Articles by: Oil & Gas 360

Anadarko Finding Growth in the Three Ds: Delaware, DJ and Deepwater

Anadarko Finding Growth in the Three Ds: Delaware, DJ and Deepwater

Anadarko increases its sales volume guidance 8 MMBOE as the company streamlines assets

Anadarko Petroleum Company (ticker: APC) announced its third-quarter results today, placing an emphasis on investing in assets the company feels offer it the best returns: the Delaware …

Strategic Oil & Gas Tests New Muskeg Well at 1,263 BOEPD

Strategic Oil & Gas Tests New Muskeg Well at 1,263 BOEPD

Strategic’s West Marlowe play receives first 4-well pad

Strategic Oil & Gas Ltd. (ticker: SOG) has drilled its first four-well pad in the development corridor at West Marlowe in northern Alberta. Strategic reported that its recent Muskeg horizontal well, 2-13, …

Nighthawk Energy: Production and Water Flood Update - Oil & Gas 360

Nighthawk Energy Updates Water Flood Pilot Project Dates

Nighthawk Energy (ticker: HAWK, NHEGY) announced today that its Arikaree Creek water flood pilot project is  expected to be pushed back until mid-November 2016, from Oct. 2016.

On 28 October 2016, the company performed a mechanical integrity test on the …

PetroQuest Aims to Close JV and Spud Cotton Valley Well in Q4; Recomplete Thunder Bayou in Q4 and Be Producing from the Upper Cris R-2 Formation in Q1 2017

PetroQuest Aims to Close JV and Spud Cotton Valley Well in Q4; Recomplete Thunder Bayou in Q4 and Be Producing from the Upper Cris R-2 Formation in Q1 2017

PetroQuest Energy, Inc. (ticker: PQ) announced a loss available to common stockholders for the quarter ended September 30, 2016 of $23,306,000, or $1.31 per share, compared to third quarter 2015 loss available to common stockholders of $51,910,000, or $3.19 per …

What to Watch for at this Week’s Fed Meeting – Will They or Won’t They in Dec.?

From the Wall Street Journal

Federal Reserve officials are likely to leave short-term interest rates unchanged when they meet Tuesday and Wednesday, just a week before the U.S. presidential election, and indicate they remain on track to raise them in …

November 1, 2016 - 11:57 am Closing Bell Story‎, Energy News

Yuma Energy Provides Information on Davis Petroleum Acquisition and Reverse Split

Yuma Energy, Inc. Provides Information Regarding its Recently Completed Merger with Davis Petroleum Acquisition Corp. and its 1-For-20 Reverse Stock Split

HOUSTON, TX / ACCESSWIRE / November 1, 2016 / Yuma Energy, Inc. (NYSE MKT: YUMA) (“Yuma”) announced today that …

November 1, 2016 - 11:34 am Closing Bell Story‎, Energy News

CenturyLink to Buy Level 3 for $34 Billion in Cash, Stock

From Bloomberg

Deal creates stronger competitor for business telecom services

CenturyLink would also benefit from Level 3 tax credits

CenturyLink Inc. agreed to buy Level 3 Communications Inc. for about $34 billion in cash and stock, creating a more formidable …

November 1, 2016 - 10:57 am Closing Bell Story‎, Energy News, Mergers & Acquisitions

GE-Baker Hughes: Some Call the Deal Unprecedented; Others See a ‘Competitive Nuisance’

From CNBC

Baker Hughes CEO Martin Craighead on Monday offered CNBC an explanation for why his company’s stock sank that morning when the oilfield services company announced it would merge with General Electric‘s oil and gas business: The deal …

November 1, 2016 - 10:35 am Closing Bell Story‎, Energy News

Chevron’s Wheatstone LNG Project to Cost US$5 Billion More, Woodside Plays Down Impact

From LNG World News

Chevron and its partners in the Wheatstone LNG project, including Australia’s Woodside, will have to splash more cash for the LNG project west of Onslow after the US energy giant announced a US$5 billion cost blowout.…

November 1, 2016 - 10:19 am Closing Bell Story‎, Energy News, LNG
Baker HuGE:  Oilservice Leader Baker Hughes and GE Oil and Gas to Combine as $32 Billion Company

Baker HuGE: Oilservice Leader Baker Hughes and GE Oil and Gas to Combine as $32 Billion Company

Consolidation Will Create a Services Company “Ideally Positioned to Grow in any Market”

Baker Hughes (ticker: BHI) will merge with GE’s (ticker: GE) oil and gas segment, forming a new company called Baker Hughes, A GE Company, with $32 billion …

WTI Down Nearly $2 as Uncertainty around OPEC Continues to Grow

WTI Down Nearly $2 as Uncertainty around OPEC Continues to Grow

OPEC appears to be struggling to close on a production agreement

Oil prices dropped Monday as markets continue to lose faith that OPEC will be able to reach a production agreement by the end of November.

