Energy News

Case for U.S. Oil Exports Seen Strengthened by EIA Study

BLOOMBERG – The U.S. Energy Department said the nation’s gasoline prices are linked to international crude oil, a conclusion that backs those in favor of lifting 39-year-old restrictions on crude exports.

The analysis by the Energy Information Administration, the department’s …

October 30, 2014 - 6:00 pm Energy News
Enterprise Reports Results for Third Quarter 2014

Enterprise Reports Results for Third Quarter 2014

Enterprise Products Partners L.P. (“Enterprise”) (EPD) today announced its financial results for the three and nine months ended September 30, 2014. In August 2014, Enterprise completed a two-for-one split of its common units. All earnings per unit and …

October 30, 2014 - 11:05 am Energy News, MLPs

ConocoPhillips Reports Third-Quarter 2014 Results; Delivering Production and Margin Growth

ConocoPhillips (COP) today reported third-quarter 2014 earnings of $2.7 billion, or $2.17 per share, compared with third-quarter 2013 earnings of $2.5 billion, or $2.00 per share. Excluding special items, third-quarter 2014 adjusted earnings were $1.6 billion, or $1.29 …

October 30, 2014 - 11:01 am Energy News

American Eagle Energy Announces Operations Update

American Eagle Energy Corporation (NYSE MKT: AMZG) (“American Eagle” or the “Company”) announces an operations update and production guidance for the Company’s operated well development in its Spyglass Project area in northwestern Divide County, North Dakota, and details for the …

October 30, 2014 - 10:42 am Energy News

43 Groups to Intervene in South Dakota Re-Approval

ASSOCIATED PRESS – Utility regulators approved 43 applications Tuesday from individuals and groups that want to have a say in South Dakota’s decision on whether to re-approve part of the Keystone XL pipeline that would run through the state if …

October 29, 2014 - 7:26 pm Energy News

Superior Energy Services Announces Third Quarter 2014 Results

Superior Energy Services, Inc. (SPN) today announced net income from continuing operations of $85.7 million, or $0.55 per diluted share, and net income of $79.9 million, or $0.51 per diluted share, on revenue of $1,209.0 million for the …

October 29, 2014 - 6:18 pm Energy News

Oceaneering Reports Record Quarterly Earnings

Oceaneering International, Inc. (OII) today reported record earnings for the third quarter ended September 30, 2014.  On revenue of $973.1 million, Oceaneering generated net income of $124.3 million, or $1.16 per share.

For the third quarter of 2013, …

October 29, 2014 - 6:15 pm Energy News

Noble Corporation plc Reports Third Quarter 2014 Results

Noble Corporation plc (NE) today reported third quarter 2014 net income from continuing operations of $147 million, or $0.57 per diluted share, compared to $140 million, or $0.54 per diluted share, for the second quarter of 2014. For …

October 29, 2014 - 6:13 pm Energy News

Williams Reports Third-Quarter 2014 Financial Results

Williams (WMB) today announced third-quarter 2014 cash distributions from Williams Partners and Access Midstream Partners of $521 million, a $189 million, or 57 percent, increase from total cash distributions received for third-quarter 2013. The quarterly cash distributions discussed …

October 29, 2014 - 6:11 pm Energy News

BP Says Can Cope With Oil at $80 Because Has Right Portfolio

BLOOMBERG – BP Plc (BP/) has the right investments to allow it to cope with oil prices that have tumbled to $80 a barrel, according to Chief Executive Officer Bob Dudley.

“We’ve positioned the company to weather any shocks,” the …

October 29, 2014 - 6:09 pm Energy News

Range Announces Third Quarter 2014 Results

RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its third quarter 2014 financial results.

Third Quarter Highlights –

  • Range produced a record average of 1,209 Mmcfe per day, an increase of 26% over the prior year quarter
  • Unit costs decreased $0.36
October 29, 2014 - 5:57 pm Energy News

Whiting Petroleum Corporation Announces Third Quarter 2014 Financial and Operating Results

Whiting Petroleum Corporation’s (WLL) production in the third quarter of 2014 totaled a record 10.7 million barrels of oil equivalent (MMBOE), of which 88% was crude oil and natural gas liquids (NGLs). The production total equates to an …

October 29, 2014 - 5:53 pm Energy News

Penn Virginia Corporation Announces Third Quarter 2014 Results

Penn Virginia Corporation (PVA) today reported financial results for the three months ended September 30, 2014 and provided updates of its operations and 2014 guidance.

Key Third Quarter Highlights

Production

  • Total production increased 4% to 22,706 barrels of
October 29, 2014 - 5:51 pm Energy News

McClendon’s American Energy Partners Provides Financial and Operational Update

American Energy – Permian Basin, LLC (AEPB), an affiliate of American Energy Partners, LP (AELP), today announced that since July 31, 2014 it has completed or entered into definitive agreements with multiple parties to acquire net production of approximately 1,400 …

October 29, 2014 - 11:42 am Energy News

Phillips 66 Reports Third-Quarter Earnings of $1.2 Billion or $2.09 Per Share

Phillips 66 (PSX), an energy manufacturing and logistics company, announces third-quarter earnings of $1.2 billion, compared with earnings of $863 million during the second quarter of 2014. Adjusted earnings were $1.1 billion, an increase of $277 million from …

October 29, 2014 - 11:37 am Energy News

Miller Energy Resources Announces Management Changes and Provides Updates on Its Operations, Strategic Processes and Financial Position

Miller Energy Resources, Inc. (NYSE: MILL) (“Miller” or “the Company”) announces management changes and, prior to its Annual General Meeting, provides updates on its operations, strategic processes and financial positon.

