Chinese Fund Buys 9.9% Stake in $27 Billion Russian LNG Project Since the implementation of U.S. sanctions against Russia for its actions in Crimea, one of the major challenges facing the Russian oil and gas industry is gaining access to long-term project financing. Under the current sanctions regime, loans to Russia can be no longer than 30 days if they
Sanchez Production Partners (ticker: SPP), a midstream-focused Master Limited Partnership, increased its footprint in the Eagle Ford with a $345 million cash acquisition announced on September 28, 2015. The assets, purchased from Sanchez Energy Corporation (ticker: SN) consist of 150 miles of gathering lines and associated infrastructure in four gathering and processing facilities. The transaction is expected to close in
China looks to break oil and gas monopoly with new structure, further reforms The Chinese government is moving forward with plans to shake things up at its oil and gas monopolies. Reports say China will take the oil and gas transportation operations currently under the control of state-giants China National Offshore Oil Corp (CNOOC; ticker: CEO), China National Petroleum Corp
The United States technological revolution has made rock stars out of flashy, emerging new plays like the Bakken, Niobrara and Utica. And everybody wants to get in on the next hot area. Oklahoma, on the other hand, is old school. It’s a model of consistency when it comes to United States energy development. The Sooner State has always been among
Presidential hopeful Hillary Clinton believes Keystone is a distraction from climate change, fellow Dems weigh in After choosing to remain silent on her official stance regarding the Keystone XL pipeline, Hillary Clinton said today that she opposes the completion of the project, reports NBC News. “I think it is imperative that we look at the Keystone XL pipeline as what
Gazprom faces obstacles to financing $11 billion project in current market – Fitch Ratings Russian gas giant Gazprom (ticker: OGZPY) may not have the financial strength to follow through on the construction of its Nord Stream 2 project, according to a report from credit ratings agency Fitch. According to the rating agency, Nord Stream 2 may hurt the company’s commercial
WEATHERFORD UPDATE A single-day stock price drop of more than 17% was apparently enough for Weatherford International (ticker: WFT) to cancel its plans for a capital raise. WFT shares have recovered to an extent, but are still trading roughly 10% lower compared to when the raise was first announced. “While investor interest was strong for this offering, we are unwilling
20-year contracts already set for 96% of capacity Atlantic Coast Pipeline LLC (ACP), a joint venture between Dominion Resources (ticker: D), Duke Energy (ticker: DUK), Piedmont Natural Gas (ticker: PNY) and AGL Resources (ticker: GAS), filed with the Federal Energy Regulatory Commission (FERC) for the construction of its 564-mile pipeline that would supply natural gas to Virginia and North Carolina.
Enterprise Increases Capacity of Bank Credit Facilities by $500 Million to $5.5 Billion Enterprise Products Partners L.P. (NYSE:EPD) (“Enterprise”) announced today that its operating subsidiary, Enterprise Products Operating LLC (“EPO”), increased its bank credit facilities by $500 million to provide the company with up to $5.5 billion of aggregate borrowing capacity. The facilities consist of an amended $4.0 billion multi-year
Did Cheniere Squeeze through a Closing Door? Carl Icahn has followed up his August purchase of 19.4 million Cheniere Energy (ticker: LNG) shares by purchasing another 3.3 million shares, increasing his stake in the company to about 9.59%. Icahn’s group was awarded two seats on the board upon its purchase last month and has now invested approximately $1.2 billion in
Analysts have pegged scores of oil and gas companies as potential takeover targets in the new commodity environment, but Williams Companies (ticker: WMB) is one of the few who has remained in the acquisition spotlight ever since a failed takeover attempt was made public in June. The rejected offer of $53.1 billion from Energy Transfer Equity (ticker: ETE) was refused
Warren Buffet looks to Phillips 66 Just eight days after the initial news that Warren Buffet’s Berkshire Hathaway Inc. (ticker: BRK.A) had invested $4.5 billion in Phillips 66, Buffet’s firm decided to purchase an additional 3.5 million shares of the company, bringing its total share in PSX to 11.4%. Berkshire’s stake in the company is now worth $4.96 billion, based
