Energy News

In North Dakota’s oil patch, a humbling comedown

From Reuters:

Dave Van Assche didn’t fret too much when oil prices started to slide in late 2014.

The postal services business he had built over three short years was thriving, catering to the tens of thousands of people who, …

May 18, 2016 - 2:12 pm Closing Bell Story‎, Energy News

Dallas Fed’s Kaplan sees ‘gradual recovery’ ahead for U.S. oil patch

From Reuters:

Dallas Federal Reserve Bank President Robert Kaplan said on Tuesday that while he expects more bankruptcies for oil and gas producers this year, he sees energy prices firming, along with prospects for jobs and investment.

“I wouldn’t be …

May 18, 2016 - 2:11 pm Closing Bell Story‎, Energy News

War chests swell for ballot fight over oil and gas

From The Denver Business Journal:

The money being raised for a fight over ballot issues aimed at oil and gas operations in Colorado continues to rise.

Reports filed Monday with Colorado Secretary of State Wayne Williams’ office detail financial activity …

May 18, 2016 - 2:09 pm Closing Bell Story‎, Energy News
Oil Continues Rally

Oil Continues Rally

WTI oil price continued its hot streak today finishing the day up 1.82% at $48.59 per barrel.  Uncontrolled forest fires in Canada have suppressed the supply of oil coming from that market, more than one million barrels have yet to …

Enbridge Reacts to Ontario’s Plan to Phase Out NatGas

Enbridge Reacts to Ontario’s Plan to Phase Out NatGas

The draft Climate Change Action Plan, as reported in the Globe and Mail today, proposes phasing out natural gas heating in homes and replacing it with electric heat. While Enbridge supports a lower-carbon future, we believe that phasing out of …

May 17, 2016 - 3:33 pm Canada, Closing Bell Story‎, Energy News

Resolute Energy Corporation Adopts Stockholder Rights Plan

DENVER, CO–(Marketwired – May 17, 2016) – Resolute Energy Corporation (“Resolute” or the “Company”) (NYSE: REN) today announced that its Board of Directors has adopted a stockholder rights agreement (the “Rights Agreement”) and declared a dividend distribution of one …

May 17, 2016 - 12:37 pm Closing Bell Story‎, Energy News
Plains All American Responds to Charges Filed

Plains All American Responds to Charges Filed

Plains All American Pipeline, L.P. (NYSE: PAA) and one of its employees were indicted by a California state grand jury for alleged violations of California law in connection with the May 19, 2015 accidental oil release near Santa Barbara. …

May 17, 2016 - 12:17 pm Closing Bell Story‎, Energy News

Talara Oil & Gas LLC Announces Name Change to PetroTal LLC, Appoints GMP Securities as Financial Advisor

HOUSTON, May 16, 2016 (GLOBE NEWSWIRE) — Talara Oil and Gas LLC announced today that the company has changed its name to PetroTal LLC, and appointed GMP Securities as its financial advisor.

“The company changed its name to more accurately …

May 17, 2016 - 11:17 am Closing Bell Story‎, Energy News
SandRidge Energy and Breitburn Energy Partners File for Chapter 11

SandRidge Energy and Breitburn Energy Partners File for Chapter 11

SandRidge Energy and Breitburn Energy Partners became the latest companies to succumb to the market forces and file for Chapter 11 bankruptcy protection on Monday.

SandRidge Energy

SandRidge reached an agreement with the majority of its lenders and bondholders to …

Oil Prices Up: WTI Pushing $48

Oil Prices Up: WTI Pushing $48

From Reuters

Oil prices hit six-month highs on Monday on worries about global supply outages and as long-time bear Goldman Sachs sounded more positive on the market, although a stockpile build at the U.S. storage hub for crude futures pared …

May 16, 2016 - 3:11 pm Closing Bell Story‎, Commodity Pricing, Energy News
Ontario’s $7 Billion Carbon Plan May Phase Out Natural Gas for Heating

Ontario’s $7 Billion Carbon Plan May Phase Out Natural Gas for Heating

From the Hamilton Spectator

TORONTO — Ontario’s Liberal government insists no final decisions have been made on its plan to tackle climate change, and won’t confirm a published report that says it will spend $7 billion over four years to …

