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360 Articles

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U.S. Rig Count drops another 18 rigs, down to 868

This week’s Baker Hughes rig count shows that U.S. numbers declined by 18, resulting in the total count falling to 868 and marks the fifth straight decline. Canada decreased compared to last week with a total count of 119, representing a decrease of 15 rigs. Breakdown by region Of the regions tracked by Baker Hughes, only the DJ-Niobrara saw an[Read More…]

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Weekly Gas Storage: 84 Bcf Build

Natural Gas Inventories as of September 13, 2019 The EIA has released its natural gas inventory report, showing another build of 84 Bcf as of September 13. Working gas in storage was 3,103 Bcf as of Friday, September 13, 2019, according to EIA estimates. This represents a net increase of 84 Bcf from the previous week. Stocks were 393 Bcf[Read More…]

Source: Reuters

Saudi officials considering delaying IPO after drone attack: WSJ

Source: Reuters Saudi Arabia officials are discussing delaying Aramco’s initial public offering as attacks on the company’s oil facilities have drastically reduced their output, the Wall Street Journal reported on Monday, citing people familiar with the matter. The company is expected to move forward with presentations to analysts and meetings with bankers as planned. However, Saudi energy officials and Aramco[Read More…]

September 16, 2019 - 10:30 am 360 Articles, Closing Bell Story, Energy News, Finance
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U.S. Rig Count falls again, down 12. Lowest count in two years.

Compiled by, Oil & Gas 360 This week’s Baker Hughes rig count shows that U.S. numbers declined by 12, resulting in the total count falling to 886 and marks the fourth straight decline. Canada decreased compared to last week with a total count of 134, representing a decrease of 13 rigs. Compared to this time last year, its total is[Read More…]

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Weekly Gas Storage: 78 Bcf Build

Compiled by Oil & Gas 360 Natural Gas Inventories as of September 6, 2019 The EIA has released its natural gas inventory report, showing another build of 78 Bcf as of September 6. Working gas in storage was 3,019 Bcf as of Friday, September 6, 2019, according to EIA estimates. This represents a net increase of 78 Bcf from the[Read More…]

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Another Strong Crude Inventory Draw – Decrease by 6.9 Million Barrels

Compiled by, Oil & Gas 360 Weekly Crude Oil Storage as of September 6, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.9 million barrels from the previous week. At 416.1 million barrels, U.S. crude oil inventories are about 2% below the five year average for this time of year, according to the[Read More…]

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U.S. Rig Count Down Another 6

Compiled by, Oil & Gas 360 This week’s Baker Hughes rig count shows that U.S. numbers declined by 6, resulting in the total count falling to 898 and marks the third straight decline. Canada decreased compared to last week with a total count of 147, representing a decrease of 3 rigs. Compared to this time last year, its total is[Read More…]

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Weekly Gas Storage: 84 Bcf Build

Compiled by Oil & Gas 360 Natural Gas Inventories as of August 30, 2019 The EIA has released its natural gas inventory report, showing a build of 84 Bcf as of August 30. Working gas in storage was 2,941 Bcf as of Friday, August 30, 2019, according to EIA estimates. This represents a net increase of 84 Bcf from the[Read More…]

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Crude Oil Inventories Decrease by 4.7 Million Barrels

Compiled by, Oil & Gas 360 Weekly Crude Oil Storage as of August 30, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.7 million barrels from the previous week. At 422.9 million barrels, U.S. crude oil inventories are at the five year average for this time of year, according to the EIA crude[Read More…]

U.S. Rig Count Continues Decline

U.S. Rig Count Continues Decline

Compiled by Aaron Vandeford, Oil & Gas 360 How low can we go? This week’s Baker Hughes rig count shows that U.S. numbers declined by 12, resulting in the total count falling to 904 and marks the second consecutive week of double-digit declines. Canada increased compared to last week with a total count of 150, representing an increase of 11[Read More…]

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Weekly Gas Storage: 60 Bcf Build

Compiled by Oil & Gas 360 Natural Gas Inventories as of August 23, 2019 The EIA has released its natural gas inventory report, showing a build of 60 Bcf as of August 23. Working gas in storage was 2,857 Bcf as of Friday, August 23, 2019, according to EIA estimates. This represents a net increase of 60 Bcf from the[Read More…]

