Vistra Energy Announces Private Offering of $700 Million of Senior Notes

IRVING, Texas, Jan. 22, 2019 /PRNewswire/ — Vistra Energy Corp. (NYSE: VST) (the “Company” or “Vistra Energy”) announced today the launch of a private offering (the “Offering”) of $700 million aggregate principal amount of senior notes due 2027 (the “Notes”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as [Read more]

Source: BOE Report

MEG Energy announces disciplined 2019 capital investment plan, maintains optionality to reach 113,000 bpd in 2020

All financial figures in Canadian dollars ($ or C$) unless otherwise noted CALGARY, Jan. 22, 2019 /CNW/ – MEG Energy Corp. (TSX:MEG) announced today its 2019 capital investment plan and operational guidance. Highlights include: A base capital budget of $200 million, to be fully funded with expected 2019 adjusted funds flow from operations, designed to [Read more]

Source: BOE Report

Range Announces Conference Call to Discuss Fourth Quarter 2018 Financial Results

FORT WORTH, Texas, Jan. 22, 2019 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that its fourth quarter and calendar year 2018 financial results news release will be issued Monday, February 25 after the close of trading on the New York Stock Exchange. A conference call to review the financial results is scheduled on Tuesday, February 26 at 9:00 a.m. ET (8:00 a.m. CT).  To participate in the call, please dial 866-900-7525 and provide conference code 6972159 about 10 minutes prior to the scheduled start time. A simultaneous webcast of the call may be accessed over the internet at www.rangeresources.com.  The webcast will be archived for replay on the Company's...

PG&E Bankruptcy Darkens Outlook For Renewable Energy Investment

The plan for Pacific Gas and Electric (PG&E), the California utility, to enter bankruptcy to manage its $30 billion wildfire liabilities has sent shockwaves through the U.S. energy industry, raising concerns about the outlook for investment in renewable power in the state and beyond. Credit ratings for several businesses that supply power to PG&E were cut sharply last week, potentially raising the cost of capital for the industry and creating additional difficulties for California’s plan to source 100% of its electricity from low-carbon technologies by 2045.

Source: Oilandgasinvestor.com Feeds

Upcoming CAPL Courses and Lunch & Learns

Here is the upcoming list of courses offered by CAPL. For more information, click on a course link below or visit landman.ca Date Course Category Status Jan 29 2019 Surface Rights Law (PSL®) *New Instructor Regulations open Jan 30 2019 Transaction Trends in Oil and Gas Luncheon Acquisitions and Divestments full Feb 05,06 2019 1990 [Read more]

Source: BOE Report

Deep Imaging Names David Moore as President and CEO

TOMBALL, Texas, Jan. 22, 2019 /PRNewswire-PRWeb/ — Deep Imaging, the technological leader in electromagnetic (EM) frac monitoring solutions, welcomes David Moore, formerly President and CEO of GMI Group, as the Company’s new President and CEO. He will assume day-to-day leadership of the Company and will also join Deep Imaging’s Board of Directors. Trevor Pugh, who previously [Read more]

Source: BOE Report

Gazprom and Mitsui discuss Sakhalin II and Baltic LNG

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Masami Iijima, Chairman of the Board of Directors of Mitsui & Co., Ltd., took place in Moscow today.

The parties discussed current issues related to bilateral collaboration, including the Sakhalin II project.

Alexey Miller and Masami Iijima also considered the avenues for further cooperation, paying particular attention to the Baltic LNG project. A joint design concept (pre-FEED) is currently being developed for the project.

Background

Japan’s Mitsui & Co., Ltd. (Mitsui) is one of the world’s most diversified corporations. Its major business areas include the marketing of, and investing in, oil and gas production and processing, as well as energy infrastructure development.

Gazprom and Mitsui are partners in the Sakhalin II project, which includes Russia's first LNG plant. The Sakhalin II operator is Sakhalin Energy Investment Company Ltd.

In December 2016, Gazprom and Mitsui signed the Agreement of Strategic Cooperation. The document envisages collaboration in various areas, including Sakhalin II project expansion and LNG bunkering.

In September 2017, Gazprom and Mitsui inked the Framework Agreement for cooperation on small- and mid-scale LNG.

In September 2018, Gazprom and Mitsui signed the Memorandum of Understanding on the Baltic LNG project.

