Ring Energy (ticker: REI), an E&P based in Midland, Texas, added to its balance sheet in the form of a public equity offering on June 18, 2015. The company issued 4,500,000 shares of common stock at a price of $11.50 per share, resulting in net proceeds of approximately $49 million after deductions and expenses. The underwriters hold a 30-day option to
PBF purchases Chalmette Refinery and other assets for $322 million PBF Energy (ticker: PBF) announced today that its subsidiary has signed an agreement to purchase Chalmette Refining, LLC in New Orleans, Louisiana for $322 million plus working capital including inventory to be valued at closing, according to a company press release. The purchase includes the refinery, which has a 189
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 July 15, 2015 to unitholders of
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 May 2015 of $0.1175 per unit ($1.41 on an annual basis) payable on July 15, 2015 to unitholders of record on July 1, 2015. Vanguard has also declared cash distributions for its 7.875% Series A
Story by MassLive.com As the Baker administration contemplates allowing utilities for the first time to buy capacity on not-yet-built natural gas pipelines, Attorney General Maura Healey is urging caution. The attorney general’s office believes reduced energy consumption and other alternatives to new gas infrastructure could better rein in spiking costs. On April 2 the Department of Energy Resources asked the Department
Erin Energy Corporation (“Erin Energy” or the “Company”) (NYSE MKT: ERN) announced today it has commenced production from the Oyo-7 well (“Oyo-7”) located in OML 120 offshore Nigeria. Erin Energy is the operator of the Oyo field and has a 100% interest in the block. Oyo-7 was drilled to a total depth of approximately 8,000 feet (2,438 meters) and was
State oil and gas group PetroVietnam has acquired all of the Vietnamese assets of U.S. oil major Chevron Corp as it seeks to boost gas output, the Vietnamese group said. Under a deal signed on June 17, PetroVietnam will take over Chevron’s stakes in three offshore blocks and in a natural gas pipeline project linking them to southern Vietnam, the
Story by Reuters SOURCES: Brazilian state-run oil company Petrobras is looking to sell some of its biofuel assets as it tries to raise cash to cover investment for new offshore oil fields and service its debt, two sources told Reuters on Wednesday. The first source, who has a direct knowledge of Petrobras’ plans, said the company’s ethanol plants were the most
Views include oil and gas wells, pipelines, coal mines, power plants-oil, coal, nuclear, gas, transport terminals, market hubs, wind and solar capacity, administrative boundaries The Energy Information Administration (EIA) has published a mapping tool that lets energy companies and analysts to look at the U.S. energy infrastructure through different lenses. These map layers can be presented over several base layers
Multi-year acceleration of Permian development slated for 2016 start Wolfcamp B and C benches in Glasscock County may warrant two laterals per zone Energen Corporation (ticker: EGN) took measures to secure stable near-term growth this week, adding its first oil hedges for 2016 and tapping the equity markets. The measures include: Public offering of 5,700,000 shares of stock, resulting in
Extraction pricing feeling the most pressure The decision by E&P companies to cut capital expenditures and increase efficiencies following the dramatic fall in oil prices put downward pressure on other sectors of the oil and gas industry. The Bureau of Labor Statistics (BLS) tracks the rates oil and natural gas service companies are receiving for goods and services through its
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