Articles by: Oil & Gas 360

Hess Moves Guyana Resource Estimate Closer to 1.4 Billion BOE

Hess Moves Guyana Resource Estimate Closer to 1.4 Billion BOE

Hess’ Liza-3 well offshore Guyana confirms a major oil discovery with breakeven below $40 per barrel

Hess Corporation (ticker: HES) released its third-quarter earnings Wednesday, reporting a loss of $1.12 per share, but the company also updated the markets on …

Source: Sweetcrudereport.com

Surprise Crude Draws Continue, Reversing Oil Losses

Oil bounces back after official data shows yet another crude inventory draw

Oil prices came back from a nearly 2% decline Wednesday morning following news from the Energy Information Administration that U.S. crude oil inventories fell last week. The oil …

Natural Gas Declines on Mild Weather Forecasts

From the Wall Street Journal

Gas continues slide that wiped out more than a month of gains in last several days

Natural gas continued the downward slide that wiped out more than a month of gains amid forecasts of unseasonably …

October 26, 2016 - 1:54 pm Closing Bell Story‎, Commodity Pricing, Energy News

Teekay LNG Tanker Attacked by Pirates Off Yemen

From MarineLink

Unknown assailants attacked a gas tanker off the coast of Yemen close to the Bab al-Mandab waterway in the latest flare up in an area through which much of the world’s oil passes, shipping and security officials said …

October 26, 2016 - 1:52 pm Closing Bell Story‎, Energy News

Oil Dragging on Texas Budget but Won’t Cause Recession

From the Midland Reporter Telegram

Several economists convened by state Comptroller Glenn Hegar said Monday that despite persistently low oil and gas prices, the state economy is unlikely to slide into recession anytime soon and will continue to grow at …

October 26, 2016 - 10:58 am Closing Bell Story‎, Energy News

Bolivia, Repsol To Sign Deal To Develop Two Natural Gas Fields

From Reuters
LA PAZ, Oct 25 (Reuters) – Bolivia’s government and a consortium led by Spain’s Repsol SA REP.MC will sign a deal to develop two natural gas fields with an investment that could exceed $1 billion, a government official …

October 26, 2016 - 10:30 am Closing Bell Story‎, Energy News

Exxon GC’s Forced Retirement a Rare Move

From Corporate Counsel

The announced retirement of ExxonMobil’s general counsel, Jack Balagia, sheds light on a practice that is common at law firms but less known at corporate legal departments: mandatory retirement policies.

Balagia will retire Nov. 1, shortly after …

October 26, 2016 - 8:18 am Closing Bell Story‎, Energy News, Law, People
Offshore Oil Provided 30% of Global Production in 2015

Offshore Oil Provided 30% of Global Production in 2015

Global Offshore Production Continues to Develop

According to new data from the EIA, global offshore oil production (including lease condensate and hydrocarbon gas liquids) in 2015 was at the highest level since 2010, and accounted for nearly 30% of total …

EQT Beefs up its Core Marcellus Acreage and will Acquire Trans Energy

EQT Beefs up its Core Marcellus Acreage and will Acquire Trans Energy

$683 million Bolt-on Acquisition adds 59,600 net acres in Wet Gas Window

EQT Corporation (ticker: EQT), announced that it would acquire 59,600 net acres and 44 MMcfe of natural gas production in two related transactions in the core Marcellus. Both …

Blackbird Energy Accelerates Business Plan with $13 Million Private Placement

Blackbird Energy Accelerates Business Plan with $13 Million Private Placement

Blackbird to continue delineating its liquids-rich Montney assets

Calgary-based Blackbird Energy (ticker: BBI) announced two non-brokered private placements of common shares Tuesday. 27,150,000 shares will be issued in total for proceeds of approximately $13 million. 16,500,000 of those shares were …

Carrizo Oil & Gas Ups Eagle Ford Position 15%

Carrizo Oil & Gas Ups Eagle Ford Position 15%

$181 million acquisition funded through public offering

Carrizo Oil & Gas (ticker: CRZO) announced that it will purchase 15,000 acres of Eagle Ford Shale properties in LaSalle, Frio, and McMullen counties, Texas, from an affiliate of Sanchez Energy (ticker: SN) …

Wyoming Governor Matt Mead

Severance Taxes Taking a Hit in Wyoming

Wyoming Delivers State Revenue Forecast

Wyoming Governor Matt Mead held a press conference Monday to discuss the latest update from the state’s Consensus Revenue Estimating Group (CREG), which delivered a projection used to help shape the state budget. The report …

October 25, 2016 - 3:48 pm Closing Bell Story‎, Oil and Gas 360 Articles

Russians Conducting Atom Bomb Survival Drills

From the Wall Street Journal

Bomb shelters are upgraded, gas masks tested amid strained relations between Putin and U.S.

Cold War-era Soviet Union survival tactics are back in vogue as Russians by the millions participated in emergency drills across the …

October 25, 2016 - 2:10 pm Uncategorized

EPA asks FERC to Strengthen its Approach to GHG Emissions Before Approving Gas Pipelines

But FERC is Not Interested

From E&E News

U.S. EPA is seeking a headquarters-level discussion with the Federal Energy Regulatory Commission to promote deeper, more comprehensive climate reviews of proposed natural gas pipelines.

“We as an agency think they need …

October 25, 2016 - 2:02 pm Closing Bell Story‎, Energy News, Midstream

Court Approves $15 Billion Emissions Settlement from VW

From the AP

A federal judge in San Francisco has approved a $15-billion court settlement of most claims against Volkswagen for its emissions-cheating scandal.

