Oil and Gas 360 Articles

Cold Winter Predictions Push NatGas Prices Up as Oil Slides

Cold Winter Predictions Push NatGas Prices Up as Oil Slides

Today the EIA put out its September Natural Gas Monthly, with data through July 2014. In the report, the U.S.’s July dry gas production of 70.4 Bcf/day set the record for “the highest ever for any month,” the EIA …

September 30, 2014 - 5:53 pm Oil and Gas 360 Articles
De-Risking East Texas:  PetroQuest Looks to Drill 18-20 Cotton Valley Horizontals in 2015

De-Risking East Texas:  PetroQuest Looks to Drill 18-20 Cotton Valley Horizontals in 2015

“The thing that we basically have done the best this year is de-risk a huge portfolio of assets in East Texas. East Texas now could be our largest area of growth. …”  – Charlie Goodson, Chairman, President and CEO

September 30, 2014 - 5:21 pm Oil and Gas 360 Articles
Encana Sees Big Potential in $7.1 Billion Acquisition of Permian Pure-Play Athlon Energy

Encana Sees Big Potential in $7.1 Billion Acquisition of Permian Pure-Play Athlon Energy

Calling the move “transitional,” Encana Corp. (ticker: ECA), Canada’s largest natural gas company, has announced it will acquire all shares and assume the senior notes of Fort Worth’s Athlon Energy (ticker: ATHL) in a US$7.1 billion cash offer, which Encana …

September 29, 2014 - 6:58 pm Canada, Mergers & Acquisitions, Oil and Gas 360 Articles
Magnum Hunter Resources Achieves Record Well in the Utica: 46.5 MMcf

Magnum Hunter Resources Achieves Record Well in the Utica: 46.5 MMcf

Takeaway Record for Eureka Hunter Follows

Magnum Hunter Resources (ticker: MHR) is betting big in the Marcellus/Utica, and a company announcement on September 24, 2014, supports its assessment. The Stewart Winland 1300U well in Tyler County, West Virginia, returned an …

September 29, 2014 - 5:21 pm Midstream, Oil and Gas 360 Articles
NiSource Joins the Crowd with New MLP Spin Off

NiSource Joins the Crowd with New MLP Spin Off

NiSource Inc. (ticker: NI) said yesterday it will file a registration statement for an IPO of common units for a new MLP whose assets will consist of a 14.6% interest in CPG OpCo LP, which will own the natural gas …

September 29, 2014 - 5:08 pm Midstream, MLPs, Oil and Gas 360 Articles
Higher Electricity Prices Coming From Constrained Pipeline Capacity

Higher Electricity Prices Coming From Constrained Pipeline Capacity

In a press release out yesterday, the House of Representatives Energy & Commerce Committee warned there was bad news for New England households and businesses:  electricity supplier National Grid told customers that they can expect to see significantly higher power …

September 26, 2014 - 5:40 pm Midstream, Oil and Gas 360 Articles, Regulatory
Colo. O&G Task Force Meets: “We Need to Define the Problem”

Colo. O&G Task Force Meets: “We Need to Define the Problem”

Yesterday, Governor Hickenlooper’s hand-picked Task Force regarding State and Local Regulation of Oil and Gas Operations met for the first time.  The 21 members are people within the Colorado community who represent oil and gas companies, environmental groups, the farming …

September 26, 2014 - 5:14 pm Oil and Gas 360 Articles, Regulatory
U.S. LNG Can Fulfill Global Demand for Cheap Energy: Panel

U.S. LNG Can Fulfill Global Demand for Cheap Energy: Panel

At one of today’s sessions at the 2014 Natural Gas Symposium in Denver, hosted by Colorado State University’s Energy Institute, panelists discussed global implications of the abundance and accessibility of North American natural gas and how the shale revolution is …

September 25, 2014 - 5:53 pm International, Oil and Gas 360 Articles
Colorado State University Initiates Real-time Water Quality Monitoring in the Wattenberg

Colorado State University Initiates Real-time Water Quality Monitoring in the Wattenberg

Hard Data Replaces Unknowns and Speculation

Colorado has upped its game with respect to putting a microscope on drinking water quality as it relates to oil and gas drilling and hydraulic fracturing operations in the state. A pilot program developed …

September 25, 2014 - 5:41 pm Oil and Gas 360 Articles
Cabot Oil & Gas Increases Stake in Eagle Ford, Adds Tenth Rig to Its Fleet

Cabot Oil & Gas Increases Stake in Eagle Ford, Adds Tenth Rig to Its Fleet

Cabot Oil & Gas (ticker: COG) is the second-largest producer by volume in the Marcellus Shale, but the E&P continues to dial up operations in another prolific shale play: the Eagle Ford.

