Story by the Chicago Tribune Ben Bernanke, former chairman of the Federal Reserve, has been named as an outside senior adviser to Citadel, the Chicago investment firm founded by billionaire Ken Griffin. The firm said Bernanke will consult with Citadel teams on monetary policy, financial markets and the global economy. In a statement, Griffin said Bernanke’s “insights on monetary policy
GPOR Offers Stock, Debt to Finance Purchase of Paloma Partners Gulfport Energy (ticker: GPOR) has increased its Utica Shale footprint to approximately 212,000 gross leased acres (208,000 net) with the purchase of 24,000 net nonproducing acres in Belmont and Jefferson Counties from Paloma Partners III, LLC. As announced in a news release on April 15, 2015, the sale has a
SM Energy Company (SM) announces that production for the first quarter of 2015 is expected to be 16.8 MMBOE, or 186.4 MBOE/d. This represents 6% sequential growth in average daily production from the fourth quarter of 2014, and exceeds the Company’s guidance. The Company also announces that the borrowing base under its senior secured revolving credit facility was maintained at
Schlumberger Limited (SLB) today reported results for the first-quarter 2015. (Stated in millions, except per share amounts) Three Months Ended Change Mar. 31, 2015 Dec. 31, 2014 Mar. 31, 2014 Sequential Year-on-year Revenue 10,248 $ 12,641 $ 11,239 -19 % -9 % Pretax operating income 1,993 2,781 2,368 -28 % -16 % Schlumberger net income, excluding charges and credits* 1,358
Stats from the Texas Railroad Commission show increased test rates in the Eagle Ford Test rates for wells located in the Eagle Ford Shale have been increasing over the last four quarters, according to information from the Texas Railroad Commission (Texas RRC). A research note from KLR Group analyzed the information from the Texas RRC and found average test rates
Not Supported by AEP Founder McClendon The latest chapter of the Aubrey McClendon/Chesapeake (ticker: CHK) saga has closed. For now. On April 14, 2015, a subsidiary of American Energy Partners (AEP) agreed to hand over 6,000 acres in Ohio and pay up to $25 million to Chesapeake, ultimately settling a lawsuit launched by the latter E&P in February. Chesapeake alleged
Rockies Express Pipeline Announces Completion of April 2015 Notes Repayment and Credit Rating Improvements Rockies Express Pipeline LLC (“REX” or “the Company”) today announced completion of the repayment of the April 15, 2015 Senior Unsecured Notes in the amount of $450 million through member cash contributions. REX also announced that it has recently received credit rating improvements from Standard &
ONEOK Declares Quarterly Dividend The board of directors of ONEOK, Inc. (OKE) today declared a quarterly dividend of 60.5 cents per share, effective for the first quarter 2015, payable May 15, 2015, to shareholders of record at the close of business April 30, 2015. The dividend remains unchanged from the previous quarter. “We continue to focus on making prudent financial
Vanguard Natural Resources, LLC Announces Four Monthly Cash Distributions Vanguard Natural Resources, LLC (VNR) (“Vanguard”) has declared a cash distribution attributable to the month of March 2015 of $0.1175 per unit ($1.41 on an annual basis) payable on May 15, 2015 to unitholders of record on May 1, 2015. Vanguard has also declared cash distributions for its 7.875% Series A
Several master limited partners have less dry powder on hand Since the beginning of April, a number of master limited partnerships (MLPs) have announced redeterminations to their borrowing bases. MLPs have been in a particularly tight spot with the fall of oil prices, leading many of their lenders to lower their borrowing base. Eagle Rock Energy Partners (ticker: EROC) announced
RMP Energy Reports First Quarter Production, Announces Start-Up of its Ante Creek Infrastructure and Provides Slick Water Completion Production Results RMP Energy Inc. (“RMP” or the “Company“) (RMP.TO) is pleased to report that during the first quarter of 2015, it achieved an average daily production level of approximately 12,250 boe/d, with light crude oil and NGLs volumes accounting for 47%
Zargon Oil & Gas Ltd. Updates Little Bow ASP Project Results, 2015 Capital Budget and Production Guidance Zargon Oil & Gas Ltd. (the “Company” or “Zargon”) (ZAR.TO) (TSX:ZAR.DB) provides a Little Bow Alkaline Surfactant Polymer (“ASP”) tertiary oil recovery project update, revises 2015 capital budget and updates the 2015 production guidance. Zargon intends to release its Q1 2015 financial results
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