Warren Resources, Inc. (“Warren” or the “Company”) (WRES) today announced that, effective immediately, the Board of Directors has appointed James A. Watt as President and Chief Executive Officer of the Company. The Company expects that Mr. Watt will be named to the Board of Directors at the next meeting of the Board of Directors. Lance Peterson, who has served as
Nov 16 – From Reuters UK – Increased domestic energy production in coming years could allow Egypt to re-export Iraqi oil as part of a larger plan to become an energy export hub, Egypt’s petroleum minister Tarek El Molla told the state news agency on Monday. El Molla’s comments came a day after Egypt signed an agreement with Jordan and Iraq
The IEA’s monthly report places demand growth down from its five-year 2015 high The International Energy Agency (IEA) released its monthly report today, saying it expects global demand growth for oil to slow to 1.2 million barrels of oil per day in 2016. Demand growth in 2015 reached a five-year high of 1.8 MMBOPD, but momentum will ease towards its
Statoil Plays Largest Role, Locks Up Interests in Six Blocks Some of the industry’s largest players spent $1.2 billion in a Canada offshore lease sale on November 12, 2015, securing a foothold in an area estimated to hold as much as 12 billion barrels of oil and 113 trillion cubic feet of gas. Statoil (ticker: STO) was a consistent player
LINN Energy, LLC (LINE) (“LINN” or the “Company”) and LinnCo, LLC (LNCO) (“LinnCo”) announced today that LINN has entered into a series of privately negotiated transactions to exchange an aggregate principal amount of $2 billion of the Company’s senior unsecured notes (the “Unsecured Notes”) for an aggregate principal amount of $1 billion of newly issued senior secured second lien notes
Story by Bloomberg Canada plans to formally ban oil tanker traffic on the northern coast of British Columbia, adding another hurdle to Enbridge Inc.’s Northern Gateway pipeline proposal. Prime Minister Justin Trudeau has instructed Marc Garneau, the minister of transport responsible for the Coast Guard, to implement the ban which has informally been in place for years and was part
Lonestar Resources, Ltd. (ASX: LNR, OTCQX: LNREF) is pleased to announce that pursuant to the terms of the Company’s Senior Secured Credit Facility, which is redetermined semiannually, the Company’s Borrowing Base has been reaffirmed at $180 million. As of September 30th, 2015, the company had $79 millionoutstanding on the facility, leaving $101 million undrawn and available.
Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (GTE.TO) (GTE.TO) and Petroamerica Oil Corp. (“Petroamerica”) (TSX VENTURE:PTA), both international oil and gas companies operating in Colombia, are pleased to announce that they have entered into an arrangement agreement dated November 12, 2015 (the “Arrangement Agreement”) whereby Gran Tierra has agreed to acquire all of the issued and outstanding common
Overall rig count down again due to fewer rigs seeking gas Baker Hughes (ticker: BHI) released its weekly rig counts, indicating that the number of rigs drilling for oil in the United States increased for the first time in 10 weeks. While more rigs were drilling for oil in the U.S. than in previous weeks, the overall number of active
Flaring volumes remain steady as production rises; flaring less than 22% of NatGas may not happen anytime soon North Dakota has been working to lower the percentage of the natural gas flared inside the state, with a goal set to lower the percentage of flared natural gas to just 15% by the end of first-quarter 2016. Historically, North Dakota flared
From Bloomberg Concho Resources Inc., one of the top energy explorers in the oil-soaked Permian Basin beneath Texas and New Mexico, is seeking to buy Clayton Williams Energy Inc., people with knowledge of the matter said. Concho is bidding for Clayton Williams, said the people, who declined to be identified because the matter is not public. Clayton Williams has drawn
From Russia Beyond the Headlines The Russian government is shortly to start selling a new benchmark oil in rubles, priced in a similar range to the popular Brent sort. However, analysts doubt that it will be possible to achieve high sales volumes in a short period of time. In November 2015 Russia will begin selling a new benchmark oil class,
