Articles by: Oil & Gas 360

Altex Energy CEO: There is Still a Case for Moving Canadian Crude by Rail

Altex Energy CEO: There is Still a Case for Moving Canadian Crude by Rail

John Zahary, president and CEO of Altex Energy, makes the case for moving Canadian crude by rail

John Zahary, President and Chief Executive Officer of Altex Energy, a company that owns and operates eight crude-by-rail terminals in Western Canada, made …

February 10, 2015 - 5:42 pm Canada, Midstream, Oil and Gas 360 Articles
Oil Prices Going Down, No, Up

Oil Prices Going Down, No, Up

Hofmeister looks for WTI to climb toward $100, while Morse sees one scenario at $20

John Hofmeister, former Shell Oil Company president, was on BNN today predicting the return–sooner than later–of much higher oil prices due to increasing decline rates, …

Oil rallies for third day after OPEC sees greater crude demand

Story by Reuters

Oil jumped for a third straight session on Monday as OPEC forecast greater demand for crude this year than previously thought and projected less supply from countries outside the producer group.

The Organization of the Petroleum Exporting …

February 9, 2015 - 6:24 pm Uncategorized

Statoil choses unmanned platform concept to streamline offshore operations

Story by Oil & Gas Technology

Statoil and its licence partners have chosen an unmanned wellhead platform as the concept for the Oseberg Future development phase I project in the North Sea.

Total cost for such unmanned wellhead platform is
February 9, 2015 - 6:21 pm Energy News
EIA: Iraq Oil Production Growth was World’s Second Largest in 2014

EIA: Iraq Oil Production Growth was World’s Second Largest in 2014

Despite supply disruptions and security threats, Iraq was the second-leading contributor to global oil supply growth in 2014

According to information released by the Energy Information Administration (EIA) today, Iraq’s production growth in 2014 was the second largest in the …

February 9, 2015 - 6:20 pm Oil and Gas 360 Articles, OPEC

Texans in Congress push to allow exports of crude

Story by The Dallas Morning News

Falling oil prices have some Texas lawmakers looking to reshape U.S. policy on crude oil in the mold of another iconic Texas product: Blue Bell Ice Cream.

Blue Bell’s motto is “We eat all …

February 9, 2015 - 6:19 pm Uncategorized
U.S. Shale will Drive 30% Oilservice Spending Rebound in 2017: BI

Wells Fargo Expects Oil Prices to drop in Near-Term, Supply/Demand to Balance by Q4’15

The dust is settling on the first phase of the global oil market share war. Oil has been hovering around $50/barrel for nearly a week – a long-awaited relief to the industry which was wondering, exactly, where is rock bottom? …

February 9, 2015 - 6:13 pm Analytics, Commodity Pricing, Finance, Oil and Gas 360 Articles
Canada Oilsands: Coming Soon to Europe

Canada Oilsands: Coming Soon to Europe

Decision by the European Union allows for sale of Canadian oilsands crude in the Eurozone

The European Union will now officially treat oilsands crude the same as oil from elsewhere in the world, after finalizing the decision on Friday, February …

February 9, 2015 - 6:06 pm Canada, Oil and Gas 360 Articles

BPZ Energy Reports Year-end 2014 Reserves

BPZ Energy (BPZ) (BPZ), an independent oil and gas exploration and production company, today announced the results of an independent evaluation of the Company’s certified year-end 2014 oil reserves at offshore Block Z-1.

The following discussion …

February 9, 2015 - 5:55 pm Energy News

Dawson Geophysical and TGC Industries Shareholders Approve Strategic Business Combination

MIDLAND, Texas and PLANO, Texas, Feb. 9, 2015 /PRNewswire/ — Dawson Geophysical Company (“Dawson”) (DWSN) and TGC Industries, Inc. (“TGC”) (TGE) announced that at their respective special meetings of shareholders held on February 9, 2015, each …

February 9, 2015 - 5:53 pm Energy News

Resolute Energy Corporation Bounces Back

REN Closes at $1.20

DENVER, Feb. 9, 2015 /PRNewswire/ — Resolute Energy Corporation (“Resolute” or the “Company”) (REN) today announced that it had received notification on February 3, 2015, from the New York Stock Exchange (“NYSE”) that the …

