Energy Financial

Matador Resources focuses on Delaware Basin (Rustler Breaks, Wolfcamp)

Energy Financial

Matador expects its natural gas processing plant to come online Aug, 2016, capable of 60 million cubic feet of natural gas per day DALLAS – Matador Resources Company, an independent energy company, currently focused on its Delaware Basin operations in Southeast New Mexico and West Texas,  provided an update of its ongoing operations. Highlights include the initial results from […]

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Western Petroleum buys Texas Gulf Coast assets to accelerate M&A growth

Energy Financial

Deal includes 73,100 acres with daily production of 15,700 mcfpd and 122 bopd current production IRVING, Texas – International Western Petroleum, Inc. has announced it executed an agreement to purchase all assets of a privately held Houston-based E&P company in the Texas Gulf Coast region. The acquisition, which consists of three phases, includes assets with current

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Luxe Energy announces sale of Southern Delaware Basin assets for $540 million

Energy Financial

19,180 net surface acres in Reeves and Ward counties, approximately 1,000 boe/d of current net production AUSTIN, Texas – Luxe Energy LLC has announced it entered an agreement with an undisclosed third party buyer for the purchase of Luxe’s Southern Delaware Basin leasehold interests and assets for $560 million. Luxe Energy’s assets are primarily operated leasehold interests, the majority

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Energy trader convicted of spoofing sentenced to 3 yrs in jail

Energy Financial

Energy trader Michael Coscia said “I stand here convicted and shamed because of my actions” By Michael Hirtzer and Tom Polansek CHICAGO, July 13 (Reuters) – A U.S. judge sentenced futures trader Michael Coscia to three years in prison on Wednesday, a lighter punishment than prosecutors had sought for the first person criminally convicted of the manipulative

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Southern Company, Kinder Morgan enter natural gas pipeline venture

Energy Financial

“We plan to use all of the proceeds from this transaction to reduce debt at KMI” HOUSTON – Southern Company and Kinder Morgan, Inc. have announced a natural gas pipeline venture designed to “advance both companies’ leadership in energy infrastructure development” through Southern Company’s acquisition of a 50 per cent equity interest in the Southern Natural

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Chesapeake Energy facing another suit over Barnett Shale royalty fees

Energy Financial

Involves oil/gas leases covering more than 5,400 Barnett Shale mineral acres, more than 750 producing gas wells More than 30 business entities and individuals are suing Chesapeake Energy Corp. (NYSE: CHK) based on claims that the company structured a series of contracts in order to receive excessive fees and other charges after the 2009 sale

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Resolute Energy sells Permian Basin mid-stream assets, ready for Delaware Basin expansion

Energy Financial

Sale proceeds will be used to reduce debt, fund development in Delaware Basin Denver-based Resolute Energy has sold gas gathering and water handling systems in Reeves County, Texas to an undisclosed Permian Basin midstream company for up to $110 million. The projects are currently operated by Resolute in its Appaloosa and Mustang project areas, the company said in

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Impact of lower gasoline prices on US household spending – JP Morgan

Energy Financial

Savings are equivalent to half of average month’s rent or mortgage payment WASHINGTON – With US gasoline prices down 25 per cent year over year in 2015, middle income households spent $477 less at the pump, according to a new study by JPMorgan Chase Institute. For every dollar saved from lower gas prices, households decreased their spending on

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TransCanada now one of North America’s largest natural gas transmission businesses

Energy Financial

TransCanada completes acquisition of Columbia Pipeline Group CALGARY, ALBERTA – TransCanada Corporation announced the completion of the transaction to acquire all of the outstanding shares of Columbia Pipeline Group, Inc. for a purchase price of approximately US$13 billion, including the assumption of approximately US$2.8 billion of debt. With the completion of the acquisition, TransCanada will

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