Closing Bell Story‎ – Page 1680

Shell Midstream Partners, L.P. Announces Acquisition of Auger Pipeline System and Lockport Crude Terminal

November 11, 2015

Houston, Nov. 11, 2015 (GLOBE NEWSWIRE) — Shell Midstream Partners, L.P. (SHLX) today announced the execution of a Contribution Agreement to acquire Pecten Midstream LLC, which owns Lockport Crude Terminal (Lockport) and Auger Pipeline System (Auger), for $390 million from Shell Pipeline Company LP, a wholly owned subsidiary of Royal Dutch Shell plc. The acquisition price reflects an approximate 8.6 times

OPEC Countries: When the Money Runs Out, Then What?

November 11, 2015

Bridging the budget gap Lower commodity prices have hurt the economies of all of OPEC’s members considerably, with many of them needing to borrow money to bridge the budget gap. Libya, in particular, is expected to need large loans through the rest of the decade, with its borrowing as a percent of GDP reaching 68.15% this year, and an expectation

VAALCO Energy Beats Production Guidance, Set to Wind Down Capex

November 11, 2015

Raises Production Guidance for 2015 VAALCO Energy (ticker: EGY) reported average production volumes of 4,800 BOEPD in its Q3’15 results on November 9, 2015, marking a sequential increase of 6% from the prior quarter. The volumes surpassed the high end of guidance (4,700 BOEPD) and prompted EGY management to raise estimated 2015 averages to 4,400 to 4,700 BOEPD, up from

Keystone XL Rejection: The Canadian Perspective

November 11, 2015

Exclusive Interview: what does the U.S. rejection of the Keystone XL pipeline mean for future cross-border projects? In this exclusive interview with Oil & Gas 360®, Tim McMillan, President and CEO of the Canadian Association of Petroleum Producers (CAPP), discusses potential aftereffects of the Obama administration’s decision last week to reject TransCanada’s (ticker: TRP) application to build the Keystone XL

TransCanada Awarded Contract to Build US$500 Million Natural Gas Tuxpan Tula Pipeline in Mexico

November 11, 2015

MEXICO CITY, MEXICO–(Marketwired – Nov 11, 2015) – TransCanada Corporation (TRP)(TRP) (TransCanada) today announced that it has been chosen to build, own and operate the Tuxpan-Tula Pipeline in Mexico. Construction of the pipeline is supported by a 25-year natural gas transportation service contract with the Comisión Federal de Electricidad (CFE), Mexico’s state owned power company. “The Tuxpan-Tula Pipeline demonstrates our

Dell-EMC $67 Billion Buyout Threatened by Possible $9 Billion Tax Bill

November 11, 2015

From Reuters Dell Inc’s $67 billion offer to buy data storage company EMC Corp (EMC.N) could be derailed by a tax bill of up to $9 billion, technology news website Re/code reported on Tuesday, citing sources familiar with the matter. Certain key aspects of the deal, particularly a tracking stock, may not qualify for the sort of tax treatment the

Saudi Arabia Turns to Debt to Offset Spending Deficits

November 10, 2015

Debt levels could increase to as much as 50% of GDP in five years Last week, the Saudi Arabian government was rumored to be creating a division specializing in monitoring government spending. Today, the Financial Times reports that OPEC’s chief producer will invest in international bond markets for the first time in its history. A senior official said the finalization

EIA Lowers Short-Term Price Outlook, IEA Predicts $80 Oil in 2020

November 10, 2015

Short-term prices likely to remain low Both the Energy Information Administration (EIA) and International Energy Agency (IEA) released their most recent pricing outlooks for the energy markets today, giving a glimpse into what two of the most widely followed energy agencies see as the future of energy markets. The EIA’s Short Term Energy Outlook (STEO) forecasts prices out through 2016,

U.K.’s National Grid Seeks Buyers for Majority Stake in Natural Gas Network

November 10, 2015

From The Wall Street Journal LONDON—U. K. natural-gas and electricity network operatorNational Grid PLC is seeking buyers for a majority stake of its domestic gas-distribution business to rebalance its portfolio and create extra value for shareholders. Analysts value the business, which comprises four of the U.K.’s eight regional distribution networks which deliver gas to around 10.9 million customers, at £10 billion

Tesoro Corporation Reaches Agreement to Sell the Los Angeles Storage and Pipeline Assets to Tesoro Logistics for $500 Million

November 10, 2015

SAN ANTONIO – November 10, 2015 – Tesoro Corporation (NYSE:TSO, Tesoro) and Tesoro Logistics LP (TLLP) today announced that subsidiaries of Tesoro have agreed upon terms for the sale of crude oil and refined product storage and pipeline assets in Los Angeles, California (the “Los Angeles Refinery Storage and Handling Assets”) to TLLP for a total consideration of $500 million.

Exxon, Total Join Forces to Drill Uruguay’s First Offshore Well

November 10, 2015

From Reuters MONTEVIDEO, Nov 9 (Reuters) – U.S. oil company Exxon Mobil has acquired a 35 percent stake in an oil block off Uruguay’s coast, teaming up with France’s Total to spud the country’s first offshore exploratory well, state oil firm ANCAP said on Monday. The well will be drilled about 400 km (249 miles) from the seaside capital Montevideo

EQT Midstream Partners Announces Pricing of Public Offering of Common Units

November 10, 2015

PITTSBURGH–(BUSINESS WIRE)–EQT Midstream Partners, LP (NYSE: EQM), an EQT Corporation company, announced today that it has priced an underwritten public offering of 5,650,000 common units representing limited partner interests. Total gross proceeds of the offering (before underwriters discounts and commissions and estimated offering expenses) will be approximately $406 million. EQT Midstream Partners, LP (EQM) has granted the underwriters a 30-day

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