Crude Climbs as Texas Works to Recover from Harvey (Wednesday, 6 September 2017)

Crude oil rose, and gasoline fell to the lowest in more than a week, as Gulf Coast refiners continued their recovery from the devastation of Hurricane Harvey.

Gasoline futures in New York have lost 3.7% since Friday. Valero Energy Corp. returned two Texas facilities to pre-storm rates, Citgo Petroleum Corp. restarted its Corpus Christi refinery and Exxon Mobil Corp. ...

Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

Energy M&A Seen as Merely Slowed as Houston Moves to Recovery (Wednesday, 6 September 2017)

Houston’s devastating floods have slowed but not stopped work by M&A bankers at the epicenter of U.S. energy-sector deals.

“Texans are a resilient lot,” said Tim Perry, global co-head of oil and gas investment banking at Credit Suisse Group AG. “Business is still happening, though no doubt slower.”

Almost $97 billion in U.S. oil- and gas-related mergers ...

Source: The latest Oil and Gas Industry News - from oilandgaspeople.com

What Happens If The OPEC Deal Expires?

OPEC appears to be nervous that its production cut deal will once again fall short, and the group is already discussing the possibility of yet another extension. While the aftermath of Hurricane Harvey continues to drive headlines in the energy sector, the attention will once again shift back to OPEC as the year wears on and we head into 2018. ...

Source: Oilprice.com

North Korean Sanctions May Hurt China’s Oil Giants

Tensions over North Korea’s flexing of its nuclear capabilities over the past few months reached a new peak last weekend when Pyongyang conducted its sixth and most powerful nuclear test so far. South Korea, Japan, and the United States are on high alert, and U.S. President Donald Trump is stepping up his rhetoric aimed at the countries who continue ...

Source: Oilprice.com

Pengrowth Reaches Agreement to Sell Remaining Swan Hills Properties for $150 Million

CALGARY, ALBERTA–(Marketwired – Sept. 6, 2017) – Pengrowth Energy Corporation (the “Company” or “Pengrowth“) (TSX:PGF) (NYSE:PGH) today announced that it has entered into an agreement for the sale of its remaining Swan Hills assets in North Central Alberta for total cash consideration of $150 million, subject to customary adjustments. When combined with the approximate $18 [Read More…]

Source: Headlines – BOE Report

Oil Markets Need To Plan For EV Dominance

There will be more than a billion electric vehicles on the road by 2050, according to Morgan Stanley, adding one more voice to notion that the EV revolution is coming. The investment bank says that despite hiccups for many EV models to date, Tesla’s success thus far “shows that the consumer preference for internal combustion engines can be swayed.” ...

Source: Oilprice.com

Tellurian enters into agreement to acquire core Haynesville acreage, production and midstream assets

HOUSTON, TX–(Marketwired – September 06, 2017) – A wholly-owned subsidiary of Tellurian Inc. (Tellurian) (NASDAQ: TELL) has entered into an agreement with a private seller to acquire natural gas producing assets and undeveloped acreage in northern Louisiana for $85.1 million. The transaction is scheduled to close by the end of November 2017 subject to customary [Read More…]

Source: Headlines – BOE Report

Contractors picked for controversial Trans Mountain pipeline expansion

CALGARY – The company behind the controversial Trans Mountain pipeline expansion says it has picked contractors to work on the project extending between Alberta and British Columbia. Kinder Morgan Canada says it has selected or signed agreements with six firms that have experience in building pipelines and major infrastructure projects in both provinces. The company [Read More…]

Source: BOE Report

Tidewater Midstream and Infrastructure Ltd. Extends and Increases Take-or-Pay Processing Agreement at Brazeau River Complex

CALGARY, Alberta, Sept. 06, 2017 (GLOBE NEWSWIRE) — Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Company”) (TSX VENTURE:TWM) is pleased to announce that in its ongoing effort to maximize utilization and secure long-term volumes it has extended the term of a take-or-pay processing agreement by an additional two years to December 2020 and increased [Read More…]

Source: Headlines – BOE Report