Husky Energy Begins Steam Operations at Rush Lake Husky Energy (HSE.TO) has started commercial steam operations at the 10,000 barrels per day (bbls/day) Rush Lake heavy oil thermal project in Saskatchewan, approximately eight weeks ahead of schedule. Like the Company’s other thermal projects, Rush Lake is expected to ramp up to full production in a short time period. “Rush Lake
Bellatrix Announces Closing of Private Offering of US$250 Million of Senior Notes Due 2020 Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX, NYSE: BXE) is pleased to announce that it has closed its private offering of US$250 million of 8.500% senior unsecured notes due 2020 (the “notes”). Bellatrix intends to use the net proceeds from the note offering to partially
Companies Hope to Strengthen Relationship On May 20, 2015, Halliburton (ticker: HAL) and BP plc (ticker: BP) announced a mutual agreement to resolve remaining issues relating to charges and indemnities from the Deepwater Horizon disaster. The incident occurred 61 months ago to the day. In a company press release, Dave Lesar, Chairman and Chief Executive Officer of HAL, referred to
Enable Midstream Announces Completion of Initial Phase of Nesson Crude Oil and Produced Water Gathering System in the Bakken Enable Midstream Partners, LP (ENBL) announced today that the first phase of its Nesson Crude & Produced Water Gathering System is operational. The pipeline serves wells located in Williams and Mountrail Counties of North Dakota, in the prolific Bakken shale play.
Legacy Reserves LP Declares Preferred Distributions Legacy Reserves LP (“Legacy”) (LGCY) today announced that its general partner has declared a monthly cash distribution for both its 8% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units and its 8% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units of $0.166667 per unit payable on June 15, 2015 to unitholders of
Vanguard Natural Resources, LLC (VNR) (“Vanguard” or “the Company”) and Eagle Rock Energy Partners, L.P. (EROC) (“Eagle Rock”) today announced that they have entered into an Agreement and Plan of Merger pursuant to which a subsidiary of Vanguard will merge into Eagle Rock for total consideration of $474 million in Vanguard common units and the assumption of Eagle Rock’s net
Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX, NYSE: BXE) is pleased to announce that it has closed its private offering of US$250 million of 8.500% senior unsecured notes due 2020 (the “notes”). Bellatrix intends to use the net proceeds from the note offering to partially repay borrowings outstanding under its bank credit facility, thereby strengthening the Company’s capital structure
Midstates Petroleum Company, Inc. (MPO) (“Midstates” or the “Company”) announced today that it has completed a series of transactions that substantially increase its liquidity to approximately $420 million. The Company completed a private offering of Senior Secured Second Lien Notes (“Second Lien Notes”) at par with an aggregate principal amount of $625 million and an annual interest rate of 10%.
Huge Expectations, Huge Investment “If you talk about 500 million barrels, I don’t think that will cut it. It must be a multi-multi-billion barrel discovery that we have there.” After investing six years and $6 billion of its development capital, Royal Dutch Shell (ticker: RDS.A) is suddenly within earshot of obtaining final approval to begin offshore exploration for oil and
Story by Reuters President Barack Obama on Thursday moved closer to winning the power to speed trade deals through the U.S. Congress when the Senate advanced legislation important to his Asian trade push. Senators voted 62-38 to set up a speedy decision on the “fast-track” trade negotiating authority the president needs to complete the Trans-Pacific Partnership (TPP) trade deal. The
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