Closing Bell Story‎ Archives - Page 1821 of 1832 -

In 2014 U.S. Crude Reserves Exceed 39 Billion Barrels for the First Time in 42 Years

November 24, 2015

Extensions of existing fields continues to push reserves higher The Energy Information Administration (EIA) announced today that 2014 was the fourth-highest year on record for crude oil reserves as the United States added 3.4 billion barrels of crude oil and lease condensate to its proved reserves. U.S. total crude oil and lease condensate reserves at year-end 2014 now stand at

Whiting Petroleum Corporation Announces Redemption of 8.125% Senior Notes Due 2019

November 24, 2015

Whiting Petroleum Corporation (WLL) today announced it elected to redeem all of the outstanding $798 million aggregate principal amount of 8.125% Senior Notes Due 2019 of Kodiak Oil & Gas Corp. (now known as Whiting Canadian Holding Company ULC) on December 24, 2015. The redemption price will equal 104.063% of the aggregate principal amount of the notes, plus accrued and

Resolute Energy Enhances Balance Sheet with $177.5 Million Non-core Asset Sale

November 23, 2015

2015 Asset Sales to Date Reach $275 Million Resolute Energy (ticker: REN) has agreed to sell its Gardendale assets for $177.5 million, concluding a “limited marketing process” that began in late September. The buyer was not named. The company has now sold nearly $275 million in assets since March 2015, including the divestures of its Midland Basin and Powder River

Oil & Gas 360 - ConocoPhillips ups drilling program in Eagle Ford - Oil & Gas 360

OPEC a Year Later: Who Will Adapt and Survive?

November 23, 2015

A shot heard round the world Last November 27, OPEC sparked the decline in crude oil prices that would see both international benchmark Brent crude, and U.S. benchmark WTI crude, lose more than 50% of their value. The group decided to move away from its traditional role of maintaining a reasonable crude oil price in order to protect its market

Fossil Fuel v. Renewable Energy: Did Green Slip through the Door while North American Oil & Gas Companies were Busy Creating the Shale Boom?

November 23, 2015

Cultural Attitudes: 55 Years can make a World of Difference. So can 12. Remember the iconic 1960-era engineer? He wore a pocket protector in the shirt pocket of his short-sleeved white dress shirt. He usually had two or three ballpoint pens sticking up next to a small slide rule—he was the symbol of a culture that respected and emphasized things

Tesoro to acquire Flint Hills Resources’ marketing and logistics assets in Alaska

November 23, 2015

Tesoro Corporation (TSO), through its affiliate Tesoro Alaska Company LLC, has agreed to acquire Flint Hills Resources` (FHR) wholesale marketing and logistics assets in Anchorage and Fairbanks, Alaska. “This investment represents our commitment to efficiently and reliably serve customers in the state of Alaska,” said Greg Goff, Chairman, President and Chief Executive Officer of Tesoro Corporation. “We have been a

Petrobras Announces End of Oil Workers’ Strike

November 23, 2015

Petróleo Brasileiro S.A. – Petrobras informs that most unions have approved the end of the strike. The Company’s production is resuming normal levels. During the strike, production losses totaled 2.29 million barrels of oil and 48.4 million cubic meters of natural gas. Despite the impact on volume, Petrobras has confirmed it will maintain its 2015 production target of 2.125 million

Atlas Resource Partners Announces Amendment To Credit Facility And Borrowing Base Redetermination

November 23, 2015

Atlas Resource Partners, L.P. (ARP) (“ARP” or “the Partnership”) announced today that it has entered into an amendment to its revolving credit facility and has completed its semi-annual redetermination of its credit facility borrowing base, resulting in a revised borrowing base of $700 million, a decrease of approximately 6.7% from the previous level. In order to provide increased flexibility as a

West Virginia’s Coal Industry is Reeling – Will Shale Gas Take Its Place?

November 20, 2015

An Exclusive Interview with Keith Burdette, Secretary of Commerce for West Virginia Coal has powered West Virginia’s economy for centuries. Generations of West Virginians have come and gone in the Mountain State, and its stalwart blue-collar coal industry continuously attracts the next wave of young people in search of a career in the rolling hills of Appalachia. But the latest generation

Waning Coal Demand in Asia Pushes Global Trade Down for the First Time in 21 Years

November 20, 2015

Coal loses support as demand in China falters The global coal trade declined for the first time in 21 years in 2014, and likely contracted further this year as well, according to information from the Energy Information Administration (EIA). The global coal trade grew rapidly from 2008 to 2013 as demand in Asia picked up to support expanding economies in

Noble Postpones IPO of Midstream MLP

November 20, 2015

Noble Energy sites weak markets Houston-based Noble Energy (ticker: NBL) announced today that it will postpone an IPO of its wholly owned subsidiary Noble Midstream Partners, which the company planned to list on the New York Stock Exchange with the ticker NBLX. According to Noble, the company made the decision “as a result of unfavorable equity market conditions.” Noble said

Business Roundtable: “Strategic Changes” Needed for U.S. Energy Policy, Economy

November 20, 2015

Technological advances in the oil and gas industry have reformed the United States economy, but government policies are preventing the business sector from reaching its full potential. That is the assessment of the Business Roundtable, based on a 31-page report released on November 17, 2015. “Powering Forward; North America’s Energy Resurgence” began by detailing the tremendous leaps accomplished by the

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