July 16, 2015 – Oil & Gas 360

Blackbird Energy: Drilling the Liquids-Rich Window of Canada’s Montney

July 16, 2015

Canada’s Montney shale play, which stretches from Western Alberta northwest into British Columbia, has traditionally been gas focused, but a liquids- and condensate-rich window in the Montney has been attracting the attention of major names in the oil and gas industry. Companies like Shell (ticker: RDSA), Encana (ticker ECA), Apache (ticker: APA) and CNRL (ticker: CNQ) have all been building

Enterprise Products Partners: $1.5 Billion Midstream Asset Sale Finances Purchase of Eagle Ford Midstream

July 16, 2015

Divested Assets Worth 3% of EPD’s Gross Operating Margin Enterprise Products Partners (ticker: EPD), the largest master limited partnership in EnerCom’s MLP Scorecard Benchmarking Report, has sold its offshore Gulf of Mexico pipelines and services business to Genesis Energy LP (ticker: GEL) for $1.5 billion. The assets consist of 2,350 miles of offshore crude oil and natural gas pipelines and

Homebuilder offers fueling stations for natural-gas cars

July 16, 2015

Story by The Republic, www.azcentral.com People who buy a new Fulton home in Queen Creek can add a natural-gas pump in the garage if they want to commute with an alternative-fuel vehicle. The new option will cost about $6,000, adding about $28 to the monthly mortgage payment, Fulton officials said. Fulton Homes unveiled the program with Southwest Gas Corp. and

Kinder Morgan Purchases 100% of Elba LNG, Raises Distribution 14%

July 16, 2015

KMI buys remaining 49% of joint venture with Shell Kinder Morgan (ticker: KMI) announced today that it has reached an agreement with Royal Dutch Shell (ticker: RDSA) to purchase the remaining equity interest in Elba Liquefaction Company (ELC), a liquefied natural gas (LNG) joint venture between the two companies, for $630 million. Previously, KMI held 51% interest in the project.

European Refiners Looking Forward to Receiving Iranian Crude

July 16, 2015

Lower prices for Iran’s oil mean better margins for refiners, competition for Russia Refineries across Europe are anticipating the return of Iranian crude oil to their operations, and the potentially higher margins as added crude pushes prices down further. Approximately 27.5% of Iran’s crude exports were to Europe in 2011, and refiners are excited to see the crude return, according

Bam! It’s Earnings Season Again – Q2’15 Estimates

July 16, 2015

EnerCom, Inc. compiled second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 224 E&P and OilService companies in our database. Click here for the full chart of estimates. The median OilServices company earnings estimate for the quarter ending June 30, 2015, is $0.00 per share compared to actual earnings per share of $0.03 and

Natural Gas Overtakes Coal in Electrical Generation for the First Time

July 16, 2015

April 2015 marks the first time ever that natural gas generated more electricity than coal The Energy Information Administration’s (EIA) Electric Power Monthly for April 2015, showed natural gas overtaking coal as the primary source of electrical power generation in the United States. April marks the first time ever that natural gas has powered more electrical generation than coal. According

Penn Virginia Pads Balance Sheet in $75 Million Non-core Asset Sale

July 16, 2015

On July 15, 2015, Penn Virginia (ticker: PVA) announced the sale of its East Texas assets to an undisclosed buyer for gross proceeds of $75 million. The sale is expected to close by August 2015 and includes approximately 33,400 net acres in the Cotton Valley and Haynesville Shale with average Q2’15 production of 1,870 BOEPD (76% gas). The acreage includes

Schlumberger Announces Second-Quarter 2015 Results

July 16, 2015

Revenue of $9.0 billion decreased 12% sequentially EPS of $0.88 declined 17% sequentially, excluding charges and credits Free cash flow of $1.5 billion represented 132% of earnings Sequential decremental operating margin was 23% 5.8 million shares repurchased for $520 million during the quarter Schlumberger Limited (SLB) today reported results for the second quarter of 2015. (Stated in millions, except per

ConocoPhillips Announces Dividend Increase and Reductions in Future Deepwater Exploration Spending

July 16, 2015

ConocoPhillips (NYSE: COP) today announced an increase in its quarterly dividend from $0.73 per share to $0.74 per share, payable on Sept. 1, 2015 to stockholders of record at the close of business on July 27, 2015. “A compelling dividend is a key aspect of our value proposition to shareholders,” commented Ryan Lance, chairman and CEO. “While this increase is

Market Conditions Force Legacy Industries, Brands to Get Creative, Find a Buyer, or Say Goodbye

July 16, 2015

From entertainment to cell phones to oil and gas, companies are scrambling to revamp business strategies to align with changing market conditions With oil prices half of what they were a year ago, energy CFOs on six continents are in overdrive sharpening their pencils, but forced adaptation to long term market changes is happening across all sectors. What’s on TV? In the

Midstates Petroleum Announces 1 for 10 Reverse Stock Split

July 16, 2015

Midstates Petroleum Company, Inc. (NYSE: MPO) (“Midstates” or the “Company”) announced today a 1-for-10 reverse stock split of the Company’s common stock. The 1-for-10 reverse stock split will be effective as of the close of business on August 3, 2015 and the Company’s stock will begin trading on a split-adjusted basis on August 4, 2015. Midstates’ stock will continue to

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