September 29, 2015 – Oil & Gas 360

Lonestar Resources Projecting Volume Records from Eagle Ford Shale

September 29, 2015

CEO Bracken: “The Time has Come” for Acquisition Opportunities Lonestar Resources (ticker: LNREF), a Fort Worth-based exploration and production company with operations focused on the Bakken and Eagle Ford shales, expects to set company production records in Q3’15 based on wells that continue to exceed third party estimates. Q3’15 volumes are forecasted to average 6,500 BOEPD, marking respective increases of 12%

Energy XXI Lowers LOE by 30%, G&A by 36%

September 29, 2015

Energy XXI announces fiscal year-end results Houston-based Energy XXI (ticker: EXXI) announced its 2015 year-end fiscal results today. According to a press release from the company, production remained stable into fiscal first quarter at approximately 58 MBOEPD (71% oil weighted), while the company lowered per barrel costs through a 30% reduction in LOE and a 36% reduction in G&A. For

Presidential Candidates on Energy: Bush

September 29, 2015

“Let the US Export Oil and Natural Gas” Former Florida Governor Jeb Bush released his official energy plan today, outlining four initiatives that his plan states will create one million manufacturing jobs. Lift Restrictions on Exports of Oil and Natural Gas: “Estimates from various studies indicate retail gasoline prices would drop by approximately 6 cents a gallon within 2 to

Shell Looks to Drill at least Two Exploratory Wells Offshore Nova Scotia

September 29, 2015

Shell has four ships on standby Shell Canada (ticker: RDSA) has four ships on standby in Halifax Harbor as company waits for approval to drill offshore Nova Scotia. The company expects to begin drilling two exploration wells in the Shelburne Basin within the next few months, pending approval from the Canada-Nova Scotia Offshore Petroleum Board, reports CBC. “What we are waiting

National Elections in Canada are Less than Three Weeks Away

September 29, 2015

The three-way race for the seat of Prime Minister of Canada Elections for the head of Canada’s federal government are set to take place October 19, less than three weeks from now. The latest national poll shows the Conservatives at 31%, the Liberals at 30% and the New Democratic Party (NDP) at 29%. Based on those numbers, the Conservatives are

Prince Rupert Gas Transmission Signs Project Agreement With Metlakatla First Nation

September 29, 2015

PRINCE RUPERT, BRITISH COLUMBIA–(Marketwired – Sept. 29, 2015) – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that its Prince Rupert Gas Transmission project (PRGT) has signed a Project Agreement with the Metlakatla First Nation, a member of the Coast Tsimshian Nation. The Project Agreement – the eighth with First Nations along the pipeline route – outlines financial and other benefits

Terra Energy Closes Sale of Non-Core Assets

September 29, 2015

CALGARY, ALBERTA–(Marketwired – Sept. 29, 2015) – Terra Energy Corp. (“Terra” or the “Company”) (TSX:TT) is pleased to announce that the Company has closed the previously announced sale of certain of the Company’s non-core, P&NG assets in the Boundary Lake and Worsley areas of the Province of Alberta for $10.615 million. Net proceeds from the sale transaction will be used

Russia Turning to China for Long-Term Funding

September 29, 2015

Chinese Fund Buys 9.9% Stake in $27 Billion Russian LNG Project Since the implementation of U.S. sanctions against Russia for its actions in Crimea, one of the major challenges facing the Russian oil and gas industry is gaining access to long-term project financing. Under the current sanctions regime, loans to Russia can be no longer than 30 days if they

Thirteen States Release Joint Report on Seismic Activity

September 29, 2015

StatesFirst Report Covers Effects from Disposal Wells, NOT Hydraulic Fracturing StatesFirst, a joint initiative led by the Interstate Oil and Gas Compact Commission (IOGCC) and the Ground Water Protection Council (GWPC), has released guidance and findings related to reports of induced seismicity in oil and gas drilling regions. A total of 13 states partnered in the project, including Oklahoma, where

4 things businesses should know about Kevin McCarthy (likely the next House Speaker)

September 29, 2015

From The Business Journals It’s official: Kevin McCarthy, who has been the Republicans’ No. 2 leader in the House, announced his candidacy Monday afternoon to succeed John Boehner as House Speaker. Although he’s served in Congress for only nine years, McCarthy is the overwhelming favorite to win the job, and his only announced opponent so far is Rep. Daniel Webster,

Alcoa to Split as Aluminum Glut Pressures Prices

September 29, 2015

From The Wall Street Journal Alcoa Inc. said Monday it would split in two, a move that would isolate the company’s more profitable parts-making units from its raw aluminum operations. The split is one of the most dramatic corporate consequences of the commodities bust driven by a slowdown in Chinese economic growth. As it consumes less, China has found itself

MacArthur ‘genius’ grant winner creates artificial leaves that photosynthesize

September 29, 2015

From The Los Angeles Times It took nature millions of years to figure out how to turn energy from the sun into chemical energy that can be stored for a cloudy day – a process known as photosynthesis. It took Peidong Yang, a chemist at UC Berkeley, about 10 years to accomplish a similar feat with the help of semiconductor

Premium Content