Friday, January 31, 2025

PetroQuest Energy Announces $280 Million Sell-Down Of Arkoma Assets; Updates Borrowing Base, Operations And Production And Cost Guidance

PetroQuest Energy, Inc. (NYSE: PQ) today announced the closing of the sale of the majority of its interests in the Woodford and Mississippian Lime (the “Sold Assets”) for gross proceeds of $280 million, subject to estimated purchase price adjustments between the effective date of January 1, 2015 and the closing date.  During the first quarter of 2015, the Sold Assets

Apache Corporation Completes Sale of Australian Operations

Apache Corporation (NYSE, Nasdaq: APA) today announced it has completed the previously disclosed sale of its Australian subsidiary Apache Energy Limited to a consortium of private equity funds managed by Macquarie Corporate Holdings Limited and Brookfield Asset Management Inc. (BAM) (BAM-A.TO) (BAMA.NX). Total proceeds of $1.9 billion are net of $225 million in customary, post-closing adjustments for the period between

OPEC Breakeven Costs by Country

Article and Analysis by Bloomberg The Organization of Petroleum Exporting Countries will stick to its strategy of favoring market share over prices when it meets in Vienna on June 5. That means the 12 nations will maintain a group production target of 30 million barrels a day, according to all but one of 34 traders and analysts surveyed by Bloomberg

Crude Oil Recovery: A Take from Plains All American

Plains All American Pipeline (ticker: PAA) and its general partner, Plains GP Holdings (ticker: PAGP), held their 2015 Analyst Day in New York on June 4. The consortium began its presentation by reflecting on a section from its 2014 Analyst Day, titled “Planning for Continued Industry Growth; Preparing for Periodic Disruptions; Positioned to Deliver Solid Results in Either Environment.” Disruptions

Rig Counts Down 37 in the Last Month

Baker Hughes rig count for the week ended June 5, 2015 Rig counts fell to 868 in the first week of June, down 37 from the first of May when the total number of rigs in the U.S. numbered 905, according to the most recent rig count from Baker Hughes. The active rig count fell by about 1% again this

Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says - Oil&Gas360

No Surprises from OPEC

The 12 country cartel decides to maintain production—as expected As many experts predicted, OPEC decided to maintain its production ceiling at 30 million barrels per day (MMBOPD) at its June 5 meeting held in Vienna Austria. Brent and West Texas Intermediate crude oil prices both fell 1% following the news, according to a note from Baird Equity Research. In OPEC’s

Hey Ladies, The Oil & Gas Industry Wants You

Story by CBS 4 Denver Colorado’s oil and gas industry says it will need to fill tens of thousands of jobs over the next decade as the industry grows and people retire, and it hopes to fill many of those positions with women. The industry is now making a pitch to girls as young as 11. Bentley says women make

Commentary: The EPA Fracking Miracle

Opinion Piece by The Wall Street Journal So even the Environmental Protection Agency now concedes that fracking is safe, which won’t surprise anyone familiar with the reality of unconventional oil and natural gas drilling in the U.S. But if no less than the EPA is saying this, then the political opposition doesn’t have much of a case left. “We did