May 3, 2019 – Oil & Gas 360

American Energy – Permian Basin, LLC Announces Private Exchange Offers for Any and All of Its Outstanding First Lien Notes Due 2020, Second Lien Notes due 2020, and Senior Notes Due 2019, 2020 and 2021 and related Consent Solicitations

May 3, 2019

American Energy – Permian Basin, LLC Announces Private Exchange Offers for Any and All of Its Outstanding First Lien Notes Due 2020, Second Lien Notes due 2020, and Senior Notes Due 2019, 2020 and 2021 and related Consent Solicitations

INVESTOR ALERT: Monteverde & Associates PC is Investigating the Announced Buyout

May 3, 2019

INVESTOR ALERT: Monteverde & Associates PC is Investigating the Announced Buyout

TransCanada Corporation announces shareholder approval of corporate name change and 2019 annual and special meeting Board of Directors election results

May 3, 2019

TransCanada Corporation announces shareholder approval of corporate name change and 2019 annual and special meeting Board of Directors election results

Weekly Rig Count: Small Overall Change Conceals Extensive Reshuffle

May 3, 2019

Most states, basins see shifting activity By Richard Rostad, analyst, Oil & Gas 360 Drilling activity fell slightly this week, continuing an overall decline that has prevailed for most of 2019 according to Baker Hughes. A net one rig came offline this week, the smallest change in nearly two months. There are currently 990 rigs drilling in the country, the

EOG Earns $635 Million, Plans International Crude Exports

May 3, 2019

Guidance: production above, CapEx below By Richard Rostad, analyst, Oil & Gas 360 EOG Resources (ticker: EOG) announced first quarter results today, showing net income of $635 million, or $1.10 per share. EOG reported much smaller derivative losses than many E&P companies this quarter, with derivative losses of only $20.5 million. After adjusting for derivatives and other charges, EOG earned

Enerflex Announces Election of Board of Directors

May 3, 2019

Enerflex Announces Election of Board of Directors

Oil & Gas 360 - Canada Alberta Petrochemical plant canada flag 2

Shuttered Junior Gas Company Simply Walked Away From 4,700 Wells, Says Alberta Energy Regulator

May 3, 2019

From CBC The Alberta Energy Regulator says junior gas company Trident Exploration Corp. shut down abruptly Tuesday without responding to an order to properly manage its 4,700 wells — adding to the more than 3,000 orphan wells already awaiting remediation in the province. Trident terminated 33 employees and 61 contractors on Tuesday, the company said in a news release. The privately held

Wyoming Files Suit Opposing BLM Rule on Flaring - Oil & Gas 360

Winklevosses, Private Equity Eye Power as Fix for U.S. Gas Glut

May 3, 2019

From Bloomberg The Winklevoss twins and a Dallas-based private equity firm are putting their money behind one way to shrink a glut of natural gas from U.S. shale basins: Burn it to produce on-site electricity. Mesa Natural Gas Solutions LLC makes mobile generators that use gas from places like the Permian Basin of West Texas to power drilling operations. It’s a

Iran’s Oil Minister Warns That OPEC Collapse Is Likely

May 3, 2019

From Bloomberg Iran’s oil minister warned that OPEC is in danger of collapse as some nations seek to undermine their fellow members, an apparent reference to Saudi Arabia’s pledge to fill the supply gap created by U.S. sanctions on Iranian exports. “Iran is a member of OPEC for its interests and any threat from member states won’t go unanswered,” Bijan Namdar Zanganeh

Finding Costs Drop to 10-Year Low - Oil & Gas 360

Oil Advances as Jobs Growth Adds Strong Demand to Supply Strains

May 3, 2019

From Bloomberg Oil eked out a gain as a forecast-topping U.S. jobs report signaled a strong domestic economy to go along with the supply disruptions squeezing global crude markets. Futures in New York rose 0.2 percent on Friday, after unemployment unexpectedly fell to a 49-year low in the world’s biggest economy, with cooler-than-projected wage gains. Crude nonetheless recorded a loss for the

Exxon Funds Liza Phase 2 Development Offshore Guyana

May 3, 2019

From Reuters Exxon Mobil Corp said on Friday it has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals. Exxon has been investing heavily in its U.S. shale operations and in Guyana, which has become the focus of intense interest since the company announced the discovery of over 5 billion barrels of oil and

Occidental, Chevron Aren’t the Only Deal-Hungry Oil Drillers

May 3, 2019

From The Wall Street Journal Occidental Petroleum isn’t alone. The Houston-based oil driller dug deep to outbid Chevron for rival Anadarko Petroleum by taking an expensive check from Warren Buffett’s Berkshire Hathaway. Others are on the hunt for assets in the area as a way to boost returns. That competition speaks to why Occidental has come out so strong. West Texas has become a big focus for drillers from ConocoPhillips to EOG Resources . The

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