Post Tagged with: "energy"

Source: CNBC

The coronavirus pandemic is debunking some long-held myths of the energy industry

CNBC


The coronavirus pandemic has exposed some hard truths to the world’s largest oil and gas majors, energy analysts have told CNBC, with many reeling after historic second-quarter losses laid bare the financial frailty of the industry.

“Big Oil” companies,

Source: CNBC

Oil and gas production ETF paces for best quarter on record, but traders say it’s still a ‘show-me story’

CNBC


Oil and gas stocks are defying the odds.

The SPDR S&P Oil and Gas Exploration and Production ETF (XOP) is having its best quarter on record, up over 102% since April 1 despite concerns about oversupply. That’s more

Source: CNBC

Goldman on how the ‘largest economic shock of our lifetimes’ will permanently alter energy markets

CNBC


The coronavirus pandemic will likely be a “game-changer” for energy markets, according to analysts at Goldman Sachs, with carbon-based industries such as oil thought to be sitting “in the cross-hairs.”

A global health crisis has meant countries around …

EnerCom Dallas – ESG for the oil and gas industry

EnerCom Dallas – ESG for the oil and gas industry

Oil and Gas 360


The EnerCom Dallas Energy Conference featured an outstanding panel on ESG (Environmental, Social and Governance) featuring Matthew Todd, Director of The Environmental Partnership; Chris Hughen, Associate Professor of Finance at the University of Denver; and Ken …

Casillas Petroleum Resource Partners and Energy Water Services Form New Midstream Company

Casillas Petroleum Resource Partners and Energy Water Services Form New Midstream Company

By Tyler Losier, Energy Reporter, Oil & Gas 360

Casillas Petroleum Resource Partners and Energy Water Services team up to form Woody Creek Midstream
Casillas Petroleum Resource Partners LLC, a portfolio company of Kayne Anderson Energy Funds, and Energy Water

U.S. Oil Sector Sets Another Record in Another Sign of Energy Independence

U.S. Oil Sector Sets Another Record in Another Sign of Energy Independence

From The Houston Chronicle


The U.S. energy sector broke another record last year as the shale boom sent natural gas and petroleum production soaring.

U.S. petroleum and natural gas production jumped by 16 percent and by 12 percent respectively in …

Source: Gulfport Energy

New CFO at Gulfport Energy

By Tyler Losier, Energy Reporter, Oil & Gas 360

Quentin R. Hicks joins Gulfport Energy as executive vice president and CFO
Gulfport Energy Corporation (stock ticker: GPOR), an independent E&P based out of Oklahoma City, has hired Quentin R. Hicks

Gas is Part of the Solution in the Planet’s Energy Transition, Goldman Sachs Strategist Says

Gas is Part of the Solution in the Planet’s Energy Transition, Goldman Sachs Strategist Says

From CNBC


Gas has an important role to play in the global energy transition, according to the head of EMEA natural resources research at Goldman Sachs.

Speaking to CNBC Friday, Michele Della Vigna said that, in his personal view, gas …

Big Oil is Investing Billions in Potentially Worthless Projects

Big Oil is Investing Billions in Potentially Worthless Projects

From Bloomberg Businessweek

By Mathew Carr


The top 10 energy companies are planning investments approaching $1 trillion by 2030, in everything from finding and tapping new fields to equipment ranging from drones to drilling rigs. If the oil and gas …

A Look at U.S.A.’s Energy States: Which Are the Best and Worst for Business?

A Look at U.S.A.’s Energy States: Which Are the Best and Worst for Business?

CEOs rank Texas at the top, California at the bottom

Chief Executive magazine has published its newest list of the best and worst states for business. Texas ranked Number One—again. California is Number 50—again.

In the executive summary of

May 16, 2019 - 1:09 pm Closing Bell Story‎, Economy, Jobs
Energy Deals Ice Over in Canada

Energy Deals Ice Over in Canada

From Bloomberg

While the $38 billion takeover of Anadarko Petroleum Corp. has been seen as a potential catalyst for a wave of U.S. oil industry consolidation, the market for energy deals north of the border remains frigid, with few potential …

U.S. Energy Dominance Is Good for The World: U.S. Secretary of State Pompeo

U.S. Energy Dominance Is Good for The World: U.S. Secretary of State Pompeo

From the Houston Public Media

U.S. Secretary of State Mike Pompeo said the United States’ growing energy dominance helps its geopolitical goals.

Speaking at the CERAWeek energy conference in Houston last week, Pompeo said the United States is not just …

March 18, 2019 - 6:54 am Closing Bell Story‎, Energy News, People
Podcast with GuildOne President James Graham: What is Blockchain, and How Will It Affect the Energy Industry?

Podcast with GuildOne President James Graham: What is Blockchain, and How Will It Affect the Energy Industry?

What is blockchain?

Blockchain is the underlying technology to the now-prevalent cryptocurrencies, which began as a way to build a decentralized digital cash system.

Bitcoin, the first cryptocurrency, was established in 2008 by a person (or, perhaps, group of people) …

August 15, 2018 - 9:12 am Closing Bell Story‎, Featured Interviews, Top Story
Africa’s Largest non-OPEC Producer is on a Roll

Africa’s Largest non-OPEC Producer is on a Roll

Egypt is the largest non-OPEC oil producer in Africa and the third-largest dry natural gas producer on the continent, according to the EIA’s newest report on Egypt. In recent years, the country has seen political instability accompanied by growing power …

Callon Petroleum Expands Permian Footprint with $570 Million Delaware Purchase

Callon Petroleum Expands Permian Footprint with $570 Million Delaware Purchase

Consolidation continues in the Permian, with Callon Petroleum (ticker: CPE) purchasing $570 million in assets Thursday.

