August 25, 2015 – Oil & Gas 360

Experts Discuss OPEC v. Shale, Lifting Crude Oil Export Ban

August 25, 2015

On the final day of EnerCom’s The Oil & Gas Conference®, a number of energy experts shared their insight into energy market opportunities. James Constas, EnerCom Managing Director EnerCom Managing Director James Constas gave a presentation called “Saudi America: the Unexpected Swing Producer.” Constas made the case that three primary factors have determined a cartel’s pricing power: a physical commodity,

Encana in the Haynesville: From Entry to Today’s $850 Million Exit

August 25, 2015

Calgary-based Encana Corporation (ticker: ECA) made a big jump in reducing its debt on August 25, 2015, selling the entirety of its assets in the Haynesville for total cash consideration of $850 million. The buyer, GEP Haynesville (a joint venture involving GeoSouthern and funds managed by GSO Capital Partners LP), receives 217 MMcf/d of production and 720 Bcfe of proved

Generating 20% IRRs with $38 Oil

August 25, 2015

EnerCom Analytics’ well cost sensitivity by basin EnerCom Analytics ran an analysis of well costs for various basins in December to help illustrate at what cost wells needed to be drilled to generate at least 20% IRRs. With oil prices down even further from where they were at the end of last year, EnerCom Analytics ran the numbers again, this

Quebec Approves $800 Million LNG Project

August 25, 2015

Stolt LNGaz receives approval from Quebec government for new LNG plant The Quebec government yesterday approved the Stolt LNGaz natural gas liquefaction plant in Becancour, Quebec. The LNG project will produce 500,000 tons of LNG to be distributed to customers in Quebec that are not currently serviced by natural gas pipelines. The Stolt LNGaz project is valued at approximately C$800

Cobalt International Energy, Inc. Names Chief Financial Officer

August 25, 2015

Cobalt International Energy, Inc. (“Cobalt”) (CIE) today announced that Shannon (Shane) E. Young, III will join Cobalt as Chief Financial Officer and Executive Vice President. Mr. Young is currently Senior Vice President & Chief Financial Officer for Talos Energy LLC. He replaces John P. Wilkirson, who has indicated his desire to pursue other interests. These changes are effective September 1,

Transocean Ltd. Announces Extraordinary General Meeting, Proposes Cancellation of Dividend

August 25, 2015

Transocean Ltd. (RIG) (RIGN.VX) announced today that the company will convene an Extraordinary General Meeting of Shareholders (“EGM”). The EGM, which will be open to shareholders of record as of October 12, 2015, will be held at 5:00 p.m., CEST, on October 29, 2015, in Cham, Switzerland. Additional details on the EGM will be provided to shareholders and be made

Australia Removes Wind Projects from $2 Billion Renewable Development Fund

August 25, 2015

The Australian government will no longer allow the Clean Energy Finance Corporation to invest in wind Australia’s Clean Energy Finance Corporation (CEFC) received a directive from the Australian government to stop investing in future wind power projects. Australian Prime Minister Tony Abbott said the decision was made in hopes of refocusing the CEFC on developing new technologies, rather than supporting

RSP Permian, Inc. Completes Bolt-on Midland Basin Acquisitions and Increases Borrowing Base

August 25, 2015

RSP Permian, Inc. (“RSP” or the “Company”) (RSPP) has closed its previously announced bolt-on acquisitions in the Company’s existing core operating areas in the Midland Basin for an aggregate purchase price of approximately $274 million in cash, subject to certain post-closing adjustments. As previously disclosed, the acquisitions include 5,704 net surface acres, or 27,287 net effective horizontal acres, in the

Russian Security Service Said to Stall Schlumberger Deal

August 25, 2015

Story by Bloomberg Russia’s Federal Security Service, the main successor to the KGB, is holding up Schlumberger Ltd.’s acquisition of a 46 percent stake in Eurasia Drilling Co., according to two people with knowledge of the matter. The FSB, as the service is known, is concerned that Schlumberger would have too much influence in Russia’s oil-services market, according to the

LINN Energy Appoints New CFO

August 25, 2015

LINN Energy, LLC (LINE) (“LINN” or the “Company”) and LinnCo, LLC (LNCO) (“LinnCo”) announced today that David B. Rottino has been appointed as Executive Vice President and Chief Financial Officer of both LINN and LinnCo, effective immediately. Mr. Rottino joined the Company in June 2008 as Senior Vice President and Chief Accounting Officer and has served as Executive Vice President,

Encana Reaches Agreement to Sell Its Haynesville Natural Gas Assets

August 25, 2015

Encana Corporation (Encana) (ECA.TO) (ECA.TO)announced today that its wholly-owned subsidiary, Encana Oil & Gas (USA) Inc., has reached an agreement to sell its Haynesville natural gas assets, located in northern Louisiana, to GEP Haynesville, LLC (GeoSouthern), a joint venture formed by GeoSouthern Haynesville, LP and funds managed by GSO Capital Partners LP. Total cash consideration to Encana under the transaction

Synergy Resources Corporation Names CFO, Other Additions to Team

August 25, 2015

Synergy Resources Corporation(NYSE MKT: SYRG) (“Synergy” or the “Company”) an oil and gas exploration and production company focused in the Denver-Julesburg Basin announced it has hired James P. Henderson as Executive Vice President Finance and Chief Financial Officer. Mr. Henderson is the former CFO of Kodiak Oil and Gas Corp. and he brings over twenty five years of oil and

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