 



Reuters Insider – Davos Today: Tuesday 2019

Click the following link to watch video: Source: Reuters Insider Description: Interviews with world leaders, policymakers, top CEOs and influential thinkers from the World Economic Forum in Switzerland. Short Link: Video Transcript: Verified transcript not available

Source: BOE Report

E3 Metals Appoints John McNicol as Executive Advisor

Highlights Mr. McNicol brings a wealth of experience in corporate development to E3 Metals advisory board CALGARY, Jan. 22, 2019 /CNW/ – E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the “Company” or “E3 Metals”) is pleased to announce the appointment of Mr. John McNicol to the corporate advisory board as an Executive Advisor. [Read more]

Source: BOE Report

Netherlands should consider locking in future gas imports, says GasTerra CEO

With gas production from the giant onshore Groningen field set to fall to less than 4 Bcm/year in the early 2020s and to be shut in permanently by 2030 – or even earlier – the Netherlands will become increasingly dependent on imports.

For a country used to being a net exporter of gas, the shift will be seismic.

And while the country has enough infrastructure to import gas to meet its future demand, that is not enough to secure gas supplies in the future, Annie Krist, CEO of Dutch gas trader GasTerra, said in an interview late last year.

Instead, stakeholders should think “seriously” about locking in future gas imports, Krist said.

“You need more than pipelines and other facilities to secure supplies. After all, the gas has to be bought and sold as well,” she said.

“Until now, being a net exporter of gas, the country didn’t have to worry about that. Now policy makers and other stakeholders should start thinking how to tackle this issue.”

Supply security

Earlier this year, GasTerra commissioned consultancy IHS Markit to research what policies the Netherlands should follow to ensure gas supply security post-Groningen.

IHS concluded that relying fully on spot gas and LNG purchases to ensure supply security was not advisable.

This, it said, is because it would require full confidence in the reliability and liquidity of the TTF hub and also because Russia’s Gazprom is likely to shift its commercial strategy away from long-term contracts to more spot sales in the Netherlands.

“It would make sense for long-term contracts to maintain some role in Dutch gas supply for the foreseeable future,” IHS said, also pointing to the fact that Europe is in competition over LNG supplies with buyers from all over the world, particularly Asia.

Krist said the advice from IHS should be “taken seriously.”

“According to the report, if nothing changes the Netherlands will cover less than 1% of imports with bilateral long-term import contracts by the mid-2020s,” she said.

“In contrast, it is expected that other countries then will still be relying on a mix of hub trading and long-term import contracts. It seems sensible to us that we find out why.”

At present, however, GasTerra has no “concrete plans” to enter into additional import contracts, Krist said, adding that there is enough time for the Netherlands to adjust to its new reality.

“At the moment we still produce enough gas to meet demand. Our point is that the situation will change in the future. The Netherlands will become a ‘normal’ gas consuming country, just like our neighbors,” she said.

“These countries are used to importing almost all the gas they need. So we thought it made sense to inquire how and where these countries buy their gas. Preferably on the hub or primarily by means of long-term bilateral import contracts?”

Krist said that long-term contracts could be of any length, though she dismissed the likelihood of any very long-term contracts.

“Such decisions always depend on market realities. We don’t expect that the market will return to the kind of (very) long term contracts that existed before gas trade was liberalized. Today, pricing is linked to hub prices, also in bilateral contracts,” she said.

“Green” gas

Krist also said that while there are other measures the Netherlands could take — such as cutting gas demand – the country will remain gas dependent.

“The government has already announced that it wants to lower gas demand by replacing gas with alternative sustainable energy carriers — mainly green electricity, hydrogen, biogas, etc – where that is feasible,” Krist said.

“But we should be realistic. The country still is very dependent on natural gas. No less than 40%. That means that it will probably take decades to phase out gas entirely.”

Go deeper: Dutch offshore wind plans to offset Groningen gas cuts, coal exit by 2030

Krist said green gases also had an ever more important role to play in the future.

“Presently, our country produces approximately 300 million cu m of biogas annually. That is in energy terms roughly the same amount as what all solar panels in the country deliver,” she said.

“We think that potentially 3 Bcm of biogas could be produced in 2030. Also the prospects of hydrogen as fuel and as an alternative power storage solution look pretty good.”

The post Netherlands should consider locking in future gas imports, says GasTerra CEO appeared first on The Barrel Blog.


Source: Platts - The Barrel Blog News Feed

African Markets – Factors to watch on Jan. 22

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – GLOBAL MARKETS Asian shares and U.S. stock futures slipped on Tuesday as pessimism about world growth drove investors away from risky assets, while sterling dithered as the latest plan [Read more]

Source: BOE Report

The World Economic Forum at Davos

World leaders and top CEOs meet at Davos in Switzerland this week to discuss how to steer policy amid worries of slowing economic growth, damaging trade wars and Brexit. Reuters is covering the event with a multimedia team of reporters, photographers and commentators. Follow Reuters coverage of the 2019 WEF here: POLITICS > Gloomy forecast [Read more]

Source: BOE Report