Callon intends to acquire 28,657 net acres in the Delaware, primarily in Ward and Loving Counties, from Cimarex Energy (ticker: XEC). This acreage is …

Gulfport Energy Scores Big Gas Wells in the SCOOP

Gulfport Energy Scores Big Gas Wells in the SCOOP

Expects to fund all $780 million CapEx within cash flow in 2018

Gulfport Energy Corporation (ticker: GPOR) provided an update on two notable SCOOP well results.

During its initial 30 days of production, the Lilly 3-15X10H cumulatively produced 395.5 MMcf …

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

100% year-over-year growth in Midland Basin production; realized price is SM’s highest level in 14 quarters: $37.76/BOE average

Midland Basin operations up to nine rigs and five completions crews; SM expects to double completions in Q2

The Midland Basin produced …

Diamondback Energy Running 11 Rigs, 5 Frac Crews in the Permian: Production Up 10% over Q4

Diamondback Energy Running 11 Rigs, 5 Frac Crews in the Permian: Production Up 10% over Q4

Diamondback Energy, Inc. (ticker: FANG) produced 102.6 MBOEPD in Q1 2018. This is 10% more than Q4 2017 production volumes of 92.9 MBOEPD. Diamondback is currently running 11 drilling rigs and five dedicated completion crews.

Q1 2018 average realized prices …

Lilis Energy Makes Executive Changes

Lilis Energy Makes Executive Changes

Permian E&P Lilis Energy, Inc. (ticker: LLEX) has appointed Ronald D. Ormand to CEO, in addition to his position as chairman of the board.

James W. Denny III has been appointed EVP of production and operations, and the board of …

EIG’s FS Energy and Power Fund – at $4.3 Billion – is Largest Energy BDC

EIG’s FS Energy and Power Fund – at $4.3 Billion – is Largest Energy BDC

FS Investments (FS) and EIG Global Energy Partners (EIG) closed a transaction today, allowing EIG to manage FS Energy and Power Fund (FSEP). According to the company’s press release, FSEP will be the largest energy-focused business development company (BDC) in …

Icahn at it Again

Icahn at it Again

Last week Carl Icahn gave Sandridge Energy Inc. (ticker: SD) another poke as he suggested an all-cash offer for the company with a major catch – he wants to decide who goes on the company’s board of directors.

Bloomberg reported

Frontera Drums Up 70 MBOEPD in 2017, Plans 2018 Encore

Frontera Drums Up 70 MBOEPD in 2017, Plans 2018 Encore

Frontera Energy Corporation (ticker: FEC) reported a net loss of $217 million, or $(4.33) per share for 2017. In Q4 2017, the company posted a net loss of $33 million, or $(0.65) per share. The company attributed the year’s loss …

Source: Nord Stream AG

EnCap Commits $250 Million to Getka Energy

Getka Energy LLC, a midstream services provider, has received an initial equity commitment of $250 million from EnCap Flatrock Midstream.

Getka was formed earlier this year to provide storage, blending and terminal solutions, as well as pipeline transportation and market …

EIA Covers TRRC Blind Spot, Explains How and Why

EIA Covers TRRC Blind Spot, Explains How and Why

Data published by state agencies, like the Texas Railroad Commission, are often incomplete when first published because of a combination of late reporting and processing delays, the EIA explained today as it compared TRRC and EIA data sets.

TRRC’s most …

Courtesy of EQT

Cardinal Energy, Now with Apache’s Conventional Light Oil Assets, Produces 21 MBOEPD in Q4 2017

It was in July 2017 that Apache Corp. (ticker: APA) announced it was selling its conventional light oil production to Cardinal Energy Ltd. (ticker: CJ). At that time, Cardinal estimated that the properties would add about 5,000 BOEPD of production, …

EnCap Flatrock Midstream Adds Managing Director

EnCap Flatrock Midstream Adds Managing Director

EnCap Flatrock Midstream added Rob Wingo as managing director today.

Wingo joins EnCap Flatrock from Rice Energy and Rice Midstream Partners, where he served for five years, most recently as SVP of midstream and marketing for Rice Energy, as well …

Bonanza Creek: Enhanced Completions Throughout Acreage, 2018 CapEx of $280 Million – $320 Million

Bonanza Creek: Enhanced Completions Throughout Acreage, 2018 CapEx of $280 Million – $320 Million

Bonanza Creek Energy (ticker: BCEI) reported a net loss for Q4 2017 of $5.8 million, or $(0.28) per diluted share. For 2017, the company posted a net loss of $2.4 million.

Production in the fourth quarter of 2017 reached 14.8 …

Earthstone Energy Targets Midland Basin with ~$130 Million CapEx, Plans to Spud 10 Net Wells

Earthstone Energy Targets Midland Basin with ~$130 Million CapEx, Plans to Spud 10 Net Wells

Targeting 12-12.5 MBOEPD production for 2018

Earthstone Energy, Inc. (ticker: ESTE) posted a net income of $2.3 million, or $0.09 per share in Q4 2017. For 2017, the company reported a net loss of $12.5 million, or $(0.53) per share.…

VAALCO Energy Earns $0.17 Per Share in 2017

VAALCO Energy Earns $0.17 Per Share in 2017

VAALCO Energy, Inc. (ticker: EGY) reported an income of $10.3 million, or $0.17 per diluted share for 2017. In Q4 2017, the company reported an income of $3.5 million, or $0.06 per diluted share.

The company produced an average of …

David Pursell

Apache Names TPH Alum as Head of Planning and Energy Fundamentals

Apache Corporation (ticker: APA) has named David Pursell as SVP of planning and energy fundamentals, effective March 12, 2018.

“I am pleased to welcome Dave to Apache’s executive management team. Dave’s skills, expertise and capabilities will further enhance our robust …