Articles by: Oil & Gas 360

Indigenous E&Ps Achieve Competition Status with IOCs in Nigeria

From The Guardian

Crude Oil Production

Indigenous companies are beginning to develop capacity to compete with International Oil Companies (IOCs), which have dominated the exploration and production of oil and gas in Nigeria for decades.

ExxonMobil, Chevron, Total, and Shell, …

April 19, 2017 - 8:37 am Closing Bell Story‎, Energy News
Open House & Energy Industry Networking Event at GEM, Thurs. April 20

Open House & Energy Industry Networking Event at GEM, Thurs. April 20

 

The Global Energy Management Program at the University of Colorado Denver Business School invites you to Downtown Denver on Thursday, April 20 from 5:30 – 7:30 pm for a networking event that will showcase the many different professional development …

April 18, 2017 - 5:47 pm Closing Bell Story‎
Second LNG Reverse Merger in 2017

Second LNG Reverse Merger in 2017

3.55 Bcf/d Rio Grande LNG project slated to go public

NextDecade and Harmony Merger Corp (ticker: HRMN) agreed to merge today, in a reverse merger that would bring NextDecade public.

NextDecade is planning the Rio Grande LNG project, a proposed …

Natural Gas Expected to Overpower Coal this Summer: EIA

Natural Gas Expected to Overpower Coal this Summer: EIA

EIA sees lower demand from cool summer but expects 34% of all electricity consumed will be generated by gas turbines

Natural gas will be the largest source of electricity in the U.S. this summer, according to a note released by …

BAM! It’s Earnings Season Again – Q1’17 Estimates

BAM! It’s Earnings Season Again – Q1’17 Estimates

EnerCom, Inc. has compiled first quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 155 E&P and OilService companies in our database.

Download EnerCom’s 155-company earnings tables here.

The median OilServices company earnings …

Dropping Gas Production Thins Propane Supply

Dropping Gas Production Thins Propane Supply

 

From LPGas Magazine

Natural gas production is the engine that drives propane supply. U.S. marketed natural gas production in January 2017 was 2.343 million cu. ft. Production was at 2.424 million cu. ft. in January 2016.

The lighter natural …

April 18, 2017 - 4:33 pm Closing Bell Story‎, Energy News
Blackstone Goes More Permian with $2 Billion Acquisition of EagleClaw

Blackstone Goes More Permian with $2 Billion Acquisition of EagleClaw

 

EagleClaw Midstream Ventures, LLC and its financial sponsor, EnCap Flatrock Midstream, have entered into a binding agreement to sell the company to funds managed by Blackstone Energy Partners and Blackstone Capital Partners for approximately $2 billion.

The all-cash transaction …

Undaunted by Oil Bust, Financiers Pour Billions into U.S. Shale

From Reuters

Investors who took a hit last year when dozens of U.S. shale producers filed for bankruptcy are already making big new bets on the industry’s resurgence.

In the first quarter, private equity funds raised $19.8 billion for energy …

April 18, 2017 - 1:30 pm Closing Bell Story‎, Crude Oil News

Is OPEC Gaming Exports to Move U.S. Inventories?

From SAFE

By targeting U.S. refineries through the production cut, OPEC producers have more flexibility in fighting for market share in the growing Asia-Pacific market.

The OPEC cuts may be finally starting to bite. While one week does not a …

April 18, 2017 - 12:01 pm Closing Bell Story‎, Crude Oil News, Energy News

Uptick in Drilling in Northeastern B.C. Good Sign for Alberta Producers

From CBC:

Increasingly empty industrial yards around the northeastern B.C. city of Fort St. John are a welcome sign for Jennifer Moore.

Moore, a regional economic development officer, says the return of parked natural gas drilling rigs and related …

April 18, 2017 - 10:34 am Closing Bell Story‎, Energy News

Venoco Calls it Quits – Company Files Chapter 11 Again

From The Denver Business Journal:

Nine months after a federal bankruptcy judge signed off on a restructuring plan for Denver oil and gas company Venoco Inc., the company is back in bankruptcy court.

Venoco, which focuses on operations offshore …

April 18, 2017 - 10:31 am Closing Bell Story‎, Energy News, MLP News

Banned at sea: Venezuela’s crude-stained oil tankers

From Reuters:

In the scorching heat of the Caribbean Sea, workers in scuba suits scrub crude oil by hand from the hull of the Caspian Galaxy, a tanker so filthy it can’t set sail in international waters.

The vessel …

April 18, 2017 - 10:23 am Closing Bell Story‎, Crude Oil News, Energy News
EnerCom Effective Rig Count Rises to 1,765

EnerCom Effective Rig Count Rises to 1,765

Utica rigs have seen largest productivity increase

EnerCom released its EnerCom Effective Rig Count today. Launched in January, the Effective Rig Count seeks to account for improved productivity from recent development. New technologies and techniques have allowed wells to be …

ConocoPhillips Divests $3 Billion in U.S. Gas Assets

ConocoPhillips Divests $3 Billion in U.S. Gas Assets

1.3 million acres in the San Juan basin sold to Hilcorp for $2,300/acre

ConocoPhillips (ticker: COP) announced the sale of its San Juan Basin assets for $3 billion, the second large sale by the company in the last month. Privately …

Is the Delaware Losing its Allure?

Is the Delaware Losing its Allure?

