Closing Bell Story‎ – Page 1675

Business Roundtable: “Strategic Changes” Needed for U.S. Energy Policy, Economy

November 20, 2015

Technological advances in the oil and gas industry have reformed the United States economy, but government policies are preventing the business sector from reaching its full potential. That is the assessment of the Business Roundtable, based on a 31-page report released on November 17, 2015. “Powering Forward; North America’s Energy Resurgence” began by detailing the tremendous leaps accomplished by the

Oil Rigs Take Another Dip

November 20, 2015

Total rig count falls to 757 as oil rigs resume trend downward The United States total rig count fell again this week, continuing a trend started last year when OPEC announced it would not defend oil prices. The total rig count fell by 10 this week to 757, with all of the last rigs coming from the oil patch, according

FX Energy Announces Extension of Expiration of Tender Offer for its Common Stock by ORLEN Upstream

November 20, 2015

FX Energy, Inc. (FXEN) (the “Company”) today announced that Kiwi Acquisition Corp. (“Merger Sub”), a wholly-owned subsidiary of ORLEN Upstream Sp. z o.o. (“ORLEN Upstream”), has extended the expiration of its previously announced tender offer (the “Tender Offer”) for all outstanding shares of common stock of the Company. The Tender Offer is being made pursuant to an Offer to Purchase

Eni Sells Remaining Galp Stake as Oil Company Disposes of Assets

November 20, 2015

Story by Bloomberg Eni SpA sold its remaining 4 percent stake in Galp Energia SGPS SA as the Italian oil producer disposes of assets that aren’t part of its main business. Eni raised 325 million euros ($347 million) by selling 33.1 million shares of Portugal’s biggest oil company at 9.81 euros apiece to institutional investors, the Rome-based company said in a statement on

Noble Midstream Partners LP Announces Postponement of Initial Public Offering

November 20, 2015

Noble Midstream Partners LP (“Noble Midstream”) today announced that it has postponed its previously-announced initial public offering. The board of directors and management of Noble Midstream’s general partner and its sponsor, Noble Energy, Inc. (“Noble Energy”), elected to postpone the offering as a result of unfavorable equity market conditions. Noble Midstream will continue to evaluate the timing for the proposed

Sanchez Energy Announces Results of Its Borrowing Base Redetermination

November 20, 2015

Sanchez Energy Corporation (SN)(“Sanchez Energy,” the “Company,” “we,” “our,” “us,” or similar terms), today announced that it has received commitments from its lending group to change the borrowing base under its $1.5 billion first lien revolving credit facility from $550 million to $500 million with an unchanged elected commitment of $300 million, effective today. With nothing drawn on the borrowing

Massive El Nino Gains Strength

November 20, 2015

From the Los Angeles Times One of the most powerful El Niños on record continues gathering strength and is looking increasingly likely to bring heavy rains to key Northern California areas that provide water for the rest of the state, according to a new forecast. There are better odds that the area around Lake Oroville, California’s second-largest reservoir, will have

Rocket Hits Site of Foreign Oil Firms Exxon, Shell, Eni in Iraq's Basra, Three Hurt

ISIS: a Criminal/Terrorist Enterprise with a Business Acumen that has No Historical Precedent

November 19, 2015

After Paris: U.S. and Russian air strikes target ISIS’s $50 million monthly oil revenues As the battle against ISIS continues, allied forces are increasingly targeting oil assets and the convoys of trucks being used to smuggle oil from ISIS-controlled oilfields. The idea is to cut off the major source of funding for the Islamic State’s barbaric terrorist activities. It is

Schlumberger, Cameron megadeal clears major regulatory hurdle

November 19, 2015

Houston Business Journal Schlumberger Ltd.’s (NYSE: SLB) proposed acquisition of Cameron International Corp. (NYSE: CAM) appears to be moving along according to plan. On Nov. 17, the U.S. Department of Justice unconditionally cleared the $14.8 billion stock-and-cash deal between the two energy giants, which was first announced in August. The department granted an early termination of the waiting period required

China Cuts Natural Gas Prices by 28%

November 19, 2015

China hopes to spur demand for natural gas China’s National Development and Reform Commission (NDRC), the country’s top economic planner, announced this week that it plans to reduce the benchmark city-gate prices for natural gas by 0.7 yuan ($0.11) per cubic meter for industry and commercial users. Analysts believe the move, which was expected, effectively reduces the cost of city-gate

Mass. AG Sees No Need for New NatGas Pipelines

November 19, 2015

From the Boston Globe Attorney General Maura Healey, who by law represents consumers in utility cases, said Wednesday that the state can meet its energy needs and lower costs without building new natural gas pipelines, citing a study that calls instead for improving energy efficiency and management. The study was commissioned by Healey’s office, but financed by two national foundations

Chevy Offers Natural Gas Alternative

November 19, 2015

From WardsAuto The Chevy Impala came our way for Wards 10 Best Engines testing recently, but it wasn’t a conventional gasoline-driven engine. Instead, the bi-fuel 3.6L DOHC V-6 runs both on gasoline and compressed natural gas, an energy source in the U.S. that is expected to last about 100 years. The CNG tank is 7.8 gallons (30 L) and is

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