 21 percent in
Gingrich, Small Biz to Launch Major Tax Cut Campaign
From The Hill U.S. small-business owners are launching a nationwide blitz with former House Speaker Newt Gingrich to pressure Congress to pivot to tax relief after a frustrating summer of healthcare gridlock. The group is armed with a survey showing that small-business owners want tax relief more urgently than a repeal of ObamaCare, so that they can reinvest in their
LyondellBasell Ready to Build $2.4 Billion Houston Petrochem Plant
From the Houston Chronicle Largest plant of its kind in the world: capable of manufacturing 1 billion pounds of propylene oxide and 2.2 billion pounds of tertiary butyl alcohol per year The Houston petrochemical company LyondellBasell said it will move forward with its most expensive project ever, a $2.4 billion plant near the Houston Ship Channel that would become the largest factory of
Oil Rises as Saudi Arabia Pledges Deep Cut to August Exports
From Bloomberg Saudi Arabia will cap exports at 6.6 million barrels a day OPEC and non-OPEC to consider monitoring oil shipments Oil rose as Saudi Arabia said it would make deep cuts to its crude exports in August and encourage better compliance with supply reductions from other producers. Futures rose as much as 1.4 percent in New York. Saudi Arabia,
NuStar Energy Moves Forward with Two Cross-Border Pipeline Projects
From the San Antonio Business Journal After years of waiting, San Antonio-based midstream company NuStar Energy now has the green light to move forward with two cross-border pipeline projects in South Texas. The U.S. State Department issued three presidential permits on June 29 giving NuStar Energy LP (NYSE: NS) approval for a cross-border project in Laredo and another in Peñitas.
Native Exploration Secures $140 Million in Commitments from Kayne Anderson Energy Funds and Company Management
Kayne Anderson and members of the Native management team have collectively made capital commitments in excess of $140 million to the company, Native Exploration said in a statement. Native was founded by co-CEOs Lane Gibbs and Matt Whitaker with a focus in the Mid-Continent region, and the company is looking at opportunities in Oklahoma, specifically. Previously the Native founders were
