Today’s News

OPEC: Too Close to Call - Oil & Gas 360

OPEC Makes Changes, Just Not the Ones We Were Hoping to See

No cuts, no ceilings, but new secretary general is elected – OPEC

The biannual OPEC meeting in Vienna today has come and gone, but OPEC’s policy of defending market share remains. Reports indicated earlier in the week that the group

Russia Performing Better in May

Russia Performing Better in May

In a 7-2 victory over the U.S., Russia took the bronze medal in the world ice hockey championships on May 22. The victory over the team from the United States marked the third time in four years the U.S. has …

Nighthawk Energy Proposes Pilot Waterflood Project

Nighthawk Energy Proposes Pilot Waterflood Project

Amendment to Arikaree Water Flood Enhanced Oil Recovery Project in Eastern Colorado

In an effort to expedite its previously approved larger waterflood project for its Arikaree field asset in eastern Colorado, Nighthawk Energy (ticker: HAWK / NHEGY) filed an amendment …

The Wave Will End – Having a Next Act is What Matters: Microsoft CEO Nadella

From Puget Sound Business Journal

Microsoft CEO Lays Out His Vision for the Company’s Future

Microsoft CEO Satya Nadella said the Redmond company is preparing for “the next act” while working to stay true to its sense of identity.

After …

May 3, 2016 - 3:38 pm Closing Bell Story‎, Energy News, Today's News
EQT Snaps Up $407 Million of Statoil’s Marcellus Core Acreage

EQT Snaps Up $407 Million of Statoil’s Marcellus Core Acreage

Acquisition adds 500 undeveloped locations expected to have average laterals of 5,600 feet; Opens deep Utica opportunity; Resource Potential of the new acreage is estimated at 9.2 Tcf of Natural Gas

EQT Corporation (ticker: EQT) announced it will acquire …

Range Resources’ Q1 2016 Financial, Operations, Marketing Results

Range Resources’ Q1 2016 Financial, Operations, Marketing Results

Range Resources Q1 2016 Results

Range Resources Corporation (ticker: RRC) reported its Q1 2016 earnings . Following are highlights from  the quarter with a conference call recap.

Q1 Highlights

  • Unit costs reduced by 10%, or $0.29 per mcfe compared to
TransCanada Reports Solid First Quarter 2016 Financial Results

TransCanada Reports Solid First Quarter 2016 Financial Results

Transformational Changes Position Company for Near- and Long-Term Growth

CALGARY, ALBERTA–(Marketwired – April 29, 2016) – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced net income attributable to common shares for first quarter 2016 of $252 million or $0.36 per share

Occidental Petroleum Names Vicki A. Hollub Chief Executive Officer

Occidental Petroleum Names Vicki A. Hollub Chief Executive Officer

HOUSTON–(BUSINESS WIRE)–Occidental Petroleum Corporation (NYSE: OXY) announced today that its Board of Directors has named Vicki A. Hollub the company’s President and Chief Executive Officer, completing the previously disclosed succession plan. Ms. Hollub succeeds Stephen I. Chazen, …

April 29, 2016 - 4:16 pm Closing Bell Story‎, Energy News, People, Today's News
U.S. Energy Consumption: Oil and Gas are Still King at 62% of the Market

U.S. Energy Consumption: Oil and Gas are Still King at 62% of the Market

Primary Energy Consumption by Source and Sector – 2014

 

This graphic from the EIA helps visualize some of the data leaking out of the agency’s massive knowledge vault. In their measure for total U.S. energy consumption in 2014, they …

EnerCom Named One of America’s Best Management Consulting Firms by Forbes Magazine

EnerCom Named One of America’s Best Management Consulting Firms by Forbes Magazine

EnerCom: 22 years of advising and serving energy-centric clients

DENVER – April 29, 2016 – Forbes Magazine (Forbes) commissioned an independent study by Statista to identify America’s Best Management Consulting Firms.  EnerCom, Inc. was recognized in the inaugural study in …

Wind v. Natural Gas

Wind v. Natural Gas

Wind v. natural gas. Is it a race? To create electricity you need fuel. So you have to harvest naturally occurring resources—either the ones that exist above ground or the ones that exist underground. The underground resources—the legacy ‘go-to’ fuels …

MPLX LP Reports First Quarter 2016 Financial Results

MPLX LP Reports First Quarter 2016 Financial Results

  • Reported first-quarter adjusted EBITDA of $302 million; distributable cash flow of $236 million
  • Declared distribution of $0.505 per common unit, a 23 percent increase over first-quarter 2015
  • Announced a $1 billion private placement of convertible preferred securities with third-party investors
Marathon Petroleum Corporation Reports First Quarter 2016 Results

Marathon Petroleum Corporation Reports First Quarter 2016 Results

  • Reported first-quarter earnings of $1 million
  • Results include pretax charges of $0.06 per diluted share related to the impairment of goodwill and the valuation of inventories at the lower of cost or market
  • Completed major turnaround activity and refinery light
Pioneer Natural Resources First Quarter 2016 Financial and Operating Results

Pioneer Natural Resources First Quarter 2016 Financial and Operating Results

DALLAS–(BUSINESS WIRE)–Apr. 25, 2016– Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today reported financial and operating results for the quarter ended March 31, 2016.

