CALGARY, ALBERTA–(Marketwired – May 16, 2016) – GRANITE OIL CORP. (“Granite“) (TSX:GXO)(OTCQX:GXOCF) announces that the annual borrowing base redetermination under its demand credit agreement has been completed and the borrowing base has been set at $60 million, consisting of a $45 million revolving demand credit facility and a $15 million revolving demand operating facility. The new borrowing base is a
TYLER, TX –(Marketwired – May 12, 2016) – Tanos Energy (“Tanos” or the “Company”), a private energy company focused on acquisitions and horizontal development in the Ark-La-Tex region, announced today that it has recently closed on the acquisition of assets located primarily in East Texas and North Louisiana from ConocoPhillips Company and Fidelity Exploration and Production Company (collectively the “Assets”) and
Crude oil price volatility has declined since its peak in March according to a report from the EIA on May 10, 2016. During the first three months of 2016, crude oil prices were relatively more volatile than in recent history. The elevated volatility occurred when overall oil prices were low, and volatility was driven by high uncertainty related to supply,
Primary Energy Consumption by Source and Sector – 2014 This graphic from the EIA helps visualize some of the data leaking out of the agency’s massive knowledge vault. In their measure for total U.S. energy consumption in 2014, they use the graphic to help visually break it down by source and end use (sector). For example, it’s not a
EnerCom: 22 years of advising and serving energy-centric clients DENVER – April 29, 2016 – Forbes Magazine (Forbes) commissioned an independent study by Statista to identify America’s Best Management Consulting Firms. EnerCom, Inc. was recognized in the inaugural study in the category of Oil and Gas. Results of the study are based on two online surveys. The first survey was conducted
Antero Resources Announces First Quarter 2016 Operations Update DENVER, April 14, 2016 /PRNewswire/ — Antero Resources (NYSE: AR) (“Antero” or the “Company”) today provided its first quarter 2016 operations update. Highlights Include: Average net daily gas equivalent production was a record 1,758 MMcfe/d (23% liquids), an 18% increase over the prior year quarter and a 17% increase sequentially Average net
CALGARY, ALBERTA–(Marketwired – April 14, 2016) – Touchstone Exploration Inc. (“Touchstone” or the “Company”) (TSX:TXP) announces an update regarding its credit facility. Touchstone’s borrowing base on its Trinidad based credit facility has been established at US$8,000,000 following the lender’s semi-annual borrowing base review. The Company currently has US$2,000,000 drawn on the credit facility, and US$6,000,000 is currently dedicated to the
HOUSTON, April 13, 2016 /PRNewswire/ — Evolution Petroleum Corporation (NYSE MKT: EPM) today announced that it has entered into a new three-year, senior secured reserve-based credit facility (“Facility”) with MidFirst Bank of Oklahoma City, Oklahoma. The $50 million Facility replaces the Company’s unsecured credit facility which was set to mature on April 29, 2016. The initial borrowing base was set
LAFAYETTE, La., April 14, 2016 /PRNewswire/ — Stone Energy Corporation (“Stone”) today announced an update on its first quarter operational activities and its borrowing base redetermination. First quarter results are expected to be reported in early May 2016. Production for the first quarter of 2016 was approximately 34 MBoe (or 204 MMcfe) per day, above the first quarter production guidance of 32-33
Slowing demand and increasing production puts North America on track for net liquids exports BP (ticker: BP) released its 2016 Energy Outlook – Focus on North America today. In the repost it forecasts that increasing oil and gas production, mixed with lower demand in North America, will lead to net exports by 2021. Liquids consumption is expected to decline by
How Much Borrowing Base will be Left after Redeterminations? Bankruptcy and restructuring have become prevalent words in the oil and gas industry during the present price downturn. With spring borrowing base redeterminations already under way or quickly approaching, speculation is rampant as to the extent of cuts and who will suffer the consequences when cuts are made. Oil & Gas
And the U.S. Has an Abundance of It Here’s another bit of energy upside, and it’s something for the shale gas producers to cheer about. The EIA released its 2015 power generation fuel data and natural gas was behind coal again—but just barely. At a horse race, 2015’s coal vs. natural gas race would be deemed a photo finish. But in 2016, natural gas is
