After Poland, Lithuania Becomes U.S. LNG Buyer

Seeking to diversify its gas imports away from Russia’s giant Gazprom, Lithuania’s state-held gas trader Lietuvos Duju Tiekimas said on Monday that it had signed a deal with Cheniere Marketing International to buy LNG directly from the U.S., adding to the growing list of customers of America’s LNG cargoes. The Lithuanian company expects to receive the first LNG cargo ...

Source: Oilprice.com

Penn West Changes Name to Obsidian Energy Ltd. and Announces Voting Results from the 2017 Annual and Special Meeting of Shareholders

CALGARY, June 26, 2017 /PRNewswire/ – PENN WEST PETROLEUM LTD. (TSX – PWT; NYSE – PWE) (“Penn West” “or the Company”) is pleased to announce that our shareholders have approved our name change to Obsidian Energy Ltd., effective immediately. In conjunction with our name change, our stock symbol will be replaced with “OBE” on both the [Read More…]

Source: Headlines – BOE Report

Baytex Provides Operational Update – Q2 2017 Production Up 5%

CALGARY, Alberta, June 26, 2017 (GLOBE NEWSWIRE) — Baytex Energy Corp. (“Baytex”) (TSX:BTE) (NYSE:BTE) is pleased to provide an update on our operational progress during the second quarter of 2017 in accordance with our business plan. Based on field estimates for June, our average production during Q2/2017 is estimated at 72,500 boe/d representing a 5% [Read More…]

Source: BOE Report

PetroShale Announces Closing of Private Placement

CALGARY, ALBERTA–(Marketwired – June 26, 2017) – NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES PetroShale Inc. (“PetroShale” or the “Company”) (TSX VENTURE:PSH)(OTCQX:PSHIF) is pleased to announce the closing of its previously announced private placement to Mr. Mike Wood, the recently appointed President and Chief Executive Officer of [Read More…]

Source: BOE Report

Pioneer’s Sheffield: The Permian And The Rest

WASHINGTON—All manner of challenges begin to hit oil producers when oil prices reach $40 per barrel, said Scott Sheffield, Pioneer Natural Resources’(NYSE: PXD) executive chairman, at the opening of the 2017 Energy Information Administration (EIA) conference on June 26. At sustained $40 oil prices, companies will start to consolidate, even within the Permian Basin. The Bakken, Niobrara and to a ...

Source: Oilandgasinvestor.com Feeds

Kurdistan Targets Saudi Market Share In The U.S.

Kurdish oil is headed for the United States this week, further buttressing the semiautonomous region’s economic independence as Erbil prepares for a referendum on political independence later this year. An estimated 650,000 barrels of oil, mostly extracted from the Kirkuk field located in Kurdistan, departed the Mediterranean Sea on June 20th, according to Bloomberg data. The oil tanker’s route indicated a dash ...

Source: Oilprice.com

PDC Energy Hit With Lawsuit Claiming Clean Air Act Violations

The Trump administration and the state of Colorado sued PDC Energy Inc. (NASDAQ: PDCE) on June 26, claiming the company violated the federal Clean Air Act by allowing unlawful emissions from storage tanks. The lawsuit, filed in U.S. District Court in Colorado by the Department of Justice, Environmental Protection Agency and the state, seeks civil penalties as well as ...

Source: Oilandgasinvestor.com Feeds

The Eagle Ford Rebound Needs $48 Oil

The oil price crash that started in 2014 has affected not only corporate profits and drilling plans. It has had a huge economic impact on the areas around the U.S. shale plays. The 21 counties directly or indirectly involved in production of Eagle Ford in South Texas saw a record-high economic impact of US$123.3 billion in 2014. During ...

Source: Oilprice.com

Obama’s Energy Chief Returns, Citing Leadership Void Under Trump (Monday, 26 June 2017)

While President Donald Trump’s Energy Department is studying how to save coal plants, veterans from the administration of President Barack Obama’s Energy Department announced a new effort to figure out how to curtail carbon in the U.S. energy system.

Ernest Moniz, who was Obama’s Energy secretary, said Wednesday that there is a “leadership void” under Trump, and his new ...

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

Crescent Point Announces Renewal of Credit Facilities

CALGARY, ALBERTA–(Marketwired – June 26, 2017) – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX:CPG)(NYSE:CPG) is pleased to announce that it has successfully renewed its unsecured, covenant-based credit facilities totaling $3.6 billion, with a maturity date extension to June 10, 2020. Crescent Point’s credit facilities provide the Company with significant financial liquidity. As [Read More…]

Source: BOE Report

Statoil Economist Predicts $60 Oil “Relatively Soon”

Oil prices will jump over $60 “relatively soon,” according to Statoil chief economist Eirik Waerness, who spoke to Bloomberg on Monday. According to Waerness, $60 barrel is unlikely to happen as soon as tomorrow, but the goal will be met sooner, rather than later, on a 2050 timeline. A series of “surprises” have affected the recovery of oil prices over ...

Source: Oilprice.com