Warren Resources, Inc. (WRES) announced today the appointment of Brian Gelman as Interim Chief Financial Officer, effective immediately. Stewart P. Skelly, the current Vice President and Chief Financial Officer, has resigned, effective immediately, in order to pursue other opportunities in connection with the relocation of his family to Ireland. This mutually agreed departure is not related to any disagreement with
“Energy resources are a blessing, not a curse.” Louisiana Governor Bobby Jindal Second-term Louisiana Governor Bobby Jindal is running for the 2016 Republican nomination. Jindal published his energy plan earlier this fall, based a 2014 energy plan which he had previously developed. Gov. Jindal’s key energy points are featured below. Promote energy development on federal lands, build the Keystone XL pipeline,
An interview with Corey Goulet, President of Keystone projects for TransCanada. Editor’s Note: In March 2015, Oil & Gas 360® interviewed Corey Goulet, boss of the Keystone XL pipeline project. Today (Nov. 6, 2015), the U.S. State Department and the Obama Administration officially denied TransCanada’s application to build the Keystone XL pipeline. In light of today’s announcement, Oil & Gas 360®
TransCanada Corporation (TRP) (TRP) (TransCanada) today announced it has entered into an agreement to sell a 49.9 percent interest in Portland Natural Gas Limited Partnership (PNGTS) to its master limited partnership, TC PipeLines, LP (TCP), for a purchase price of US$223 million. The sale is expected to close at the end of 2015, upon satisfaction of closing conditions. “The PNGTS
TransCanada to remove a port on the Energy East pipeline route TransCanada announced today that the company has decided to remove a port on its Energy East pipeline project from Quebec. The company said the decision was made after listening to local communities, key stakeholders and customers, according to a press release from TransCanada. The decision to drop the crude
Size and timing of production rollover will depend on OPEC output The Canadian Imperial Bank of Commerce (CIBC) released its Oil View today, making some changes to its price forecasts from its previous release in August. CIBC’s new call on WTI for 2015/2016 is $51.75/$61.25, down from $54.00/$62.50 in its previous report. CIBC also lowered its price forecast for European
House Energy and Power Subcommittee passes resolutions to stop overreach of one federal agency This week, the Energy and Power Subcommittee, chaired by Rep. Ed Whitfield (R-KY), passed two resolutions, H.J. Res 71 and H.J. Res 72, disapproving of two final rules issued by the Environmental Protection Agency (EPA) for new and existing power plants. The resolutions would provide for Congressional
Callon reports 73% increase in year-over-year production Callon Petroleum (ticker: CPE) announced its third-quarter 2015 results yesterday, showing a year-over-year production increase of 73%, 77% oil-weighted. The company reported an adjusted EBITDA margin of about 70%, compared to 69% a year ago, in large part to lower G&A and LOE costs. The company’s total adjusted EBITDA for the quarter amounted
Estimates: Anywhere from 13% to 25% of Oil Production Loss The slew of problems with Brazil’s Petrobras (ticker: PBR) have been well-documented over the past several months. A widespread corruption scandal has outed high-ranking PBR executives and even government officials, leading to free-falling approval ratings for President (and former Petrobras Chairman) Dilma Rousseff. The company’s debt has ballooned past $120