Source: Tallgrass Energy

Tallgrass Energy Receives ‘Take Private’ Proposal

By Tyler Losier, Energy Reporter, Oil & Gas 360 Tallgrass Energy receives preliminary proposal letter from Blackstone Infrastructure Partners offering to take the company private Tallgrass Energy LP (stock ticker: TGE), a midstream infrastructure company, received a non-binding preliminary proposal letter from Blackstone Infrastructure Partners (stock ticker: BX) on Tuesday, offering to acquire all of the outstanding Class A shares[Read More…]

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Crude Oil Inventories Decrease by 10 Million Barrels

Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Weekly Crude Oil Storage as of August 23, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 10.0 million barrels from the previous week. At 427.8 million barrels, U.S. crude oil inventories are at the five year average for this time of year, according[Read More…]

BP Divests Alaska for $5.6 Billion

BP Divests Alaska for $5.6 Billion

By Tyler Losier, Energy Reporter, Oil & Gas 360 BP sells its entire Alaskan business to Hilcorp for a total consideration of $5.6 billion BP (stock ticker: BP), through its subsidiary BP Alaska, has agreed to sell its entire business in the state to Hilcorp Alaska, a subsidiary of Hilcorp Energy Company, for a total consideration of $5.6 billion. Under[Read More…]

President and CEO of Panhandle Oil and Gas Resigns

President and CEO of Panhandle Oil and Gas Resigns

By Tyler Losier, Energy Reporter, Oil & Gas 360 Paul F. Blanchard Jr. steps down as president, CEO and director of Panhandle Oil and Gas Panhandle Oil and Gas (stock ticker: PHX), a mineral and leasehold acreage-focused capital allocator, has announced that Paul F Blanchard Jr., the company’s president, chief operating officer and a member of its board of directors,[Read More…]

Source: Qatar Petroleum

Qatar Petroleum Partners with Total in Africa, South America

By Tyler Losier, Energy Reporter, Oil & Gas 360 Qatar Petroleum signs agreement to farm Total-held exploration acreage in Namibia, Guyana and Kenya Qatar Petroleum (QP), Qatar’s state-owned energy company, has signed an agreement with French supermajor Total SA (stock ticker: TOT), under which the company will farm into Total-held exploration acreage in Namibia, Guyana and Kenya. With regards to[Read More…]

Source: Data Gumbo

Verisk to Acquire Genscape

By Tyler Losier, Energy Reporter, Oil & Gas 360 Genscape will become a part of Verisk subsidiary Wood Mackenzie Verisk (stock ticker: VRSK), a data analytics provider headquartered in New Jersey, has signed a definitive agreement to acquire Genscape, a provider of real-time data for commodity markets, from Daily Mail and General Trust (DMGT) for $364 million in cash. As[Read More…]

Source: ExxonMobil

ExxonMobil Partners with Carbon Capture Company

By Tyler Losier, Energy Reporter, Oil & Gas 360 ExxonMobil partners with Mosaic Materials in order to pursue carbon capture technology ExxonMobil (stock ticker: XOM), an international oil and gas supermajor, has partnered with Mosaic Materials, a chemicals and engineering company, in order to explore and advance technology that can be used to remove carbon dioxide from emissions sources. The[Read More…]

Source: PDC Energy

PDC Energy to Acquire SRC Energy

By Tyler Losier, Energy Reporter, Oil & Gas 360 PDC Energy to acquire SRC Energy in all-stock transaction valued at approximately $1.7 billion PDC Energy Inc. (stock ticker: PDCE), an independent E&P based out of Denver, has entered into a definitive agreement to acquire SRC Energy Inc. (stock ticker: SRCI), also located in Denver, in an all-stock transaction valued at[Read More…]

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U.S. Rig Count Drops Significantly

Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Canadian numbers down by three This week’s Baker Hughes rig count shows that U.S. numbers declined by 19, resulting in the total count falling to 916. Compared to this time last year, numbers are down 128. Canada is also down compared to last week with a total count of 139,[Read More…]

Enerflex Appoints New CFO, General Counsel

Enerflex Appoints New CFO, General Counsel

By Tyler Losier, Energy Reporter, Oil & Gas 360 Enerflex names Sanjay Bishnoi as senior vice president and CFO, David Izett as senior vice president and general counsel Enerflex Ltd. (stock ticker: ENRFF), a Calgary-based oilfield service company, has appointed Sanjay Bishnoi as senior vice president and chief financial officer, and David H. Izett as senior vice president and general[Read More…]

