Articles by: Oil & Gas 360

Phillips 66 Announces 2015 Capital Program

Phillips 66 (PSX) announces its 2015 capital budget of $4.6 billion. These investments are intended to support midstream business growth, including that of the company’s master limited partnership, Phillips 66 Partners LP, as well as ensure ongoing operating …

December 5, 2014 - 5:30 pm Energy News
Natural Gas Roundup for the Week Ended November 28, 2014

Natural Gas Roundup for the Week Ended November 28, 2014

roundup2NATURAL GAS INVENTORY (Week Ended 11/28/14)

Current: 3,410 Bcf

Actual Injection/(Withdrawal): (22) Bcf

Economist Average Estimate: (40) Bcf

Previous: 3,432 Bcf

Click here for the chart with five year averages.

Click here for an archive of EnerCom’s Inventory Reports


**All …

December 4, 2014 - 5:11 pm Oil and Gas 360 Articles
Crude Oil Cuttings for the Week Ended November 28, 2014

Crude Oil Cuttings for the Week Ended November 28, 2014

crude_oil_cuttingsCRUDE OIL INVENTORY/’000 bbls (Week Ended 11/28/14)

Current: 379,335

Actual Build/(Withdrawal): (3,689)

Economist Average Estimate: 950

Previous: 383,024

Click here for the chart with five year averages.

Click here for an archive of EnerCom’s Inventory Reports


UBS Investment Research Note

December 3, 2014 - 7:14 pm Commodity Pricing, Oil and Gas 360 Articles

Kinder Morgan Announces 2015 Financial Expectations; Expects to Declare Dividends of $2.00 Per Share With Over $500 Million of Excess Coverage

Kinder Morgan, Inc. (KMI) today announced its preliminary 2015 financial projections. KMI expects to declare dividends of $2.00 per share for 2015, an approximately 16 percent increase over the 2014 dividend budget of $1.72 per share.

Chairman and …

December 3, 2014 - 7:07 pm Energy News

Stone Energy Corporation Provides Update on Deep Water Cardona Project

Stone Energy Corporation (SGY) today provided an operational update on its Cardona deep water development project.  The Cardona project initial production testing started in late November and the two wells (Cardona #4 and #5) have been tested and …

December 3, 2014 - 7:06 pm Energy News

Devon Energy President and CEO, John Richels, to Retire July 31, 2015

John Richels (63), president and CEO of Devon Energy Corporation (DVN), has announced his retirement effective July 31, 2015. The board of directors intends to elect Dave Hager (58), currently Devon’s chief operating officer, to succeed Richels as …

December 3, 2014 - 7:05 pm Energy News
Supermajors Prepare for New Oil Frontier by Centralizing Budgets, Focus

Supermajors Prepare for New Oil Frontier by Centralizing Budgets, Focus

Dozens, even hundreds of E&Ps and service providers in the oil and gas industry have recently announced intentions to dial back expenditures in 2015. Supermajors like Shell (NYSE: RDSB) and ExxonMobil (NYSE: XOM), on the other hand, both pledged to …

Hedge Funds on Pace for Most Closures since 2009

Hedge Funds on Pace for Most Closures since 2009

December, the final month of 2014, may be a proverbial light at the end of the tunnel for hedge funds. The year has not been kind to hedge-fund land, as CNBC explained in an October article:

First, they have …

December 3, 2014 - 6:45 pm 360 Company Releases, Commodity Pricing, Finance

CAMAC Energy Announces Additional Drilling Rig for Offshore Nigeria

CAMAC Energy Inc. (“CAMAC” or the “Company”) (NYSE MKT:CAK) announced today that it has signed a contract with a subsidiary of Transocean Ltd. for the provision of the semi-submersible drilling unit Sedco Express for drilling and completion activities offshore Nigeria

December 3, 2014 - 11:21 am Energy News

ONEOK Announces Higher 2015 Financial Guidance; Updates Three-year Financial Forecasts

ONEOK, Inc. (OKE) today announced that its 2015 cash flow available for dividends is expected to be in the range of $580 million to $660 million, reflecting higher anticipated cash distributions received from its general and limited partner …

December 2, 2014 - 6:48 pm Energy News

WPX Energy Begins to Monetize Marcellus Shale Assets

WPX Energy (WPX) announced today it signed an agreement to sell its operations in northeast Pennsylvania and release certain firm transportation capacity to Southwestern Energy Company (SWN) for approximately $300 million cash.

