Monthly Archives: February 2018

Greece Ratifies 4 Leases, Greenlighting Exploration After Two-Year Delay

Western Greece can expect new drilling activity from France’s Total and Italy’s Edison in the coming months, according to a go-ahead authorized by the nation’s parliament. Four blocks, one offshore and three onshore, in the area had been ratified back in 2016, but gridlock prevented the parliament from ratifying the exploration contracts. Sizeable gas finds in the Mediterranean have encouraged ...

Source: Oilprice.com

Eco-Stim Energy Solutions Announces Fourth Quarter And Year End 2017 Financial Results And Conference Call Schedule

HOUSTON, TEXAS, Feb. 28, 2018 (GLOBE NEWSWIRE) — Eco-Stim Energy Solutions, Inc. (NASDAQ: ESES) (“EcoStim” or the “Company”) announced today that the Company’s management will issue its 2017 fourth quarter and year-end financial and operating results on Friday, March 9th, 2018 at 8 AM EST. In conjunction with this release, the Company has scheduled a [Read More…]

Source: BOE Report

ClearStream Announces Fourth Quarter and Annual 2017 Financial Results

CALGARY, Alberta, Feb. 28, 2018 (GLOBE NEWSWIRE) — ClearStream Energy Services Inc. (“ClearStream”) (TSX:CSM) and (TSX:CSM.DB.A) today announced its results for the three and twelve months ended December 31, 2017. “EBITDAS” and “Adjusted EBITDAS” are not standard measures under IFRS. Please refer to the “Non-IFRS measures” section of this release for a description of these [Read More…]

Source: BOE Report

Oil Market Fears: War, Default And Nuclear Weapons

The U.S. is one of the few areas of the world in which there is an energy investment boom underway, a development that could smooth out the uncertainties of geopolitical events around the world. At the same time, outside of the U.S., there is a deterioration of stability in many oil-producing regions, aggravating risks for both oil ...

Source: Oilprice.com

U.S. Ban on Key Oil Material Could Choke Venezuelan Production (Wednesday, 28 February 2018)

The outlook for declining oil production in Venezuela may get grimmer if the U.S. bans supply of a key commodity used to help Venezuelan crude flow from oilfields to the coast.

Production in the Orinoco oil belt, which accounts for half of the country’s output, depends on heavy naphtha imported from the U.S. to reach global markets. Naphtha ...

Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

The Aviation Industry Is Backing Biofuels

The International Air Transport Association has set an ambitious goal for its members: transporting a billion passengers on flights using biofuel by 2025. The goal is a demonstration of IATA’s efforts to help cut carbon dioxide emissions. The aviation industry is a major source of these, after all. Hypothetically, the increased use of biofuels in planes could eat into oil ...

Source: Oilprice.com

Exxon Makes Seventh Oil Discovery Offshore Guyana

ExxonMobil said on Wednesday that it had made its seventh oil discovery offshore Guyana, striking a high-quality, oil-bearing sandstone reservoir that would be developed together with the other giant fields recently discovered in the area and would bring Guyana’s oil production to more than 500,000 bpd. The latest exploration success by Exxon and its partners Hess and CNOOC Nexen came ...

Source: Oilprice.com

Mid-Con Energy Partners, LP Announces Fourth Quarter and Full Year 2017 Operating and Financial Results, 2017 Year End Proved Reserves, and 2018 Guidance

TULSA, Feb. 28, 2018 (GLOBE NEWSWIRE) — Mid-Con Energy Partners, LP (NASDAQ:MCEP) (“Mid-Con Energy” or the “Partnership”) announces operating and financial results for the fourth quarter and full year ended December 31, 2017. “The transactions we have announced and closed over the last few months have secured long term financing, provided new properties for prospective [Read More…]

Source: BOE Report

TORC Oil & Gas Ltd. Announces 2017 Fourth Quarter and Year-End Financial & Operating Results; and 2017 Year-End Reserves

CALGARY, Feb. 28, 2018 /CNW/ – TORC Oil & Gas Ltd. (“TORC” or the “Company”) (TSX: TOG) is pleased to announce financial and operating results for the three month periods and years ended December 31, 2017 and 2016 and to provide 2017 year-end reserves information as evaluated by Sproule Associates Limited (“Sproule”). The associated Management’s [Read More…]

