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360 Articles

Source: Sundance Energy

Sundance Energy Divests ~$30 Million Worth of Texas Assets

By Tyler Losier, Energy Reporter, Oil & Gas 360 Sundance Energy sells Dimmit county assets for $29.5 Million Sundance Energy Australia Limited (stock ticker: SNDE), along with its wholly-owned Denver-based subsidiary Sundance Energy Inc., has entered into a definitive agreement with an unnamed company to sell its Dimmit county, Texas assets for a purchase price of $29.5 million. The assets[Read More…]

Iran Reportedly Seizes Oil Tanker in Strait of Hormuz

Iran Reportedly Seizes Oil Tanker in Strait of Hormuz

By Tyler Losier, Energy Reporter, Oil & Gas 360 Iranian Revolutionary Guard seizes foreign tanker, claims it was smuggling fuel Iran’s Islamic Revolutionary Guard Corps Navy has reportedly seized a foreign oil tanker traveling through the Strait of Hormuz, claiming that the ship was attempting to smuggle Iranian oil out of the country. Based on a series of videos released[Read More…]

Bam! – It’s Earnings Season Again

Bam! – It’s Earnings Season Again

By Aaron Vandeford, Managing Director, EnerCom EnerCom, Inc. has compiled Second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 95 E&P and 73 Oilfield Service companies in the EnerCom database. Download EnerCom’s full chart of estimates. Listen to Q2 earnings calls. The median E&P company earnings estimate for the quarter ending June 30,[Read More…]

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Weekly Gas Storage: 62 Bcf Build

Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Natural Gas Inventories as of July 12, 2019 The EIA has released its natural gas inventory report, showing a build of 62 Bcf as of July 12. Working gas in storage was 2,533 Bcf as of Friday, July 12, 2019, according to EIA estimates. This represents a net increase of[Read More…]

Northern Delaware Basin Operations 

From Concho.com

Kimmeridge Energy Joins Forces with Desert Royalty

By Tyler Losier, Energy Reporter, Oil & Gas 360 Newly-formed Desert Peak Minerals to be largest pure-play mineral royalty company in Delaware Basin Kimmeridge Energy Management Company, a private equity firm focused on acquiring unconventional oil and gas assets, has entered into a definitive agreement with Desert Royalty Company to combine the two companies’ assets to form Desert Peak Minerals.[Read More…]

Source: Bayou City Energy

Vanguard Emerges from Chapter 11 as Grizzly Energy

By Tyler Losier, Energy Reporter, Oil & Gas 360 Vanguard Natural Resources completes financial restructuring, emerges as Grizzly Energy Vanguard Natural Resources, a Houston-based onshore energy company, has successfully completed its Chapter 11 financial restructuring process, emerging as a new limited liability company under the name Grizzly Energy. According to the Houston Chronicle, this is the second time in two[Read More…]

Whiting Petroleum Names New CFO

Whiting Petroleum Names New CFO

By Tyler Losier, Energy Reporter, Oil & Gas 360 Michael J. Stevens steps down as CFO, Correne S. Loeffler selected as replacement Whiting Petroleum Corporation (stock ticker: WLL), a Denver-based independent E&P with an oil-focused asset base, has named Correne S. Loeffler as Chief Financial Officer, effective August 1. She will replace Michael J. Stevens, who is stepping down after[Read More…]

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Crude Oil Inventories Decrease Again

Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Weekly Crude Oil Storage as of July 12, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.1 million barrels from the previous week. At 455.9 million barrels, U.S. crude oil inventories are about 4% above the five year average for this time of[Read More…]

Conference Spotlight: Williston Basin Presenters

Conference Spotlight: Williston Basin Presenters

By Tyler Losier, Energy Reporter, Oil & Gas 360 The Oil and Gas Conference’s Williston Basin presenters cumulatively produce 633,800 BOEPD From August 11-14, Oil & Gas 360’s parent company – EnerCom – will host its 24th annual The Oil and Gas Conference® at the Westin Downtown Hotel in Denver, Colorado. This event offers investment professionals the opportunity to hear[Read More…]

July 17, 2019 - 7:00 am 360 Articles, Closing Bell Story, E&P, EnerCom Inc, TOGC24
Oil Tanker Disappears in the Strait of Hormuz

Oil Tanker Disappears in the Strait of Hormuz

By Tyler Losier, Energy Reporter, Oil & Gas 360 UAE denies ownership of the Panama-flagged vessel, which has been missing for two days The Riah, a 190-foot Panama-flagged oil tanker traveling through the Strait of Hormuz, has been missing since Saturday after its transponder stopped broadcasting near the coast of the small Iranian island of Qeshm. According to the Associated[Read More…]

