From Reuters Oil jumped more than 2% on Thursday on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions. Brent crude LCOc1 ended the session up $1.15, or 2.1%, at $57.38 a barrel, after hitting a session high of
By Tyler Losier, Energy Reporter, Oil & Gas 360 Amplify Energy and Midstates Petroleum to merge after receiving shareholder approval Amplify Energy Corporation (stock ticker: AMPY), a Houston-based independent E&P, has received the necessary shareholder approval for its previously announced all-stock merger-of-equals transaction with Midstates Petroleum Company (stock ticker: MPO). Likewise, Midstates’ shareholders also signed off on the deal at
By Tyler Losier, Energy Reporter, Oil & Gas 360 Alliance Resource Partners Acquires $145 million worth of Permian mineral interests from Wing Resources Alliance Resource Partners L.P. (stock ticker: ARLP), a diversified natural resource company based in Tulsa, Oklahoma, has completed its previously announced acquisition of oil and gas mineral interests in the Permian Basin from Wing Resources LLC and
From Reuters Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world’s two biggest buyers. Brent crude LCOc1 fell $2.08, or 3.36%, to settle at $59.81 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1
From Reuters Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1. The drop in Brent crude was the steepest in more than three years, undoing a fragile oil rally built on steady drawdowns
By Tyler Losier, Energy Reporter, Oil & Gas 360 Continental Resources sells STACK water handling facility to Lagoon Water Solutions for $85 million Continental Resources (stock ticker: CLR), an Oklahoma City-based independent E&P, is selling its eastern STACK water gathering and recycling system in Blaine county, Oklahoma to Lagoon Water Solutions for $85 million. In conjunction with the divestiture, Continental
By Tyler Losier, Energy Reporter, Oil & Gas 360 Mach Resources and Bayou City Energy form BCE-Mach II LLC, signs two PSAs Mach Resources, an independent E&P founded in January of 2017, and upstream-focused private equity firm Bayou City Energy, have formed BCE-Mach II LLC, representing the second partnership between the two companies. Their first collaboration, BCE-Mach LLC, continues to
By Tyler Losier, Energy Reporter, Oil & Gas 360 Encana sells Newfield Arkoma Basin natural gas assets Encana Corporation (stock ticker: ECA), a Canadian-based company with unconventional assets in multiple North American basins, has agreed to sell its natural gas assets in Oklahoma’s Arkoma Basin to an undisclosed buyer through its wholly owned subsidiary Newfield Exploration Mid-Continent Inc. Total cash
NGL Energy Partners LP Closes Combination with Mesquite and Announces Investment from EIG and FS Energy and Power Fund
By Tyler Losier, Energy Reporter, Oil & Gas 360 New Ft. Laramie origin point announced, open season launched Saddlehorn Pipeline Company, owned in part and operated by Magellan Midstream (stock ticker: MMP), is planning to expand its Saddlehorn pipeline to a new origin point in Fort Laramie, Wyoming, which would subsequently increase the system’s capacity by up to 100,000 BOPD.
From The Oklahoman The working number of rigs drilling for oil and gas in Oklahoma is about 28% lower than what it was the first week of January. The decline has squeezed the number of employed rig workers, which likely has slowed sales and hotel tax revenues in communities near where the rigs had run. That contraction persists even while
By Tyler Losier, Energy Reporter, Oil & Gas 360 Roan reaffirms $750 Million borrowing base Roan Resources (stock ticker: ROAN) received commitments for a $100 million term loan facility this week, securing funds affiliated with certain shareholders represented on its board of directors. Interest rates for the loan are expected to be equal to three-month LIBOR plus 7.5%. In exchange
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