WPX Energy (WPX) has added more hedges to protect cash flows and repurchased a portion of notes that are due in early 2017. Approximately three-fourths of WPX’s 2016 anticipated oil volumes are hedged well above current prices. The company now has 29,380 barrels of oil per day hedged at $60.85 per barrel in 2016. This includes another 2,000 bbl/d added
SM Energy Company (SM) announces today certain year-end 2015 results with highlights that include: 64.2 MMBoe full year production, at the high end of guidance range and up 21% year-over-year adjusted for Mid-Continent natural gas assets sold 14.9 MMBoe fourth quarter production; oil component increased sequentially to 29% Better positioned for 2017 with sizable increase in natural gas hedges at
As envisaged in the circular and prospectus published by Shell on 22 December 2015 relating to its recommended combination with BG Group plc, Royal Dutch Shell plc (“Shell“) (RDS-A)(RDS-B) today updates on its expected fourth quarter and full year 2015 results ahead of the Shell General Meeting on 27 January 2016. Fourth quarter 2015 and full year 2015 figures are expected
CARBO Ceramics Inc. (CRR) announced today that its Board of Directors has decided to suspend the payment of a dividend. The Board of Directors will continue to evaluate the dividend on an ongoing basis. Gary Kolstad, President and CEO of CARBO, said “The decision by the Board of Directors to suspend the dividend was not an easy one given the
Transcontinental Gas Pipe Line Company, LLC (“Transco”), a wholly owned subsidiary of Williams Partners L.P. (WPZ), announced that it has priced its previously announced offering of senior notes. The $1 billion in aggregate principal amount of senior notes due 2026, scheduled to be delivered on January 22, 2016, were priced with a 7.85 percent coupon and at an offering price
Laredo Petroleum, Inc. (LPI) (“Laredo” or “the Company”) today announced that Jay P. Still has resigned as President, Chief Operating Officer and member of the Board of Directors to pursue other interests, effective January 28, 2016. The Board of Directors has determined that his duties will be assumed by Chairman and Chief Executive Officer, Randy A. Foutch. “I would like
Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (TOO), has declared a cash distribution of $0.11 per unit for the quarter ended December 31, 2015, down from $0.56 per unit paid in the prior quarter and consistent with the Partnership’s previously announced plan to temporarily reduce its quarterly cash distribution. The
TransCanada Corporation (TRP) (TRP) (TransCanada) today announced its Coastal GasLink Pipeline Project has signed long-term project agreements with Nadleh Whut’en First Nation and West Moberly First Nations. Coastal GasLink has now secured 11 project agreements and continues to make good progress toward concluding agreements with other First Nations along the pipeline route. These agreements outline benefits and commitments that will
From the Wall Street Journal The San Francisco-based bank surpassed Citigroup Inc. to become the third-largest U.S. bank by assets at the end of 2015, according to year-end figures released by the banks Friday. Wells Fargo’s total assets grew by 6% to $1.79 trillion in the fourth quarter from $1.66 trillion a year earlier. Meanwhile, Citigroup reported total assets shrunk by 6%
*Figures in Canadian dollars unless stated otherwise* Husky Energy (ticker: HSE), one of Canada’s largest integrated energy companies, amended its 2016 guidance just six weeks after its initial release. The first line of the statement says, “Husky Energy is taking additional steps to improve its resilience through the extended low commodity price environment.” The additional step consists of a revised
2015 Net Income Guidance Increased Five-year Financial and Dividend Growth Rates Updated ONE Gas, Inc. (OGS) today announced that its 2016 net income is expected to be in the range of $127 million to $137 million, or approximately $2.40 to $2.60 per diluted share. The midpoint for ONE Gas’ 2016 net income guidance is $132 million, or $2.50 per diluted
The IEA sees continued pressure on oil potentially pushing prices down further In its first Oil Market Report of the year, the International Energy Agency painted a pessimistic picture for the outlook of oil prices. Even as the IEA expects 600 MBOPD of non-OPEC production to fall off during the year, “this will inevitably be largely offset by higher production