A meeting this weekend …

Manitok Energy Closes Cardium Acquisition, Increases Production 37%

Manitok Energy Closes Cardium Acquisition, Increases Production 37%

Manitok acquires 1.8 MBOEPD of producing assets

Calgary-based Manitok Energy (ticker: MEI) announced today that the company closed its previously announced acquisition of certain assets of a private Alberta-based oil and gas company.

Manitok believes the assets will produce an …

Samson Oil & Gas Closes North Stockyard Asset Sale

Samson Oil & Gas Closes North Stockyard Asset Sale

Samson Oil & Gas Limited (ticker: SSN) has sold its interest in the North Stockyard field for $15 million. The transaction closed on Friday after Samson received the balance of $13.95 million of the purchase price.

In an announcement Samson …

Canada Approves C$1.3 Billion Western Gas Pipeline Expansion

From Reuters Canada:

The Canadian government on Monday approved the C$1.3 billion ($968.78 million) expansion of a natural gas gathering pipeline in western Canada belonging to a wholly owned subsidiary of TransCanada Corp TRP.TO, with 36 conditions attached.

The …

October 31, 2016 - 12:16 pm Closing Bell Story‎, Energy News

Dominion Midstream to Acquire Questar Pipeline for $1.725 Billion

Acquisition will more than double Dominion Midstream’s adjusted EBITDA

– Eliminates need for additional asset contributions or equity financing until second half of 2018

– Dominion to use proceeds to retire debt

Dominion Midstream Partners, LP (ticker: DM), and Dominion …

HollyFrontier to Acquire Suncor Energy’s Petro-Canada Lubricants Business for CAD$1.125 Billion

HollyFrontier to Acquire Suncor Energy’s Petro-Canada Lubricants Business for CAD$1.125 Billion

Combination Creates Fourth Largest Specialty Lubricants Producer in North America

HollyFrontier Corporation (ticker: HFC) today announced it has entered into a definitive agreement to acquire Suncor Energy’s Petro-Canada Lubricants business for CAD $1.125 billion (or approximately $845 million based on …

Saudi Aramco and Nabors Enter JV

JV to own, manage and operate Saudi-made onshore drilling rigs in Saudi Arabia starting 2Q 2017

Nabors Industries Ltd. (ticker: NBR) today announced the signing of an agreement to form a new Joint Venture in the Kingdom of Saudi Arabia …

October 31, 2016 - 11:27 am Closing Bell Story‎, Energy News, Oilfield Services

Pedersen to Retire as CEO of TD Bank, U.S. Banking Arm of TD Bank Group

From the Philadelphia Business Journal

Mike Pedersen will retire as CEO of TD Bank, the U.S. banking arm of TD Bank Group, one of the top 10 largest U.S. banks by deposits.

Effective June 1, 2017, Pedersen, 56, will be …

October 31, 2016 - 11:16 am Closing Bell Story‎, Energy News

Coal No Longer King for Iowa Utilities

Companies increasingly look more to lower priced wind and natural gas

From The Gazette

CEDAR RAPIDS — South of Alliant Energy’s Prairie Creek Generation Station on the city’s southwest side sits a mound of coal — enough to supply the …

OIL:  I Think We’ve Hit Bottom – Dallas Fed’s Director of Research

OIL: I Think We’ve Hit Bottom – Dallas Fed’s Director of Research

Oil Price Shocks: Mine Yucel Addresses Denver Energy Group

“It’s probably going to be a rough patch for the industry and the producing states for a while—till oil prices firm up. But I think we’ve hit bottom and we are …

