According to IHS worldwide deal count fell by 50% in 2015 to lowest level since 2001 Despite an ample supply of oil and gas assets on the market due to low oil prices, the overall merger and acquisition (M&A) deal count in the upstream energy sector plunged in 2015 as the weakness and volatility in
Upstream oil, gas M&A deals plunged in 2015 Read More »
Pioneer Natural Resources expects 2015 production growth of 12% compared to 2014, increase from previous guidance of 11% Pioneer Natural Resources says it produced more oil than forecast earlier and the company is raising $1.4 billion, partly to continue developing West Texas fields. “The performance from our Spraberry/Wolfcamp horizontal drilling program continues to be outstanding,” said
Pioneer Natural Resources produces more oil in 2015 than forecast Read More »
Intelligent Pipeline Solution uses Industrial Internet to integrate wide range of data from internal and external sources A northeast energy company operating 15,000 miles of pipelines in the Marcellus and Utica shale regions is the first to deploy a “breakthrough software solution” that relies on the Industrial Internet to increase the safety and integrity of pipelines.
Industrial Internet is backbone of GE/Accenture’ new intelligent pipeline solution Read More »
US crude oil imports fell to lowest level since 1995. Canada, Saudi Arabia, Venezuela, Mexico main sources of imports Crude oil prices ended 2015 below $40 per barrel (b), the lowest level since early 2009, according to the US Energy Information Administration. Spot prices for the international crude oil benchmark Brent averaged $52/b in 2015, 53
Crude oil prices started 2015 relatively low, ended the year lower Read More »
By 2020 natural gas will account for 66% of Texas electricity generation Activists who want to stop oil and gas production across the country have often claimed that natural gas will somehow “crowd out” renewables. But new data from the Energy Information Administration (EIA), once again, completely debunks that point. According to EIA’s database, Texas
Texas number one in natural gas, wind power generation Read More »
11 people died during Dec. 26 EF-4 tornado, which is second most powerful storm with winds up to 200 mph IRVING, Texas – Exxon Mobil Corporation says it will donate $100,000 to the American Red Cross to provide disaster relief assistance in response to the recent tornadoes in north Texas. “Our thoughts are with all
Exxon Mobil contributes to north Texas tornado relief Read More »
Tallgrass Energy Partners now owns 98% of Pony Express Pipeline LEAWOOD, Kan. – Tallgrass Energy Partners, LP announced today that it is acquiring an additional 31.3 per cent interest in Tallgrass Pony Express Pipeline, LLC for $475 million cash and 6.518 million TEP common units issued to Tallgrass Development. “This acquisition demonstrates our continued commitment to
Tallgrass Energy ups stake in Pony Express Pipeline Read More »
Swift Energy had to take action in response to the significant reduction in oil and gas prices that the entire industry has been facing. Swift Energy Company has announced it is filing a Chapter 11 plan of reorganization and is converting debt to equity under a restructuring support agreement signed Monday. The company says it has reached
Houston-based Swift Energy files for bankruptcy, begins restructuring Read More »
BDO surveyed 100 CFOs at US oil and gas E&P companies nationwide Sept. through Nov. 2015. A new survey of chief financial officers shows that oil and gas companies with healthy balance sheets will likely be gobbling up their smaller competitors in the coming year. With 85 per cent of CFOs predicting low oil and gas prices to be their greatest
Oil and gas CFOs expect run on distressed assets in 2016 Read More »
Customers have executed contracts totaling 360,000 b/d that will ramp up over next 4 years HOUSTON, Texas – Enterprise Products Partners L.P. says it has completed construction, commissioned, and initiated operation of the remaining 162-mile portion of the Aegis ethane pipeline from Lake Charles, Louisiana to the Napoleonville, Louisiana area. The 270-mile, 20-inch diameter Aegis system originates at
Enterprise Products completes Aegis pipeline from Texas to Louisiana Read More »