Source: Mach Resources

Private Equity Firm Forms Second Partnership With E&P

By Tyler Losier, Energy Reporter, Oil & Gas 360 Mach Resources and Bayou City Energy form BCE-Mach II LLC, signs two PSAs Mach Resources, an independent E&P founded in January of 2017, and upstream-focused private equity firm Bayou City Energy, have formed BCE-Mach II LLC, representing the second partnership between the two companies. Their first collaboration, BCE-Mach LLC, continues to[Read More…]

Source: Parker Drilling Company

Parker Drilling’s President and CEO Retires

By Tyler Losier, Energy Reporter, Oil & Gas 360 President and CEO of Parker Drilling will retire later this year Parker Drilling Company’s (stock ticker: PKD) president, CEO and director Gary Rich will be retiring from his position later this year, once a suitable replacement can be found. Parker’s board of directors is actively conducting a comprehensive search for a[Read More…]

Callon and Carrizo Merger: Conference Call Excerpts

Callon and Carrizo Merger: Conference Call Excerpts

Compiled by Bevo Beaven and Tyler Losier, Oil & Gas 360 In light of Callon and Carrizo’s $3.2 billion merger, the two companies held an investor conference call this morning. Below are notable excerpts, compiled from Bloomberg’s transcription of the call: Q: It sounds like the combination of the two companies, increases the free cash flow generation and the construction[Read More…]

Source: Callon Petroleum

Upstream Oil Merger: Callon Acquires Carrizo in $3.2 Billion Texas Combo

By Tyler Losier, Energy Reporter, Oil & Gas 360 Callon adds oil-weighted assets in the Permian and Eagle Ford through all-stock transaction Callon Petroleum Company (stock ticker: CPE), an independent E&P focused on unconventional assets in the Permian, has struck a deal with Houston-based Carrizo Oil & Gas (stock ticker: CRZO) to acquire the company in an all-stock transaction worth[Read More…]

Equitrans, EQM Appoint President

Equitrans, EQM Appoint President

By Tyler Losier, Energy Reporter, Oil & Gas 360 Diana M. Charletta appointed president of both entities, retains position as COO and board member Equitrans Midstream Corporation (stock ticker: ETRN) and its general partner – EQM Midstream (stock ticker: EQM) – have appointed Diana M. Charletta as president of both entities. In addition to her new appointment, Charletta will retain[Read More…]

Source: Delek

New Biz Dev Boss at Delek US

By Tyler Losier, Energy Reporter, Oil & Gas 360 Daryl Schofield named EVP of business development at Delek US Holdings Delek US Holdings (stock ticker: DK), a downstream subsidiary of the Israeli-based Delek Group, has hired Daryl Schofield as the company’s new executive vice president of business development. Schofield, who will join Delek this August, has more than 35 years[Read More…]

EcoStim Energy Solutions provides completion and stimulation services in Argentina's Vaca Muerta shale play.

Seasonal Demand Patterns Give Argentinian LNG a Unique Opportunity

By Tyler Losier, Energy Reporter, Oil & Gas 360 Vaca Muerta production growth leads to LNG exports In the past few years, Argentina’s natural gas production has been steadily rising, mainly due to an increased focus on the Vaca Mueta shale and tight gas play, located in the Neuquén Basin. Currently, production from the Vaca Muerta accounts for 23% of[Read More…]

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U.S. Rig Count Declines by Five

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 five, resulting in the total count falling to 958. Compared to this time last year, numbers are down 96. Canada is also down compared to last week with a total count of 117,[Read More…]

Colorado: Aurora City Council Approves Operator Agreement with ConocoPhillips for 300-Well Development

Colorado: Aurora City Council Approves Operator Agreement with ConocoPhillips for 300-Well Development

By Bevo Beaven, Editor, Oil & Gas 360 Local control in Colorado: one city works out strict health, safety, environmental controls for oil and gas operators; lands in environmental movement crosshairs anyway Adjacent to Denver’s eastern border, the city of Aurora, Colorado sprawls into three counties—Arapahoe, Adams and Douglas. It is one of the nation’s fastest growing cities. It’s bigger[Read More…]

July 12, 2019 - 2:55 pm 360 Articles, Closing Bell Story, Crude Oil News, E&P, Regulatory
Source: Sweetcrudereport.com

Global Economic Slowdown Reducing Oil Demand

By Tyler Losier, Energy Reporter, Oil & Gas 360 Supply deficit quickly flipped to surplus: International Energy Agency data now shows 500,000 barrel per day global surplus for Q2 2019 Despite the OPEC+ supply cuts agreed upon earlier this month, a slowdown of the global economy is dampening oil demand, leading to a larger-than-expected surplus in crude reserves. According to[Read More…]

