July 27, 2015 – Oil & Gas 360

Goodrich Petroleum Corporation Announces Sale Of Proved Reserves And Portion Of Leasehold In The Eagle Ford Shale

July 27, 2015

Goodrich Petroleum Corporation (GDP) today announced that it has entered into a definitive agreement to sell its proved reserves and associated leasehold in the Eagle Ford Shale in LaSalle and Frio Counties, Texas for $118 million, subject to purchase price adjustments as provided for in the Purchase and Sale Agreement. The effective date of the transaction is July 1, 2015

Natural Gas Salt-Facility Storage in the Gulf has Doubled Since 2008

July 27, 2015

Salt-facilities offer more flexibility than other types of storage The available working capacity of salt-cavern natural gas storage facilities in the Gulf Coast gas-producing region has doubled since 2008, according to information from the Energy Information Administration (EIA). New capacity in salt-facilities has accounted for about half of the storage capacity built in the producing region, with salt-facility capacity increasing

Statoil Julius Discovery Holds 15 to75 MMBOE of Recoverable Gas and Condensate

July 27, 2015

Statoil continues to delineate resources near King Lear discovery offshore in Norway Norway’s Statoil (ticker: STO) announced its 2/4-23S well (Julius) discovered gas and condensate in the Ula formation, offshore Norway in the North Sea, southeast of Stavanger. STO estimates that there is 15 to75 million barrels of oil equivalent (MMBOE) in the Julius discovery. Statoil also drilled the Julius

Saudi’s Largest Petrochemical Company is Investing in U.S. Shale Gas

July 27, 2015

Saudi investment in U.S. shale continues in the down market, not interested in acquiring U.S. companies at this point Saudi Basic Industries Corp. (ticker: TADAWUL:2010), or Sabic, plans to expand investment in U.S. shale gas projects through joint ventures, according to acting CEO Yousef al Benyan. Sabic has signed an agreement with Houston-based Enterprise Products Partners (ticker: EPD) to obtain

Colorado Gov. Hickenlooper Pushes for Approval on 6 Million Ton per Annum Jordan Cove LNG

July 27, 2015

The Jordan Cove project would directly link Colorado to new energy markets – Hickenlooper Colorado Governor John Hickenlooper has written to U.S. Department of Energy Secretary Ernest Moniz and Federal Energy Regulatory Commission (FERC) chair Cheryl LaFleur in support of the Jordan Cove LNG project and the Pacific Connector Gas Pipeline, according to Statesman Journal. “Jordan Cove is of specific

Gulfport Energy Corporation Provides Second Quarter 2015 Operational Update

July 27, 2015

Gulfport Energy Corporation (GPOR) (“Gulfport”) today provided a second quarter 2015 operational update and scheduled its second quarter 2015 financial and operational results conference call. Operational highlights for the second quarter of 2015 include: Net production averaged 473.9 MMcfe per day for the quarter, exceeding the Company’s previously estimated guidance of approximately 445 MMcfe per day to 455 MMcfe per

Atlas Resource Partners’ Lending Group Reaffirms $750 Million Borrowing Base

July 27, 2015

Atlas Resource Partners, L.P. (“ARP”) (ARP) announces that its syndicated lending group has reaffirmed the borrowing base of $750 million on ARP’s senior secured revolving credit facility. Atlas Resource Partners, L.P. (ARP) is an exploration & production master limited partnership which owns an interest in over 14,500 producing natural gas and oil wells, located primarily in Appalachia, the Barnett Shale

Ring Energy, Inc. Releases Second Quarter 2015 Operations Update

July 27, 2015

*CORRECTION* Ring Energy, Inc. (NYSE MKT: REI) (“Ring”) (“Company”) earlier today released its operations update for the second quarter of 2015. In the release, the Company published internal engineering 3P (Proved Developed Producing, Proved developed Non-Producing, Proved Undeveloped) reserve estimates of 8.1 MMBOE, and an additional 10.95 MMBOE of Probable and Possible reserves, making a 5P total of 19.05 MMBOE.

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