DCP Midstream Partners Announces Quarterly Distribution DCP Midstream Partners, LP (DPM) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.78 per common unit for the quarter ended June 30, 2015, or $3.12 per unit on an annualized basis. This distribution remains unchanged from the previous quarter and represents an increase of
Second Half 2015 Projections: Revenue of $408 to $415 Million, Free Cash Flow of $110 Million Core Laboratories (ticker: CLB) reported net income of $34.6 million, or $0.81 per share, on revenues of $204 million in its Q2’15 earnings release issued on July 22, 2015. The net income is 10% greater than Q1’15 and is exceeded by its free cash
Integrated Environmental Technologies (IET; Ticker: IEVM) is now producing its Excelyte biocide for use in 174 wells across the Uinta Basin in Utah and the Permian Basin in New Mexico. The biocide reduces the amount of hydrogen sulfide (H2S) down-well to near zero, reducing maintenance costs associated with corrosive damage caused by H2S. IET increased the number of wells it
Private equity firm Five Point Capital funds midstream MLP EVX EVX Midstream Partners announced its formation last Friday with a $75 million equity commitment from Five Point Capital Partners. EVX is a private midstream MLP that will focus on the development of crude oil, natural gas and produced water gathering, processing, treating and transportation assets in the Permian Basin, Eagle
Whiting increases capex Whiting Petroleum (ticker: WLL) announced that it will increase its capital expenditures for 2015 to $2.3 billion, $300 million more than originally planned, on the back of strong well results. According to a company press release, Whiting estimates second quarter production at 15.5 MMBOE, or 170,200 BOEPD. These production estimates represent a 2% increase over the first
Canada’s Montney shale play, which stretches from Western Alberta northwest into British Columbia, has traditionally been gas focused, but a liquids- and condensate-rich window in the Montney has been attracting the attention of major names in the oil and gas industry. Companies like Shell (ticker: RDSA), Encana (ticker ECA), Apache (ticker: APA) and CNRL (ticker: CNQ) have all been building
On July 15, 2015, Penn Virginia (ticker: PVA) announced the sale of its East Texas assets to an undisclosed buyer for gross proceeds of $75 million. The sale is expected to close by August 2015 and includes approximately 33,400 net acres in the Cotton Valley and Haynesville Shale with average Q2’15 production of 1,870 BOEPD (76% gas). The acreage includes
Energy Transfer Partners Moves Susser Holdings to Sunoco LP Energy Transfer Partners (ticker: ETP) announced that it plans a 100% dropdown of Susser Holdings Corp. (SHC) for approximately $1.94 billion to its subsidiary Sunoco LP (ticker: SUN). In addition, there will be an exchange for 11 million SUN units owned by SHC for another 11 million new Sun units to
Pawnee Terminal offers connection into Pony Express Pipeline to Cushing Arc Logistics (ticker: ARCX) announced today the $76.6 million acquisition of all the limited liability company interest of UET Midstream from United Energy Trading and Hawkeye Midstream. The consideration for the acquisition was made up of approximately $4.3 million in cash and approximately $32.3 million common units (approximately 1.746 million
Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN): TOTAL COMPANY PRODUCTION Samson’s net monthly production, for the last six months, is as follows; January February March April May June OIL, BO 15,221 22,590 26,893 29,821 31,385 27,089 GAS, MCF 15,384 21,694 26,555 19,064 18,309 19,808 BOE 17,785 26,206 31,408 32,998 34,437 30,391 BOEPD 574 845 1,013 1,064 1,111
PetroQuest Energy, Inc. (PQ) announced today that its Thunder Bayou discovery well (NRI – 37%) in Vermilion Parish, LA is currently producing at a gross daily rate of approximately 28,000 Mcf of gas, 900 Bbls of oil and 1,200 Bbls of natural gas liquids. The 41 MMcfe/d gross production rate is above the Company’s previously stated expected rate of 38
Combined Companies will Create Fourth Largest MLP MPLX LP (ticker: MPLX), the master limited partnership (MLP) vehicle of Marathon Petroleum (ticker: MPC), has announced the oil and gas industry’s third-largest acquisition to date in 2015. According to news releases from the three companies involved, MPC and MPLX have signed a definitive agreement to acquire MarkWest Energy Partners LP (ticker: MWE)
