Energy News

Toyota, Kia plants in Mexico to fuel demand for Eagle Ford natural gas

Story by San Antonio Business Journal

Two new automotive plants being built south of the border are being regarded as good news for natural gas producers in the Eagle Ford shale.

A Toyota-to-build-new-plants-in-China-Mexico”>report from the Nikkei Asian Review revealed …

April 6, 2015 - 7:09 pm Energy News

Matador Resources Company Provides Operational Update

Matador Resources Company (MTDR) (“Matador” or the “Company”), an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources, with an emphasis on oil and natural gas shale and other unconventional …

April 6, 2015 - 10:49 am Energy News
Callon Petroleum Company Announces Reaffirmation of Borrowing Base

Callon Petroleum Company Announces Reaffirmation of Borrowing Base

Callon Petroleum Company (CPE) today announced that the borrowing base under its senior secured revolving credit facility remained unchanged at $250 million following its lenders’ regularly scheduled semi-annual redetermination process. There were no other changes to the terms …

April 6, 2015 - 10:13 am Analytics, Energy News

Miller Energy Announces New Chief Financial Officer

Miller Energy Resources, Inc. (MILL) (“Miller Energy” or “the Company”) announced that its board has appointed Phillip G. Elliott as Chief Financial Officer.

“We are excited that Phil has joined Miller Energy as its new CFO,” stated Carl …

April 6, 2015 - 10:12 am Energy News

Sanchez Energy Releases Updated Presentation Regarding Sale of Non-Core Producing Assets to Sanchez Production Partners

Sanchez Energy Corporation (NYSE: SN or the “Company”) today announced that the Company has released an investor presentation with respect to its previously announced sale of non-core producing assets to Sanchez Production Partners.  A copy of the presentation, which has …

April 6, 2015 - 10:10 am Energy News

TransCanada Alters Québec Scope of Energy East Pipeline Project

TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced it is altering the scope of the Energy East pipeline project in Québec as part of its continued commitment to stakeholder consultation, environmental stewardship and community safety. Part of that altered scope includes …

April 2, 2015 - 7:01 pm Energy News

Alberta Budget Keeps Oil and Gas Industry Competitive in Challenging Global Market

Source: Canadian Association of Petroleum Producers

The Alberta government’s 2015/16 budget will help keep the province’s oil and gas industry competitive in a turbulent global market, supporting jobs and investment at a challenging time, the Canadian Association of Petroleum Producers …

April 2, 2015 - 6:53 pm Energy News

New Rules Proposed for Brazil’s State Companies

Story by The Wall Street Journal

Brazil’s stock exchange operator is proposing, with the support of the market regulator, a series of recommendations to improve corporate governance at state-run companies amid a corruption scandal at oil company Petroleo Brasileiro SA.…

April 2, 2015 - 6:23 pm Energy News

Oceaneering Acquires C & C Technologies, Inc.

Oceaneering International, Inc. (OII) announced that it has closed the previously announced definitive agreement to acquire C & C Technologies, Inc., a global provider of survey and satellite-based positioning services.

Subject to customary post-closing working capital adjustments, the …

April 2, 2015 - 6:22 pm Energy News

Hercules Offshore Announces Five Year Drilling Contract, Patterson-UTI Provides Monthly Update

Hercules Offshore Announces Five Year Contract for Hercules 260

Hercules Offshore (NASDAQ: HERO) announced that it has signed a five-year contract with a subsidiary of Eni S.p.A. for use of the Hercules 260 in West Africa. The dayrate under the …

April 2, 2015 - 6:21 pm Energy News
Strategic Oil & Gas Ltd. Announces Year-End 2014 Financial and Operating Results

Strategic Oil & Gas Ltd. Announces Year-End 2014 Financial and Operating Results

Strategic Oil & Gas Ltd. (“Strategic” or the “Company”) (TSX VENTURE:SOG) reports financial and operating results for the three months and year ended December 31, 2014. Detailed results are presented in Strategic’s annual consolidated financial statements, related Management’s Discussion and …

April 2, 2015 - 6:10 pm Analytics, Energy News

FASB Proposes Delay of the New Revenue Recognition Standard

Source: Hein & Associates

The Financial Accounting Standards Board (FASB) voted on Wednesday to propose an amendment to delay the effective date of the new rules on revenue recognition for one year.

The FASB will issue a draft with the …

April 2, 2015 - 3:09 pm Energy News

Andrew Getty, grandson of J. Paul Getty, dies at 47

Story by CNN

Andrew Getty, the 47-year-old grandson of J. Paul Getty, died Tuesday afternoon in his home in Los Angeles, according to a statement from his mother and father.

Ann and Gordon Getty also “requested that members of the …

April 1, 2015 - 5:47 pm Energy News

Oasis mulls partner or MLP for North Dakota gas plant

Story by Reuters

Oasis Petroleum Inc may take on joint venture partners or create a master limited partnership (MLP) for a $200 million North Dakota gas processing plant, President Taylor Reid said on Wednesday.

The plant, which would process gas …

April 1, 2015 - 5:16 pm Energy News

German government approves controversial fracking bill

Story by Reuters

German cabinet has decided to allow shale gas fracking in Germany, but only under strict regulation and for testing purposes. Even so, lawmakers criticized the proposed bill for not being strict enough.

