Production volumes continue to rise for Sanchez Energy Corporation (ticker: SN), an Eagle Ford-focused E&P nearing the third anniversary of its 2011 initial public offering. The landmark acquisition of its Catarina asset in May 2014 doubled its asset base and provided a fourth regional focus area for the company. Q3’14 represents the first full quarter of the realized Catarina impact.
After a Year of Haggling, Lawmakers Greenlight New Drilling Rules On Nov. 6, lawmakers in Illinois signed off on rules to regulate high-volume oil and gas drilling and completions, paving the way for what local industry hopes will result in unleashing the energy boom in southern Illinois. An Illinois “fracing law” was passed by the state legislature in 2013 and
More Hz Drilling in Cotton Valley and Woodford with a Gulf Coast Catalyst around the Corner In a non-deal roadshow in mid-October, PetroQuest Energy (ticker: PQ) executives told investors and analysts that they expected the company would end 2014 with record production and reserves. After reporting its Q3’14 and nine months results, PQ appears to be on track to meet
Unit Corporation (ticker: UNT) is a diversified energy company with three business segments focused on upstream, midstream and drilling operations. The company celebrated its 50th Anniversary in 2013 and is projecting year-over-year growth of 9% to 10% in 2014, with 4% of the growth anticipated in the upcoming fourth quarter. Q3’14 Financial Results Unit reported net income of $67.5 million
UPDATE: The Texas Oil and Gas Association (TXOGA) has filed an injunction in state court in Denton to stop a fracing ban passed by the city. According to the TXOGA petition, “the ordinance … exceeds the limited authority of home-rule cities and represents an impermissible intrusion on the exclusive powers granted by the Legislature to state agencies.” Frac bans
Acorn Energy Inc. (ticker: ACFN) is a multi-faceted holding company with four portfolio companies focused on underwater security solutions, power generation and delivery, and fiber optic sensing solutions. US Seismic Systems, Inc. (USSI) is focused on increasing oil and gas production while decreasing costs through the use of its fiber optic equipment. Off the Starting Blocks Fiber optics is a
Re-exporting Canadian Oil through U.S. According to an Energy Information Administration (EIA) report released October 31, crude oil exports reached their highest levels in 57 years in July. The EIA reported that the United States exported 401,000 BOPD in July, marking the second highest monthly export volume since the EIA started publishing data in 1920. Due to current U.S. crude
By Bloomberg Nov. 3, 2014 Oil-sands crude will supply Gulf Coast refineries regardless of how President Barack Obama rules on the Keystone XL pipeline, Alberta Premier Jim Prentice said. Developers of Alberta’s oil sands can use trains to reach the world’s largest refining market or the Energy East conduit to Canada’s Atlantic coast that TransCanada Corp. (TRP) is also proposing, Prentice
BLOOMBERG – Statoil ASA (STL) said the Johan Sverdrup deposit will generate 1.35 trillion kroner ($200 billion) in revenue over 50 years after it starts pumping oil in 2019 as the company released an environmental impact assessment. The assessment is the first step of the development and operation plan that’s expected to be handled by parliament next year, Stavanger-based Statoil said
BPZ Energy (BPZ) (BPZ), an independent oil and gas exploration and production company, today provided an operations update regarding the 2014 exploration campaign at onshore Block XXIII. Onshore Block XXIII (100% BPZ; 200,000 acres) Three onshore shallow exploration wells, ranging in depth from 3,500 to 3,800 feet, have been drilled at Block XXIII during 2014. These wells targeted the Caracol,
Nathan VanderKlippe, The Globe and Mail 6:44 AM, E.T. | October 31, 2014 Alberta’s new political leadership is calling on Ottawa to take another look at foreign investment rules blamed for a dramatic drop in energy investments from China.When the federal government gave its approval of the $15.1-billion (U.S.) takeover of Nexen Energy ULC in late 2012, it came with
Aubrey McClendon has had little time off since his publicized ouster from his first E&P empire (Chesapeake Energy – ticker: CHK). Since founding American Energy Partners (AEP) in April 2013, McClendon has quietly amassed acreage in several major North American plays. AEP’s structure has expanded to a platform with subsidiaries named for their respective basins: the Marcellus, Permian, Utica and