Pioneer reported a first quarter net loss attributable to common stockholders of $267 million, …

EQT Reports First Quarter 2016 Earnings

EQT Reports First Quarter 2016 Earnings

NYSE: EQT; NYSE: EQM; NYSE: EQGP

PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE: EQT) today announced first quarter 2016 net income attributable to EQT of $5.6 million, or $0.04 per diluted share (EPS), compared to earnings of $173.4 million, or $1.14

QEP Resources Reports First Quarter 2016 Financial and Operating Results

QEP Resources Reports First Quarter 2016 Financial and Operating Results

QEP Resources Reports First Quarter 2016 Financial and Operating Results
  • Reduced capital expenditures by over 30% compared with fourth quarter 2015
  • Delivered record crude oil production of 56,900 barrels per day
  • Completed four gross operated Spraberry Shale wells with an
Antero Resources Reports First Quarter 2016 Financial Results and Increases Production Guidance

Antero Resources Reports First Quarter 2016 Financial Results and Increases Production Guidance

DENVER, April 27, 2016 /PRNewswire/ — Antero Resources Corporation (NYSE: AR) (“Antero” or the “Company”) today released its first quarter 2016 financial results and announced increased 2016 production guidance. The relevant consolidated financial statements are included in Antero’s Quarterly Report …

Whiting Petroleum Corporation Announces First Quarter 2016 Financial and Operating Results

Whiting Petroleum Corporation Announces First Quarter 2016 Financial and Operating Results

Whiting Petroleum Corporation Announces First Quarter 2016 Financial and Operating Results

  • Q1 2016 Production Averaged 146,770 BOE/d
  • Entered into a Participation Agreement in Williston Basin
  • Enhanced Completions in Williston Basin Increase Productivity Over 100% in Williams County Wells
  • New Drilling
Hatch, Barrasso and Enzi Introduce Senate Bill to Stop Frac Regulation Duplicity

Energy Wins: Ted Cruz Picks Carly Fiorina as VP Running Mate

Both support fracing, expansion of drilling on federal lands, ending federal government over-regulation

It was announced by the Cruz campaign today. If the combination of Texas Senator Ted Cruz with former Hewlett Packard CEO Carly Fiorina as his VP …

Completion Evolution Improving Capital Intensity for Pioneer Natural Resources: KLR

Completion Evolution Improving Capital Intensity for Pioneer Natural Resources: KLR

From KLR Group – April 27, 2016

 

Pioneer Natural Resources  (PXD) Completion Evolution Improving Capital Intensity 

Price Target: $168.00
Price: $165.36
Investment thesis

KLR is increasing its target price $3 to $168 per share due to a ~2.5% decrease

Oil prices turned firmly lower during midday trading on Tuesday. Crude futures were little changed earlier in the session, depressed by a report of record Saudi production but supported by expectations that oil exporters would agree to cut output at an OPEC meeting next week. Oil & Gas 360

India’s ONGC to Drill 17 Shale Exploratory Wells

Going after India’s Estimated 63 Tcf of shale gas

From the Business Standard

India’s State-owned Limited is planning to explore as many as 17 shale gas and oil wells in both east and west coasts with an investment of …

Changing of the Guard: 10 Energy Policymakers to Watch

Changing of the Guard: 10 Energy Policymakers to Watch

From The Hill

A changing of the guard is underway in the energy and environment arena. A new generation of lawmakers, lobbyists, advocates and staffers is making its presence felt, bringing novel ideas and enthusiasm to the policy battles shaping …

April 26, 2016 - 5:31 pm Closing Bell Story‎, Energy News, Regulatory, Today's News
ADNOC, Occidental Petroleum Open World’s Largest Ultra Sour Gas Project

ADNOC, Occidental Petroleum Open World’s Largest Ultra Sour Gas Project

Occidental would like to expand the Al Hosn Gas project: Hollub

ADNOC has a 60% share in Al Hosn Gas; Occidental Petroleum has 40%

PR Newswire – ADNOC inaugurated the Al Hosn Sour Gas Development Project, the largest of its …

April 26, 2016 - 3:09 pm Closing Bell Story‎, Midstream, OPEC, Today's News
Canada Expects to Export Less NatGas to U.S., Send More LNG Abroad

Canada Expects to Export Less NatGas to U.S., Send More LNG Abroad

From EIA

graph of Canadian natural gas production, demand, and exports, as explained in the article text


In its recent publication, Canada’s Energy Future (CEF), Canada’s National Energy Board (NEB) projects that both …

April 26, 2016 - 12:52 pm Canada, Closing Bell Story‎, Energy News, LNG, Today's News
American Midstream Partners Expands Gulf of Mexico Footprint with $225 Million Acquisition

American Midstream Partners Expands Gulf of Mexico Footprint with $225 Million Acquisition

DENVER–(BUSINESS WIRE)– American Midstream Partners, LP (NYSE: AMID) (the “Partnership”) today announced the acquisition of interests in strategic Gulf of Mexico midstream infrastructure and incremental ownership in Delta House for total consideration of approximately $225 million.

Oil & Gas 360 American Midstream acquisition

Highlights include:

  • The Partnership