Energy Financial

BlueStone acquires Quicksilver’s US assets, 1,000 producing wells in Barnett Shale

Energy Financial

Barnett Shale acquisitions coupled with its South Texas holdings, BlueStone will have net production of more than 180 MMCFE per day TULSA, Okla. – BlueStone Natural Resources II, LLC has announced that it has closed on the purchase of Quicksilver Resources Inc.’s U.S. oil and gas assets, 1,017 producing wells in the Barnett Shale play, with additional […]

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MDU Resources completes sale of oil and natural gas assets

Energy Financial

The company expects to reinvest proceeds in excess of debt repayments into its other business units, including the utility operations’ $1.5 billion, five-year capital expenditure program BISMARCK, North Dakota – MDU Resources Group, Inc. announced today that it has finalized the sale of its last marketed oil and natural gas production property. This completes the sale of

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Halliburton, Baker Hughes to contest Justice Dept. block of merger

Energy Financial

Halliburton and Baker Hughes claim merger will provide better services to customers, helping to lower oil and gas production costs HOUSTON, Texas – Halliburton and Baker Hughes have announced that the companies intend to vigorously contest the US Department of Justice’s effort to block their pending merger. The companies said in a press release that they

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Schlumberger completes merger with Cameron

Energy Financial

Schlumberger claims merger results in oil and gas industry’s first complete drilling and production systems HOUSTON, Texas – Schlumberger Limited announced Monday that it has closed its merger with Cameron International Corporation. As previously announced, each Cameron stockholder is entitled to receive 0.716 shares of Schlumberger common stock and $14.44 in cash, in exchange for each Cameron share.

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Oil, gas companies lead 2015 credit rating downgrades – Fitch Ratings

Energy Financial

Pressure from lower-for-longer oil, gas prices has weakened credit profiles beyond Fitch’s original expectations NEW YORK – According to Fitch Ratings, energy (oil and gas) and natural resource companies made up 33 per cent of credit rating downgrades, excluding sovereign related, during 2015. Persistently weak oil prices have continued to lead to CAPEX reductions or delays and have been

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Houston-based Vertex Energy reduces debt, slows net loss in 2015 financial report

Energy Financial

“We believe that the industry in 2016 will continue to feel the pressures that made 2015 difficult.” – Vertex CEO Cowart Vertex Energy, Inc., an environmental services company that recycles industrial waste streams and off-specification commercial chemical products, announced today its financial results for the three and twelve months ended Dec. 31, 2015. “We continue

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Range Resources closes sale of Marcellus shale asset

Energy Financial

Range Resources sold working interest of 23% covering 10,900 net acres with net production of 22 Mmcf per day FORT WORTH, TX – Troubled oil and gas producer Range Resources Corporation today announced that it has completed the sale of its Bradford County, Pennsylvania non-operated assets. After purchase price adjustments based upon a Jan. 1st effective date,

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EP Energy sells Texas, LA shale production for $420 million to Covey Park Energy

Energy Financial

Daily production will increase to 200mmcf/day, total proved reserves will be 2 TCF Covey Park Energy LLC says it is buying all of EP Energy’s assets located in the Haynesville and Bossier shales, located in East Texas and Western Louisiana. Covey Park Gas LLC, a subsidiary of the Dallas-based independent oil and gas exploration and production company,

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Venoco files voluntary Chapter 11, reaches agreement with lenders

Energy Financial

Venoco says it will continue normal operations and meet its financial obligations throughout restructuring process DENVER, CO – Venoco, Inc. has announced that it has reached an agreement with its senior lenders to reduce the company’s debt load and restructure the balance sheet. “Today’s announcement represents another significant step in our ongoing efforts to address the challenges

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