Natural Gas News

Netherland Sewell: School is Back in Session

Netherland Sewell: School is Back in Session

Financial professionals are encouraged to register now for Netherland Sewell 2017 Oil & Gas Property Evaluation Seminars while seats are available

Each year since 1994, Netherland Sewell & Associates, Inc. (NSAI), one of the industry’s most highly regarded petroleum consulting …

EIA November NatGas a Mixed Bag

EIA November NatGas a Mixed Bag

November electric power deliveries 2nd highest since EIA began tracking them

In its Natural Gas Monthly released today, the EIA outlined U.S. natural gas production and consumption for November 2016.

Natural gas production increased 2.2% over October 2016 levels, but …

Exxon Mobil: $2 Billion Rocky Mountain Dry Gas Impairment Thunks Earnings

Exxon Mobil: $2 Billion Rocky Mountain Dry Gas Impairment Thunks Earnings

Exxon Mobil will start developing Delaware basin assets in 2017

Exxon Mobil (ticker: XOM) reported fourth quarter results today, showing lower earnings than expected. Net fourth quarter earnings were $1.680 billion, or $0.405 per share. Overall 2016 earnings are $7.840 …

Shell Selling North Sea Assets to Chrysaor for $3.8 Billion

Shell Selling North Sea Assets to Chrysaor for $3.8 Billion

Deal will make Chrysaor one of the largest UK oil and gas producers 

Royal Dutch Shell (ticker: RDSA) has agreed to sell a package of UK North Sea assets to privately held UK producer Chrysaor for a total of up …

SM Energy Wells on Acquired Midland Acreage Exceeding Production Estimates

SM Energy Wells on Acquired Midland Acreage Exceeding Production Estimates

SM Energy announces the results of 8 Midland wells on its recently acquired acreage

SM Energy (ticker: SM) released initial production results from eight wells drilled on acreage the company acquired from Rock Oil and QStar, saying that the …

Project Slowdown in North Sea and UK Drag Down BHI Revenue, Earnings

Project Slowdown in North Sea and UK Drag Down BHI Revenue, Earnings

GE merger on schedule

Baker Hughes (ticker: BHI) reported fourth quarter earnings on Thursday, showing a wider loss than expected.

Net loss was $417 million, or ($0.98) per common share, which includes charges related to asset impairments, restructuring charges, loss …

AltaGas to Acquire WGL Holdings in C$8.4 Billion Transaction

AltaGas to Acquire WGL Holdings in C$8.4 Billion Transaction

Deal creates Montney/Marcellus/Utica Midstream Export Opportunity

AltaGas Ltd. (ticker: ALA) and WGL Holdings, Inc. (ticker: WGL) announced on Jan. 25, 2017, they have entered into a definitive agreement and plan of merger for AltaGas to acquire WGL in an all …

Permian Rig Count Now 60% Higher than Last Year: BHI

Permian Rig Count Now 60% Higher than Last Year: BHI

Total U.S. rig count up 18 from last week

The rig count continued to rise in the United States for the week ended January 27, 2017, according to Baker Hughes Industries (ticker: BHI). The total count now stands at 712, …

EnerCom Launches EnerCom’s Effective Rig Count

EnerCom Launches EnerCom’s Effective Rig Count

EnerCom’s Effective Rig Count is a measure of drilling efficiency that accounts for the unique attributes of shale and the way shale plays are being developed in 2017

The industry has traditionally relied on the BHI weekly rig count as …

Range Resources Announces a 22% Increase in Proved Reserves

Range Resources Announces a 22% Increase in Proved Reserves

Range Resources replaces 292% of production with reserves

Fort Worth-based Range Resources (ticker: RRC) put out a press release Friday announcing that the company’s proved reserves as of December 31, 2016 were 12.1 Tcfe, up 22% from year-end 2015. The …

Sanchez Energy Announces 2016 Operating Results

Sanchez Energy Announces 2016 Operating Results

Additional 110,000 Acres Leased in the Western Eagle Ford

Sanchez Energy Corporation (ticker: SN) announced operating results for 2016, highlighting the following:

  • As previously announced, Sanchez Energy along with Blackstone Energy Partners has signed an agreement to acquire $2.3
Chevron Looks to Expand Permian Activity in 2017

Chevron Looks to Expand Permian Activity in 2017

Chevron targets Permian, Western Australia, Kazakhstan for 2017 capital expenditures

Chevron Corporation (ticker: CVX) released its fourth quarter results today, showing significantly lower earnings than expected. Net earnings were $415 million, or $0.22 per share, bringing total 2016 results in …

Federal Revenue from Energy Hits 12-Year Low in 2016 at only $6 Billion

Federal Revenue from Energy Hits 12-Year Low in 2016 at only $6 Billion

Lower oil prices see federal revenues from oil and gas operations at their lowest point since at least 2004

Federal revenue from energy production on federal and American Indian lands fell for a second consecutive year to the lowest point …

Trump Administration Action Signals Plans to Move Forward with Keystone XL and Dakota Access

Trump Administration Action Signals Plans to Move Forward with Keystone XL and Dakota Access

Trump executive action could expedite energy pipeline projects

President Donald Trump signed executive actions to accelerate the Keystone XL and Dakota Access pipeline projects and to decree that American steel should be used for pipelines built in the United States, …

US oil and gas mergers gained momentum and almost hit $200 billion last year

From CNBC:

Mergers across the U.S. oil and gas industry totaled nearly $200 billion in 2016 as crude prices stabilized and major producers agreed to output cuts, a new report from PwC shows.

