As indicated by EnerCom’s Natural Gas Roundup inventory report, gas levels fell in line with five year averages for the first time in nearly a full calendar year in the report issued on December 12, 2014. Storage levels were as much as 33% below the five year average in March, but a cooler summer, record injections and forecasts for a
Down more than 50% Year to Date Oil and gas companies are tightening the purse strings for 2015, as several news releases on guidance are showing capex declines of 20% or more. Commodity hedges may protect most companies from further capital deterioration for the time being, but repercussions from the oil price collapse will be truly felt once the hedge
Rice Energy (ticker: RICE), an independent E&P focused purely in the Appalachia, commenced an initial public offering (IPO) for its midstream unit on December 17, 2014. Rice Midstream Partners LP will trade on the New York Stock Exchange under the ticker RMP. Rice was a privately held company less than one year ago and now has two entities listed on
Dropping Oil Prices = Changing Landscape for E&Ps, Midstream, OilService Companies At last week’s 2014 Energy Symposium hosted by Wells Fargo Securities at the Waldorf Astoria, the sentiment expressed by the energy companies was far different from what had been coming out of similar meetings before a global oil price slide which began in the summer of 2014. Midstream companies presenting at
Capital One Securities is extending its research coverage to the MLP/Energy – Midstream sector, the firm announced in a December 4, 2014 note. Coverage was initiated on ten companies in the MLP / Energy-Midstream sphere, with six receiving an “Outperform” rating. MLPs and the Dynamic Market Capital One began its note detailing the current energy environment in the current sub-$70
Oil & Gas 360® has posted new Q3 profiles and downloadable company analytics tearsheets for 31 E&Ps and Oilservice companies. Company summaries, stock performance data and news release archives may be found on the Oil & Gas 360® home page by rolling your mouse over the company names within the “360 Profiles” section. A two-page financial and operational analytics tearsheet
Resolute Energy Corp. (ticker: REN) is an exploration and production company with producing assets in the Permian Basin (Texas), the Hilight Field of the Powder River Basin (Wyoming) and the Aneth Field of the Paradox Basin (Utah). REN is developing its assets through horizontal drilling, resulting in a 10% production increase for the trailing twelve months ended September 30, 2014
The oilservice provider that keeps on giving. SunTrust Robinson Humphrey has initiated coverage on Core Laboratories (ticker: CLB), the company said in a research note on November 20, 2014. A total of 18 firms now cover the company, with four in Europe and 14 in the United States. Eleven of the companies recommend CLB as a “Buy” or are Market/Sector
In November’s “Energy Industry Data and Trends,” EnerCom Consulting’s monthly report to subscribers that was issued Nov. 14, the analysts looked closely at well economics as management and directors of oil and gas companies across the industry prepare for board meetings. No question, the season’s hottest topic is what to do with capital budgets for the coming year. The EnerCom
Enterprise Products Partners (ticker: EPD), the largest Limited Partnership listed on EnerCom’s MLP Scorecard, has announced Phase Two of the acquisition of Oiltanking Partners (ticker: OILT) in a unit-for-unit merger agreement. Per the agreement, OILT shareholders will receive a 30% premium on EPD shares. Total consideration for the transaction is $6.0 billion, including the $4.6 billion acquisition ($2.2 billion in
Canada is home to a large number of public companies that are developing hydrocarbon resources on both sides of the border. In this series, Oil & Gas 360® takes a closer look at some of the promising operators in Canada’s E&P space. Canada’s Economy Canada’s GDP growth has outperformed the U.S. in four of the past five years, and growth of
Oil & Gas 360®’s chart of the week points to the differences in the average number of days to acquire a permit to drill on federal lands vs. various states. The Feds require 45 times longer to issue a permit than the State of Texas. Federal permitting time increased by almost 50% between 2005 and 2012. Congressman Fred Upton offered
