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Palantir Forward Curve - 2015 June

Global Economy The oil price recovery slowed down this month after three consecutive months of steady price increases. As of June 15, WTI front month futures price settled at $59.53 USD/bbl which is little changed from the May average. European Brent front mo ...

New oil price fall is matter of 'when', not 'if', as inventory builds

Financial players have become convinced in recent months that the oil price will rise. And so far, this has been a self-fulfilling prophecy. Their buying has led to oil being stored all over the world - in tankers floating at sea and in shale oil wells, as wel ...

Glori Energy appoints new Chairman of the Board

Glori Energy Inc. (NASDAQ: GLRI), an energy technology and oil production company focused on enhanced oil recovery using its proprietary AERO System, today announced the election of Director Mark Puckett as new Chairman of the Board. Mr. Puckett succeeds John ...

Cardinal Energy Group settles dispute with Concho Oilfield Services

Cardinal Energy Group, Inc. (OTCQB: CEGX) is pleased to announce that the attorneys for Concho Oilfield Services, LLC and Hudson Petroleum, Ltd., Co., have asked the court to dismiss their claims against the Company with prejudice. The motions filed with the T ...

Americas Petrogas appoints new director

Americas Petrogas Inc. (TSX VENTURE:BOE) is pleased to announce the appointment of Mr. Kenneth Geren of Greenwich, Connecticut to the Company's Board of Directors. Mr. Geren will also join the Company's Compensation Committee. Mr. Geren and his employer, Point ...

Ring Energy completes acquisition of Delaware Basin acreage

Ring Energy, Inc. (NYSE MKT: REI) announced today that it has closed its previously announced acquisition of the Delaware Basin acreage located in Culberson and Reeves Counties, Texas, for a purchase price of $75 million. The Acquisition was financed with proc ...

KFG Resources provides operations update

Robert A. Kadane, President of KFG Resources Ltd, reported today that The Company's subsidiary, KFG Petroleum Corporation's Craig #5 well put on production in May 2015 in Adams County, Mississippi continues to produce 100 BOPD water free. The Company has a 21. ...

Zion Oil & Gas enters drilling contract negotiations with Viking Services

Zion Oil & Gas, Inc. (NASDAQ:ZN) entered into drilling contract negotiations with Viking Services BV and Viking's Israeli subsidiary, for use of a land-based oil and gas rig with deep drilling capacity and certain other oilfield services for exploration activi ...

Cenovus Energy sells royalty business for $3.3 billion

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached an agreement to sell Heritage Royalty Limited Partnership (HRP), a wholly-owned subsidiary, to Ontario Teachers' Pension Plan for gross cash proceeds of approximately $3.3 billion. HRP holds approximately ...

Gastar Exploration announces production on second Utica/Point Pleasant well

Gastar Exploration Inc. (NYSE MKT: GST) reported today initial and 30-day average production on its second Utica Point/Pleasant well. The Blake U-7H well located in Marshall County, West Virginia produced at a peak 48-hour gross sales rate of 36.8 MMcf/d of na ...

VAALCO Energy appoints new Chief Operating Officer

VAALCO Energy, Inc. (NYSE: EGY) today announced that Cary Bounds will join VAALCO as Chief Operating Officer effective July 6, 2015. Mr. Bounds is a petroleum engineer and has almost 25 years of domestic and international asset management, business developmen ...

Kina Petroleum provides drilling update for Kwila-1 well,

Kina Petroleum Limited is pleased to provide an update on progress of the Kwila-1 exploration well in PPL 337. At 8.00 a.m. local time on 30 June 2015 the well was at a depth of 466 metres. During the week, the well was drilled in a 12 ¼' hole to an i ...

Refining Margins Back but Will They Remain?

Between 2009 and 2014, refining margins rarely exceeded $5/bbl in Europe and $8/bbl in Asia, whilst the USA was the only safe-haven, averaging $15/bbl. In 2015, however, the game changed as the global oversupply triggered a crude price collapse, resulting in h ...

Quantifying crude in Russia proves complicated: At the Wellhead

In this week's Oilgram News column, At the Wellhead, Nadia Rodova digs beyond the scant information about Russian oil production and gives more clues about the true state of the industry there. As global oil markets remain heavily oversupplied, Russia's crude ...
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