Friday, December 27, 2024

LNG Canada Receives Positive Environmental Assessment

The Shell-backed LNG project in B.C. received environmental approval for its four-train LNG terminal LNG Canada, a consortium led by Shell (ticker: RDSA) with Asian partners including PetroChina (ticker: PTR) and Mitsubishi Corp, received approval for its LNG project in Kitimat, British Columbia today, according to the Canadian Environmental Assessment Agency. The project is expected to produce 2 Bcf/d of LNG on the

Energen Prices Common Stock Offering, Expects Proceeds of $405 Million

Energen Corporation (NYSE: EGN) today announced that it has priced an underwritten public offering of 5,700,000 shares of its common stock. Total gross proceeds of the offering (before underwriter’s discounts and commissions and estimated offering expenses) will be approximately $405 million. The underwriter intends to offer the shares from time to time for sale in one or more transactions on the

Oil States Revises Second Quarter Guidance for Well Site Services

Oil States International, Inc. (OIS) reported that a combination of factors, including the continued decrease in the U.S. land drilling rig count, certain customers drilling wells but electing not to complete them, reduced pricing for certain completion service offerings and the recent heavy rainfall across Texas and Oklahoma have negatively impacted results for its well site services segment during the

Clayton Williams Energy Sells Undeveloped Eagle Ford Rights and Resumes Drilling Operations at a Two-Rig Pace

Clayton Williams Energy, Inc. (the “Company”) (CWEI) today announced that it had sold approximately 3,700 net acres in Burleson County, Texas (the “Acreage”) for cash consideration of $22.1 million. The Acreage, located east of the Company’s contiguous acreage block, was sold under a term assignment that terminates on October 27, 2015 unless the buyer commences a 90-day continuous development program

Canadian Natural Mulls Shift From Alberta on Taxes and Royalties

Story by Bloomberg Canadian Natural Resources Ltd., the nation’s largest heavy oil producer, is considering a shift in investment away from Alberta as the province increases corporate taxes and considers adjusting royalty levels. Pledges by the New Democratic Party government may stifle spending by energy companies and kill jobs, Canadian Natural President Steve Laut said in a call with investors

Fracing

Utica Shale Review: The Evolution of a World Class Shale Play

“Unlocking the key” to unconventional plays is a popular moniker in today’s oil and gas market. Among the trickiest of plays to master is the Utica Shale, located across Maryland, New York, Ohio, Pennsylvania, Virginia and West Virginia. The Utica lies beneath the Marcellus Shale, which was first discovered in 2004 by Range Resources (ticker: RRC), and has roughly matched

PrairieSky Declares Dividend

PrairieSky Royalty Declares June Dividend PrairieSky Royalty Ltd. (“PrairieSky“) (TSX:PSK) announced today that its Board of Directors has declared a dividend of CDN $0.10833 per common share to be paid on July 15, 2015 to shareholders of record on June 30, 2015. The Board of Directors has declared the dividend payable in either cash or common shares at the election

coal mine Wyoming

New Coal MLP valued at $200 Million

CONSOL Energy offers IPO on coal assets CONSOL Energy (ticker: CNX) announced today that it will offer 10 million common units as part of an initial public offering in CNX Coal Resources LP, which is expected to list on the NYSE as CNXC, according to a company press release. The underwriters of the offering will have a 30-day option to

First Quarter Refining Profits: Up 95% from Q1 2014

Higher crack spreads led to better refining margins for Integrated Oils, but can’t offset their upstream loses Integrated oil and gas companies saw much higher profits from their refining operations in the first quarter of this year than in Q1 2014, but it is not enough to offset the effects of the precipitous fall of crude oil prices on the