Eni S.p.A. (ticker: E) believes its Zohr Prospect, located about 120 miles off the coast of Egypt, could hold as much as 30 trillion cubic feet (Tcf) of lean gas, the company announced on August 30, 2015. According to the news release, the discovery is reportedly the largest in the history of both Egypt and the Mediterranean Sea. The Zohr
Raymond James Cuts Long Term Henry Hub Price to $3.25 The industry buzz word for the last several years has been “liquids,” as the majority of companies have focused on oil-rich plays and realigned drilling operations to higher condensate areas. Companies like Penn Virginia (ticker: PVA) and Callon Petroleum (ticker: CPE) strategically shifted their portfolios to oil basins from their
Atlas Companies Appoint Jeffrey M. Slotterback as Chief Financial Officer PHILADELPHIA, Aug. 31, 2015 /PRNewswire/ — Atlas Energy Group, LLC (ATLS) and Atlas Resource Partners, L.P. (ARP) today announced the appointment of Jeffrey M. Slotterback as Chief Financial Officer of both ATLS and ARP, which will take effect as of September 18th. Mr. Slotterback currently serves as Chief Accounting Officer of
Story by Reuters * Inflation to likely rebound -Fed’s Fischer * Oil prices jump more than 5 pct * Phillips 66 up after Buffett discloses stake * Indexes finish down: Dow 0.69 pct, S&P 0.84 pct, Nasdaq 1.07 pct (Updates to close) Wall Street ended lower on Monday and wrapped up its worst month since 2012 after a senior Federal
Ukraine hopes to return to last winter’s gas deal Ukrainian Prime Minister Arseniy Yatsenyuk said last Friday that Ukraine and Russia should implement a similar deal to the one reached last winter for the coming months, reports the Associated Press. “We are convinced that the only mechanism to ensure a gas transit to the E.U. as well as stable supplies
Pro Forma Liquidity of Approximately $260 Million and Pro Forma Total Debt Ratio of 3.6 Times Penn Virginia Corporation (PVA) today announced that it has closed the previously announced sale of its East Texas assets. The net cash proceeds from the sale were approximately $74 million, including customary closing adjustments. Pro forma for the East Texas divestiture, at June 30,
Oil continues climb Oil prices continued to climb today, following a trend from late last week. West Texas Intermediate for October 2015 was trading at $47.50 per barrel today, up about $10 from last Monday’s lows. Last week, better than expected economic data, improvements in the Chinese economy and an unexpected draw on crude oil led to both WTI and
Alberta’s royalty review panel has decided not to make changes until after the end of 2016 The Alberta provincial government released a statement last week announcing that it had formed a panel to conduct a review of the oil and gas industry’s royalties. The panel, which will be chaired by ATB Financial President and CEO Dave Mowat, will not make
$185 Million Transaction Part of Plan Targeting $400-$500 Million in Divestitures by Year-End TULSA, Okla.–(BUSINESS WIRE)– WPX Energy (NYSE: WPX) announced today that it has agreed to sell a North Dakota gathering system for approximately $185 million to a private equity fund managed by the Ares EIF Group, a subsidiary of Ares Management, L.P. (NYSE: ARES). The parties expect to
National Oilwell Varco, Inc. (NOV) announced today that Jose A. Bayardo has been named Senior Vice President and Chief Financial Officer of National Oilwell Varco, effective August 28, 2015. Mr. Bayardo succeeds Scott K. Duff, Interim Chief Financial Officer. Prior to joining National Oilwell Varco, Mr. Bayardo, age 43, served as Senior Vice President, Resource and Business Development at Continental
Story by Reuters Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) disclosed a $4.48 billion stake in oil refiner Phillips 66 (PSX.N), rebuilding a bet it had made in the energy industry before oil prices fell. The 57.98 million-share, or roughly 10.8 percent, stake was revealed in a Friday night filing with the U.S. Securities and Exchange Commission. Phillips 66 shares closed
Atlas Energy Group, LLC (ATLS) and Atlas Resource Partners, L.P. (ARP) today announced the appointment of Jeffrey M. Slotterback as Chief Financial Officer of both ATLS and ARP, which will take effect as of September 18th. Mr. Slotterback currently serves as Chief Accounting Officer of both Atlas companies, which has been his position since March 2011. In addition, Mr. Slotterback
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