According to the government proposal,

April 1, 2015 - 5:03 pm Energy News

Tesco Corporation Reports Fourth Quarter 2014 Results

Tesco Corporation (TESO) (“TESCO” or the “Company”) today reported a net loss of $2.1 million, or $(0.05) per diluted share, for the fourth quarter ended December 31, 2014. Adjusted net income for the quarter was $4.8 million, or …

April 1, 2015 - 11:09 am Energy News

Petrobras Signs $3.5 Billion Accord With China Development Bank

Story by Bloomberg

Petroleo Brasileiro SA, the world’s most indebted oil producer, is turning to China for funding as a corruption scandal keeps it out of international bond markets.

Petrobras, as Brazil’s state-run driller is known, signed a contract with …

April 1, 2015 - 10:56 am Energy News

Encana Completes Sale of Montney Midstream Assets

Encana Corporation (“Encana”) and the Cutbank Ridge Partnership (“CRP”), a partnership between Encana and a subsidiary of Mitsubishi Corporation, have completed the previously announced sale of certain natural gas gathering and compression assets supporting development in the Montney area of …

April 1, 2015 - 10:54 am Energy News
Sanchez Production Partners Acquires Eagle Ford Shale Assets from Sanchez Energy Corp.; Raises Preferred Equity and Refinances Credit Facility

Sanchez Production Partners Acquires Eagle Ford Shale Assets from Sanchez Energy Corp.; Raises Preferred Equity and Refinances Credit Facility

Sanchez Production Partners LP (NYSE MKT: SPP) today announced that it has executed and closed an agreement with Sanchez Energy Corp. (NYSE: SN) (“Sanchez Energy”) to acquire wellbore interests in certain producing oil and natural gas wells in the Eagle …

April 1, 2015 - 10:29 am Analytics, Energy News

Sanchez Energy Announces New Approved Borrowing Base Under Its Revolving Credit Facility

Sanchez Energy Corporation (SN) (“Sanchez Energy” or the “Company”) announced today that it has received commitments from its lending group to change the borrowing base under its $1.5 billion first lien revolving credit facility from $650 million to …

April 1, 2015 - 10:28 am Energy News

BP terminates Gulf of Mexico rig contracts as low oil prices bite

Source: Economic Times

BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices.

Offshore drilling company Ensco said it had received notice …

March 31, 2015 - 6:48 pm Energy News

Petrobras Kicks off $13.7 billion Divestment Plan with Sale of Argentina Assets

Source: Petrobras

Petrobras announces that the Board of Directors of Petrobras Argentina (PESA) has approved to dispose of all of its assets located in the Austral Basin, in the Santa Cruz province, for US$ 101 million to Compañia General de

March 31, 2015 - 6:46 pm Energy News

Kosmos Energy Announces Redetermination of Borrowing Base

Kosmos Energy Ltd. (“Kosmos”) (KOS) announced today that the borrowing base under its reserves-based lending facility has remained unchanged at $1.5 billion following its lenders’ semi-annual redetermination process. For the first time, the borrowing base calculation includes value …

March 31, 2015 - 6:41 pm Energy News

Sanchez Energy Announces Sale of Non-Core Producing Assets to Sanchez Production Partners

Sanchez Energy Corporation (NYSE: SN or the “Company”) today announced that it has executed and closed an agreement with Sanchez Production Partners LP (NYSE MKT: SPP) to sell wellbore and certain associated interests in certain producing oil and gas wells …

March 31, 2015 - 6:37 pm Energy News

ZaZa Energy Reports 2014 Year-End Financial and Operational Results

ZaZa Energy Corporation (the “Company” or “ZaZa”) (ZAZA) today announced results for the year ended December 31, 2014.

2014 Financial Highlights

  • Total production of 231.6 Mboe as compared to 131.3 Mboe in 2013, a 76.7% increase.
  • Proved reserves
March 31, 2015 - 6:35 pm Energy News

Pacific Energy Development Announces Year-End 2014 Results With Significant Increase in Revenues, Production and Reserves

PEDEVCO Corp. d/b/a Pacific Energy Development (NYSE MKT: PED) (the “Company”) reported year-end results today with significant increases in revenues, production and reserves.

Year-End 2014 Results Compared to Year-End 2013 Results:

  • Revenue increased over 3x to $5.1 million in
March 31, 2015 - 6:33 pm Energy News

Acorn Energy Announces Fiscal Year 2014 Results

Acorn Energy, Inc. (ACFN), an energy technology holding company, today announced its results for the fiscal year ended December 31, 2014.

For 2014, revenues from continuing operations were $19.6 million compared to $20.3 million in 2013.  The net …

March 31, 2015 - 6:32 pm Energy News

Rex Energy Announces Joint Venture Agreement in Butler Operated Area, Re-Determined Borrowing Base and Amendment to Credit Facility

  • Joint venture agreement in Moraine East Area and Legacy Butler Operated Area
  • Operating capital expenditures reduced by ~30%
  • New senior secured leverage covenant of 3.0x with total leverage covenant removed

STATE COLLEGE, Pa., March 31, 2015 (GLOBE NEWSWIRE) — Rex …

March 31, 2015 - 10:30 am Energy News

Evolution Petroleum Provides Operations Update

Evolution Petroleum Corporation (NYSE MKT: EPM) today provided an update on operations and litigation.

Operations

As previously projected, the operator of the Delhi Field has decreased CO2 purchases to a February rate of approximately 101 million cubic feet per

March 31, 2015 - 10:21 am Energy News

CAMAC Energy Concludes Oyo-8 Completion Operations

CAMAC Energy Inc. (“CAMAC” or “the Company”) (NYSE MKT:CAK) announced today it has finished completion operations on the Oyo-8 well, located offshore Nigeria, and is now ready to commence oil production.

Oyo-8 is hooked up to the FPSO Armada Perdana

March 31, 2015 - 10:18 am Energy News