Texas dunes, HCLP provide answers Texas is the motherlode when it comes to decade after decade of oil and gas production in the U.S., and the Permian basin is widely considered to hold some of the best rock in the country for oil production from shale formations. In addition, the industry’s Permian operators are learning how to best optimize their
800,000 acres and 24,000 BOEPD sold Cenovus Energy (ticker: CVE) announced the sale of its Suffield assets today, in a deal worth more than half a billion dollars. International Petroleum Corporation (ticker: IPCO) will pay Cenovus C$512 million for its assets near Suffield, Alberta. These properties consist of over 800,000 net acres of shallow natural gas rights and 100,000 net
Only 16 E&Ps are expected to grow production and keep spending within cash flow U.S. unconventional E&Ps often find themselves in a difficult position in the current environment. The environment has long been “grow or die,” with high emphasis placed on companies growing production. Firms that have little growth prospects generally trade at significantly lower multiples. On the other hand,
Spread between Brent and WTI also at a 2-year high Oil prices are rising once again, as multiple developments push the commodity to prices not seen since April. Oil prices rose today, with WTI rising by $1.47 to end the day at $52.13/bbl, a jump of 2.90%. This is the first time WTI exceeded $52/bbl since April, and marks four
From Reuters Indian state refiner Hindustan Petroleum Corp has made its first purchase of U.S. oil, buying high sulfur crude Mars in a tender, company chairman M. K. Surana said on Monday. Earlier Indian Oil Corp and Bharat Petroleum Corp, both state refiners, had purchased the U.S. oil through tenders. HPCL has bought 1 million barrels of Mars oil from
From Reuters The main subsidiary of Nigeria’s state oil company said on Monday it planned to increase production from fields in which it owns stakes to 300,000 barrels per day by 2018 from the current level of 180,000 bpd. Nigerian Petroleum Development Company (NPDC), an upstream subsidiary of the Nigerian National Petroleum Corporation (NNPC), said the planned increase in so-called
New Clean Diesel Technology for Large Engines, Heavy-Duty Trucks Offers Fastest, Lowest Cost Route to Emission Reductions in Northeast States
From Reuters BP said it had begun production at the Khazzan gas field in Oman, the sixth and largest of seven new upstream projects that are due to start for the British oil giant this year. Production at the field follows on from BP’s onshore compression and Juniper projects in Trinidad, West Nile Delta Phase 1 in Egypt, Persephone in
PANHANDLE OIL AND GAS INC. to Present at IPAA-OGIS Chicago on Oct. 3rd
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