July 13, 2015 – Oil & Gas 360

Exterran Holdings Announces Preliminary Second Quarter Financial Results of Businesses to Be Spun-off

July 13, 2015

Exterran Holdings, Inc. (EXH) announced today certain preliminary second quarter 2015 financial results for the businesses to be spun-off. As announced in November 2014, Exterran Holdings intends to separate its international contract operations, international aftermarket services and global fabrication businesses into a standalone, publicly traded company named Exterran Corporation. Upon completion of the spin-off, Exterran Holdings, which will continue to

Rex Energy Announces New Chief Operating Officer

July 13, 2015

Rex Energy Corporation (REXX) announced that it has appointed Robert W. Ovitz as Chief Operating Officer of the company. Mr. Ovitz, who most recently served as the Senior Vice President, Operations for the company, assumes the COO role from Patrick M. McKinney, who has served as COO since May 2010 and both President and COO since October 2011. Mr. McKinney

Valero Energy Corporation Declares Regular Cash Dividend on Common Stock and Announces Additional Share Repurchase Authorization

July 13, 2015

Board of Directors of Valero Energy Corporation (NYSE: VLO, “Valero”) has declared a regular quarterly cash dividend on the company’s common stock of $0.40 per share. The dividend is payable on September 2, 2015 to holders of record at the close of business on August 4, 2015. The Board of Directors also approved an incremental $2.5 billion share repurchase authorization.

Black Hills Corp. to Acquire SourceGas Holdings for $1.9 Billion

July 13, 2015

Strategic acquisition accretive to EPS, beginning first calendar year after closing Highly complementary fit enhances operating scale and efficiency of service delivery to customers Increases customer base by 55%, to more than 1.2 million electric and natural gas utility customers RAPID CITY, S.D. – July 12, 2015 – Black Hills Corp. (BKH) today announced it entered into a definitive agreement

PetroQuest Energy Updates Thunder Bayou Production Rate

July 13, 2015

PetroQuest Energy, Inc. (PQ) announced today that its Thunder Bayou discovery well (NRI – 37%) in Vermilion Parish, LA is currently producing at a gross daily rate of approximately 28,000 Mcf of gas, 900 Bbls of oil and 1,200 Bbls of natural gas liquids. The 41 MMcfe/d gross production rate is above the Company’s previously stated expected rate of 38

Dutch Government Bans Hydraulic Fracturing for Five Years

July 13, 2015

Exploration wells to be allowed with permission from the government Dutch Minister of Economic Affairs Henk Kamp announced that the government will impose a ban on hydraulic fracturing until 2020. “No commercial exploration or extraction of shale gas will take place in the Netherlands over the next five years,” according to a release from the Dutch government. “Existing licenses for

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

OPEC Raises 2015 Oil Demand Growth Estimate to 1.28 Million Barrels per Day

July 13, 2015

OPEC sees ‘a more balanced market’ – a higher demand for its crude oil in 2016 The Organization of Petroleum Exporting Countries (OPEC) released its Oil Monthly Report (OMR) for July, predicting economic growth would continue to drive oil demand, even as the group revised world economic growth down. OPEC forecasts global GDP to grow by 3.2% in 2015, down

MLP of Marathon Petroleum Acquires MarkWest Energy Partners for $20 Billion

July 13, 2015

Combined Companies will Create Fourth Largest MLP MPLX LP (ticker: MPLX), the master limited partnership (MLP) vehicle of Marathon Petroleum (ticker: MPC), has announced the oil and gas industry’s third-largest acquisition to date in 2015. According to news releases from the three companies involved, MPC and MPLX have signed a definitive agreement to acquire MarkWest Energy Partners LP (ticker: MWE)

Oil prices fall on fading storm impact, Chinese economic data - Oil&Gas360

Watching Oil Prices: Last Monday’s Drop was One in Two-Thousand

July 13, 2015

Historical oil price data shows one day price drops of 7.7% or higher are relatively rare Last Monday saw the largest drop in oil prices for West Texas Intermediate (WTI) in four months, when the U.S. crude benchmark shed 7.7% of its value in a single day of trading. Concerns over the Greek debt crisis, weakness in the Chinese stock

Halliburton and Baker Hughes Agree to Extend DOJ Review in $34.6 Billion Merger Deal

July 13, 2015

Department of Justice given until November 25 to review Halliburton and Baker Hughes merger Oilfield service giants Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) announced today that they have entered into a timing agreement with the Antitrust Division of the U.S. Department of Justice (DOJ) that will extend the review period for the companies’ $34.6 billion merger. The agreement

Warren Resources Provides Operational Update

July 13, 2015

Achieved second quarter production at the upper end of guidance Commences completion operations for two Upper Marcellus wells On target to achieve annual LOE and G&A of approximately $8 million Reduced well costs below 2015 plan levels NEW YORK, July 13, 2015 (GLOBE NEWSWIRE) — Warren Resources, Inc. (WRES) today provided an update on the Company’s operations in its Marcellus,

Earthstone Energy, Inc. Provides an Operations Update

July 13, 2015

Earthstone Energy, Inc. (NYSE MKT: ESTE) (“Earthstone,” the “Company,” “we” or “our”), today provided an operations update. Acreage Update On June 30, 2015, the Company acquired a 50% operated interest in approximately 970 gross acres and two gross Austin Chalk wells in Gonzales County, Texas (the “Newly Acquired Acreage”). The acreage, acquired for Eagle Ford development, is 100% held-by-production, with

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