Via TASS: Ukraine’s cabinet of ministers has banned Naftogaz of Ukraine from importing gas from Russia, according to Prime Minister Arseniy Yatsenyuk. “The cabinet has decided to order Naftogaz to stop buying Russian gas. Russia got it all wrong: it’s not them who stopped gas supplies – we stopped buying it,” he said. The prime minister said the main reason
Via Reuters: Up to $2 trillion in petroleum and coal projects will not be needed if the world takes action to limit warming of the planet to 2 degrees Celsius, according to a report released this week ahead of a global climate summit in Paris. The report adds to a string of studies warning investors that measures to curb carbon
The rig count fell by 13 as of November 25, 2015 Baker Hughes Industries (ticker: BHI) released its weekly rig counts two days early this week, ahead of the Thanksgiving holiday. The company’s report showed that rigs tumbled by 13 following its previous release on November 20. The total rig count now stands at 744, just 38% of the number
OGE Energy Corp. (OGE) today announced that Sean Trauschke, President and CEO, has been named Chairman of the Board and will succeed Peter Delaney. Delaney will continue to serve on the Board of Directors until the end of the first quarter of 2016. Delaney, formerly President and CEO of OGE Energy, announced his plans to retire from the Company at
EXCO Resources, Inc. (XCO) (“EXCO” or the “Company”) today announced that the Company is executing on its disciplined capital allocation approach to ensure the highest and best uses of capital. EXCO will be selectively developing its asset base during the first six months of 2016, while deferring a significant amount of the Company’s drilling inventory until commodity prices improve. Capital
Thanksgiving represents one of the heaviest travel times in the United States The cost of gasoline across the United States is averaging $2.09 per gallon, as of November 23—that’s 73 cents lower than a year ago, and the lowest level ahead of Thanksgiving since 2009, according to the Energy Information Administration (EIA). Over the course of the last six Thanksgiving
Firm has invested $9 billion in energy thus far Warburg Pincus, a private equity firm with $40 billion under management in 120 companies, announced this week that it has successfully raised its latest fund. The new fund, called the Warburg Pincus Private Equity XII, L.P., received third party commitments in excess of its $12 billion hard cap, the company said
From the Houston Business Journal The Makeup of Houston’s SBA Loans Houston small businesses are coming off of a record-setting year for SBA loans. More than $800 million in SBA loans were issued to Houston small businesses in fiscal year 2015, compared to $688 million in loans in FY14. Of the 1,576 total SBA loans, 1,518 loans were issued as
The oil and gas industry is a cyclical business, but it also a business of trends. At last year’s The Oil & Gas Conference®, the term “sand” was mentioned repeatedly in regards to completion techniques and optimizations. The term of choice during the commodity downturn is “efficiency” as operators develop methods to generate the best bang for the buck. A
Dear Clients, Friends, Colleagues, and Partners: Happy Thanksgiving. EnerCom started 22 years ago with a single purpose – to provide needed consulting services to a worldwide client base in the oil and gas sector. Today, we engage with energy companies large and small, many with operations that span the globe. In between your frantic work e-mails and your time with
Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or “the Company”) announced today a farm-out agreement for a portion of its interest in Block 12 offshore Cyprus with BG International (“BG”). BG is acquiring a 35 percent interest in Block 12, which includes the Aphrodite natural gas discovery, for total cash consideration of $165 million. Aphrodite, discovered in 2011, has gross
PEDEVCO Corp. d/b/a Pacific Energy Development (NYSE MKT: PED) (the “Company”) announced today the financing of seven new Wattenberg horizontal wells in which the Company elected to participate for its full 25% working interest, and an eighth Wattenberg well in which the Company elected to participate for its full 4.4% working interest. As previously reported, these wells were drilled and
