Residents of the northeast United States are likely to dismiss any notion of the upcoming winter season (it was 90 degrees in Boston today), but the chilly months that accompany football season are indeed approaching. Winter for New Englanders also brings wide disparities in consumer power costs, plagued by a lack of infrastructure in the nearby Marcellus/Utica region. ICF International,
All stock offering would give Woodside growth potential Woodside Petroleum (ticker: WPL), Australia’s largest independent oil and gas company, announced that it has made a non-binding offer for Oil Search Ltd. (ticker: OSH) under which Woodside would acquire all of the shares in Oil Search for a consideration of one Woodside share for every four Oil Search shares, according to
Gazprom makes first steps towards spot market pricing with natural gas auction Russia’s state-owned gas giant Gazprom (ticker: OGZPY) announced that it will hold a natural gas auction in Europe as the company explores new ways to expand its market share. Traditionally, Gazprom’s gas contracts have been linked to oil prices, a formula the company has fought to maintain despite
Total sells North Sea midstream assets On August 27, Total (ticker: TOT) announced that it sold its FUKA and SIRGE gas pipelines, along with the St. Fergus Gas Terminal, to North Sea Midstream Partners for £585 million (approximately $905 million). The Frigg UK Pipeline (FUKA) is a 362-kilometer, 32-inch pipeline with a nominally capacity of 1,271 MMcf/d, while the Shetland
Raymond James Cuts Long Term Henry Hub Price to $3.25 The industry buzz word for the last several years has been “liquids,” as the majority of companies have focused on oil-rich plays and realigned drilling operations to higher condensate areas. Companies like Penn Virginia (ticker: PVA) and Callon Petroleum (ticker: CPE) strategically shifted their portfolios to oil basins from their
Atlas Companies Appoint Jeffrey M. Slotterback as Chief Financial Officer PHILADELPHIA, Aug. 31, 2015 /PRNewswire/ — Atlas Energy Group, LLC (ATLS) and Atlas Resource Partners, L.P. (ARP) today announced the appointment of Jeffrey M. Slotterback as Chief Financial Officer of both ATLS and ARP, which will take effect as of September 18th. Mr. Slotterback currently serves as Chief Accounting Officer of
Ukraine hopes to return to last winter’s gas deal Ukrainian Prime Minister Arseniy Yatsenyuk said last Friday that Ukraine and Russia should implement a similar deal to the one reached last winter for the coming months, reports the Associated Press. “We are convinced that the only mechanism to ensure a gas transit to the E.U. as well as stable supplies
Stolt LNGaz receives approval from Quebec government for new LNG plant The Quebec government yesterday approved the Stolt LNGaz natural gas liquefaction plant in Becancour, Quebec. The LNG project will produce 500,000 tons of LNG to be distributed to customers in Quebec that are not currently serviced by natural gas pipelines. The Stolt LNGaz project is valued at approximately C$800
LNG: Energy CEOs talk about exporting U.S. shale gas to Europe, Asia “We are changing the way the global natural gas markets are going to function”—Charif Souki, Cheniere Energy CEO The exportation of liquefied natural gas (LNG) and crude oil from the U.S. were hot topics at EnerCom’s The Oil & Gas Conference® 20. Marcellus producer Range Resources is well
Meritage Midstream to provide 75 MMcf/d of gas gathering and processing in Canada Meritage Midstream Services announced that its Canadian affiliate, Meritage Midstream Services III, has entered into a definitive agreement with Canadian International Oil Corporation (CIOC) to build natural gas gathering, compression and processing assets and crude oil gathering assets to support the development of CIOC’s Montney and Duvernay
Teekay purchases 12 Suezmax tankers Teekay Tankers Ltd. (ticker: TNK) announced yesterday that the company purchased 12 Suezmax tankers from Principal Maritime for $662 million. The purchase will increase Teekay’s fleet size by 60%, and be immediately accretive to the company’s earnings, according to the press release put out by Teekay. The purchase will make Teekay one of the largest
Magellan Midstream reports second quarter results Oklahoma-based Magellan Midstream (ticker: MMP) reported its second quarter financial results, showing 21% in year-over-year income growth. In Q2, MMP reported $177.4 million in net income, an increase of $31.1 million from $146.3 million in the same period last year. Distributable cash flow (DCF) for the company also increased by 14% to $222.8 million