May 16, 2016 - 1:09 pm Canada, Closing Bell Story‎, Energy News

Sanchez Production Partners Reports First Quarter 2016 Results

HOUSTON, TX–(Marketwired – May 16, 2016) – Sanchez Production Partners LP (NYSE MKT: SPP) (“SPP” or the “Partnership”) today reported first quarter 2016 results. Highlights from the report include:

  • A cash distribution to common unitholders of $0.4121 per
May 16, 2016 - 1:00 pm Closing Bell Story‎, Earnings, Energy News
Granite Oil Corp. Announces Credit Facility Update

Granite Oil Corp. Announces Credit Facility Update

CALGARY, ALBERTA–(Marketwired – May 16, 2016) – GRANITE OIL CORP. (“Granite“) (TSX:GXO)(OTCQX:GXOCF) announces that the annual borrowing base redetermination under its demand credit agreement has been completed and the borrowing base has been set at $60 million, consisting …

May 16, 2016 - 12:23 pm Borrowing Base, Canada, Closing Bell Story‎, Energy News

T. Boone Pickens Thinks Oil is Going Even Higher

From Yahoo Finance

Many traders are waiting for oil prices to crash again, as a rally triggered by the falling value of the U.S. dollar fizzles. They could be waiting a long time.

“You could be at 50 or 60 …

May 16, 2016 - 12:00 pm Closing Bell Story‎, Commodity Pricing, Energy News

Goldman Sachs Overtakes Chevron and ExxonMobil as Natural Gas Merchant

From the Financial Times

Goldman Sachs has quietly overtaken Chevron and ExxonMobil to become one of the biggest natural gas merchants in North America, expanding in physical commodities trading even as other banks pull back.

The Wall Street institution last …

May 16, 2016 - 11:44 am Closing Bell Story‎, Energy News

EPA Methane Rule Mirrors Colorado’s Regulations

From the Coloradoan

Colorado environmental advocates are hailing the Environmental Protection Agency’s just-finalized methane emissions rule even though the federal oil and gas industry regulations are unlikely to affect operators in the state.

That’s because the new EPA rule was …

May 13, 2016 - 11:38 am Closing Bell Story‎, Energy News

Vantage Drilling International Reports First Quarter Results for 2016

HOUSTON, TX–(Marketwired – May 13, 2016) – Vantage Drilling International (“Vantage” or the “Company”) reported a net loss of $471.0 million for the period from January 1, 2016 to February 10, 2016 for the Predecessor Company and a net loss

May 13, 2016 - 11:36 am Closing Bell Story‎, Earnings, Energy News

Quiet Reforms Reshaping China’s Oil and Gas Sector

From Reuters

BEIJING (Reuters) – Expect no radical “big bang” in China’s shake-up of its giant state-run energy firms, but a series of experimental and incremental steps that Beijing has quietly embarked on may still bring meaningful change to an …

May 12, 2016 - 1:19 pm Closing Bell Story‎, Energy News

Alaska Legislative Panel Releases Oil, Gas Tax Credit Rewrite

From the AP/News-Miner

JUNEAU, Alaska (AP) – An Alaska legislative committee on Tuesday unveiled a draft oil and gas tax credit bill aimed at breaking an impasse that helped send lawmakers into overtime, proposing to phase out most existing credits

May 12, 2016 - 1:19 pm Closing Bell Story‎, Energy News, Regulatory
Crescent Point Announces Q1 2016 Results and Record Production

Crescent Point Announces Q1 2016 Results and Record Production

CALGARY, ALBERTA–(Marketwired – May 12, 2016) –

(All financial figures are approximate and in Canadian dollars unless otherwise noted)

Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX:CPG)(NYSE:CPG) is pleased to announce its operating and financial results for the …

Get Your 5-Cent Natural Gas, Right Here in Canada

From Reuters Canada

For a brief moment this week, Canadian natural gas was basically free.

