Million

Spectra: New England States Will Align For Access Northeast

Spectra: New England States Will Align For Access Northeast

Spectra Energy Partners LP’s Access Northeast project has been in a regulatory/contracting holding pattern since late last year, but the company said Friday that New England needs the natural gas the Algonquin Gas Transmission LLC expansion would deliver and it remains committed to the project.

February 17, 2017
California Resources In Black, Sets $250M Joint Venture

California Resources In Black, Sets $250M Joint Venture

Occidental Petroleum Corp.’s spinoff, California Resources Corp. (CRC), on Thursday reported positive earnings for all of last year and revealed plans for a $250 million joint venture to boost output from its oil/natural gas properties in California.

February 17, 2017

Bankruptcy Court Approves Stone Energy’s Restructuring Plan

Stone Energy Corp.’s pre-packaged restructuring plan to wipe out $1.2 billion in debt was approved this week by the U.S. Bankruptcy Court for the Southern District of Texas, bringing the company one step closer to being turned over to its noteholders.

February 16, 2017
Precision Marking Up Fleet Prices as North American Drilling Activity Increases

Precision Marking Up Fleet Prices as North American Drilling Activity Increases

Natural gas drilling activity has escalated in Canada’s Deep Basin, U.S. oil-directed operations are improving, and customers are demanding high-tech rig technology, prompting Precision Drilling Corp. to mark up prices across its fleet.

February 10, 2017

Briefs — Tellurian Inc.

Houston-based Tellurian Inc. (Tellurian), formerly known as Magellan Petroleum Corp. has closed its merger with Tellurian Investments Inc. Tellurian common stock will continue to trade on the NASDAQ under the new ticker symbol “TELL.” Tellurian has appointed Antoine Lafargue as CFO; he was previously CEO of Magellan. “We are developing large scale energy infrastructure on the U.S. Gulf Coast, including the 26 million tonne per annum Driftwood LNGfacility in Calcasieu Parish, LA, which is scheduled to begin construction in 2018,” said Tellurian CEO Meg Gentle. “We expect our next major milestone to be filing our formal permit application with the Federal Energy Regulatory Commission for Driftwood LNG.” Late last year France’s Totalacquired a stake in Tellurian, as has GE Oil & Gas.

February 10, 2017
Tesoro Eyes Growth in Bakken, Rockies From DAPL Interconnections

Tesoro Eyes Growth in Bakken, Rockies From DAPL Interconnections

Among the supporters of the Dakota Access Pipeline (DAPL) completion are Tesoro Corp. and master limited partnership Tesoro Logistics LP (TLLP), which have a vested interest in an extension of their Bakken Shale operations, the CEO said Tuesday.

February 9, 2017
NOV’s Global Land Sales Exceed Offshore Sales For First Time Since 2005

NOV’s Global Land Sales Exceed Offshore Sales For First Time Since 2005

In a continuing sign that things are beginning to move in a positive direction for the oil and gas markets — at least in the onshore — National Oilwell Varco Inc. (NOV) booked an order during 4Q2016 to manufacture 75,000 hydraulic hp of fracture stimulation pumps and associated support equipment for an independent oilfield services provider, the Houston-based company said Tuesday.

February 7, 2017
ExxonMobil Boosting Activity, Raising Capex by 14%; Takes $2B Charge Against U.S. NatGas Fields

ExxonMobil Boosting Activity, Raising Capex by 14%; Takes $2B Charge Against U.S. NatGas Fields

ExxonMobil Corp. recorded a $2 billion writedown on the value of U.S. natural gas fields during the final three months of 2016, but the supermajor is remaining focused on the long-term, with a continuing tilt toward increasing oil production and expanding its domestic petrochemicals arm, the investor relations chief said Wednesday.

January 31, 2017
Enterprise Products Adding Isobutane Unit at Mont Belvieu; 4Q Net Income Down

Enterprise Products Adding Isobutane Unit at Mont Belvieu; 4Q Net Income Down

Enterprise Products Partners Monday said it plans to construct an isobutane dehydrogenation (iBDH) unit in Mont Belvieu, TX, that will have the capability to produce 425,000 tons per year of isobutylene.

January 31, 2017
Now Focused Solely on Eagle Ford, Swift to Drill 12 Wells in 2017

Now Focused Solely on Eagle Ford, Swift to Drill 12 Wells in 2017

Eagle Ford pure-play operator Swift Energy Co. said it plans to spend between $85 million and $95 million on capital expenditures (capex) in 2017. It plans to run one rig in the Eagle Ford and complete a dozen wells there.

January 24, 2017