On September 24, 2014, Cabot announced the acquisition

September 24, 2014 - 4:02 pm Mergers & Acquisitions, Oil and Gas 360 Articles
ONEOK Partners Doing its Part to Keep Up with Bakken Midstream Needs; Nearly Doubled Williston Pipeline Network Since 2012

ONEOK Partners Doing its Part to Keep Up with Bakken Midstream Needs; Nearly Doubled Williston Pipeline Network Since 2012

ONEOK has laid enough pipe to go from Dallas to NYC five times and it’s not nearly enough.

The current state of the United States oil and gas industry is indicative of a foot race between two Olympic athletes. In …

September 23, 2014 - 6:13 pm Midstream, MLPs, Oil and Gas 360 Articles
Oil & Gas Dividend: Lower Taxes for Homeowners, Debt Free Governance

Oil & Gas Dividend: Lower Taxes for Homeowners, Debt Free Governance

With signs outside the United Nations climate summit reading “Keep the Oil in the Ground,” there’s a breath of fresh air from the local scene in Colorado’s most active oil and gas county.

Weld County has some news: A debt-free …

September 23, 2014 - 6:00 pm Oil and Gas 360 Articles
CAMAC Energy: Third Analyst Initiates Coverage, Predicts Net Profit by 2015

CAMAC Energy: Third Analyst Initiates Coverage, Predicts Net Profit by 2015

Kase Lawal, Chairman and Chief Executive Officer of CAMAC Energy (ticker: CAK), first said 2015 will be the company’s most profitable year in history in its Q1’14 conference call. Since then, interest around the industry is building in anticipation …

September 23, 2014 - 5:44 pm International, Offshore, Oil and Gas 360 Articles
Europe’s No-Carbon Electricity Share Grows to 56%

Europe’s No-Carbon Electricity Share Grows to 56%

Nuclear and Hydro are Top Carbon-free Sources

Europe’s share of electricity from sources that generate little or no carbon dioxide is now at 56%, according to the EIA. France, Iceland, Norway, Sweden, and Switzerland top the list of European …

September 23, 2014 - 5:32 pm Oil and Gas 360 Articles
European Conglomerate Spends $7.6 Billion for a Role in United States Shale

European Conglomerate Spends $7.6 Billion for a Role in United States Shale

On September 22, 2014, Siemens (ticker: SIE), an $84 billion market cap engineering and electronics conglomerate based in Germany, announced the acquisition of Dresser-Rand (ticker: DRC) for $7.6 billion (Euros). Dresser-Rand is one of the world’s largest equipment suppliers in …

September 22, 2014 - 6:40 pm Fracing, Oil and Gas 360 Articles, Oilfield Services
While Estimated Costs Double, 42,000 U.S. Workers Sit Idle, and Still No Keystone XL Pipeline

While Estimated Costs Double, 42,000 U.S. Workers Sit Idle, and Still No Keystone XL Pipeline

After six years and 17,000 pages of environmental studies, TransCanada (ticker: TRP) is still waiting alongside an estimated 42,000 U.S. workers who could fill direct and indirect pipeline-related jobs. Sitting in the queue is the remaining 1,200 miles of oil …

September 22, 2014 - 6:11 pm Midstream, Oil and Gas 360 Articles, Regulatory
Colorado’s Oil & Gas Task Force Positive for Industry, Marwood Group Says

Colorado’s Oil & Gas Task Force Positive for Industry, Marwood Group Says

On September 9, 2014, Governor John Hickenlooper appointed 19 members to join a panel led by one oil and gas company president and one environmental activist.  The idea is to help guide decisions dedicated to regulating oil and gas development …

September 19, 2014 - 6:10 pm Oil and Gas 360 Articles
Alibaba’s $22B Grabs Single IPO Record, but Oil & Gas & MLP IPOs are on the Rise

Alibaba’s $22B Grabs Single IPO Record, but Oil & Gas & MLP IPOs are on the Rise

In case you missed it, Alibaba Group (ticker: BABA), the China-based e-commerce group, commenced the world’s largest initial public offering (IPO) today. Its release was delayed hours due to demand imbalances before finally reaching the market. The end result: $22 …

September 19, 2014 - 6:01 pm Oil and Gas 360 Articles

CNBC: Basic Energy Services CEO Roe Patterson

Basic Energy Services CEO Roe Patterson appeared on CNBC’s Mad Money with Jim Cramer to discuss current pricing trends, the outlook for oil and gas production in North America, as well as BAS’ share appreciation year-to-date.

Important disclosures: The information …

September 19, 2014 - 6:00 pm Oil and Gas 360 Articles
Oklahoma: Continental Resources Discovers the Springer Shale

Oklahoma: Continental Resources Discovers the Springer Shale

“We bought one shale and got another one for free.”

