New York Times – After years of emulating the flashy United States stock markets, countries around the globe are now using America as a model for what they don’t want to look like. Industry leaders and regulators in several countries including Canada, Australia and Germany have adopted or proposed limits on high-speed trading and other technological developments that have come
Every Wednesday, EnerCom’s Oil & Gas 360® will deliver media stories, company updates, and research commentary covering the crude oil spectrum. The theme for this week: Brent and WTI – Which Way are They Headed? CRUDE OIL INVENTORY/’000 bbls (Week Ended 9/21/12) Current: 365,180 Actual Injection/(Withdrawal): (2,446) Economist Average Estimate: 882 Previous: 367,626 Click here for the chart with five
Paul Welch, Chief Executive Officer – Chariot Oil & Gas (OIGLF) Paul has extensive oil and gas industry experience having worked for Shell International for 12 years, followed by a further eleven years with independent companies, most recently with Hunt Oil and Pioneer Natural Resources prior to joining Chariot Oil & Gas in October of 2009. Paul is an engineer
CNBC – Saudi Arabia and the United Arab Emirates have opened new pipelines bypassing the Strait of Hormuz, the shipping lane that Iran has repeatedly threatened to close, in a move that will reduce Tehran’s power over oil markets. The quiet opening of the pipelines comes amid heightened diplomatic tensions over Tehran’s nuclear program. Iran’s oil production has fallen to
Harvest Natural Resources (ticker: HNR) is an oil and gas exploration company headquartered in Houston, Texas with exploration projects in Indonesia, Gabon, Oman and producing assets in Venezuela. On June 21, 2012 the company announced it had sold its 32% interest in its Venezuelan affiliate, Petrodelta, to the Indonesian state-owned oil company, PT Pertamina for $725 million in an all-cash
How is value measured? Analysts talk and write about a stock because the company creates value. Does “value” mean “cheap?” Buy low, sell high. That formula is not working with Facebook (ticker: FB) at the moment. That’s more like buy high, short sell, but we recognize that it is early for FB and its “friends.” Yahoo (ticker: YHOO) went public
Core Laboratories (NYSE: CLB) describes itself as “a leading provider of proprietary and patented reservoir description, production enhancement and reservoir management services for the global petroleum industry. These services enable the company’s clients to optimize reservoir performance and maximize hydrocarbon recovery from their producing fields. The company has over 70 offices in more than 50 countries and is located in
David Demshur, Chief Executive Officer, and Richard Bergmark, Chief Financial Officer of Core Laboratories N.V. (NYSE: CLB) presented today at EnerCom’s The Oil & Services Conference™ 10. Core Laboratories is a leading provider of proprietary and patented reservoir description, production enhancement and reservoir management services for the global petroleum industry. During the company’s breakout session, management was asked the following
On July 21, 2011 Harvest Natural Resources (ticker: HNR) provided an update on the progress of its exploration program offshore Gabon. With efforts to test deeper zones at its Ruche discovery announced in June 2011 offshore Gabon, Harvest announced that the Dussafu Ruche Marin-1 (DRM-1) well, deepened to 11,355 feet, was successful in logging 35 feet of oil pay within
Harvest Natural Resources (ticker: HNR) announced that it had commenced drilling the Ruche Marin-A exploration well located in 380 feet of water offshore Gabon, West Africa. The well is highly anticipated because it will test multiple stacked pre-salt targets offshore West Africa. The exploration well will be drilled with the Transocean Sedneth 701 semi-submersible drilling unit to a planned total
Harvest Natural Resources’ (ticker: HNR) exploration projects around the world took one step closer to coming to fruition. The company greatly de-risked its Budong-Budong exploration project in Indonesia, and successfully drilled a horizontal well in an untested Venezuelan field. In Indonesia, Harvest drilled the Lariang LG-1 exploration well (64.4% WI) on the Budong Budong Block PSC to 5,311 feet with
On March 2, 2011, Harvest Natural Resources (ticker: HNR) announced an increase in reserves for both its U.S. and Venezuela operations and provided an operations update. HNR’s total proved reserves for 2010 increased 17% to 54.6 million barrels of oil equivalent (MMBOE), and its 2P reserves increased 42% to 118.9 MMBOE. Uintah Basin, Utah Reserves Highlights (Reserves numbers below are
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