The price of West Texas Intermediate (WTI) closed at a discount of $3.09 to Brent on June 19, 2015. The gap is the lowest in five months, when the spread narrowed to $2.76 at the closing of January 21. WTI prices have greatly stabilized in recent months as production has plateaued. Rig counts fell by only two this week, according
Story by The Globe and Mail In an effort to buy Greece a few extra days to negotiate a new rescue deal it has been resisting for five months, the European Central Bank pumped more emergency funds into the nearly insolvent Greek banks as the European Commission warned the country that it faced an all-out crisis of its own making.
ETP’s first deal since 2013 Energy Transfer Partners (ticker: ETP) announced the pricing of $3.0 billion in senior notes this week. The company announced the pricing of $650 million aggregate principal amount of its 2.50% senior notes due 2018, $350 million aggregate principal amount of its 4.150% senior notes due 2020, $1.0 billion aggregate principal amount of its 4.750% senior
City council beats a “strategic” retreat in ongoing battle over hydraulic fracturing Denton City Council has decided to lift its ban on hydraulic fracturing, calling the bill’s repeal a “strategic repeal.” Seven months ago, the city of Denton Texas passed a local ordinance banning hydraulic fracturing. The legislation was met with lawsuits from the oil and gas industry almost immediately,
Attendance at this year’s St. Petersburg International Economic Forum (SPIEF) is up from a year ago when many Western companies decided to decline invitations in the wake of Russia’s involvement in Ukraine. This year, many American companies have decided to abstain from attending again, but many European oil majors joined their Russian counterparts in St. Petersburg to announce over $1
Enbridge Income Fund Receives Canadian Oil Sands System and Renewables Enbridge (ticker: ENB) followed through on its April 2015 proposal to transfer assets to its Income Fund, swapping ownership of its Canadian Mainline, Regional Oil Sands System and Canadian renewable assets for a closing value of $30.4 billion. The value includes $18.7 billion of units in the fund structure and
Baker Hughes rig count for the week ended June 19, 2015 The number of rigs drilling for oil and gas in the United States fell to 857 in the week ended June 19, 2015, a decline of just 2 rigs from last week. The 2 rig decline represents just a 0.3% decline in overall U.S. rig counts, and is the
Rex Energy Corporation (Nasdaq:REXX) (“Rex Energy”) today announced that it, together with its partners in Water Solutions Holdings, LLC (“Water Solutions”), entered into a purchase and sale agreement with American Water Works Company, Inc. (“American Water”) pursuant to which American Water will acquire Water Solutions and its subsidiaries, including Keystone Clearwater Solutions, LLC. The transaction is valued at approximately $130
This press release was jointly issued by Rosneft and BP Rosneft and BP today signed several agreements strengthening the long term strategic relationship between the two companies, at the St. Petersburg International Economic Forum. Rosneft and BP signed final binding agreements for Rosneft’s sale to BP of a 20 per cent share of Taas-Yuryakh Neftegazodobycha (Taas), creating a new joint
Energy Transfer Partners, L.P. (ETP) today announced the pricing of $650 million aggregate principal amount of its 2.500% senior notes due 2018, $350 million aggregate principal amount of its 4.150% senior notes due 2020, $1.0 billion aggregate principal amount of its 4.750% senior notes due 2026 and $1.0 billion aggregate principal amount of its 6.125% senior notes due 2045, at
Cenovus Energy Inc. (CVE) (CVE) continues to make progress on its previously announced plan to pursue opportunities to maximize the value of its royalty interest and mineral fee title lands. The company confirms it is in discussions with a counterparty with respect to a potential sale of the assets. There is no assurance any agreement will result from the discussions.
$30.4 billion transfer of the Canadian Mainline, the Regional Oil Sands System and Canadian renewable energy assets to Enbridge Income Fund Transaction supports higher dividend payout and positions Enbridge to extend its industry leading growth rate beyond 2018 Available Cash Flow from Operations growth expected to average approximately 18 percent from 2014 to 2018 33 percent dividend per share growth
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