Source: Evolution Petroleum

Evolution Petroleum Names CEO

By Tyler Losier, Energy Reporter, Oil & Gas 360 LongBow, Halcon founder Jason Brown to replace Evolution’s interim CEO Robert Herlin Jason Brown, founder of Longbow Energy, has been appointed as president and chief executive officer of Evolution Petroleum Corporation (stock ticker: EPM) by the company’s board of directors, effective July 10. He will replace interim CEO Robert Herlin, who[Read More…]

Source: Occidental Petroleum

New Board Member Joins Occidental

By Tyler Losier, Energy Reporter, Oil & Gas 360 Former BlackRock director Robert M. Shearer elected to OXY board Occidental Petroleum (stock ticker: OXY), an international E&P with operations in the U.S., the Middle East and Latin America, has elected Robert “Bob” M. Shearer to its board of directors. Shearer, a 64-year-old former managing director at BlackRock, has over 35[Read More…]

Talos Energy Increases Borrowing Base, Announces Hedges

Talos Energy Increases Borrowing Base, Announces Hedges

By Bevo Beaven, Editor, Oil & Gas 360, with Olivier Goodrich Gulf of Mexico explorer Talos Energy (stock ticker: TALO) has added three new lenders to its credit facility and bumped its borrowing base to $850 million from the previous level of $600 million. Additionally, Talos has announced multiple derivative contracts, consisting of swaps and costless collars, to hedge its[Read More…]

Source: Royal Dutch Shell

Total Invests $500 Million in Tellurian, Enters Into LNG SPA

By Tyler Losier, Energy Reporter, Oil & Gas 360 Total commits to purchasing an aggregate of 2.5 Mtpa Total S.A. (stock ticker: TOT), through its subsidiaries Total Delaware and Total Gas & Power North America, has entered into a definitive agreement to purchase 1 Mtpa from Tellurian’s (stock ticker: TELL) Driftwood LNG terminal. Total will also invest $500 million in[Read More…]

July 11, 2019 - 1:19 pm 360 Articles, Closing Bell Story, E&P, Finance, LNG, Natural Gas News
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Weekly Gas Storage: 81 Bcf Build

Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Natural Gas Inventories as of July 5, 2019 The EIA has released its natural gas inventory report, showing a build of 81 Bcf as of July 5. Working gas in storage was 2,471 Bcf as of Friday, July 5, 2019, according to EIA estimates. This represents a net increase of[Read More…]

What Energy Security Looks Like: 90% of Natural Gas Used in U.S. Is Produced Domestically

What Energy Security Looks Like: 90% of Natural Gas Used in U.S. Is Produced Domestically

By Tyler Losier, Energy Reporter, Oil & Gas 360 The United States has been a net exporter of natural gas since 2017 In the United States, natural gas is one of the most prevalent sources of energy, and according to the EIA, in 2018, 90% of the natural gas consumed by Americans was produced domestically. In general, thanks to the[Read More…]

Source: Saudi Aramco

Aramco to Increase Oilfield Production Capacity by 500,000 BOPD

By Tyler Losier, Energy Reporter, Oil & Gas 360 Marjan and Berri oilfields to increase capacity by 550,000 BOPD, 2.5 BSCFD of gas Saudi Aramco, the state oil company of Saudi Arabia, has awarded 34 contracts worth $18 billion for increment programs to increase production in its Marjan and Berri oilfields. More specifically, the company plans to add an additional[Read More…]

Source: Chevron Phillips

Chevron Phillips and Qatar Petroleum Team Up Again

By Tyler Losier, Energy Reporter, Oil & Gas 360 New $8 billion project would include 2,000 KTA ethylene cracker Petrochemical company Chevron Phillips – equally owned by Chevron Corporation and Phillips 66 – has formed another joint venture with Qatar Petroleum (QP), this time to build an $8 billion petrochemical plant in the Gulf Coast region of the United States.[Read More…]

Edge of the Wattenberg: Colorado: Weld County Just Created its Own Oil & Gas Department

Colorado: Weld County Just Created its Own Oil & Gas Department

The Weld County oil & gas department will open August 5 Weld Commissioners say the action “solidifies their commitment of preserving oil and gas production in the county” By Bevo Beaven, Editor, Oil & Gas 360 In the wake of Colorado’s energy overhaul law, SB 19-181, which passed the Colorado legislature and was signed into law this spring, allowing counties[Read More…]

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Crude Oil Inventories Fall by 9.5 Million

Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Weekly Crude Oil Storage as of July 5, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 9.5 million barrels from the previous week. At 459.0 million barrels, U.S. crude oil inventories are about 4% above the five year average for this time of[Read More…]