Energy Financial

American Energy Partners enters partnership to tap Mexican oil, gas goldrush

Energy Financial

American Energy Partners: Mexico’s shale fields hold more than 60 billion barrels of unconventional oil Mexico’s energy reforms are attracting American oil and gas companies. The latest is American Energy Partners LP, which announced a partnership with Mexico’s EIM Capital led by former Mexican President Vincente Fox. Mexico’s EIM Capital and an affiliate of Oklahoma City, Oklahoma-based […]

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Oil prices: Biggest one day gain since 2009, but analysts don’t anticipate sustained rally

Energy Financial

Oil prices gain Thursday NEW YORK – Oil prices soared more than 10 per cent Thursday, its biggest one-day gain since March 2009, lifted by resurgent global stock markets and a report showing the U.S. economy grew faster than previously reported in the second quarter. U.S. oil rose $3.96, or 10.3 per cent, to $42.56 in New

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With oil prices below U$40 a barrel, reserve writedowns likely in store

Energy Financial

Low oil prices may mean oilsands crude stays in the ground for years CALGARY – Another wave of ugly news is looming for oil producers already battered by weak oil prices. Every year, companies hire outside evaluators to tally up their reserves, a calculation of how much resource in the ground can be recovered technically and economically. With U.S.

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Are Texas municipal finances threatened by oil bust?

Energy Financial

Fitch Ratings study examines challenges of losing tax revenue for municipalities whose economy relies on oil and gas The recent decline in oil prices has raised the pressure on some cities, counties and single-purpose districts in oil-producing states, according to a new report by Fitch Ratings. According to Fitch, some municipalities will be able to raise taxes and

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West Texas jury says a deal is a deal in $60 million oil leases law suit

Energy Financial

West Texas Tiburon Land claimants awarded $33.1 million verdict, second set of claimants receive $28 million A West Texas jury has awarded more than $60 million to investors who claimed they were defrauded by an Abilene oil man and his co-defendants, according to the lawyer representing one group of claimants. Plaintiffs claimed they shared in the first 30,000 acres of

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Baytex Energy looks to reduce costs in Eagle Ford shale production

Energy Financial

Baytex Energy suspending monthly cash dividend after Sept. 15 Baytex Energy Corp. (TSX:BTE) says it is “recalibrating” its business model by reducing costs in the Texas Eagle Ford shale and stoping drilling in the Peace River and Lloydminster areas in Western Canada for the rest of this year. Baytex Energy announced “difficult but necessary steps” to weather

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Trican sells Russian fracking business, refocuses on USA, Canada

Energy Financial

Trican also terminated operations Australia, suspended business in Colombia, Saudi Arabia International service company Trican Well Service Ltd. has closed of the sale of its Russian pressure pumping business, saying it wants to focus on the North American market. The transaction involves the sale of all shares of Trican Well Service LLC, an indirect wholly-owned subsidiary of Calgary-based

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