By Tyler Losier, Energy Reporter, Oil & Gas 360 Harvest Oil & Gas sells Barnett shale assets for $72 million Harvest Oil & Gas Corporation (stock ticker: HRST), formerly EV Energy Partners L.P., has entered into a definitive agreement with an undisclosed buyer to sell all of its interests in the Barnett shale formation for $72 million. For the first
From Reuters Anadarko Petroleum Corp (APC.N), in its last earnings report before shareholders vote on its sale to Occidental Petroleum (OXY.N), on Friday reported a quarterly profit that topped analysts’ estimates, as higher production offset lower prices for its oil. It reported a net loss on a $1 billion breakup fee paid to Chevron Corp (CVX.N). Anadarko accepted a $38
From Bloomberg Timor-Leste, the tiny nation between Australia and Indonesia, has enrolled China’s help to push forward a natural gas export project that’s been abandoned by global oil majors as too challenging. The nation has recently signed an engineering and construction agreement with a state-backed Chinese firm and is targeting a final investment decision on the liquefied natural gas export
From Bloomberg The Winklevoss twins and a Dallas-based private equity firm are putting their money behind one way to shrink a glut of natural gas from U.S. shale basins: Burn it to produce on-site electricity. Mesa Natural Gas Solutions LLC makes mobile generators that use gas from places like the Permian Basin of West Texas to power drilling operations. It’s a
From Bloomberg Subsidizing nuclear power to fight climate change is one thing in liberal states like New York and New Jersey. It’s quite another in the natural gas bastions of Pennsylvania and Ohio. Drillers and gas-fired power plant operators are girding to fight measures to save money-losing reactors in the Keystone and Buckeye states, saying they’ve learned from past defeats and are
Canadian NatGas producer Tourmaline is growing—fast; free cash will pay for dividend, debt reduction By Richard Rostad, analyst, Oil & Gas 360 Tourmaline Oil (ticker: TOU) announced fourth quarter results and reserves today, showing net earnings of $190.9 million, or $0.70 per share. The company’s Q4 2018 earnings are more than double those of Q4 2017, as improved natural gas
From Bloomberg A natural gas supply disruption forcing Michigan residents to lower thermostats and automakers to suspend operations could bolster President Donald Trump’s effort to keep coal plants operating possibly by invoking national security powers. The episode began Wednesday when a fire at a compressor station cut off the flow of natural gas from the facility. That prompted Michigan Governor Gretchen Whitmer
“I can’t help but feel we are in for another extended period of low prices. The only way for me to survive is to quit spending money.” “The administration is our largest uncertainty in our business at this point, as they want low oil prices and will do everything in their power to deliver low oil prices.” “Relying upon the
From Reuters The number of new oil and gas projects will rise five-fold next year from a 2015 trough but overall spending is still unlikely to be enough to meet future demand, consultancy Wood Mackenzie said in a report. Shaken by a sharp drop in oil prices in recent months, boards are generally expected to stick to spending discipline imposed
From Bloomberg China has gone all out to avoid a repeat of last winter’s crippling gas shortages. The early verdict: so far, so good. China’s gas needs peak for its so-called winter heating season. It’s a time of surging demand and firmer prices as the nation seeks to curb its reliance on dirty coal. The difference so far this year — none of the
From Reuters East Timor has agreed to buy Royal Dutch Shell’s stake in the Greater Sunrise natural gas fields off the northern coast of Australia for $300 million, the government and Shell Australia said on Wednesday. The agreement for Shell’s 26.56 percent stake in the project will allow the tiny nation to push for development of the field. The site,
Shell is projecting estimated peak production of 40 MBOEPD from Kaikias Shell Offshore, Inc. (ticker: RDS.A) started production early at the first phase of the Kaikias project, a subsea development in the U.S. Gulf of Mexico with estimated peak production of 40,000 BOEPD. Shell has reduced costs by around 30% at this deep-water project since taking the investment decision in
