Natural gas prices up again today on bullish storage data Natural gas prices rose to a five-month high today as information from the Department of Energy showed natural gas markets are tightening. Economist were expecting a build of 83 Bcf of natural gas this week. The actual numbers came in slightly lower at 82 Bcf. While storage levels remain well
Electrical generation from natural gas fired plants increased 19% in 2015 due to lower natural gas prices and increased legislation on carbon emissions. Coal and natural gas are now neck and neck in electrical generation capacity with EIA projecting natural gas to surmount coal as the top source of electricity. Natural gas-fired generation is expected to continue growth over the
DENVER, May 16, 2016 (GLOBE NEWSWIRE) — PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq:PDCE) announced today that the borrowing base on its revolving credit facility has been re-affirmed at $700 million and that the Company has elected to keep its commitment level at $450 million. Also today, as previously announced, the Company settled its “3.25% Convertible Senior Notes due
As of last week, rig count is 78% lower than the previous low in 2010 Crude oil price and rig count have moved primarily in conjunction with one another over the years. Rig count has fallen 81% since the most recent high of 2,094 during Q3 2014. The recent average high oil price came in Q2 2014 at $103.06/barrel,
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