Continental Resources (ticker: CLR), the nation’s eighth-largest E&P based on market capitalization, held its 2014 Analyst Day today in Oklahoma City, its first since 2012.

The Springer Shale is Unveiled

Well Casing and Cement Failures—Not Fracing—Led to Contaminated H2O Wells

Well Casing and Cement Failures—Not Fracing—Led to Contaminated H2O Wells

Duke, Ohio State, Stanford, Dartmouth, Rochester scientists conclude that failed pipe and cement allowed gas to leak

The first peer-reviewed comprehensive studies testing drinking water quality and any links to nearby shale gas production have found that the well completion …

September 18, 2014 - 4:48 pm Fracing, Oil and Gas 360 Articles, Oilfield Services
Shale Boom Benefits Keep Piling Up

Shale Boom Benefits Keep Piling Up

The benefits of the shale boom are apparent. In the six year span from 2008 to 2013, crude oil production in the United States jumped by 43.7% (12,311 MBOEPD in 2013 compared to 8,563 MBOEPD) and gas production climbed 20% …

September 17, 2014 - 7:09 pm Fracing, Midstream, Oil and Gas 360 Articles
Proposed Projects Would Move Colorado Oil to Oklahoma, California

Proposed Projects Would Move Colorado Oil to Oklahoma, California

Cushing, Oklahoma’s giant crude oil storage hub will be linked to Colorado’s Niobrara/Codell shale oil production upon construction and completion of a new 550-mile pipeline between Weld County Colorado’s Wattenberg field and NGL Energy Partners’ (ticker: NGL) Cushing terminal.

When …

September 16, 2014 - 6:49 pm Midstream, Oil and Gas 360 Articles, Oilfield Services
Bill Barrett Corp. Simplifies Rocky Mountain Portfolio in $757 Million Deal

Bill Barrett Corp. Simplifies Rocky Mountain Portfolio in $757 Million Deal

Company will Operate in Only 2 Basins: DJ and Uinta; Deal Eliminates 57% of BBG’s Net Debt

Bill Barrett Corporation (ticker: BBG), an exploration and production company focused on the Rocky Mountain region, has shifted its asset position in a …

September 16, 2014 - 6:22 pm Finance, Oil and Gas 360 Articles, Oilfield Services
Brookings Study Finds Multiple Benefits from Immediately Lifting U.S. Crude Export Ban

Brookings Study Finds Multiple Benefits from Immediately Lifting U.S. Crude Export Ban

The Brookings Institute released a study last week comparing the effects of immediate lifting of the U.S. crude oil export ban vs. delaying till 2020.

The study data showed a positive uptick for the GDP in all cases, a 0.14 …

September 15, 2014 - 6:56 pm Oil and Gas 360 Articles, Oilfield Services, OPEC
E&Ps Finding the Powder River Basin is an Oil Play

E&Ps Finding the Powder River Basin is an Oil Play

The Powder River Basin (PRB), an area in Wyoming traditionally exploited for its coal resources and coalbed methane gas opportunities, has more than doubled its oil output since 2009. The Energy Information Administration’s (EIA) Today in Energy segment for September …

September 15, 2014 - 5:03 pm Fracing, Oil and Gas 360 Articles, Oilfield Services
A rig site in North Dakota

Another Record for North Dakota: 1.1 Million Barrels of Crude per Day

Flaring decreases to 26%

The State of North Dakota has chalked up another record. July production numbers are in—the state produced 1,110,642 barrels of oil per day in July. The numbers broke down as follows:

  • Bakken/Three Forks Shale:  1,047,034 BOPD
September 12, 2014 - 6:33 pm Fracing, Oil and Gas 360 Articles, Oilfield Services, Regulatory
U.S. Energy: EU’s Alternative to Russia?

U.S. Energy: EU’s Alternative to Russia?

The European Union (EU) and United States levied more sanctions on Russia today in an effort to hamper the country’s already struggling economy. The latest sanctions primarily target Russia’s oil industry and military equipment. Supermajors participating in projects with Russia’s …

Oil Prices Unaffected despite Additional Russia Sanctions and Obama’s Pledge to Ramp up Action in Middle East

Oil Prices Unaffected despite Additional Russia Sanctions and Obama’s Pledge to Ramp up Action in Middle East

President Obama addressed the nation on Wednesday night, urging Congress to increase funding, assistance and conduct “a series of strategic airstrikes” against the Islamic State, or ISIL, the group marching across Iraq that recently beheaded two American journalists on …

Government Agencies Backing Up Claim to Grant Speedy LNG Export Approvals

Government Agencies Backing Up Claim to Grant Speedy LNG Export Approvals

In May 2014, the United States government announced intentions to accelerate the review process for LNG exports. The decision came when tensions were rising among Russia and the rest of Europe regarding its involvement in Ukraine. Europe threatened sanctions and …