Source: BOE Report

Gastar Exploration Closes Sale of Non-Core Acreage in Oklahoma

HOUSTON, Feb. 28, 2018 /CNW/ — Gastar Exploration Inc. (NYSE American: GST) (“Gastar”) announced today that it has completed the previously announced sale of its interest in the West Edmond Hunton Lime Unit (“WEHLU”) for $107.5 million, adjusted for the effective date of October 1, 2017 and resulting in net cash proceeds of $98.8 million [Read More…]

Source: BOE Report

Kurdish-Iraqi Deal Could Restore Oil Production

Iraq’s oil production could begin to rise after a tentative deal was agreed to by the Kurdish Regional Government and the central government in Baghdad. The two sides reached an accord that is expected to lead to the restart of oil flows through a Kurdish pipeline to Turkey, which has been shut down since last summer. "It was agreed with ...

Source: Oilprice.com

Emails Reveal Trump Admin Mulling Big Oil Plan to Transfer Public Land to States

Gold Butte National Monument, Nevada

During its first year under Donald Trump, the U.S. Department of Interior has coordinated closely with the oil and gas industry to accomplish its priorities on the nation's expansive federal lands. Among them: considering a plan to transfer control of oil and gas development on public lands to the states. This revelation comes from emails and documents obtained by the Western Values ...

Source: DeSmogBlog

Eclipse Resources Corporation Announces Fourth Quarter and Full Year 2017 Results and an Increase in First Quarter 2018 Production Guidance

STATE COLLEGE, Pa.–(BUSINESS WIRE)–Eclipse Resources Corporation (NYSE:ECR) (the “Company” or “Eclipse Resources”) today announced its fourth quarter 2017 and full year 2017 financial and operational results, along with an increase in first quarter 2018 production guidance. In conjunction with this release, the Company has posted an updated investor presentation to its website at www.eclipseresources.com. Fourth [Read More…]

Source: BOE Report

Marksmen Announces Proposed Private Placement

CALGARY, Alberta, Feb. 28, 2018 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSXV:MAH) (OTCQB:MKSEF) announces that it plans to complete a non-brokered private placement of up to 2,857,143 units (the “Units”) of Marksmen at a price of $0.21 per Unit for aggregate gross proceeds of up to a maximum of $600,000 (the [Read More…]

Source: BOE Report

Should OPEC And U.S. Shale Collaborate For Survival?

Oil and gas is a trillion dollar industry, and every actor within it, be it national oil companies, multinationals, independents or oilfield services companies, has a stake in oil and gas flourishing. And now these players face an existential question, how will the industry react to new challenges in the shape of electric vehicles and renewables? Not long ago, technological advancements ...

Source: Oilprice.com

Whitecap Resources Inc. Announces Fourth Quarter, Year End 2017 Results, 2017 Reserves Evaluation and the Appointment of Ken Stickland as Board Chairman

CALGARY, Feb. 28, 2018 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to report its operating and audited financial results for the year ended December 31, 2017. Selected financial and operating information is outlined below and should be read with Whitecap's audited annual consolidated financial statements and related Management's Discussion [Read More…]

Source: BOE Report

Hennessy Funds Named 2018 Lipper Fund Award Winner

NOVATO, Calif., Feb. 28, 2018 /PRNewswire/ — Hennessy Funds today announced that the Hennessy Gas Utility Fund (Investor Class: GASFX) has received the 2018 Lipper Fund Award for best-in-category performance for the 10-year period ended 11/30/17 among 14 Utility Funds.  This marks the seventh consecutive year that the Hennessy Gas Utility Fund has received a [Read More…]

Source: BOE Report

Vogtle 3 & 4 to have lower rate impact for Georgia Power customers

ATLANTA, Feb. 28, 2018 /PRNewswire/ — Georgia Power today filed its 18th Vogtle Construction Monitoring (VCM) Report with the Georgia Public Service Commission (PSC). The 18th VCM Report, available here, includes a revised, lower projected rate impact for customers and outlines continued progress and productivity improvement at the construction site near Waynesboro, Georgia. The report also [Read More…]

Source: BOE Report