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
Enterprise Products Partners L.P. (NYSE:EPD) today announced that the board of directors of its general partner has elected Craig W. Murray as Group Senior Vice President and General Counsel, Harry Paul “Hap” Weitzel as Senior Vice President and Deputy General Counsel and Vijay A. D’Cruz as Vice President, Litigation. Each of the appointments is effectiveJanuary 5, 2015. Most recently, Mr.
Energy Shares Lead Rally The Toronto Stock Exchange TSX Composite was up more than 350 points today as battered energy stocks begin to rebound and the U.S. Federal Reserve offered assurance on its interest rates. The S&P/TSX composite index jumped 355.61 points to 14,217.13, its second straight triple-digit advance as traders continued to buy stocks that were oversold during the
Source: Business News Network Canadian oil producers Husky Energy Inc and Penn West Petroleum Ltd slashed their 2015 capital budgets due to a slide in crude oil prices. Penn West (PWT.TO 8.09%), one of Canada’s largest conventional oil producers, also cut its dividend to 3 Canadian cents per share from 14 Canadian cents. Penn West and Husky join several Canadian oil
CRUDE OIL INVENTORY/’000 bbls (Week Ended 12/12/14) Current: 379,942 Actual Build/(Withdrawal): (847) Economist Average Estimate: (2,213) Previous: 380,789 Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports ANALYST COMMENTARY **All notes from 12.17.14** KLR Group Demand Demand of ~20.5 Mmbpd increased ~5.2% w/w, and the four-week moving average increased ~170 bps to
New York health officials say they will not recommend lifting the frac ban The prospects of using hydraulic fracturing to produce natural gas from the highly productive Marcellus shale basin in the state of New York now seem completely dead. New York health officials released their findings on the practice of hydraulic well stimulation, saying they believe that the long
China National Offshore Oil Corporation (CNOOC) and its partner, Husky Energy (ticker: HSE) announced that their Liuhua 34-2 offshore gas field commenced operations on December 15, 2014. The Liuhua 34-2 gas field is located in the Eastern South China Sea, approximately 300 kilometers (186 miles) southeast of the Hong Kong Special Administrative Region, with water depth ranging from 850 to
The Energy Information Administration (EIA) estimates that OPEC revenues from net oil exports will fall substantially from 2013 levels. The EIA estimates that OPEC, excluding Iran, will earn about $700 billion in revenue from exports in 2014.The forecast is a 14% decrease from 2013 earnings when the cartel earned approximately $821 billion, and the lowest earnings for the group since
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