U.S. District Judge Charles Breyer signed the order Tuesday approving the largest auto-scandal settlement in the …

October 25, 2016 - 12:09 pm Closing Bell Story‎, Energy News

Egypt Seeks Much Needed Cash from Shippers, Proposes a New Suez Canal Toll System

 

From Marine Link

Egypt is in talks with global shipping firms to change the way it charges vessels to pass through the Suez Canal, offering discounts for advance payments as it seeks to raise much-needed hard currency from a …

October 25, 2016 - 10:24 am Closing Bell Story‎, Energy News

Airline GC Recalls How Trump Botched an M&A Deal

From Corporate Counsel

How good a businessman is Donald Trump? Not very, according to Ben Hirst, the former general counsel of Continental Airlines who watched him up close during Trump’s purchase of the Eastern Air Lines shuttle in 1988.

Hirst …

October 25, 2016 - 10:19 am Closing Bell Story‎, Mergers & Acquisitions
Chesapeake’s 25,000-Ton Monster Frac and U.S. Silica’s 19,000-Ton Sand Shipment Set Records

Chesapeake’s 25,000-Ton Monster Frac and U.S. Silica’s 19,000-Ton Sand Shipment Set Records

Monster fracs, superlaterals are here to stay

Remember when that kid you didn’t like in middle school used to tell you to ‘go pound sand’? Somebody who later became a petroleum engineer has heeded that advice and began to work …

Petrobras and Total Sign MOU for International Cooperation on Upstream and Downstream Projects

Petrobras and Total Sign MOU for International Cooperation on Upstream and Downstream Projects

Petrobras and Total partnership to focus on upstream, gas and power

The heads of Brazil’s state-owned Petrobras (ticker: PBR) and French oil major Total (ticker: TOT) announced today that the two companies signed a memorandum of understanding (MOU) to cooperate …

A Nine-Year High for Short Positions in U.S. Crude Oil Futures and Options

A Nine-Year High for Short Positions in U.S. Crude Oil Futures and Options

Short positions in crude oil futures and options held by producers, merchants, processors, and users (PMPU) totaled 608,261 as of October 11, 2016, according to the CFTC’s Commitments of Traders Report. The PMPU category represents futures and options contracts held …

A $2 Billion MLP:  American Midstream Partners – JP Energy Merger

A $2 Billion MLP: American Midstream Partners – JP Energy Merger

ArcLight Capital Partners combines two of its sponsored MLPs into one entity

American Midstream Partners (ticker: AMID) announced that it will merge with JP Energy Partners (ticker: JPEP) in a unit-for-unit deal, forming an MLP with a $2 billion enterprise …

Oil Down as Iraq says No Production Cuts

From Bloomberg

Oil prices fell on Monday after Iraq said it wanted to be exempt from an OPEC production cut, though prices drew some support from a rally in Wall Street shares and a draw in crude inventories at the …

October 24, 2016 - 4:41 pm Closing Bell Story‎, Energy News

Nuclear, NatGas in tug of War over New York’s Energy Future

From the Albany Times Union

Gas plants sue to block zero emissions credit subsidy

A challenge by natural gas power plant owners to a multibillion dollar state subsidy for nuclear plants revealed a tug of war between nuclear and gas …

October 24, 2016 - 4:33 pm Closing Bell Story‎, Energy News

Petronet Seeks 10% Cut In Gorgon Natural Gas Price: Report

From Press Trust of India

Petronet LNG had in August 2009 signed a 20-year deal to buy 1.44 million tonnes per annum of liquefied natural gas at a price equivalent to 14.5% of the prevailing oil rates. Petronet has written

October 24, 2016 - 3:52 pm Closing Bell Story‎, Energy News

Egypt Launches Record LNG Tender for 96 Cargoes

From Marine Link

Egypt launched the world’s biggest tender for liquefied natural gas (LNGLF) (LNG) as officials from top energy companies and trading houses converged on Cairo undeterred by new rules that could force them to wait for as long …

October 24, 2016 - 3:30 pm Closing Bell Story‎, Energy News

TD Ameritrade to Buy Scottrade in $4 Billion Deal

From the New York Times

TD Ameritrade announced on Monday that it would acquire Scottrade Financial Services, a rival discount brokerage, for $4 billion, in a bid for scale at a time when small investors are losing their taste for …

October 24, 2016 - 12:22 pm Closing Bell Story‎, Energy News

Baker Hughes, GE Empty Out, Adding Another 300,000 Sq. Ft. of Houston Office Space for Sublease

From the Houston Business Journal

Two companies together add to 1.1 million sq. ft. already on Houston sublease market from Shell and Freeport McMoRan

Houston-based Baker Hughes Inc. (NYSE: BHI) put 113,741 square feet of space at America Tower on …

October 24, 2016 - 11:21 am Closing Bell Story‎, Energy News
We Have Indeed Reached the Bottom of the Cycle: SLB’s Kibsgaard

We Have Indeed Reached the Bottom of the Cycle: SLB’s Kibsgaard

But expect rising service costs and stricter return hurdles

Paal Kibsgaard, CEO of the world’s largest oilfield service provider Schlumberger (ticker: SLB), gave his assessment of the global oil and oil services markets during the company’s third quarter conference call.…

Shell Divests Shale Assets in Western Canada for $1 Billion

Shell Divests Shale Assets in Western Canada for $1 Billion

Shell sells non-core assets to Tourmaline Oil Corp. for US$1.04 billion

Royal Dutch Shell (ticker: RDSA) announced that its Canadian subsidiary has sold approximately 206,000 net acres of oil and gas properties, three 100%-operated gas plants and 719 kilometers (447 …

Photo: Free Range Longmont -- Drilling near Mead, Colorado

Permian Drilling Continues to Push the Rig Count Higher

The U.S. added 14 more rigs to its active fleet this week

The active rig count in the United States continued to climb this week as oil prices remained above $50 per barrel. The majority of the new activity came …