Post Tagged with: "Shale"

Photo: TechnipFMC

French half of TechnipFMC split reveals new company name

Houston Chronicle


Anticipated split will create two publicly traded companies.

The French half of Houston and Paris oil field service company TechnipFMC has revealed its new company name months ahead of an anticipated split that will create two publicly traded …

October 30, 2019 - 7:15 am Closing Bell Story‎, Energy News, LNG, Offshore, Oilfield Services
Alaska Is the Biggest Bet Yet for Texas’s Anti-Shale Oil Billionaire

Alaska Is the Biggest Bet Yet for Texas’s Anti-Shale Oil Billionaire

From Bloomberg


Hildebrand gained fortune buying old, conventional oil assets, bet may be timely as investors begin to sour on shale

Texas oilman Jeffery Hildebrand became a billionaire by shunning the shale revolution taking place in his home state. Now, …

President and CEO of Panhandle Oil and Gas Resigns

President and CEO of Panhandle Oil and Gas Resigns

By Tyler Losier, Energy Reporter, Oil & Gas 360

Paul F. Blanchard Jr. steps down as president, CEO and director of Panhandle Oil and Gas
Panhandle Oil and Gas (stock ticker: PHX), a mineral and leasehold acreage-focused capital allocator, has

Equinor Site Remains Shut In Following Drilling Rig Fire in Karnes County

Equinor Site Remains Shut In Following Drilling Rig Fire in Karnes County

From The Houston Chronicle


A natural gas well belonging to the Norwegian oil giant Equinor remains shut in following a weekend fire at one of its drilling sites in Karnes County.

The fire happened at Equinor’s Neller-Runge 1-Runge 2 lease …

Source: Comstock Resources

Ronald Mills Appointed VP of Finance and Investor Relations at Comstock Resources

By Tyler Losier, Energy Reporter, Oil & Gas 360

Comstock Resources appoints Johnson & Rice alum Ronald Mills as its new VP of finance and investor relations
Comstock Resources Inc. (stock ticker: CRK), an independent E&P based out of Frisco,

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

From Reuters


In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow.

School officials had expected …

U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

From Reuters


Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs.

The United States imposed tariffs on imported …

Source: Crestwood Equity Partners

Crestwood Bolsters its Midstream Assets in the Bakken

By Tyler Losier, Energy Reporter, Oil & Gas 360

Commercial operations begin at the Bear Den II processing plant
Crestwood Equity Partners LP (stock ticker: CEQP), a Houston-based master limited partnership, has begun commercial operations at its Bear Den II

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

U.S. Shale Oil Output to Rise to Record 8.77 Million bpd in Sept – EIA

U.S. Shale Oil Output to Rise to Record 8.77 Million bpd in Sept – EIA

From Reuters


U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report …

New U.S. Pipelines Poised to Start Price War for Shale Shippers

New U.S. Pipelines Poised to Start Price War for Shale Shippers

From Reuters


The operators of two new pipelines in West Texas shale fields are offering discounted prices to attract shippers accustomed to high fees to move oil to export hubs, according to the pipeline companies and federal filings.

These bargain …

Marathon Oil Profit Jumps 50% on Higher U.S. Shale Production

Marathon Oil Profit Jumps 50% on Higher U.S. Shale Production

From Reuters


Marathon Oil Corp (MRO.N) reported a 50% jump in quarterly adjusted profit on Wednesday, as higher U.S. shale output countered lower realized crude prices and production costs fell.

The company, like many other U.S. oil producers, is extracting …

Enbridge to Keep Kentucky Gas Pipe Shut for at Least a Week After Blast

Enbridge to Keep Kentucky Gas Pipe Shut for at Least a Week After Blast

From Reuters


Canadian energy company Enbridge Inc said the section of its Texas Eastern pipeline in Kentucky that exploded on Thursday, killing one person, will remain shut through at least Aug. 12.

Enbridge said in a notice to customers Monday …

Source: Ithaca Energy Limited

Exxon Mobil Profit Sinks, Chevron Rises as Both Boost Output

From Reuters


Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), the two reported on Friday.

Exxon’s topped analysts’ reduced estimates for the quarter but net …

Occidental and Ecopetrol Team Up in the Midland

Occidental and Ecopetrol Team Up in the Midland

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin
Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture

Source: Solaris Water Midstream

Concho Resources and Solaris Water Form JV in the Delaware Basin

By Tyler Losier, Energy Reporter, Oil & Gas 360

Concho Resources and Solaris Water Midstream team up for produced water management in the northern Delaware Basin
Concho Resources (stock ticker: CXO), a Permian-focused unconventional shale producer, has formed a strategic

Source: Occidental Petroleum

Occidental Petroleum Profit Falls on Low Gas Prices, Derivative Contracts

From Reuters


Occidental Petroleum Corp, which is battling activist investor Carl Icahn over its $38 billion purchase of Anadarko Petroleum, reported a 14% fall in core profit on Wednesday, as higher crude prices and volumes were offset by adjustments to …

ConocoPhillips Profit Misses on Lower Crude Prices, Higher Spending

ConocoPhillips Profit Misses on Lower Crude Prices, Higher Spending

From Reuters


ConocoPhillips (COP.N) missed Wall Street estimates for quarterly profit on Tuesday as it spent more than expected and took a hit from lower crude prices due to fears of a slowing global economy.

