Articles by: Tyler Jones

Source: CNBC

The Unique Problem of Iran – EnerCom Interview with Christopher Hill, Former U.S. Ambassador to Iraq

Rising tension between the United States and Iran caused concern for oil supply and transportation when the U.S. killed Iranian major general Qasem Soleimani on January 3, 2020 in a drone strike in Iraq. In retaliation, Iran launched numerous ballistic

South China Sea Field Begins Production

South China Sea Field Begins Production

China National Offshore Oil Corporation (CNOOC) and its partner, Husky Energy (ticker: HSE) announced that their Liuhua 34-2 offshore gas field commenced operations on December 15, 2014.

The Liuhua 34-2 gas field is located in the Eastern South China Sea, …

December 17, 2014 - 2:33 pm International, Offshore, Oil and Gas 360 Articles
OPEC Revenues to fall 46% by the end of 2015

OPEC Revenues to fall 46% by the end of 2015

The Energy Information Administration (EIA) estimates that OPEC revenues from net oil exports will fall substantially from 2013 levels. The EIA estimates that OPEC, excluding Iran, will earn about $700 billion in revenue from exports in 2014.The forecast is a …

December 17, 2014 - 2:19 pm Oil and Gas 360 Articles, OPEC
EIA – U.S. Household Gasoline Expenditures in 2015 could be the Lowest in 11 Years

EIA – U.S. Household Gasoline Expenditures in 2015 could be the Lowest in 11 Years

Falling prices at the pump will lead to U.S. households spending less on gas next year than in the last eleven years, according to a forecast from the Energy Information Administration (EIA).

The average U.S. household is expected to spend …

December 16, 2014 - 6:38 pm Oil and Gas 360 Articles
Apache Sells Stake in B.C. and Australia LNG Projects for $2.75 Billion

Apache Sells Stake in B.C. and Australia LNG Projects for $2.75 Billion

Apache Corporation (ticker: APA) announced on December 15, 2014, that it has agreed to sell its interest in two liquefied natural gas (LNG) projects to Australian E&P Woodside Petroleum Ltd. (ticker: WPL). The deal includes the accompanying upstream oil and …

December 16, 2014 - 6:11 pm International, Oil and Gas 360 Articles
Encana Corp. Increasing Capital in 2015 to Focus on Liquids Program

Encana Corp. Increasing Capital in 2015 to Focus on Liquids Program

Encana Corporation (ticker: ECA) has announced a 2015 capital budget of $2.7 to $2.9 billion, with approximately 80% directed to four of its highest margin growth plays; the Montney and Duvernay in Canada, as well as the company’s Permian and …

Chevron Cancels Shale Gas Deal in Ukraine

Chevron Cancels Shale Gas Deal in Ukraine

Chevron (ticker: CVX) has terminated its contract with Ukraine to extract shale gas in the western part of the country. The world’s third largest oil company by market cap spent more than a year to get the government to simplify …

December 15, 2014 - 6:52 pm International, Oil and Gas 360 Articles
Range Resources Announces 2015 CapEx and Record Well in the Utica

Range Resources Announces 2015 CapEx and Record Well in the Utica

Utica/Point Pleasant well sets Appalachia record

Range Resources (ticker: RRC) announced today its 2015 capital budget and initial results from its Utica/Point Pleasant well located in Washington County, Pennsylvania.

Range has set its 2015 capital budget at $1.3 billion, a …

BP, Husky Oil Sands JV Starts Operations

BP, Husky Oil Sands JV Starts Operations

Partners BP and Husky expect oil from Sunrise Energy Project by Q1 of next year

On December 11, Husky Energy (ticker: HSE) announced that it has commenced steam operations at its Sunrise Energy Project, a joint venture (JV) with BP …

December 15, 2014 - 3:57 pm Canada, Oil and Gas 360 Articles, Oil Sands
IEA Oil Market Report for December

IEA Oil Market Report for December

The International Energy Association (IEA) released its Oil Market Report (OMR) for December, cutting the outlook for 2015 global oil demand growth by 230 MBOPD to 900 MBOPD on lower expectations for the Former Soviet Union and other oil-exporting countries, …

December 15, 2014 - 1:24 pm International, Oil and Gas 360 Articles
Chart of the Week – Well Cost Sensitivity

