Capital

Wood Mackenzie Sees U.S. E&Ps Leading New Investment Cycle in 2017

Wood Mackenzie Sees U.S. E&Ps Leading New Investment Cycle in 2017

The global oil and natural gas industry will turn cash flow positive in 2017 for the first time since the downturn if the reduction in output promised by the Organization of the Petroleum Exporting Countries drives oil prices above $55/bbl, according to Wood Mackenzie.

December 22, 2016

Phillips 66 Sees 25% 2017 Capital Reduction, Focuses on NGLs, Transportation

While still taking a cautious approach to investment due to the current business climate, Houston-based Phillips 66 said Friday that more than half of its 2017 capital budget will be allotted to the company’s natural gas liquids (NGL) and transportation businesses, with 85% of that targeting growth projects.

December 9, 2016

Taxes Bleeding Mexico’s Pemex Dry, Fitch Says

The Mexican government is taxing Petroleos Mexicanos (Pemex) to death, and a recently adopted support package to prop up Pemex is not enough, Fitch Ratings said in a note last week.

October 26, 2016

Brief — Pennsylvania Protest

Roughly 150 protesters were at the Pennsylvania Capitol in Harrisburg on Tuesday for a rally urging lawmakers to pass legislation that would make it difficult for oil and gas companies to deduct post-production costs from royalty checks. Lawmakers have tried but failed for years to pass legislation to clarify the state’s Guaranteed Minimum Royalty Act of 1979, which sets forth the minimum payment to landowners but doesn’t address marketing costs and how they should be factored into royalties. Bradford County, PA, has launched a campaign to pressure lawmakers into passing state HB 1391, which may be considered in October (see Shale Daily,Sept. 9). The industry has fought against the legislation, claiming contractual disputes should be settled in court.

September 28, 2016

New NatGas Power Plant Opens in Oregon

Portland General Electric (PGE) opened a new 440 MW natural gas-fired generation plant in eastern Oregon last Friday, the highlight topic of PGE’s 2Q2016 earnings conference call on Wednesday.

August 4, 2016

Encana Raises 2016 Capex, Production Guidance on Efficiency, Production Increases

Encana Corp., one of the largest North American natural gas producers, is so encouraged by a spate of recent efficiency improvements and rising production that it has increased both its 2016 production guidance and capital guidance.

July 21, 2016
Hefty Private Equity War Chest Readied For NatGas, Oil Investments

Hefty Private Equity War Chest Readied For NatGas, Oil Investments

Privately backed financial firms have close to $1 trillion ready to deploy into the global oil and natural gas sector, with one-quarter now planning acquisitions by year’s end that mostly target North America and the Asia-Pacific, a survey by Ernst & Young has found.

June 21, 2016
New Eagle Ford-Focused Player Gets $125M in Funding

New Eagle Ford-Focused Player Gets $125M in Funding

Newly formed exploration company Teal Natural Resources LLC recently received capital commitments totaling $125 million from two private investment firms.

May 17, 2016
New Eagle Ford-Focused Player Gets $125M in Funding

New Eagle Ford-Focused Player Gets $125M in Funding

Newly formed exploration company Teal Natural Resources LLC recently received capital commitments totaling $125 million from two private investment firms.

May 17, 2016
Shell Facing ‘Hard Choices’ for Proposed Pennsylvania Cracker, North American LNG

Shell Facing ‘Hard Choices’ for Proposed Pennsylvania Cracker, North American LNG

Royal Dutch Shell plc has reduced its 2016 capital spending by another 10% and warned Wednesday that low natural gas and oil prices are continuing to weigh on executing expansion plans in North America.

May 4, 2016