February 9, 2015 - 5:51 pm Energy News
Russia Update:  Ukraine Related Sanctions Have Stopped Critical Oil & Gas Investment

Russia Update: Ukraine Related Sanctions Have Stopped Critical Oil & Gas Investment

Russia’s oil and gas industry faces many obstacles in today’s market, but sanctions may be causing the most damage

For the first time in a decade Russia’s credit rating was downgraded to junk by Standard & Poor’s rating agency last …

February 9, 2015 - 12:08 pm International, Oil and Gas 360 Articles
Columbia Pipeline Partners Kicks off Oil & Gas IPOs in 2015

Columbia Pipeline Partners Kicks off Oil & Gas IPOs in 2015

Columbia Pipeline Partners (ticker: CPPL) began trading on the New York Stock Exchange today following its spin-off from NiSource Partners (ticker: NI). Under terms of the spin-off, CPPL is transferred NI’s pipeline and storage assets, while NI retains ownership of …

February 6, 2015 - 7:20 pm MLPs, Oil and Gas 360 Articles

Fracking puts California governor, environmentalists at odds

Story by the Associated Press

In the 1970s, the environmental movement had no bigger political hero than California Gov. Jerry Brown. He cracked down on polluters, ended tax breaks for oil companies and promoted solar energy.

Forty years later, in …

February 6, 2015 - 7:09 pm Energy News

Japan’s trading houses to step up asset sale to defy resource slump

Story by Reuters

Faced with mounting writedowns on energy and metals assets, Japan’s trading houses are looking to step up the sale of assets to offset weaker income from resource businesses and fund shareholder returns, while reining in investment.

Like …

February 6, 2015 - 7:08 pm Energy News

Petrobras Announces New CEO and Executive Officers

Source: Petrobras

Petróleo Brasileiro SA – Petrobras informs that its Board of Directors, in a meeting held today, has approved with majority vote the election of Aldemir Bendine as CEO of Petrobras replacing the current CEO, Maria das Graças Silva …

February 6, 2015 - 7:05 pm Earnings

Special Report: Anatomy of Nigeria’s $20 billion “leak”

From Reuters:

In late 2013, Nigeria’s then central bank governor Lamido Sanusi wrote to President Goodluck Jonathan claiming that the state oil company had failed to remit tens of billions of oil revenues it owed the state.

After the letter …

February 6, 2015 - 6:58 pm Energy News
Chart of the Week: U.S. Production vs. China Demand

Chart of the Week: U.S. Production vs. China Demand

United States crude production is expected to be at its highest since 1986, according to information compiled from Bloomberg and the Energy Information Administration. The increased domestic production has allowed the U.S. to diminish its need for imports – a …

February 6, 2015 - 6:41 pm Chart of Week, International, Oil and Gas 360 Articles
Martin Midstream to Sell NGL Barges

Martin Midstream to Sell NGL Barges

Martin Midstream Partners (ticker: MMLP) announced yesterday that it entered into an agreement to sell six liquefied natural gas barges for a total price of $41.25 million. MMLP has decided to exit the natural gas liquids floating storage and trans-loading …

February 6, 2015 - 6:06 pm Midstream, Oil and Gas 360 Articles
Saudi Cuts Prices in Asia (Again) to Defend Market Share

Saudi Cuts Prices in Asia (Again) to Defend Market Share

OPEC’s biggest producer prices oil at record lows to the Asian market, raises rates in the U.S. and Europe

Saudi Aramco announced its prices for March, dropping prices to the Asian markets to their lowest in over a decade in …

February 6, 2015 - 4:15 pm International, Oil and Gas 360 Articles
Core Laboratories Draws on Experience to Navigate New Market

Core Laboratories Draws on Experience to Navigate New Market

Projecting oil recovery within fiscal year

Core Laboratories (ticker: CLB) closed the book on 2014 as its most profitable year in company history in its Q4’14 earnings release on January 28, 2015. Revenue for fiscal 2014 was $1,085 million, up …

