November 12, 2014 – Oil & Gas 360

Enterprise Products Partners Takes Final Step in $6 Billion Merger with Oiltanking Partners

November 12, 2014

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

Cash-Strapped School District Turns to Natural Gas Drilling for Funding

November 12, 2014

District will receive $500,000 up-front payment if gas is found beneath the school property, then 17% royalties Pittsburgh’s East Allegheny School District gave the thumbs up to natural gas drilling on middle school property to raise much needed funds for education, KDKA Television reported yesterday. Under the lease agreement, EQT Corporation (ticker: EQT) will explore 170 acres owned by the

VAALCO Energy: First Production from New Offshore Pads Expected by Year-End 2014

November 12, 2014

VAALCO Energy, Inc. (ticker: EGY) reported net income of $3.1 million ($0.05 per diluted share) in its Q3’14 earnings release, but the company is already anticipating results for the fourth quarter. The independent energy company based in Houston, Texas, is escalating its operations across the Atlantic Ocean in West Africa and expects near-term catalysts to be reflected on its year-end

Clayton Williams Energy Announces Strategic Farmout Agreement Covering the Western Portion of Its Reeves County Wolfcamp Position

November 12, 2014

Clayton Williams Energy, Inc. (NYSE: CWEI)today announced that it had entered into a farmout and exploration agreement with Caza Oil and Gas, Inc. (“Caza”) (CAZ.TO) (CAZA.L) covering a portion of the Company’s 71,000 net acre resource play in Reeves County, Texas. All of the approximate 15,000 net undeveloped acres covered by this agreement are located along the western flank of

Canada: On Track for 2015 Surplus, Despite Low Oil Prices

November 12, 2014

Nation’s fiscal update points to promising growth during the next 5 years Canada’s fall fiscal update was released and it shows promising growth for the country, despite the 25% drop in the price of oil since July of this year. The decline of crude oil prices due to lower demand and oversupply drove the Department of Finance total commodity index

ZaZa Energy Reports 2014 Third Quarter and Nine Month Financial and Operational Results

November 12, 2014

ZaZa Energy Corporation (the “Company” or “ZaZa”) (ZAZA) today announced results for its third quarter and for the nine months ended September 30, 2014. Financial Highlights for Third Quarter 2014 Total production of 54.8 MBOE, a year-over-year increase of 145%. Revenues of $2.7 million, a year-over-year increase of 144%. Total operating expenses declined by ~60%; G&A declined by ~30%. Net income of $10.1

Acorn Energy Announces Third Quarter and Nine Month 2014 Results

November 12, 2014

Acorn Energy, Inc. (ACFN), today announced the results for the third quarter and nine-month periods ended September 30, 2014. For the third quarter ended September 30, 2014, revenues were $5.6 million compared to $5.0 million in the third quarter of 2013. The net loss for the third quarter 2014 was $3.8 million vs. $12.3 million in the comparable 2013 period,

Saudi minister: It’s all a ‘misunderstanding,’ no ‘price war’ talk

November 12, 2014

Story by CNBC Saudi Arabia’s oil minister publicly knocked talk of an OPEC “price war” but did little in the way of clarifying what the cartel will do about falling prices. Ali al-Naimi, speaking in Mexico, said Saudi oil policy is not changing and has been stable for decades. He said the market, not Saudi Arabia, sets prices, and that

Increased Shale Gas Production Will Supply Bulk of U.S. LNG Export Demand, EIA Concludes

November 12, 2014

Increased natural gas production is projected to satisfy 60% to 80% of a potential increase in demand for added liquefied natural gas (LNG) exports from the Lower 48 states, according to recently released EIA report. The report, Effect of Increased Levels of Liquefied Natural Gas Exports on U.S. Energy Market, considered the long-term effects of several LNG export scenarios specified by

India Seeks to Increase Natural Gas Production by 75%

November 12, 2014

India’s ONGC Limited poised to become major international player India’s Petroleum Ministry has forecast an estimated 75% increase in natural gas production over the next five years, according to a Mining Weekly article. Currently, India’s gas production is around 100 million standard cubic meters a day, but India’s Petroleum Ministry expects to be producing between 163 million and 175 million standard

Premium Content