The auditing firm expects the tailwinds …

Double-Digit Gains in the Permian Lead Growth in the Rig Count

Double-Digit Gains in the Permian Lead Growth in the Rig Count

U.S. rig count is growing, particularly in the Permian, as OPEC appears to be complying

The United States rig count grew by 35 in the week ended January 20, 2017, according to Baker Hughes Industries (ticker: BHI). The total count …

LNG Traders Netting $1 Million per Cargo from U.S. To Asia

From Reuters:

U.S. liquefied natural gas exporters are sending tankers to Asia to fill a gap in the region’s demand as markets have tightened more-than-expected on surging consumption in China and Pakistan, and because of Australia’s struggles to ramp …

January 20, 2017 - 4:27 pm Closing Bell Story‎, Energy News, Natural Gas News

Hottest Thing in LNG Is Producing Power as Record Glut Looms

From Bloomberg:

Seeking new ways to market their product, producers of liquefied natural gas are turning to an age-old technique: packaging.

As demand for electricity booms in developing nations from South Africa to Chile, LNG producers are offering to …

January 18, 2017 - 4:44 pm Closing Bell Story‎, Energy News, Natural Gas News

Global oil, gas discoveries drop to 70-year low: Rystad Energy

From Reuters:

Oil and gas discoveries around the world dropped last year to their lowest since the 1940s after companies sharply cut back in their search for new resources amid falling oil prices.

The decline in discoveries means companies …

China Sees Falling Crude, Rising Natgas Production through 2020

China Sees Falling Crude, Rising Natgas Production through 2020

The National Development and Reform Commission releases its projections for the remainder of the decade

China expects crude oil production to fall by 7% compared with its previous five-year plan as production from some of the country’s largest, and oldest, …

Goodrich Petroleum Announces Haynesville Shale Well Results And Operational Update

Goodrich Petroleum Announces Haynesville Shale Well Results And Operational Update

Goodrich Petroleum Corporation (OTCQX: GDPP) today announced preliminary results on two Haynesville Shale wells in North Louisiana.

The Company has participated in two Haynesville Shale wells in Caddo Parish, Louisiana that have reached a combined 24-hour peak rate to …

U.S. Rig Count Falls for the First Time in 12 Weeks

U.S. Rig Count Falls for the First Time in 12 Weeks

The total U.S. rig count fell by six in the week ended January 13, 2017

The U.S. rig count declined for the first time in 12 weeks in the week ended January 13, 2017, according to Baker Hughes Industries (ticker: …

Anadarko, Chevron, Plains All American Top List of Best U.S. Oil & Gas Employers: Indeed

Anadarko, Chevron, Plains All American Top List of Best U.S. Oil & Gas Employers: Indeed

Indeed releases its ‘Best Places to Work’ rankings

International employment website Indeed serves more than 200 million people each month who are searching for jobs, posting resumes, and researching companies in 60 countries.

According to Indeed’s research, visitors who were …

PetroQuest Ups Q4 Production Guidance, Updates Thunder Bayou and Cotton Valley

PetroQuest Ups Q4 Production Guidance, Updates Thunder Bayou and Cotton Valley

Big 2017 in the offing for PQ

PetroQuest Energy, Inc. (ticker: PQ) increases its fourth quarter 2016 production guidance to approximately 49-50 MMcfe/day, up from its previously issued guidance of 42-46 MMcfe/day.

The increased production guidance is primarily due to …

Prices, Promises and a Pumped Up U.S. Rig Count

Prices, Promises and a Pumped Up U.S. Rig Count

Oil in 2017

In WTI near month contracts, oil was trading above $55+ to start off the year, then it fell into a downward slog, dropping 4% to sub-$52 today. It feels like oil prices have been a tale of …

Antero to Increase Capex 7%, Expand Utica in 2017

Antero to Increase Capex 7%, Expand Utica in 2017

$1.5 Billion Planned for Drilling, Completions, Extensions, Additions: 7 Rigs, 170 Horizontal Completions

Antero Resources Corporation (ticker: AR) announced its planned 2017 capital budget to $1.5 billion in a recent press release, which is a 7% increase over 2016.…

U.S. Rig Count Finally Exceeds Year-Ago Levels

U.S. Rig Count Finally Exceeds Year-Ago Levels

The U.S. rig count hits 665, one rig higher than at this time last year

The recovery in oil prices has spurred operators in the United States to add more rigs to the active fleet. This has pushed the total …

Lebanon to restart oil, gas licensing round after three-year delay

From Reuters:

Lebanon intends to restart its first oil and gas licensing round after a three-year delay, the energy minister said on Thursday, hoping to kick-start the development of a hydrocarbon industry.

In its first sitting since being formed …

January 5, 2017 - 11:00 am Closing Bell Story‎, Energy News, Natural Gas News
Oil & Gas 360 Energy News

DCP Partners Combination Creates Largest U.S. NGL Producer and Gas Processor

Acquisition Simplifies Complex Corporate Structure, Reduces Operating Costs

DCP Midstream, LLC announced that it will combine with DCP Midstream Partners, LP (ticker: DPM), simplifying the corporate structure and creating the largest natural gas liquids producer and gas processor in the …

Elk Petroleum to Acquire Freeport-McMoRan’s Wyoming Gas and CO2 Production Assets

Elk Petroleum to Acquire Freeport-McMoRan’s Wyoming Gas and CO2 Production Assets

Elk secures second largest CO2 supply source in Wyoming for CO2 EOR; profitable production of ~3,400 BOEPD (20 MMSCFD+) 

Freeport-McMoRan has sold another group of oil and gas assets. Australia’s Elk Petroleum Ltd (ticker: ELK) has entered into a purchase …