Chart of the Week – Well Cost Sensitivity

EnerCom’s Analytics Team ran an analysis of well costs for various basins. The “Current Well Costs” bar shown in the chart represents an average of actual 2014 well costs for a group of E&P companies operating in each basin. The …

December 12, 2014 - 6:55 pm Chart of Week
Enterprise Products Partners Scraps Bakken Pipeline

Enterprise Products Partners Scraps Bakken Pipeline

After offering an extension to attract more commitments, Enterprise decides not to move ahead on project

In a two sentence release from the company today, Enterprise Products Partners (ticker: EPD) announced that it would not be moving forward with its …

December 12, 2014 - 6:47 pm Midstream, Oil and Gas 360 Articles
Russia and India Strengthen Energy Ties

Russia and India Strengthen Energy Ties

Rosneft and Essar agree on key terms of Russian oil supplies to India

Russia’s upstream producer Rosneft (ticker: RNFTF) and India’s oil refiner Essar signed key terms of oil and oil products supplies to refineries in India, according to a …

December 12, 2014 - 4:14 pm International, Oil and Gas 360 Articles
Alaska Faces $3.5 Billion Deficit as Oil Prices Drop

Alaska Faces $3.5 Billion Deficit as Oil Prices Drop

Alaska’s revenue forecast, released Wednesday, predicts a deficit of $3.5 billion, an increase of $2.1 billion from what lawmakers expected in April.

The forecast expects unrestricted general fund revenue of $2.6 billion this year, down from $5.4 billion in 2014, …

December 12, 2014 - 3:48 pm Commodity Pricing, Oil and Gas 360 Articles
Source: Royal Dutch Shell

More LNG Plants Being Built Even as Demand Slows

This week marked the announcement of plans for a new Liquefied Natural Gas (LNG) plant in Louisiana. The news came yesterday as Venture Global LNG said it would invest $4.0 to $4.5 billion to build a gas liquefaction processing plant …

December 11, 2014 - 5:41 pm Oil and Gas 360 Articles
ExxonMobil’s Outlook for Energy Snapshot

ExxonMobil’s Outlook for Energy Snapshot

ExxonMobil (ticker: XOM) released its 2015 Outlook for Energy this week. The report is the company’s long-term global view of energy demand and supply, which ExxonMobil shares to promote understanding of the world’s energy future. The outlook examines energy supply …

December 11, 2014 - 5:23 pm Oil and Gas 360 Articles
Pertamina to Double Refinery Capacity with $25 Billion Investment

Pertamina to Double Refinery Capacity with $25 Billion Investment

Indonesia’s state-run energy firm Pertamina signed Memorandums of Understanding (MOUs) with three global oil refinery operators – Saudi Aramco, Japan’s JX Nippon Oil & Energy and China Petroleum and Chemical Corp (Sinopec) – to upgrade Indonesia’s aging oil refineries on …

December 11, 2014 - 4:53 pm International, Oil and Gas 360 Articles
PDC Energy Operational Update: Production Rising with Less Capital

PDC Energy Operational Update: Production Rising with Less Capital

On December 8, 2014, PDC Energy (ticker: PDCE) announced its 2015 capital budget after a profitable Q3’14.

For 2015, PDC’s capital budget is approximately $557 million, a decrease of 14% compared to its 2014 expenditures. The company’s budget includes $526 …

Politicians Look to Lift Export Ban as Oil Prices Continue to Drop

Politicians Look to Lift Export Ban as Oil Prices Continue to Drop

Representative Joe Barton (R-Tex) introduced a bill yesterday that would remove restrictions on crude oil exports from the United States.

The bill plans to “remove all restrictions on the export of crude oil, which will provide domestic economic benefits, enhanced …

December 10, 2014 - 3:39 pm Oil and Gas 360 Articles, Politics & Opinions
Russia Resumes Gas Shipments to Ukraine

Russia Resumes Gas Shipments to Ukraine

Yesterday, Ukraine confirmed that it had begun to receive gas shipments from Russia’s state owned Gazprom (ticker: OGZPY) after a six-month cutoff, reports news agency ITAR-TASS.