February 5, 2015 - 7:52 pm Earnings, Oil and Gas 360 Articles, Oilfield Services
Callon Petroleum Fitting the Role of a Low-Cost Permian Producer

Callon Petroleum Fitting the Role of a Low-Cost Permian Producer

An Exclusive Interview with CPE’s CEO Fred Callon

Callon Petroleum (ticker: CPE) became a pure-play Permian Basin E&P no more than one year ago, but its efficiency in the United States’ greatest oil producing play is apparent. In a news …

Many oil firms plan no North Dakota layoffs despite cheap oil

Story by Reuters

Halliburton, Statoil ASA, Hess Corp and other North Dakota energy companies have decided, for now, not to lay off staff in the No. 2 U.S. oil producing state, hoping to be prepared for any prolonged rebound in …

February 5, 2015 - 7:27 pm Uncategorized

SEC Closes Inquiry of LINN Energy

LINN Energy, LLC (LINE) (“LINN”) and LinnCo, LLC (LNCO) (“LinnCo” and together with LINN, the “Company”) announced today that the Fort Worth Regional Office of the Securities and Exchange Commission (“SEC”) has formally notified LINN that …

February 5, 2015 - 7:19 pm Energy News

Bristow Group Reports Financial Results for its 2015 Fiscal Third Quarter and Nine Months Ended December 31, 2014

– THIRD QUARTER GAAP NET LOSS OF $1.0 MILLION ($0.03 LOSS PER DILUTED SHARE) AND NINE MONTH GAAP NET INCOME OF $69.2 MILLION ($1.94 PER DILUTED SHARE)
– THIRD QUARTER AND NINE MONTH ADJUSTED NET INCOME OF $24.7 MILLION ($0.70 …

February 5, 2015 - 7:16 pm Energy News, Uncategorized

Emerald Oil, Inc. Launches Public Offering of Common Stock

DENVER, CO — (Marketwired) — 02/05/15 — Emerald Oil, Inc. (NYSE MKT: EOX) (“Emerald” or the “Company”) announced today the launch of an underwritten public offering of $25,000,000 of the Company’s common stock, subject to market conditions. The Company has …

February 5, 2015 - 5:29 pm 360 Company Releases
Natural Gas Roundup for the Week Ended January 30, 2015

Natural Gas Roundup for the Week Ended January 30, 2015

roundup21NATURAL GAS INVENTORY (Week Ended 1/30/15)

Current: 2,428 Bcf

Actual Injection/(Withdrawal): (115) Bcf

Economist Average Estimate: (120) Bcf

Previous: 2,543 Bcf

Click here for the chart with five year averages.

Click here for an archive of EnerCom’s Inventory Reports.…

February 5, 2015 - 3:12 pm Commodity Pricing, Oil and Gas 360 Articles
S&P Downgrades Russian Oil and Gas Companies, China’s Rating Agency Disagrees

S&P Downgrades Russian Oil and Gas Companies, China’s Rating Agency Disagrees

‘The Big Three’ have all downgraded Gazprom, but China’s Dagong ratings agency recently issued the company its highest rating

Standard & Poor’s rating agency today downgraded Russia’s state-owned oil and gas giant Gazprom (ticker: OGZPY) and a number of other …

February 5, 2015 - 2:27 pm International, Oil and Gas 360 Articles

Noble Corporation plc Reports Fourth Quarter And Full Year 2014 Results, Announces Retirement Of Three Rigs

Noble Corporation plc (NE) today reported a fourth quarter 2014 loss from continuing operations of $595 million, or $2.38 per diluted share. Results for the quarter included an after-tax charge of $713 million, or $2.86 per diluted share,

February 4, 2015 - 6:54 pm Energy News

Petrobras’ CEO Foster, Five other Executives Resign

Story by Reuters

The chief executive and other senior management at Brazil’s Petrobras resigned on Wednesday amid a festering corruption scandal, setting off a scramble to find replacements capable of restoring investor confidence in the state-run oil company.

The company’s …

February 4, 2015 - 6:44 pm Uncategorized