Exxon Continues to Focus on the Long-term

Exxon Continues to Focus on the Long-term

Records 3Q production of 3.8 million boe/d, $2.7 billion earnings

The world’s largest publicly-traded oil company gave its 3Q 2016 earnings call this morning. Jeff Woodbury, Vice President of Investor Relations, was on the call while CEO Rex Tillerson was …

Total Outperforms Peers, Upstream Buoyed by LNG Business

Total Outperforms Peers, Upstream Buoyed by LNG Business

Total: “positioned to be the most profitable European major oil company”

French oil major Total (ticker: TOT) reported its third quarter earnings today. The company has continued to send the same message every quarter, focusing on increasing production and declining …

U.S. Rig Count Continues to Climb

U.S. Rig Count Continues to Climb

Total U.S. rig count now at 557 according to Baker Hughes

The total number of rigs drilling in the United States continued to climb last week according to information released by Baker Hughes Industries (ticker: BHI). There were 557 active …

October 28, 2016 - 4:57 pm Uncategorized
(FILES) This file photo dated 08 September, 2004 shows a PetroChina gas station attendant in Beijing returning the nozzle at the pumps.  Fidelity Investments, the world's largest mutual fund firm, has sold the bulk of its American Depositary Receipts (ADR) in PetroChina amid pressure from United States activists upset over its parent's interests in Sudan, reports said 17 May 2007.  AFP PHOTO / FILES / Frederic J. BROWN

PetroChina Income Down 94%, But the Company May Be Looking to Expand Internationally

Low oil prices continue to hurt Chinese oil major PetroChina

China’s largest crude oil and natural gas producer, PetroChina (ticker: PTR), released its third-quarter results today, reporting substantially lower income amid the global crude oil glut. Net income during the …

October 28, 2016 - 4:39 pm China, Closing Bell Story‎, Earnings, Oil and Gas 360 Articles
Source: The Society of Petroleum Engineers

PEMEX Loss Shrinks Year over Year

A weak peso and increased interest expenses continue to hurt PEMEX

Mexican state-owned oil major PEMEX reported its third quarter earnings Friday, showing a smaller net loss this quarter than last year. The company’s net income loss for the quarter …

Brexit Legal Challenge Fails; UK Court Declares Lawsuit ‘Not Viable’

From Law.com

A historic legal challenge designed to block Britain’s exit from the European Union has failed after a U.K. court rejected it as “not viable.”

Raymond McCord, a campaigner for victims of nationalist troubles in Northern Ireland, had initiated …

October 28, 2016 - 4:30 pm Closing Bell Story‎, Energy News
Blackbird Energy Inc. Announces Closing of CEE Private Placement for Proceeds of $8.0 Million

Blackbird Energy Inc. Announces Closing of CEE Private Placement for Proceeds of $8.0 Million

Blackbird Energy Inc. (TSX VENTURE:BBI) (“Blackbird” or the “Company“) is pleased to announce that it has closed the previously announced non-brokered private placement of 16,500,000 flow-through common shares (the “Shares“) pursuant to the Income …

October 28, 2016 - 3:41 pm 360 Profile Company, Closing Bell Story‎, Energy News
Is Wind Giant DONG Energy Selling its Oil & Gas Segment, or Not?

Is Wind Giant DONG Energy Selling its Oil & Gas Segment, or Not?

DONG says oil & gas segment is “not considered a long-term strategic commitment” – DONG engages J.P. Morgan to conduct a market assessment

Denmark-based wind energy developer DONG Energy (ticker: DENERG) successfully launched Europe’s biggest 2016 IPO in June. Besides …

Brazil to Join Russia, Kazakhstan in OPEC Cooperation Talks

From Bloomberg:

Brazil, the fastest-growing oil producer outside OPEC, will join talks with the exporters group in Vienna on Saturday about potential cooperation.

Oil and Gas Secretary Marcio Felix will leave Friday for the Austrian capital, Brazil’s Energy Minister …

October 28, 2016 - 12:17 pm Closing Bell Story‎, Energy News

Exxon Facing Historic Reserves Reduction as Slump Persists

From Bloomberg:

Exxon Mobil Corp. warned it may be facing the biggest reserves revision in its history as production sank to a 7-year low and profit slid amid a prolonged slump in energy markets.

About 3.6 billion barrels of …

October 28, 2016 - 12:09 pm Closing Bell Story‎, Energy News