Downstream segment of oil and gas not the only sector benefiting from the oil price crash American Airlines expects to save $4.35 billion on fuel Virtually every transportation division is cashing in on low fuel prices, spanning from the typical American commuter to massive international sea tanker routes. In December, AAA estimated American drivers would save as much as $75
Story by WFIE With two coal powered units going offline in Muhlenberg County, a new billion dollar plant is emerging in their place. The Paradise combined cycle plant is located in Drakesboro. 14NEWS receive an exclusive look behind the scenes at the construction site. The new natural gas plant will replace two of the three coal fired units currently in
EV Energy Partners, L.P. (EVEP) today announced it has entered into four agreements with certain EnerVest Institutional Partnerships (EnerVest) to acquire oil and natural gas properties, which represent combined estimated net proved reserves of 302 Bcfe, in the Appalachian Basin, San Juan Basin, Michigan and Austin Chalk for a combined cash consideration of $259 million. The acquisitions are expected to
Rubio favors lifting the crude oil export ban Florida Senator Marco Rubio, campaigning for the 2016 Republican presidential nomination at an oil and gas event in Oklahoma, voiced his stance on some energy policies yesterday. According to an AP report, Rubio called the ban on crude-oil exports “a throwback to the 1970s, long before a domestic oil production boom that resulted from
Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (AXAS) today provided the following financial and operational update. Borrowing Base Abraxas’ bank group recently reaffirmed the Company’s Borrowing Base at $165 million. This Borrowing Base will be effective through April 1, 2016. In connection with the redetermination, Abraxas added 115 bopd (42 mbo) of oil hedges in 2017 at $54.40/bbl. Williston Basin
https://www.youtube.com/watch?v=cYtNfk-q3Yg&feature=youtu.be Oil & Gas 360® speaks with Will Fleckenstein, PhD, at The Oil & Gas Conference® 20 in Denver. Mr. Fleckenstein serves as Professor and Interim Department Head of the Petroleum Engineering Division at Colorado School of Mines. … Username or E-mail Password Remember Me Forgot Password
Goodrich Petroleum (ticker: GDP) reorganized its debt structure on September 2, 2015 in an effort to enhance near-term liquidity. The terms, as explained in a company-issued news release, include replacing its initial loan of $55 million in 5% senior convertible notes due 2032 in exchange for $27.5 million in 5% senior convertible notes also due 2032. The new agreement carries
Chevron Corporation (CVX) has reached a settlement agreement with H5, a California-based e-discovery and litigation services firm. In the settlement, H5 has withdrawn its support from the litigation against Chevron in Ecuador and has assigned its 1.25 percent interest in the $9.5 billion Ecuadorian judgment to Chevron. In 2014, Chevron obtained court-ordered discovery from H5 for the company’s role in
Story by the Chicago Sun-Times Mayor Rahm Emanuel is poised to raise property taxes by $500 million for police and fire pensions and school construction and impose a garbage-collection fee to generate $100 million more, City Hall sources said Wednesday. The $500 million property tax increase will cost the owner of a home valued at $250,000 roughly $500 more each
Story by Electric Power Magazine An official four-year-long investigation into the Solyndra debacle confirms that the bankrupt maker of cylindrical solar photovoltaic panels misled the Department of Energy (DOE) to get a $535 million federal loan guarantee, but it also reveals that the DOE didn’t properly vet those facts, missing opportunities to catch inaccuracies, possibly due to political pressure. The
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