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Friday, February 12, 2016

Running the Numbers on a Low Cost Natgas Producer

Winter started late, destroying demand for natural gas in America. Natural gas storage touched record levels at the end of the refill season. NYMEX Henry Hub futures briefly traded below $2 per MMBTU and have staged only a modest rebound with the onset of co ...

Forum Energy Technologies announces fourth quarter and full-year 2015 results

Forum Energy Technologies, Inc. (NYSE:FET) today announced fourth quarter 2015 revenue of $196 million, compared to $439 million in the fourth quarter 2014. Net loss for the quarter was $164 million, or $1.81 per diluted share, compared to net income of $46 mi ...

Jones Energy provides reserves and financial update

Jones Energy, Inc. (NYSE: JONE) today provided its 2015 year-end reserves and financial update: Proved reserves at year-end 2015 were 101.7 MMBoe based on SEC pricing1; proved oil reserves were 25.4 MMBbl Cleveland proved reserves were 80.6 MMBoe at year-end 2 ...

New EIA data revise Oklahoma's oil production up by 100,000 barrels per day

Source: U.S. Energy Information Administration, EIA-914 EIA's Petroleum Supply Monthly, published on January 30, includes crude oil production estimates for Oklahoma based on EIA monthly survey data. The new estimates are roughly 100,000 barrels per day more ...

Pine Cliff Energy Ltd. announces more than 120% increase in 2015 year-end reserves

Pine Cliff Energy Ltd. (TSX VENTURE:PNE) is pleased to announce its 2015 year-end reserves. Pine Cliff's independent reserve report was prepared by McDaniel & Associates Limited in accordance with National Instrument 51-101 Standards of Disclosure for Oil and ...

Strategic Oil & Gas announces update on operations and financing arrangements

Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) is pleased to announce its recent well results and year-end reserves: Step-out Muskeg horizontal well 14-35-121-23w5 produced at an average rate of 1,060 boe/d over the last 48 hours of a nine day production test. Ste ...

Yuma Energy, Inc. and Davis Petroleum Acquisition Corp. announce merger agreement

Yuma Energy, Inc. (NYSE MKT: YUMA) (NYSE MKT: YUMA-PA) and privately held Davis Petroleum Acquisition Corp. jointly announced today that they have entered into a definitive merger agreement for an all-stock transaction. Upon completion of the transaction, whic ...

Cub Energy announces director resignation

Cub Energy Inc. (TSX VENTURE:KUB) announces that Richard 'Dick' K. Stoneburner has informed the Board that he has resigned as Director of the Company effective today. Mikhail Afendikov, Chairman and CEO said: 'We thank Dick for contributions to our Board and ...

SoCalGas temporarily controls flow of gas at leaking Aliso Canyon well; initiates process of permanently stopping the leak

Southern California Gas Co. (SoCalGas) today announced that it temporarily has controlled the flow of natural gas at the leaking well at its Aliso Canyon storage facility outside Los Angeles. It will continue to work in coordination with the California Divisio ...

Basic Energy Services reports selected operating data for January 2016

Basic Energy Services, Inc. (NYSE: BAS) today reported selected operating data for the month of January 2016. Basic's well servicing rig count remained unchanged at 421. Well servicing rig hours for the month were 37,200 producing a rig utilization rate of 38% ...

OPEC Production Cut Unlikely Until U.S. Production Declines Another Million Barrels Per Day

An OPEC production cut is unlikely until U.S. production declines by about another million barrels per day (mmbpd). OPEC won't cut because it would accomplish nothing beyond a short-term increase in price. Carefully placed comments by OPEC and Russian oil mini ...

Polarcus awarded broadband 4D project offshore Norway

Polarcus Limited (OSE: PLCS) is pleased to announce that the Company has received a Letter of Intent for a 4D project over a field offshore Norway. This will be the 8th monitor survey over the field and is part of an improved oil recovery (IOR) plan. The surv ...

Oil price, Premier/Rockhopper, Europa/Atlantic licence round/Providence, And finally...

Oil price Another bad day at the office, particularly for WTI which was hit harder than Brent as Genscape pointed out that stocks at Cushing had reached 90% of capacity. The EIA numbers had actually been better than expected showing a modest draw against fore ...

Woodside Petroleum makes second gas discovery in Myanmar

Woodside advises that the Thalin-1A exploration well in Block AD-7 in the Rakhine Basin has intersected a gross gas column of approximately 64m. Approximately 62m of net gas pay is interpreted within the primary target interval. Block AD-7 is located in the B ...
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