“Imports from Russia began two days earlier than planned,” Ukraine’s gas transport company …

December 10, 2014 - 2:27 pm International, Oil and Gas 360 Articles
Canadian Companies Announce Major Cuts to CapEx in 2015

Canadian Companies Announce Major Cuts to CapEx in 2015

Major companies are struggling to maintain capital expenditures as oil prices continue to slide further. Already in the last six months prices have fallen more than 40% as supply continues to outpace sluggish demand growth.

In the last week, three …

December 9, 2014 - 6:58 pm Canada, Oil and Gas 360 Articles
BP to Invest in Egypt

BP to Invest in Egypt

BP (ticker: BP) has released a statement saying that the company plans to expand its operations in Egypt with a $240 million investment in the country.

Last year, the Egyptian Natural Gas Holding Company (EGAS) auctioned off several blocks in …

December 9, 2014 - 6:48 pm International, Oil and Gas 360 Articles
EOG Divests Canadian Assets for $410 Million

EOG Divests Canadian Assets for $410 Million

A Look at Valuations

EOG Resources (ticker: EOG) announced yesterday the divestiture of all its assets in Manitoba and certain assets in Alberta in two separate transactions to unidentified buyers that closed November 28 and December 1, 2014, respectively.

The …

December 9, 2014 - 6:07 pm Canada, Oil and Gas 360 Articles
India and Mexico Sign MoU

India and Mexico Sign MoU

Reliance Industries Limited (ticker: RIL) and the Mexican state owned company, Petroleos Mexicanos (PEMEX) have entered into a Memorandum of Understanding (MOU) regarding cooperation on potential upstream business opportunities in Mexico and the companies will jointly evaluate value added opportunities …

December 8, 2014 - 6:55 pm International, Oil and Gas 360 Articles
Oil & Gas 360® Looks at Canadian E&Ps – Part 5

Oil & Gas 360® Looks at Canadian E&Ps – Part 5

This week’ look at Canadian E&Ps includes four companies with operations in all parts of the Americas, from Canada down to South America.

Bonavista Energy Corp. (ticker: BNP)

Comparative Financial and Operational Metrics for BNP (approximate numbers): Bonavista Energy Corp’s …

Source: NPR

Iraq Oil Dispute Resolved, Expects Increase in Production

The Iraqi government agreed on December 2 to an oil export deal with the northern region of Kurdistan, ending a dispute over oil exports with Iraq’s northern region. Earlier this year, the Iraqi government cut off funding to the Kurdish …

December 8, 2014 - 6:00 pm International, Oil and Gas 360 Articles
Chevron Announces First Oil from Offshore Project

Chevron Announces First Oil from Offshore Project

Chevron Corporation (ticker: CVX) announced this week that crude oil and natural gas production has begun at the Jack and St. Malo offshore project in the Lower Tertiary trend, deepwater U.S. Gulf of Mexico. Jack/St. Malo was delivered on time …

December 5, 2014 - 7:02 pm Offshore, Oil and Gas 360 Articles
BC LNG Project Delay Highlights U.S.-Canadian Competition

BC LNG Project Delay Highlights U.S.-Canadian Competition

News of delays to the Pacific NorthWest LNG Project have some Canadians concerned about Competitiveness

Malaysian oil giant Petronas announced earlier this week that it will delay its decision about proceeding with its Pacific NorthWest LNG terminal, saying that estimated …

December 5, 2014 - 6:26 pm Canada, Oil and Gas 360 Articles
Is $60 Saudi’s Number?

Is $60 Saudi’s Number?

Saudi Arabia expects oil prices to stabilize around $60 a barrel, according to the Wall Street Journal, a level both it and other Gulf producers believe they could withstand. While word of oil prices dropping even further is not …

December 5, 2014 - 5:38 pm Oil and Gas 360 Articles, OPEC

Oryx Petroleum Announces Update for the Demir Dagh Field in the Kurdistan Region of Iraq

Oryx Petroleum Corporation Limited (“Oryx Petroleum” or the “Group”) today announces an update regarding development, production and sales for the Demir Dagh field in the Kurdistan Region of Iraq (“KRI”).

Highlights:

* The Demir Dagh-7 well will be tied into …

December 5, 2014 - 4:37 pm 360 Company Releases