“The transformation of our …

December 2, 2014 - 6:46 pm Energy News
Emerald Oil “Well Positioned” to Withstand Current Oil Price Environment

Emerald Oil “Well Positioned” to Withstand Current Oil Price Environment

EOX Says Breakeven Price in the Bakken is $55/BOE

Emerald Oil is a pure play Williston Basin E&P with operations targeting the Bakken, Pronghorn and Three Forks shale oil formations. The company averaged production of 3,855 BOEPD in its Q3’14 …

Weatherford to Sell its Engineered Chemistry and Drilling Fluids Businesses for $825 Million in Cash and Earnout

Weatherford International plc (WFT) (the “Company”) has signed a definitive agreement with an affiliate of The Lubrizol Corporation (“Lubrizol”), a Berkshire Hathaway company, for the sale of the Company’s engineered chemistry and Integrity drilling fluids business. The businesses …

December 2, 2014 - 12:56 pm Energy RSS
British Columbia LNG: Government Approval is the Easy Part

British Columbia LNG: Government Approval is the Easy Part

The Environmental Assessment Office of British Columbia approved three separate liquefied natural gas (LNG) projects on November 25, 2014, two of which are located at Prince Rupert Island. The island, roughly 750 kilometers (465 miles) north of Vancouver, is proposed …

November 26, 2014 - 5:26 pm Canada, Oil and Gas 360 Articles
Oil Prices and the Knee-Jerk Reaction from Upcoming OPEC Meeting

Oil Prices and the Knee-Jerk Reaction from Upcoming OPEC Meeting

The West Texas Intermediate (WTI) spot price sank to a four year low on November 25, 2014, closing at $73.86. The Brent price settled at $78.17. The drops for both benchmark prices wiped out gains made in recent days and …

November 25, 2014 - 6:40 pm Commodity Pricing, Finance, Oil and Gas 360 Articles

Judge Holds Up C&J Energy Deal For Nabors Fracking Unit

Story by The Wall Street Journal

A Delaware court has held up an energy industry merger, a rare move for a judge in a live deal.

Vice Chancellor John Noble put on ice C&J Energy Services Inc. ’s merger with …

November 25, 2014 - 6:32 pm Energy News

Samson Oil & Gas Operational Update

Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN)

HAWK SPRINGS PROJECT, GOSHEN COUNTY, WYOMING

Bluff 1-11 (SSN 25%)

The Bluff 1-11 well was perforated within the 9,500 sand over the interval 7,738 to 7,754 feet, and the well …

November 25, 2014 - 6:23 pm Uncategorized
Broomfield, CO next up in the Fracturing Ban Debate

Broomfield, CO next up in the Fracturing Ban Debate

The hydraulic fracturing dispute continues in one of the U.S. battleground states

Colorado has played host to numerous standoffs involving hydraulic fracturing and its practices. Even though ballot initiatives were dropped in August, the debate of fracing continues on a …

Resolute Energy Posts Production Increase, 2015 Coming into View

Resolute Energy Posts Production Increase, 2015 Coming into View

Resolute Energy Corp. (ticker: REN) is an exploration and production company with producing assets in the Permian Basin (Texas), the Hilight Field of the Powder River Basin (Wyoming) and the Aneth Field of the Paradox Basin (Utah). REN is developing …

Liquid Petroleum Gas Technology Aims to Boost Fracing Efficiency in Sub-$80 Oil Environment

Liquid Petroleum Gas Technology Aims to Boost Fracing Efficiency in Sub-$80 Oil Environment

We all know the emergence of hydraulic fracturing has spurred an energy revolution in North America, but that doesn’t mean there isn’t room for improvement. Operators and service companies alike are constantly evaluating different options and adjusting techniques to fully …

Core Laboratories’ Analyst Coverage Climbs to 18 Firms with Initiation from SunTrust

Core Laboratories’ Analyst Coverage Climbs to 18 Firms with Initiation from SunTrust

The oilservice provider that keeps on giving. 

