Lower commodity prices reduce size and volume of energy M&A in 2015 Lower prices for crude oil and natural gas reduced the average deal size and the volume of mergers and acquisitions in the oil and gas industry in 2015. According to a report from Ernst & Young, there were 382 U.S. oil and gas deals in 2015, down 23.8%
From Business Journals Members of Congress are like college students who put off writing their term papers and then ask their professor for an extension: Faced with a Friday deadline for funding the federal government, Congress simply gave itself more time. The new deadline for avoiding a government shutdown is Wednesday. By a voice vote Friday, the House followed the
Encana released a highly disciplined 2016 capital program today which directs 95 percent of its total $1.5 billion to $1.7 billion planned investment to its core four assets. The company will continue to capture sustainable cost efficiencies and maintain operational momentum in its core four assets to grow high margin production, generate quality corporate returns and position the company for
In advance of completion of its recommended combination with BG Group, Shell today announced further details of the proposed operational and administrative restructuring under consideration. Shell expects the restructuring will be required to achieve the expected benefits of the recommended combination, including previously disclosed and reported-on pre-tax synergies of $3.5 billion (subject to the bases of belief, principal assumptions and
Black Hills Corp. (BKH) today announced the appointment of Linden R. “Linn” Evans, to president and chief operating officer, effective Jan. 1, 2016. Evans has served as president and chief operating officer of utilities for the company since 2004. David R. Emery, who has served as chairman, president and CEO of Black Hills Corp. since 2004, will continue as chairman
Lynn Peterson to Assume CEO Position, co-CEOs will Step Down Synergy Resources Corporation (Synergy)(NYSE MKT: SYRG), a U.S. oil and gas exploration and production company focused on the Greater Wattenberg Area of the Denver-Julesburg Basin, today announced Synergy’s co-CEOs, Ed Holloway and William Scaff, are stepping down from their executive positions with the company effective December 31, 2015. Mr. Holloway
From Barron’s Natural gas prices fell to 2012 levels on Friday, down 11% for the week, and the pain continues Monday, as natural gas fell toward a 14-year low. Natural gas for January delivery slid 5.5% to $1.881 per million British thermal units at recent check. That’s territory that the commodity hasn’t seen since January 2002. If prices held at
Cheniere Board of Directors Appoints Board Members to Run the Company Until New CEO Found Cheniere Energy’s (ticker: LNG) first LNG shipment is just weeks away, and the man who co-founded the colossal operation will not be present to witness his company’s achievement. Charif Souki, the former Chairman, President and Chief Executive Officer of Cheniere Energy, has been removed from
Via The Moscow Times Japanese electronics company Toshiba has pulled out of the Russian consumer market over the weakening ruble and tough competition, the Kommersant newspaper reported Monday. The company is shutting down Toshiba CIS, the Russian division that sells televisions and kitchen appliances, maintaining only its b2b-unit Toshiba Rus. “We have fully quit the Russian consumer market. We sold
Congress expected to vote to lift crude oil export ban; economists worry about low inflation An end to the more than 40-year old crude oil export ban could soon be approaching. Members of Senate this week are expected to include a provision that will lift the export ban as part of the fiscal 2016 spending bill, aides from both parties
Rupert Murdoch: a man who believes America is exceptional The following are Rupert Murdoch’s remarks to the Hudson Institute, Nov. 30, 2015 – published with permission of the author Before I thank you Henry [Kissinger], and before delivering my modest message, I feel obliged to alert college students, progressive academics and all other deeply sensitive souls, that these words may contain phrases and
From the Longmont Times-Call Oil, gas issues expected to return in 2016 Colorado Legislature The issue of giving cities and counties more authority to locally regulate oil and gas drilling and production may resurface in next year’s session of the Colorado Legislature, two Boulder County lawmakers told Boulder County commissioners on Friday morning. Hopes that a special task force convened last
