Energy Financial

OPEC ministers agree to keep production at current level, above formal ceiling

Energy Financial

OPEC decision will likely drop price of oil VIENNA _OPEC nations decided Friday to keep producing oil at their current high levels, effectively acknowledging their inability to push up crude prices. An attempt to nudge the cost of oil higher would have involved lowering output. Instead, the organization’s endorsement of present output, which is more […]

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National Fuel inks Marcellus Shale drilling JV agreement

Energy Financial

Seneca, IOG will jointly develop up to 80 Marcellus Shale wells located on 10,500 acres in Clermont/Rich Valley area, Pennsylvania. WILLIAMSVILLE, N.Y. – National Fuel Gas Company says it will develop up to 80 Marcellus Shale natural gas wells located on 10,500 acres in Clermont/Rich Valley area, Pennsylvania. Seneca Resources Corporation, National Fuel’s wholly owned exploration and production

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Oil sands cost reductions illustrated by Syncrude 2016 budget

Energy Financial

“Syncrude’s success in reducing its cost structure is exceeding market expectations.” – Kubik Canadian Oil Sands Limited (“COS”) today announced its budget for 2016, demonstrating Syncrude’s competitiveness and resilience in a lower oil price environment; operating and capital costs in 2016 will be down significantly from prior years while still enabling production growth. Syncrude Canada Ltd.

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Kinder Morgan acquires control of Natural Gas Pipeline Company of America

Energy Financial

Kinder Morgan says transaction values NGPL at a total of $3.4 billion HOUSTON, TX – Kinder Morgan, Inc. and Brookfield Infrastructure Partners L.P. today announced a definitive agreement whereby they will jointly acquire, from Myria Holdings, Inc., the 53 per cent equity interest in Natural Gas Pipeline Company of America LLC (NGPL) not already owned by

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Several world leaders say carbon pricing a powerful tool to reduce global warming

Energy Financial

Carbon pricing can “lead to profound changes in our emission patterns” – Chilean president Michelle Bachelet LE BOURGET, France _ One of the smartest ways to fight global warming is putting a price on carbon dioxide pollution, according to key world leaders at the international climate summit, including U.S. President Barack Obama. Either a tax

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Questions arise over Canadian Oil Sands as it lays out 2016 spending plans

Energy Financial

Canadian Oil Sands fighting hostile takeover bid by Suncor Energy CALGARY _ Canadian Oil Sands Ltd., fighting a hostile takeover bid by Suncor Energy, has laid out spending plans and performance targets for next year that it says demonstrate shareholders are well-served under the status quo. Throughout the heated takeover debate, Suncor (TSX:SU) has cast

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Tall City Exploration closes sale agreement worth $803 Million

Energy Financial

Tall City Exploration sold 15,000 acres, 1,400 boepd in Reagan and Crockett Counties, Texas to American Energy in Nov. 2014 MIDLAND, Texas – Tall City Exploration LLC announced today that it has closed an agreement with Moss Creek Resources, LLC to sell substantially all of its exploration and production assets for $803 million. Tall City’s

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