Management Changes

John M. Brawley, the Company’s Chief Financial Officer, …

October 29, 2014 - 11:28 am Energy News

Hess Reports Estimated Results for the Third Quarter of 2014

Hess Corporation (HES) today reported net income of $1,008 million for the quarter ended September 30, 2014. Adjusted net income, which excludes items affecting comparability, was $377 million or $1.24 per common share, compared with $405 million or …

October 29, 2014 - 11:21 am Energy News

OPEC Plots US Shale Oil Takedown

INTERNATIONAL BUSINESS TIMES – Opec is likely to let the price of oil slide further as it gambles that US shale oil producers will be forced to slow production first.

The oil cartel, which includes a number of Persian Gulf …

October 28, 2014 - 6:11 pm Energy News

Bill Klesse to Step Down as Valero Chairman December 30, 2014; CEO Joe Gorder to Assume Chairman Position

Valero Energy Corporation (VLO) announced today that Bill Klesse, 68, has chosen to step down as Chairman of the Board effective December 30, 2014.  Joe Gorder, 57, Chief Executive Officer and President, has been elected by the Board …

October 28, 2014 - 5:59 pm Energy News

SM Energy Reports Results for the Third Quarter of 2014; Provides Operations Update

SM Energy Company (SM) announces its financial results for the third quarter of 2014 and provides an operations update. In addition, a new presentation concerning the Company’s third quarter earnings and operations update will be posted on the …

October 28, 2014 - 5:58 pm Energy News

Newfield Exploration Reports Third Quarter 2014 Results

Newfield Exploration Company (NFX) today reported its unaudited third quarter 2014 financial results and provided an update on its operations. Recent operational highlights are detailed in the Company’s @NFX publication, located on its website. Newfield will host a …

October 28, 2014 - 5:56 pm Energy News

Anadarko Announces Third-Quarter 2014 Results

Anadarko Petroleum Corporation (NYSE: APC) today announced third-quarter 2014 net income attributable to common stockholders of $1.087 billion, or $2.12 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, these …

October 28, 2014 - 5:53 pm Energy News

Western Gas Announces Agreement to Acquire Nuevo Midstream, LLC for $1.5 billion and Releases Third-Quarter 2014 Results

Western Gas Partners, LP (NYSE: WES) (“WES” or the “Partnership”) today announced that it has agreed to acquire Nuevo Midstream, LLC (“Nuevo”), a leading Delaware Basin gas gatherer and processor, for $1.5 billion. The Partnership expects the acquisition will close …

October 28, 2014 - 5:48 pm Energy News

Noble Energy Announces Third Quarter 2014 Results

Noble Energy, Inc. (NYSE:NBL) announced today third quarter 2014 net income of $419 million, or $1.12 per diluted share.  Excluding the impact of certain items, which would typically not be considered by analysts in published earnings estimates, third quarter 2014 …

October 28, 2014 - 11:35 am Energy News

BP Reports Third Quarter 2014 Results

BP today reported its financial results for the third quarter of 2014. Underlying replacement cost profit1 for the quarter was $3.0 billion, compared with $3.7 billion for the same period in 2013. Operating cash flow for the quarter was …

October 28, 2014 - 11:32 am Energy News

Synergy Resources Reports Fiscal Fourth Quarter and Year End 2014 Results

Full Year Revenues up 125% to Record $104 Million, Driving Operating Income up 122% to $43.5 Million and Net Income per Diluted Share up 131% to $0.37; Company to Host Investor Conference Call Today, October 28th, at 12:00 Noon ET

October 28, 2014 - 11:24 am Earnings, Energy News

Goldman slashes 2015 oil price forecast to $75 as glut grows

REUTERS – Goldman Sachs has slashed its 2015 oil price forecasts, making it the most bearish among major financial institutions, adding pressure on Monday to crude futures that have already tanked near 25 percent over the past five months.

The …

October 27, 2014 - 6:05 pm Energy News

ONEOK Partners Announces Acquisition of Natural Gas Liquids Assets in the Permian Basin of West Texas and Southeastern New Mexico

ONEOK Partners, L.P. (OKS) today announced it has agreed to acquire natural gas liquids (NGL) pipelines and related assets from affiliates of Chevron Corporation for approximately $800 million, subject to customary post-closing adjustments.

The transaction includes an 80 …

October 27, 2014 - 5:56 pm Energy News
Southwestern Energy Announces Third Quarter 2014 Financial And Operating Results

Southwestern Energy Announces Third Quarter 2014 Financial And Operating Results

Southwestern Energy Company (SWN) today announced its financial and operating results for the quarter and nine months ended September 30, 2014. Third quarter highlights include:

  • Record gas and oil production of 196 Bcfe, up 14% compared to year-ago
October 23, 2014 - 5:50 pm Energy News

Continental Resources Completes Four New Springer Oil Wells In Oklahoma’s SCOOP Play

Continental Resources, Inc. (“Continental” or the “Company”) (CLR) today announced continued success in its recently unveiled Springer play in the South Central Oklahoma Oil Province (SCOOP).

“Four new wells further confirm the repeatability and growth potential of Continental’s …

October 23, 2014 - 1:24 pm Energy News