High per-acre costs make turning a profit in the Delaware more difficult

Capital has rushed into the Permian as oil prices stabilize and operators look for the best acreage possible. The majority of that capital has been focused in the …

Electricity from the Sea is Real: the World’s Most Powerful Tidal Turbine Achieves 2 MW Peak Power in North Sea

Electricity from the Sea is Real: the World’s Most Powerful Tidal Turbine Achieves 2 MW Peak Power in North Sea

2 MW floating turbine sends power to the UK national grid

You’ve probably heard of the concept—using oceanic tidal flows to generate electricity. After the concept lived a sci-fi storyboard kind of existence for decades, a concept for an affordable …

Turkey’s President Wins Sweeping Powers in Cliffhanger Vote

Turkey’s President Wins Sweeping Powers in Cliffhanger Vote

From Stratfor

In an apparent cliffhanger victory, with challenges from the opposition still outstanding, the ruling Justice and Development Party (AKP) and President (and now party leader) Recep Tayyip Erdogan are claiming …

April 17, 2017 - 1:13 pm Closing Bell Story‎, Energy News

Iraq Plans Three Gas Processing Plants to Reduce Flaring, Boost Export Income, Fuel Power Plants

From Reuters/Nasdaq

Iraq plans to build three new plants to process natural gas currently being flared at southern oil fields, and use the fuel for power generation and to increase the nation’s income from energy exports, Oil Minister Jabar …

April 17, 2017 - 12:49 pm Closing Bell Story‎, Energy News

Emerge Energy Services LP to Acquire Local Sand Operation for $20 million

Emerge Energy Services LP (ticker: EMES) today announced the closing of a transaction to acquire Osburn Materials, a local sand producer based outside of San Antonio Texas, for approximately $20 million.

Highlights

The transaction was funded with a new $40 …

April 17, 2017 - 12:12 pm Energy News, MLP News

U.S.’s Largest Public Pension Fund Not Happy with Private Equity

California’s $315 retirement system weighing new approaches to private equity investing

From the Wall Street Journal

The largest public pension fund in the U.S. is studying dramatic changes in how it invests in private equity that would slash payments to …

April 17, 2017 - 12:05 pm Closing Bell Story‎, Energy News, Finance

Enterprise Products Partners to build 571-mile NGL pipeline

From the Houston Business Journal

Houston-based Enterprise Products Partners LP (ticker: EPD) has announced another new project centered around the Gulf Coast’s growing petrochemical market.

The project, called Shin Oak, includes a 571-mile pipeline to move natural gas liquids from …

April 17, 2017 - 11:51 am Energy News, MLP News

Williams Partners Agrees to Sell Its Interests in the Geismar Olefins Facility to NOVA Chemicals for $2.1 Billion

Williams Partners L.P. (ticker:WPZ) announced today that it has agreed to sell 100 percent of its membership interest in Williams Olefins LLC, which owns an 88.46 percent undivided ownership interest in the Geismar, Louisiana, olefins plant and associated complex, to …

April 17, 2017 - 11:24 am Closing Bell Story‎, MLP News

NuStar Energy enters Permian Basin with $1.475 billion acquisition deal

From the San Antonio Business Journal

After nearly two years of trying to enter the Permian Basin, San Antonio-based midstream company NuStar Energy LP (ticker: NS) will soon become a player in the West Texas shale play.

NuStar confirmed the …

April 17, 2017 - 11:16 am Closing Bell Story‎, MLP News
Energy for a Lifetime: USGS Quadruples NatGas Estimate from 70 Tcf to 304 Tcf for Bossier and Haynesville Plays

Energy for a Lifetime: USGS Quadruples NatGas Estimate from 70 Tcf to 304 Tcf for Bossier and Haynesville Plays

Two formations hold 4 billion barrels of oil, 2 billion barrels of NGLs: USGS

On April 13th, the U.S. Geological Survey ( USGS ) released what it calls “the largest continuous natural gas assessment it has yet conducted” – a …

The War on Coal is Done: Pruitt

The War on Coal is Done: Pruitt

EPA launches Back-to-Basics agenda at Pennsylvania coal mine

U.S. Environmental Protection Agency Administrator Scott Pruitt visited the Harvey Mine in Sycamore, Pa., last week where he announced EPA’s Back-to-Basics agenda, cementing his earlier statement that the new administration has declared …

Mines Grad Students Examine Possible Effects of Trump Infrastructure Program

Mines Grad Students Examine Possible Effects of Trump Infrastructure Program

Will $1 trillion in improvements to U.S. infrastructure move global commodities markets?

Mines Grad Students Examine Possible Effects Trump Infrastructure Program

The White House has promised a $1 trillion program that would target the rebuilding of aging U.S. infrastructure. And the president has said the funding would come from …

April 13, 2017 - 5:56 pm Closing Bell Story‎, Oil and Gas 360 Articles
Yuma Energy Enters Permian Race

Yuma Energy Enters Permian Race

Joint development venture will develop San Andres play

Yuma Energy (ticker: YUMA) announced entry into the Permian Basin Wednesday, and also released fourth quarter results and reserves.

Yuma entered into a joint development agreement regarding 33,280 acres with two private …

Source: WPX

U.S. Rig Count Up for Thirteenth Week

Permian Basin drilling continues to grow

The U.S. rig count has increased for the thirteenth consecutive week, according to Baker Hughes’ weekly rig count. Active rigs in the U.S. increased by eight this week to a total of 847. Land …

If Extended Past June, OPEC Cuts Would Normalize Inventories: KLR

If Extended Past June, OPEC Cuts Would Normalize Inventories: KLR

Inventories 350 MMBO above historical average

An extension of the OPEC production cuts should normalize global inventories this year, according to research by KLR Group.

Announced on September 28, 2016, OPEC agreed to limit production to 32.5 MMBOEPD in …

Source: WPX

Exco Sells Eagle Ford Assets for $300 million

Transaction is Venado’s second Eagle Ford purchase this year

Exco Resources (ticker: XCO) announced the sale of its South Texas assets on Monday, with an estimated closing cost of $300 million. Venado Oil & Gas will buy the property, adding …