While oil producers fretted over what production shut-ins, caused by a massive Alberta wildfire, would do to the price of Canadian crude oil, those same …

May 12, 2016 - 12:45 pm Closing Bell Story‎, Energy News
Core Lab Announces Upsizing and Pricing of Public Offering of Common Stock

Core Lab Announces Upsizing and Pricing of Public Offering of Common Stock

Core Lab Announces Upsizing and Pricing of Public Offering of Common Stock

AMSTERDAM, May 11, 2016 /PRNewswire/ — Core Laboratories N.V. (NYSE: “CLB US”) (Euronext Amsterdam: “CLB NA”) announced the upsized pricing of an underwritten public offering of 1,475,000 shares …

Tanos Energy Acquires Assets From Both ConocoPhillips and Fidelity, $500 Million Capital Commitments From Quantum Energy Partners

TYLER, TX –(Marketwired – May 12, 2016) – Tanos Energy (“Tanos” or the “Company”), a private energy company focused on acquisitions and horizontal development in the Ark-La-Tex region, announced today that it has recently closed on the acquisition …

Tamarack Valley Energy Announces 2016 First Quarter Results

Tamarack Valley Energy Announces 2016 First Quarter Results

CALGARY, ALBERTA–(Marketwired – May 11, 2016) – Tamarack Valley Energy Ltd. (TSX:TVE) (“Tamarack” or the “Company”) is pleased to announce its operating and financial results for the first quarter of 2016. Production in the

Crown Point Operating and Financial Results for Q1 2016, Argentina Update

Crown Point Operating and Financial Results for Q1 2016, Argentina Update

CALGARY, ALBERTA–(Marketwired – May 10, 2016) – Crown Point Energy Inc. (“Crown Point”, the “Company” or “we) (TSX VENTURE:CWV) today announced its operating and financial results for the three months ended March 31, 2016.

Copies of the …

May 11, 2016 - 3:53 pm Canada, Closing Bell Story‎, Earnings, Energy News
Peyto Exploration Earns $42 Million in Q1 2016

Peyto Exploration Earns $42 Million in Q1 2016

CALGARY, ALBERTA–(Marketwired – May 10, 2016) – Peyto Exploration & Development Corp. (“Peyto” or the “Company”) (TSX:PEY) is pleased to present its operating and financial results for the first quarter of the 2016 fiscal year. Continued cost reductions and record …

May 11, 2016 - 3:46 pm Canada, Closing Bell Story‎, Earnings, Energy News
Spartan Energy Announces Record Quarterly Production of 9,683 Boe/d

Spartan Energy Announces Record Quarterly Production of 9,683 Boe/d

CALGARY, ALBERTA–(Marketwired – May 11, 2016) – Spartan Energy Corp. (“Spartan” or the “Company”) (TSX:SPE) is pleased to report its financial and operating results for the three months ended March 31, 2016. Selected financial and operational information is set out …

May 11, 2016 - 3:39 pm Canada, Closing Bell Story‎, Energy News
Husky Energy Sells $595 Million Saskatchewan Assets

Husky Energy Sells $595 Million Saskatchewan Assets

CALGARY, AB–(Marketwired – May 10, 2016) – Husky Energy (TSX: HSE) has reached an agreement for the sale of select assets in southwest Saskatchewan for $595 million to Whitecap Resources.

“Today’s announcement is another step in the transition of …

May 11, 2016 - 3:35 pm Canada, Closing Bell Story‎, Energy News

Russian Assets Lead Gains in Emerging Markets as Oil Advances

From Bloomberg:

Russia’s ruble and stocks advanced the most in emerging markets as oil’s jump after a decline in U.S. crude stockpiles renewed investor appetite for the assets of the world’s biggest energy exporter.

The ruble surged 1.7 percent to …

May 11, 2016 - 2:09 pm Closing Bell Story‎, Energy News

Japanese oil company backs out of B.C. liquefied natural gas project

From CTV News:

AltaGas Ltd’s joint venture partner, Idemitsu Kosan Co., says it has stopped work on the Triton liquefied natural gas project in northern British Columbia.

The Japanese conglomerate says in its annual results issued Tuesday that it had …

May 11, 2016 - 2:08 pm Closing Bell Story‎, Energy News