Casillas Petroleum Resource Partners and Energy Water Services Form New Midstream Company

Casillas Petroleum Resource Partners and Energy Water Services Form New Midstream Company

By Tyler Losier, Energy Reporter, Oil & Gas 360 Casillas Petroleum Resource Partners and Energy Water Services team up to form Woody Creek Midstream Casillas Petroleum Resource Partners LLC, a portfolio company of Kayne Anderson Energy Funds, and Energy Water Services LLC, a water infrastructure company owned by Halmos Capital Partners, have entered into a partnership in order to jointly[Read More…]

August 23, 2019 - 1:48 pm 360 Articles, Closing Bell Story, E&P, Midstream, Private Equity
Paal Kibsgaard (source: Schlumberger Limited)

Former Schlumberger CEO Recommended for Chairman Role at Borr Drilling

By Tyler Losier, Energy Reporter, Oil & Gas 360 Borr Drilling board of directors recommends appointment of Paal Kibsgaard as chairman The board of directors for Borr Drilling Limited (stock ticker: BORR), an international drilling contractor based out of Bermuda, has recommended former Schlumberger (stock ticker: SLB) CEO Paal Kibsgaard be appointed as the company’s new chairman, following a unanimous[Read More…]

Source: Enverus

Drillinginfo Announces Name Change

By Tyler Losier, Energy Reporter, Oil & Gas 360 Drillinginfo changes corporate name to Enverus Drillinginfo, an energy SaaS and data analytics company, is officially changing its corporate name to Enverus, marking both the company’s 20th anniversary and its achievement of surpassing $300 million in annual recurring revenue. According to an Enverus press release, the new name is comprised of[Read More…]

Source: Comstock Resources

Ronald Mills Appointed VP of Finance and Investor Relations at Comstock Resources

By Tyler Losier, Energy Reporter, Oil & Gas 360 Comstock Resources appoints Johnson & Rice alum Ronald Mills as its new VP of finance and investor relations Comstock Resources Inc. (stock ticker: CRK), an independent E&P based out of Frisco, Texas, has appointed Ronald Mills as its vice president of finance and investor relations. Mills joins the company in the[Read More…]

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Weekly Gas Storage: 59 Bcf Build

Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Natural Gas Inventories as of August 16, 2019 The EIA has released its natural gas inventory report, showing a build of 59 Bcf as of August 16. Working gas in storage was 2,797 Bcf as of Friday, August 16, 2019, according to EIA estimates. This represents a net increase of[Read More…]

Source: Solaris Water Midstream

H2O Midstream Acquires Sabalo Energy Assets, Closes 15-Year Agreement

By Tyler Losier, Energy Reporter, Oil & Gas 360 H2O Midstream purchases produced water infrastructure from Sabalo Energy and executes a 15-year acreage dedication H2O Midstream LLC, a water infrastructure company based in Houston, has acquired produced water infrastructure from Sabalo Energy LLC, concurrent with the execution of a 15-year acreage dedication to provide produced water gathering, disposal and recycling[Read More…]

Source: Pembina Pipeline Corporation

Pembina to Acquire Kinder Morgan Canada and Cochin Pipeline for CAD $4.35 Billion

By Tyler Losier, Energy Reporter, Oil & Gas 360 Pembina Pipeline Corporation will purchase Kinder Morgan Canada and U.S. portion of Cochin Pipeline for CAD $4.35 billion Pembina Pipeline Corporation (stock ticker: PBA), a midstream service provider based out of Calgary, has entered into agreements to acquire Kinder Morgan Canada Limited (stock ticker: KMLGF) and the U.S. portion of the[Read More…]

Source: Ashtead Technology

Forum Energy Technologies Sells Ashtead Technology

By Tyler Losier, Energy Reporter, Oil & Gas 360 Forum Energy Technologies to sell its aggregate 40% interest in Ashtead Technology for $39 million Forum Energy Technologies Inc. (stock ticker: FET), a global oilfield products company, has entered into a definitive agreement through its subsidiaries to sell an aggregate 40% interest in Ashtead Technology, a subsea rentals company, to majority[Read More…]

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Crude Oil Inventories Decrease by 2.7 Million Barrels

Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Weekly Crude Oil Storage as of August 16, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.7 million barrels from the previous week. At 437.8 million barrels, U.S. crude oil inventories are about 2% above the five year average for this time of[Read More…]