Next Up: IPO Hess Corporation (ticker: HES) has announced plans for a 50/50 joint venture (JV) consisting of its midstream assets in the Bakken Shale. The company will receive cash consideration of $2.675 billion from its partner, Global Infrastructure Partners (GIP), as part of the agreement. The full value of the deal is $5.35 billion. GIP is a private equity
Project expansions to be funded from internally generated cash flow The United States’ first liquefied natural gas (LNG) export terminal is on target for completion by year-end 2015, and its operator, Cheniere Energy (ticker: LNG) is ramping up additional operations. On June 11, 2015, Cheniere announced two additional project developments that could increase the company’s nominal production capacity by as
Dick Costolo, Twitter’s embattled chief executive, is stepping down, the company said on Thursday. Jack Dorsey, the company’s co-founder and chairman, will serve as interim chief executive while the board searches for a permanent successor. The change is effective July 1. Twitter shares were up more than 7 percent in after-hours trading immediately after the news was announced. Since Twitter’s
The EPA hopes to make nearly 10% of all transportation fuels renewables by 2016 The Environmental Protection Agency’s (EPA) recently released its annual Renewable Fuel Standard (RFS) program with goals for renewable fuels that apply to all gasoline and diesel produced or imported in 2014, 2015 and 2016. The EPA decided to lower the goals from those set earlier by
Rex Energy Announces Initial Well Results in the Moraine East Area Rex Energy Corporation (REXX) (“the company”) today announced initial production test results from the company’s first two wells in the Moraine East Area, the Renick 2H (Marcellus) and the Renick 3H (Upper Devonian Burkett). As previously announced, the company finished completion operations on the four-well Renick pad, consisting of
Story by The Canadian Press If energy companies are skittish about investing in Alberta, they’re welcome to set up shop next door, Saskatchewan’s economy minister said Wednesday. Bill Boyd said he’s been watching the political debate in neighbouring Alberta over the newly elected NDP government’s plans to review oil and gas royalties. Boyd said he’s been hearing “a fair bit
Demand to edge up as some production goes offline in 2015 The International Energy Agency (IEA) released its monthly Oil Market Report (OMR) for the month of June today, projecting stronger than anticipated global demand growth through 2015. Global demand is expected to grow at 1.7 MMBOPD for the first quarter of 2015 and 1.4 MMBOPD for the rest of
The shifting landscape of global energy 2014 marked the beginning of a new era in the oil and gas industry, said Bob Dudley, Group Chief Executive for BP’s (ticker: BP) 2015 Statistical Review of World Energy. Price volatility is nothing new to the industry, said Dudley, but “[prices] may well come to be viewed as symptomatic of a broader shifting
TransCanada Corporation (TRP) (TRP) (TransCanada) today announced that the National Energy Board (NEB) recently issued its decision to the company to proceed with the King’s North Connection project as part of approximately $500 million in pipeline and facility expansions within the Eastern Triangle portion of the Canadian Mainline system. “We are pleased that the NEB has approved our application for
Rex Energy Corporation (REXX) (“the company”) today announced initial production test results from the company’s first two wells in the Moraine East Area, the Renick 2H (Marcellus) and the Renick 3H (Upper Devonian Burkett). As previously announced, the company finished completion operations on the four-well Renick pad, consisting of three Marcellus wells and one Upper Devonian Burkett well. The Renick
Synergy Resources Corporation(NYSE MKT: SYRG) (“Synergy” or the “Company”) a U.S. oil and gas exploration and production company focused in the Denver-Julesburg Basin, has set a range for its fiscal year 2016 capital expenditures of $250-$300 million and provided an update on its drilling and completion activities in the Wattenberg Field. William Scaff Jr., co-CEO of Synergy commented, “With the
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