SunTrust Robinson Humphrey has initiated coverage on Core Laboratories (ticker: CLB), the company said in a research note on November 20, 2014. A total of 18 firms now cover the company, with four …

November 21, 2014 - 6:29 pm Analytics, Finance, Oil and Gas 360 Articles, Oilfield Services

New tribal head to speed North Dakota natural gas pipeline talks to help curb wasteful flaring

Story by the Associated Press

The new leader of North Dakota’s oil-rich Three Affiliated Tribes is pledging to speed negotiations on a proposed pipeline through tribal land that would curb the wasteful burning of natural gas in the state by

November 21, 2014 - 6:21 pm Energy News
New EIA Tool Details Import Adjustments in Response to U.S. Shale

New EIA Tool Details Import Adjustments in Response to U.S. Shale

New Tool is part of EIA’s “ongoing effort to assess the effects of a possible relaxation of current limitations on U.S. crude oil exports”

The Energy Information Administration has unveiled the unofficial version of its U.S. Crude Oil Import Tracking …

November 21, 2014 - 3:35 pm Oil and Gas 360 Articles
Sanchez Energy Reinforced by “Significant” Increase in Borrowing Base

Sanchez Energy Reinforced by “Significant” Increase in Borrowing Base

Sanchez Energy Corporation (ticker: SN), a rapidly expanding E&P targeting the Eagle Ford Shale, announced an increase of $287.5 million to its borrowing base in a press release on November 20, 2014. Per the terms of the commitment, SN has …

Breitburn Energy Partners Acquires QR Energy, Elects Donald D. Wolf to Board and Announces Common Unit Distribution Increase and Monthly Preferred Distribution

Breitburn Energy Partners LP (BBEP) announced that it completed the acquisition of QR Energy, LP on November 19, 2014.

In connection with the acquisition, Breitburn has elected Donald D. Wolf to its Board of Directors. Mr. Wolf is …

November 20, 2014 - 4:41 pm Energy News, Mergers & Acquisitions

Forest Oil Shareholders Approve Business Combination with Sabine Oil & Gas

Forest Oil Corporation (FST) (Forest or the Company) today announced that its shareholders have approved, by majority vote of the outstanding shares of Forest, all of the proposals that were presented with respect to the previously announced business …

November 20, 2014 - 4:37 pm Energy News, Mergers & Acquisitions

Evolution Petroleum Updates Capital Spending Plans

Evolution Petroleum Corporation (NYSE MKT: EPM) today provided additional information about its expected capital requirements for fiscal years ending June 30, 2015 and 2016, particularly the Delhi Field in northeast Louisiana. Denbury Resources Inc. (“DNR”), operator of the Delhi …

November 19, 2014 - 6:59 pm Energy News

Breitling Energy Appoints New Executive Vice President

Breitling Energy Corporation (BECC) (the “Company”) announces David J. Kovacs has joined the management team as Executive Vice President of Strategic Development. Mr. Kovacs specializes in investment banking, private equity and venture capital and has extensive experience in …

November 19, 2014 - 6:58 pm Energy News
Most Economic Basins at Today’s Oil/Gas Prices

Most Economic Basins at Today’s Oil/Gas Prices

In October, OAG360 examined the internal rate of return (IRR) in two of America’s key shale basins – the Eagle Ford (EF) and Bakken. EnerCom’s analysis showed the Eagle Ford is more economic than its rival basin by a handful …

November 19, 2014 - 6:46 pm Commodity Pricing, Oil and Gas 360 Articles

Strategic Oil & Gas Ltd. Announces Third Quarter 2014 Financial and Operating Results

Strategic Oil & Gas Ltd. (“Strategic” or the “Company”) (TSX VENTURE:SOG) reports financial and operating results for the three and nine months ended September 30, 2014. Detailed results are presented in Strategic’s interim condensed consolidated financial statements and related Management’s …

November 18, 2014 - 6:59 pm 360 Company Releases, Earnings