Enterprise Products Partners L.P. (EPD) today announced that it has agreed to provide pipeline and marine terminal services to load its first export of crude oil produced in the United States under the law enacted earlier this month. The 600,000 barrel cargo of domestic light crude oil is scheduled to load at the Enterprise Hydrocarbon Terminal (EHT) on the Houston
Nighthawk, a US focused oil company (AIM: HAWK and OTCQX: NHEGY), announces an extension waiver on its Company’s Reserve Based Loan (“RBL”) renegotiation. Reserves Based Loan Covenant Compliance As previously announced on December 10, 2015, the Company received a waiver from the Commonwealth Bank of Australia, the Company’s RBL holder, covering certain non-compliance items. The waiver initially was until December
Northern Tier unitholders to receive $15 cash and 0.2986 of a Western Refining share in exchange for each Northern Tier common unit Allows Northern Tier unitholders to elect all cash or all stock consideration, subject to proration Merger results in diversified refining asset base with three top tier refineries that have direct pipeline access to advantaged crude oil basins Additional
hevron Corporation (CVX) today announced that its wholly-owned subsidiary, Chevron U.S.A. Inc., has signed a non-binding liquefied natural gas (LNG) supply Heads of Agreement (HOA) with China Huadian Green Energy Co., Ltd. When the agreement is finalized, China Huadian Green Energy is expected to receive up to 1 million metric tons per annum (MTPA) of LNG over 10 years starting
Black Ridge Oil & Gas, Inc. (the “Company” or “Black Ridge”) (ANFC) today provided an update on the Company to address the recent deterioration in oil prices. Since early November, West Texas Intermediate (WTI) oil prices for the 2016 calendar strip have dropped from nearly $52.00/barrel to recently trade below $40.00/barrel. A price drop of this magnitude would have a
GROUP 42-BLR GROUP SUPPORTS BOARD ACTIONS TO ENHANCE SHAREHOLDER VALUE; WITHDRAWS CONSENT SOLICITATION UNDER AGREEMENT, VAALCO TERMINATES STOCKHOLDER RIGHTS PLAN AND CANCELS PLANS FOR SPECIAL MEETING VAALCO Energy, Inc. (EGY) (“VAALCO” or “the Company”), today announced that it has entered into an agreement with Group 42, Inc., Bradley L. Radoff and certain other participants (collectively, the “Group 42-BLR Group”), which
Resolute Energy Corporation (“Resolute” or the “Company”) (NYSE: REN) announced today that it has closed the sale of its Gardendale assets in the Midland Basin of West Texas to a private party for a purchase price of $177.5 million. The transaction has an effective date of September 1, 2015. The net proceeds of the sale will be used to repay $95
Story by BizJournals. Clever employers were actively recruiting in October and November so they could make their job offers now, let their new hires give notice through the holidays, and start fresh in January. It’s a great strategy. But that new job opening at your company is so untimely because another employer used this clever seasonal timing against you. You
Story from Houston Chronicle/AP. South Dakota regulators a dismissed request Tuesday to throw out an application for the South Dakota portion of the Keystone XL pipeline, setting up a decision as early as next month from the Public Utilities Commission on whether to re-approve the embattled project. Pipeline opponents argued before the panel that President Barack Obama killed the project in November,
Does the term “bearish” even begin to describe commodity prices anymore? Oil prices are generating most of the headlines, but natural gas has it just as tough: spot prices for Henry Hub are trading at 16-year lows. The story remains the same, as the supply/demand imbalance remains tilted towards the former with headwinds applying additional downward pressure. The tightened margins
*This story was corrected from an earlier version to reflect Energy & Exploration Partners’ debt level Low oil prices push 41 energy companies into bankruptcy Saying that 2015 has been a difficult year for the oil and gas sector would be an understatement. U.S. crude oil benchmark WTI averaged $91.23 per barrel in 2014, while in 2015 it has, to date,
The Brent/WTI spread disappears Last Friday, Dec. 18, the United States Senate adopted the Omnibus Appropriations Act by a vote of 65-33 as did the House of Representatives by a 316-113 vote. Later that day, President Obama then signed into law the $1.1 trillion funding bill. Those actions brought an end to the 40 year old law that had banned exporting
