Energy Transfer Partners Moves Susser Holdings to Sunoco LP Energy Transfer Partners (ticker: ETP) announced that it plans a 100% dropdown of Susser Holdings Corp. (SHC) for approximately $1.94 billion to its subsidiary Sunoco LP (ticker: SUN). In addition, there will be an exchange for 11 million SUN units owned by SHC for another 11 million new Sun units to
American Majors Avoid Shallow Water Round Mexico offered its first auction for oil and gas rights in 77 years today. It presented a total of 14 blocks in the shallow Gulf of Mexico. A handful of bids were received but only two blocks were sold, a result of some bids not measuring up to requirements from Mexico’s Energy Ministry. Only
TransCanada to Issue Second Quarter 2015 Financial Results July 31 TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) will hold a teleconference and webcast on Friday, July 31, 2015 to discuss its second quarter 2015 financial results. Russ Girling, TransCanada president and chief executive officer, Don Marchand, executive vice-president and chief financial officer and members of the executive leadership team will discuss TransCanada’s
Lightstream Announces Closing of Previously Announced US $200 Million Secured Note Transaction and Production Update Lightstream Resources Ltd. (the “Company” or “Lightstream”) (TSX:LTS) announces that we have completed the issuance of US$200 million in second lien notes (“Secured Notes”) for cash proceeds, as described in our July 2, 2015 press release. Proceeds will be used to reduce the outstanding borrowing
Canacol Energy Ltd. Announces Change to Fiscal Year End Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX:CNE)(OTCQX:CNNEF)(BVC:CNEC) is pleased to announce its new fiscal year ending December 31. Its previous year ending June 30 will go ahead as originally scheduled including, amongst other items, annual audited consolidated financial statements and audited reserve reports to be released prior to September 28,
Quarter-over-quarter daily production increases by 19%, current volumes highest in company history Increased efficiency, shorter drilling days and wells exceeding type curves prompted Sanchez Energy (ticker: SN) to upwardly revise guidance for the second straight quarter, the company said in an operations update on July 15, 2015. Current volumes are the highest in company history. The producer, operating almost exclusively
Orphaned wells are growing, but strong companies are still seeing strong business in Alberta The number of orphaned wells in Alberta has shot up over the last year as many companies struggle with lower commodity prices. Alberta’s Orphan Well Association (OWA) says it currently has a backlog of 704 orphaned wells, up dramatically from 164 last year. The “industry is
Pawnee Terminal offers connection into Pony Express Pipeline to Cushing Arc Logistics (ticker: ARCX) announced today the $76.6 million acquisition of all the limited liability company interest of UET Midstream from United Energy Trading and Hawkeye Midstream. The consideration for the acquisition was made up of approximately $4.3 million in cash and approximately $32.3 million common units (approximately 1.746 million
Crude by rail continues to grow alongside production in the Rocky Mountains As crude oil production in the Rocky Mountains, Petroleum Administration for Defense District (PADD) 4, has steadily increased, so too has the use of railways to transport crude oil from the region. Data from the Energy Information Administration shows that 122 MBOPD of crude oil was moved by
Nabors Industries Ltd. (NYSE: NBR) today announced the execution of an amendment to its existing committed, unsecured revolving credit facility. Under the terms of the amendment, the borrowing capacity under the revolving credit facility has been increased to $2.2 billion. In addition, the term of the revolving credit facility has been extended until July 2020. The current rate under the
Miller Energy Resources, Inc. (MILL) (“Miller Energy” or the “Company”) today provided clarifying comments to announcements made in its press release dated July 14, 2015. The Company also provided an update on its on-going capital repositioning process as well as its financial and operational position. Miller Energy believes its assets have value that exceeds its debt and continue to offer
Crescent Point Energy Confirms July 2015 Dividend Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (CPG) (CPG) confirms that the dividend to be paid on August 17, 2015, in respect of July 2015 production, for shareholders of record on July 31, 2015, will be CDN$0.23 per share. These dividends are designated as “eligible dividends” for Canadian income tax purposes.
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