Oil prices climbed on the eve of October’s busiest day of earnings season, but significant impairment charges put a damper on the brief rally. Large scale oil producers wrote off billions in the early stages of Q3’15 earnings, as Anadarko Petroleum (ticker: APC), Freeport McMoRan (ticker: FMX), Occidental Petroleum (ticker: OXY) and Whiting Petroleum (ticker: WLL) wrote off more than
Blackbird Energy (ticker: BBI) announced today that it has successfully drilled, logged and cased its third well at Elmworth, in the Montney, located at 2-20-70-7W6 (the “2-20” well). Blackbird has a 100% working interest in the 2-20 well, as it does in its other two wells, the 6-26 and the 5-26. The 2-20 well drill program included the drilling of a vertical pilot well from
Purchased First NTI Stake in 2013 Western Refining (ticker: WNR) is attempting to enhance its Midwest footprint, proposing a $2.56 billion buyout deal of Northern Tier Energy LP (ticker: NTI). WNR already owns 100% of the partnership and 38% of NTI shares. The proposal consists of a cash-and-stock offer that includes $17.50 and 0.2266 shares of WNR in exchange for
Nighthawk provides an update on its drilling program in the DJ Basin Nighthawk Energy (ticker: HAWK.L) released an operational update on its drilling program in the Denver-Julesburg (DJ) Basin. According to the press release from Nighthawk, the company is currently in the process of filing for approval of its planned Arikaree Water Flood Project with the Colorado Oil and Gas
Noble plans to form an MLP out of its midstream assets in the DJ Basin Houston-based Noble Energy (ticker: NBL) announced today that its wholly owned subsidiary Noble Midstream Partners has filed with the U.S. Securities and Exchange Commission (SEC) to perform an initial public offering of common units for a master limited partnership formed from the company’s DJ Basin
HOUSTON, Oct. 14, 2015 /PRNewswire/ — Western Gas Partners, LP (NYSE: WES) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.775 per unit for the third quarter of 2015. This distribution represents a 3-percent increase over the prior quarter and a 15-percent increase over the third quarter of 2014. WES’s third quarter
First Well Continues to Produce 3,000 BOEPD VAALCO Energy (ticker: EGY), a Houston-based exploration and production company with operations focused in West Africa, has commenced drilling the second well in its North Tchibala field project. The first well, the North Tchibala 1-H, was brought online in mid-September and continues to produce approximately 3,000 BOEPD (750 BOEPD net to EGY) without
HOUSTON, Oct. 8, 2015 /PRNewswire/ — EV Energy Partners, L.P. (NASDAQ: EVEP) announced that it has entered into an amendment to its senior secured credit facility that, among other things, increases the borrowing base from $500 million to $625 million. Additionally, EVEP’s debt to EBITDAX ratio covenants were amended as follows: Senior Secured Funded Debt to EBITDAX ≤ 3.00x through the
Vanguard closes on LRR Energy for $541 million Vanguard Natural Resources (ticker: VNR) announced today the closing of the previously announced deal to acquire LRR Energy. According to the company’s press release, a subsidiary of Vanguard merged into LRR Energy and, at the same time, Vanguard acquired LRE GP, the general partner of LRR Energy (collectively LRE) for total consideration
Efficiencies Paving the Way in the Midcontinent Advancements in Unit Corporation’s (ticker: UNT) drilling program is leading to increased production volumes and reduced expenditures, the company said in a press release on October 6, 2015. Production guidance for 2015 was revised upward to a range of 6% to 8%, exceeding its previous range of 2% to 4%. Based off of
PDC Energy, Inc. (“PDC” or the “Company”) (PDCE) today announced that it has extended the maturity of its revolving credit facility by two years to May 2020. The borrowing base has been re-affirmed at $700 million of which the Company has elected to keep its commitment level at $450 million. Chief Financial Officer Gysle Shellum stated, “We are very pleased
EnLink Midstream Completes Acquisition of Delaware Basin Assets DALLAS–(BUSINESS WIRE)–The EnLink Midstream companies, EnLink Midstream Partners, LP (NYSE:ENLK) (the Partnership) and EnLink Midstream, LLC (NYSE:ENLC) (the General Partner) (together with its subsidiaries “EnLink”), today announced that a subsidiary of the Partnership completed its previously announced acquisition of gathering and processing assets in the Delaware Basin (the “Delaware Basin System”) from
