Listed below are gas prices for the Denver, Houston and New York metropolitan areas for 2014. All have dropped roughly $1.00 on a year-over-year basis, with prices in Denver and Houston dropping by roughly 33% compared to last December and as much as 45% since the summer. Important disclosures: The information provided herein is believed to be reliable; however, EnerCom,
Falling oil prices threaten offshore oil and gas industry’s profitability in Britain’s North Sea If Brent crude, the North Sea benchmark, remains in the $60 to $70 range, at least 85% of British offshore oil and gas resources in the planning stages are at risk of being dropped, according to Wood Mackenzie. That could mean the abandonment of $27 billion
Russian oil and gas major Gazprom announces budget reductions for next year Russia’s state-owned Gazprom (ticker: OGZPY) announced its investment program and budget for 2015, cutting its capital budget substantially from 2014. With Russia reporting its first economic contraction today, it is little surprise that its oil industry giant decided to reduce spending for 2015. Russia’s Economy Ministry said gross
Petróleo Brasileiro S.A. (ticker: PBR), or Petrobras, will release its official Q3’14 financial results in January 2015 without the external auditors report from PricewaterhouseCoopers (PwC). The decision, announced on December 29, 2014, adds that PBR is “committed to releasing its third quarter accounting statements reviewed by PwC as soon as possible.” The company typically releases its third quarter results in
Coal stockpiles are improving after being depleted by cold weather and rail problems last year. Coal stockpiles increased by more than 12 million tons in October 2014, the largest build since 2011, reports the U.S. Energy Information Administration (EIA). Stockpiles at electric power plants totaled 136 million tons at the end of October, lower than in recent years for that
Breitling Energy Corporation (BECC) (the “Company”) recently announced participation in the New Wilcox Sands Project. The Company is participating in the Jackson Prospect with Frank Davis Exploration Company, a Mississippi-based exploration and production company (“FDEC”). FDEC drilled a directional well from Concordia Parish, Louisiana to Adams County, Mississippi. The Jackson Point #1 well reached total measured depth on December 23,
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