Mexico hopes to join the IEA as it continues reforming the oil and gas sector Mexican Secretary of Energy Pedro Joaquin Coldwell today presented International Energy Agency (IEA) Executive Director Fatih Birol with an official letter declaring Mexico’s interest in becoming an IEA member. The declaration of interest is the latest step in Mexico’s ongoing process of reforming its oil
From the Chicago Tribune American Airlines, the world’s largest carrier, said Tuesday that it is fundamentally changing how it awards frequent flier miles, joining other major U.S. airlines by rewarding dollars spent instead of miles flown. The change, also made by Chicago-based United Airlines earlier this year, benefits big-spending corporate travelers, who are more profitable for the airline, and hurts
Latest dropdown brings total transactions to $5.7 billion in just over a year Energy Transfer Partners (ticker: ETP) announced the dropdown of its remaining retail business to Sunoco LP (ticker: SUN) for total consideration of $2.226 billion. Energy Transfer Partners’ dropdown consisted of its remaining 68.42% interest in Sunoco, as well as its 100% interest in the legacy Sunoco retail
THE WOODLANDS, Texas, Nov. 16, 2015 /PRNewswire/ — Summit Midstream Partners, LP (NYSE: SMLP) announced today that Leonard Mallett has been named Executive Vice President and Chief Operations Officer of Summit Midstream Partners, LLC, and Summit Midstream GP, LLC (the “general partner”), which manages and operates SMLP. This appointment is effective December 1, 2015. Mallett will have strategic oversight and primary
U.S. DEPARTMENT OF THE INTERIOR BUREAU OF LAND MANAGEMENT NEWS RELEASE BLM Utah State Office Release Date: 11/16/15 Contacts: Megan Crandall (801)539-4020 BLM Postpones November 2015 Lease Sale Salt Lake City— The BLM-Utah competitive oil and gas lease sale scheduled for Nov. 17, 2015, has been postponed to allow the time needed to better accommodate the high level of public
A celebration of Jim Wallace’s life is scheduled for November 17 at Cherry Hills Country Club in Denver, from 4:00 p.m. – 6:00 p.m. Jim Wallace, long-time oil man, staunch supporter of local causes, active volunteer, philanthropist and highly respected Colorado businessman died on Nov. 5, 2015. Oil & Gas 360® put together impressions of Jim Wallace from two of
PBF Energy Inc. (PBF) today announced that its indirect subsidiary, PBF Holding Company LLC (“PBF Holding”), intends to offer, subject to market and other conditions, $500 million in aggregate principal amount of senior secured notes due 2023 in a private offering. The Notes will be co-issued by PBF Finance Corporation, a wholly owned subsidiary of PBF Holding. PBF Holding intends
Midstates Petroleum Company, Inc. (MPO) (the “Company”) announced today that it has extended the primary expiration date for its previously announced exchange offer relating to its outstanding 10% Senior Secured Second Lien Notes due 2020. The exchange offer, previously scheduled to expire at 5:00 p.m., New York City time, on November 16, 2015, has been extended until 5:00 p.m., New
Lightstream Resources Ltd. (the “Company” or “Lightstream”) (TSX:LTS) announces the results of the semi-annual borrowing base re-determination of our secured termed credit facility (“Credit Facility”), resulting in approximately $200 million in available liquidity based on September 30, 2015 debt balances. Effective November 13, 2015, the borrowing base of our Credit Facility has been reduced to $550 million from $750 million.
Parties spoke today at the COGCC rulemaking hearing in Denver, Colorado A crowded room listened intently today as several parties shared their concerns with the Colorado Oil and Gas Conservation Commission (COGCC) over new rules being put in place after study and recommendation by the Colorado Oil and Gas Task Force. In September 2014, Colorado Governor Hickenlooper created the task
The U.S. and India will drive oil demand growth in the future – Raymond James China’s economy has been a demand-growth powerhouse over the course of the last decade as the country’s industrial sector boomed, but China’s role in global demand growth will be on the decline moving forward, according to research from Raymond James. Stepping up to take China’s
Transaction now completes $5.7 billion of retail business dropdowns from ETP to SUN in just over a year Implied transaction multiple for this final remaining dropdown is approximately 8.5x 2015 EBITDA Transaction is immediately accretive to distributable cash flow and distributions for SUN Including working capital, ETP expects to receive approximately $2.2 billion in cash proceeds to fund part of
