Monday, January 27, 2025

Callon Petroleum Boosts Borrowing Base, Targeting Self-Funding by 2016

Permian operator Callon Petroleum (ticker: CPE) announced a 20% increase to its borrowing base on October 7, 2015. Its new borrowing base is $300 million – $50 million higher than its previous determination, and no other changes were made to the credit facility. In a company issued press release, Fred Callon, Chairman and Chief Executive Officer of Callon Petroleum, said,

Higher Alberta Royalties Not What O&G Industry Needs Now: BMO

Higher royalty payments would pressure Alberta oil & gas producers A report from BMO Capital Markets warned that increasing royalty payments in the Canadian province of Alberta could dampen business as it has in the past, but that the current review could potentially be better than those in the past, as the board has a stronger grasp of the outcomes

Brazil Sees Light Demand in Offshore Auction, Sells 37 of 266 Exploratory Oil Blocks

From The Wall Street Journal SÃO PAULO—The Brazilian government’s auction of exploratory oil blocks met with little demand on Wednesday, with no bids from state oil company Petróleo Brasileiro SA, as the low price of oil and local content-rules weighed on interest. Brazil’s National Petroleum Agency, or ANP, raised only 121 million reais ($31.4 million). The minimum required bids on

Fracing

Vanguard Natural Resources Closing in on $1.1 Billion in Acquisitions

Vanguard closes on LRR Energy for $541 million Vanguard Natural Resources (ticker: VNR) announced today the closing of the previously announced deal to acquire LRR Energy. According to the company’s press release, a subsidiary of Vanguard merged into LRR Energy and, at the same time, Vanguard acquired LRE GP, the general partner of LRR Energy (collectively LRE) for total consideration