From Bloomberg Star Petroleum Refining Pcl, a Thai refining unit of Chevron Corp., plans an initial public offering of as much as 15.6 billion baht ($434 million) to repay some loans and fulfill its obligation to the government for a stock listing. Star Petroleum, owned 64 percent by Chevron at present, will raise about 3.1 billion baht from the sale
HOUSTON, Nov. 09, 2015 (GLOBE NEWSWIRE) — Energy XXI (EXXI) today announced financial and operating results for the three months ended September 30, 2015 (fiscal 2016 first quarter), and provided an operations update. Highlights include: Production continues to be stable 1Q 2016 net oil production averaged 42,200 barrels per day 1Q 2016 total net production averaged 58,900 barrels equivalent per day
DALLAS–(BUSINESS WIRE)–Energy Transfer Equity, L.P. (NYSE: ETE) and Energy Transfer Partners, L.P. (NYSE: ETP) announced that effective today, Marshall (Mackie) S. McCrea, formerly President and Chief Operating Officer of ETP, has been promoted to Group Chief Operating Officer and Chief Commercial Officer for ETE. Also effective today is the appointment of long-time ETE board member, Matthew S. Ramsey as President
HOUSTON, Nov. 9, 2015 /PRNewswire/ — Energy Water Solutions (“EWS”) today announces the culmination of a six-month project to irrigate a cotton crop in Pecos, Texas, using recycled produced water from nearby oil and natural gas activity in the Delaware Basin. This cotton-growing project is the first of its kind in Texas and required a groundbreaking coalition of partners to make
Capital will be raised in Five Tranches Advocates for the highly scrutinized merger between Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) possibly received the most positive news to date in a news release issued on November 5, 2015. Halliburton, the world’s second largest oilservice provider by market capitalization, will issue a total of $7.5 billion in senior notes to
Hercules Offshore, Inc. (Nasdaq: HERO) (the “Company” or “Hercules”) announced today that it has completed its financial restructuring and emerged from Chapter 11, and funding of the Company’s new $450 million senior secured credit facility has been completed. “Today marks the beginning of a new chapter for Hercules. Proactively restructuring our balance sheet early in the cycle generated significant benefits for
Commentary by Richard Zoellick, Special to The Wall Street Journal Secretary of State John Kerry’s new diplomatic process for dealing with Syria’s harrowing civil war involves convening a series of talks in Vienna. The effort is probably well-intentioned. But I cannot conceive of what he expects to accomplish. Does anyone really believe that Syria can be put back together again
Story by The Calgary Herald Rejection of the Keystone XL pipeline will complicate and add cost to getting western Canadian oil to U.S. markets but it isn’t expect to actually prevent any shipments reaching south of the border, observers say. The decision announced Friday by U.S. President Barack Obama was greeted with disappointment by Calgary oil producers, industry insiders and local businesspeople
Story by the Financial Post While TransCanada Corp. has been cooling its heels on its Keystone XL proposal for the past six years, the oil pipeline business has been booming in the United States. Crude oil pipeline mileage rose 9.1 per cent last year alone to reach 66,649 miles, according to data from the Washington, D.C.-based Association of Oil Pipe
Japan increasingly buying its oil from Russia Russia and Japan are becoming increasingly close energy partners, a trend that Igor Sechin, CEO of Rosneft (ticker: RNFTF) believes will continue into the future. Sechin said today that Russia’s oil exports to Japan rose 20% year-on-year in January-August 2015 despite a mutual decline in trade, Sechin said during a Russia-Japan energy cooperation
Total rig count follows similar trend as oil rigs The number of rigs drilling for oil in the United States declined again, continuing the trend for a tenth straight week. According to Baker Hughes (ticker: BHI) the number of rigs drilling fell by six to 572 for the week ended November 6, 2015. The count for rigs drilling for oil
Drilling Program Shifting to Plug-n-Perf Completions PDC Energy (ticker: PDCE) may be, generally speaking, in the early stages of its development of the Wattenberg Field. However, its rapid growth while maintaining a sturdy balance sheet can be matched by few in the industry. Only two companies in the coverage universe of Capital One Securities are in position for 35% growth