The OPEC and …

Texas Shale Pioneers Struggle to Appease Investors

Texas Shale Pioneers Struggle to Appease Investors

From Reuters


Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas.

Like dozens of other Permian startups, the firm then pursued a classic wildcatter’s strategy – borrowing …

Japan’s Osaka Gas to Acquire Haynesville Shale-Focused American E&P

Japan’s Osaka Gas to Acquire Haynesville Shale-Focused American E&P

By Tyler Losier, Energy Reporter, Oil & Gas 360

Japanese company Osaka Gas to acquire Texas-based Sabine Oil & Gas Corporation
Osaka Gas, a vertically integrated Japanese energy company, has entered into a definitive agreement with Houston-based Sabine Oil &

Argentina’s June Gas Production Hits Highest Level in 11 Years

Argentina’s June Gas Production Hits Highest Level in 11 Years

From Reuters


Argentina’s gas production rose to 140 million cubic meters a day in June, the highest level in 11 years, the government said on Saturday.

That amount represented growth of 5.8% compared with the same period last year.

Argentina’s …

Excelerate Energy’s EXCALIBUR LNG carrier (source: PR Newswire)

YPF Partners with Excelerate on LNG Exports

By Tyler Losier, Energy Reporter, Oil & Gas 360

YPF S.A. reaches preliminary agreement with Excelerate Energy to charter LNG carrier
YPF S.A., the state-operated oil company of Argentina, has reached a preliminary agreement with Excelerate Energy, a U.S.-based LNG

Source: Lime Rock Resources

Buyer Revealed in Range’s $634 Million Appalachian Asset Sale

By Tyler Losier, Energy Reporter, Oil & Gas 360

Lime Rock Resources purchases 350,000 net surface acres of overriding royalty interests from Range Resources Corporation

Lime Rock Resources, the E&P arm of private equity firm Lime Rock Partners, has closed

Source: Wintershall Dea

Wintershall Partners with ConocoPhillips in Argentina’s Vaca Muerta

By Tyler Losier, Energy Reporter, Oil & Gas 360

German E&P Wintershall Dea teams up with ConocoPhillips to develop Argentina’s Neuquén Basin
Wintershall Dea, a German-based E&P with a global asset portfolio, has signed a sales and purchase agreement (SPA)

Oil & Gas 360 - KLX Energy Services Completes Motley Acquisition frac truck

Job Cuts Expected at NOV Amid Ongoing Oil & Gas Industry Slump

From The Houston Chronicle


Job cuts are expected at Houston oilfield service company National Oilwell Varco following the implementation of a company restructuring plan created in response to an ongoing industry slump in the U.S. shale basins.

The drilling and …

Source: Freeport LNG

Freeport LNG Train 1 Reaches Final Commissioning Stage

By Tyler Losier, Energy Reporter, Oil & Gas 360

Facility will be able to produce a total of 2.2 Bcf per day upon completion
Train 1 of the Freeport LNG project, located on Quintana Island in Freeport, Texas, has reached

Source: Sundance Energy

Sundance Energy Divests ~$30 Million Worth of Texas Assets

By Tyler Losier, Energy Reporter, Oil & Gas 360

Sundance Energy sells Dimmit county assets for $29.5 Million
Sundance Energy Australia Limited (stock ticker: SNDE), along with its wholly-owned Denver-based subsidiary Sundance Energy Inc., has entered into a definitive agreement

The Permian Oil Boom Is Showing Signs of Overheating

The Permian Oil Boom Is Showing Signs of Overheating

Shortages of sand, pipelines, and manpower could jeopardize America’s future as an energy superpower

At 10:30 p.m. on an 85F August night in Penwell, in West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in …

Source: Callon Petroleum

Upstream Oil Merger: Callon Acquires Carrizo in $3.2 Billion Texas Combo

By Tyler Losier, Energy Reporter, Oil & Gas 360

Callon adds oil-weighted assets in the Permian and Eagle Ford through all-stock transaction
Callon Petroleum Company (stock ticker: CPE), an independent E&P focused on unconventional assets in the Permian, has struck

What Energy Security Looks Like: 90% of Natural Gas Used in U.S. Is Produced Domestically

What Energy Security Looks Like: 90% of Natural Gas Used in U.S. Is Produced Domestically

By Tyler Losier, Energy Reporter, Oil & Gas 360


The United States has been a net exporter of natural gas since 2017

In the United States, natural gas is one of the most prevalent sources of energy, and according to