Post Tagged with: "Texas"

Source: Citgo

CITGO Board Appoints Former Venezuelan Oil Executive as CEO

From The Houston Chronicle


CITGO’s board of directors has appointed former Venezuelan oil executive Carlos Jorda as CEO of the embattled Houston refining company.

In a statement released on Wednesday morning, the company’s board reported that the year-long search for …

Source: Citgo

Citgo to Appoint New CEO to Navigate Political, Legal Turmoil – Sources

From Reuters


Citgo Petroleum Corp has selected Carlos Jorda as its next chief executive, according to three people familiar with the matter, turning to a seasoned refinery expert and native Venezuelan to run a company facing legal attacks and working …

Source: QEP Resources

Anvil Capital Partners Provides Funding for Two Companies

By Tyler Losier, Energy Reporter, Oil & Gas 360

Vermilion Cliffs Partners gets $11 million senior secured loan facility
On Monday, Anvil Capital Partners, a private credit special situations lending firm, announced the final close of an $11 million senior

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 …

Halliburton Lands Nine Contracts for Offshore Project in West Africa

Halliburton Lands Nine Contracts for Offshore Project in West Africa

From The Houston Chronicle


Houston oilfield service company Halliburton has landed nine contracts to drill and complete a series of wells off the coast in West Africa.

Australian exploration and production company Woodside Energy awarded the contracts to Halliburton as …

Source: Summit Midstream Partners LP

Summit Midstream Appoints New President and CEO

By Tyler Losier, Energy Reporter, Oil & Gas 360

Summit Midstream Partners appoints J. Heath Deneke as president, CEO and board member
Summit Midstream Partners LP (stock ticker: SMLP), a master limited partnership located in The Woodlands, Texas, has appointed

Source: Oryx Midstream Services

Oryx Midstream Lands $550 Million from Qatar Investment Authority

By Tyler Losier, Energy Reporter, Oil & Gas 360

Qatar Investment Authority acquires significant stake in Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners
Qatar Investment Authority (QIA), the country’s sovereign wealth fund, will be acquiring a significant

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

From Reuters


Oil prices tumbled more than 4.5% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington’s escalating trade war with Beijing.…

Black Bear Midstream Enters into Gas Gathering and Processing Agreement

Black Bear Midstream Enters into Gas Gathering and Processing Agreement

By Tyler Losier, Energy Reporter, Oil & Gas 360

Black Bear Midstream enters into seven-year agreement with undisclosed Cotton Valley producer
Black Bear Midstream, a portfolio company of Oaktree Capital Management (stock ticker: OAK), has entered into a seven-year gas

Texas oil production - Oil & Gas 360

Texas Power Prices Triple as Heat Wave Expected to Boost Demand to Record Highs

From Reuters


Spot power prices in Texas almost tripled for Tuesday on forecasts demand for electricity would hit record levels over the next week as consumers crank up their air conditioners to escape a heat wave blanketing much of the …

Source: Salt Creek Midstream

Salt Creek Midstream Subsidiary Announces Open Season in the Delaware

By Tyler Losier, Energy Reporter, Oil & Gas 360

SCM Crude LLC to solicit binding commitments for interstate gathering and transportation
SCM Crude LLC, a wholly-owned subsidiary of Salt Creek Midstream LLC, will begin to solicit binding commitments for priority

Source: Amplify Energy

Shareholders of Amplify Energy and Midstates Petroleum Greenlight Merger

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

Alliance Resource Partners Completes Acquisition of Permian Mineral Interests

Alliance Resource Partners Completes Acquisition of Permian Mineral Interests

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

Audio: Interview with Texas Standard Oil President Tim Roberson – an Oil & Gas 360 Exclusive

Audio: Interview with Texas Standard Oil President Tim Roberson – an Oil & Gas 360 Exclusive

By Tyler Losier, Energy Reporter, Oil & Gas 360


Texas Standard Oil LLC

Texas Standard Oil LLC is a private Midland, Texas-based oil company focused on acquiring oil and gas leaseholds in the Wolfcamp shale play of the Permian Basin. …

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

Texas County Sues Exxon Over Air Pollution from Petrochemical Fire – Official

Texas County Sues Exxon Over Air Pollution from Petrochemical Fire – Official

From Reuters


Harris County, Texas sued Exxon Mobil Corp on Thursday over pollution from a fire a day earlier at the company’s Baytown Olefins Plant, according to an attorney for the county.

The fire was being investigated by federal and …

Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8

Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8

From The Houston Chronicle


Occidental Petroleum reported a $635 million quarterly profit that dipped 25 percent from the year prior, but the focus still remains on Oxy’s $38 billion acquisition of Anadarko Petroleum that could close in August.

Houston-based Oxy …

Source: Goodnight Midstream

Altus Midstream Acquires Stake in Shin Oak Pipeline

By Tyler Losier, Energy Reporter, Oil & Gas 360

Altus Midstream closes purchase of 33% equity stake in Enterprise-owned Shin Oak Pipeline
Altus Midstream (stock ticker: ALTM), a pure-play Permian-to-Gulf Coast midstream company, has closed a deal with Enterprise Products

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 …

Harvest Oil & Gas Divests Barnett Shale

Harvest Oil & Gas Divests Barnett Shale

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

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

National Oilwell Varco Posts Nearly $5.4 Billion Loss During Second Quarter

From The Houston Chronicle


Houston oilfield service company National Oilwell Varco reported a multibillion loss during the second quarter amid what executives are calling a “generational oilfield downturn.”

NOV reported a nearly $5.39 billion loss on $2.13 billion of revenue …

Centrica CEO to Step Down; Sell Oil and Gas Business

Centrica CEO to Step Down; Sell Oil and Gas Business

From The Houston Chronicle


The top executive of British-owned Centrica, owner of Direct Energy, will be stepping down after what the company describes as an exceptionally challenging six months which included outages at its nuclear sites, pension deficits and low …

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 &

Permian Producers May Need to Spend More or Consider Mergers

Permian Producers May Need to Spend More or Consider Mergers

From The Houston Chronicle


As the sweet spots of the booming Permian Basin are drilled, oil companies will need to either spend more money or consider mergers and acquisitions to keep up their crude production volumes, according to the energy …

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 …

New VP of Investor Relations at Baker Hughes

New VP of Investor Relations at Baker Hughes

By Tyler Losier, Energy Reporter, Oil & Gas 360

Jud Bailey named vice president of investor relations at Baker Hughes General Electric
Baker Hughes (stock ticker: BHGE), an oilfield services company owned by General Electric (stock ticker: GE), has appointed

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

Halliburton Cuts 8% of North American Jobs in Frack Slowdown

Halliburton Cuts 8% of North American Jobs in Frack Slowdown

From Bloomberg


Company executing new ‘playbook’ to deal with customer changes, shale producers are trimming spending amid investor pressure

Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by trimming 8% of its North …