American Midstream Enters Definitive Agreement to Sell Refined Products Terminals

HOUSTON, Feb. 20, 2018 /PRNewswire/ — American Midstream Partners, LP (NYSE: AMID) (“AMID” or “Partnership”) today announced it has entered into a definitive agreement for the sale of its refined products terminalling business (the “Refined Products Terminals”) to DKGP Energy Terminals LLC, a joint venture between Delek Logistics Partners, LP and Green Plains Partners LP, [Read More…]

Source: BOE Report

Return Energy Announces Casing of Initial Well and Commencement of Drilling at Second Well at Rycroft

CALGARY, Feb. 20, 2018 /CNW/ – Return Energy Inc. (“Return” or the “Company”) (TSX-V: “RTN”), through its wholly-owned subsidiary, Winslow Resources Inc. (“Winslow“), is pleased to announce that drilling operations at its Rycroft 100/14-27-076-06W6/00 well have wrapped up and production casing has been run in the wellbore. The 14-27 well is a step-out well to [Read More…]

Source: BOE Report

Torchlight Announces Reaching Total Depth on Its first Horizontal Test Well in the Orogrande Basin

PLANO, TX–(Marketwired – February 20, 2018) – Torchlight Energy Resources, Inc. (NASDAQ: TRCH) (“Torchlight” or “the Company”), today announced that its University Founders A25 1H well has reached total depth with a 1000-foot lateral leg in the primary pay zone from a 5500-foot vertical depth. The well has been cased and cemented and is awaiting [Read More…]

Source: BOE Report

Noble Midstream Partners Announces 2018 Capital Budget and Guidance

Extends Annual 20% Distribution per Unit Organic Growth Target and Financial Outlook through 2022 HOUSTON–(BUSINESS WIRE)–Noble Midstream Partners LP (NYSE: NBLX) (“Noble Midstream” or the “Partnership”) today announced its 2018 capital budget and guidance as well as an updated long-term outlook through 2022. 2018 Guidance Highlights include: GAAP Net Income of $220 – $260 million [Read More…]

Source: BOE Report

Noble Energy Provides Updated Outlook Through 2020 Focused on Cash Flow Growth and Shareholder Return

Houston, Feb. 20, 2018 (GLOBE NEWSWIRE) — Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or the “Company”) today provided an updated outlook through 2020, including detailed guidance for 2018.  Outlook Through 2020 The Company provided an updated outlook through 2020, including scenarios at a $50 per barrel WTI oil price with $3 Henry Hub natural [Read More…]

Source: BOE Report

Crestwood Announces Fourth Quarter 2017 Financial and Operating Results; Provides 2018 Growth Outlook

Solid execution in 2017 delivers full-year results at top-end of increased guidance ranges Bakken, Delaware Basin and Powder River Basin G&P expansion projects and producer activity drive meaningful cash flow growth in 2018 2018 Adjusted EBITDA range of $390 million to $420 million; implies 10% mid-point year-over-year growth1 Growth capital of $250 million to $300 [Read More…]

Source: BOE Report

Noble Energy Announces Fourth Quarter and Full-Year 2017 Results

HOUSTON, Feb. 20, 2018 (GLOBE NEWSWIRE) — Noble Energy, Inc. (NYSE:NBL) (“Noble Energy” or the “Company”) today announced fourth quarter and full-year 2017 financial and operating results.  Highlights include: Strengthened the balance sheet through non-core asset divestitures and retired approximately $570 million of Noble Energy debt in the fourth quarter. Delivered record quarterly U.S. onshore [Read More…]

Source: BOE Report

Noble Energy Increases Proved Reserves 37 Percent to Total Nearly 2 BBoe

Houston, Feb. 20, 2018 (GLOBE NEWSWIRE) — Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or the “Company”) today announced total proved reserves of 1.965 billion barrels of oil equivalent as of December 31, 2017, a net increase of 528 million barrels of oil equivalent (MMBoe) versus year-end 2016.  Organic reserve additions, comprised of extensions, discoveries [Read More…]

Source: BOE Report

Tanzania’s new mining law will compel foreign companies to boost local financial firms

Mine workers sit around a pit where three of their colleagues remained trapped underground after floods swept through pits in Manyara region, which is the only place where the blue gemstone tanzanite is found in Tanzania March 31,2008. Hopes are slim of finding 66 miners trapped in gemstone pits that flooded in northern Tanzania over the weekend, a local legislator said on Monday. Rescue workers have said they found several bodies on Sunday in the privately-owned mine in Mererani, which was flooded on Saturday after a heavy seasonal downpour.

Tanzania is set to overhaul its extractive industry after the government passed a new law that posits strict guidelines for foreign companies.

The new law gives companies three months to comply with the regulations, while also making them apprise the government of how they are enacting these changes. As part of reform, the government wants to enhance the competitiveness of ...

Source: Energy Shocks – Quartz

Energy XXI Gulf Coast Announces 2018 Capital Budget

HOUSTON, Feb. 20, 2018 (GLOBE NEWSWIRE) — Energy XXI Gulf Coast, Inc. (“EGC” or the “Company”) (NASDAQ:EXXI) today announced that its Board of Directors has approved a 2018 capital expenditure budget in the range of $145 million to $175 million, which includes funding of EGC’s most active drilling program since 2014, as well as recompletions, [Read More…]

Source: BOE Report

Holly Energy Partners, L.P. Reports Fourth Quarter Results

DALLAS–(BUSINESS WIRE)–Holly Energy Partners, L.P. (“HEP” or the “Partnership”) (NYSE:HEP) today reported financial results for the fourth quarter of 2017. Net income attributable to Holly Energy Partners for the fourth quarter was $86.1 million ($0.96 per basic and diluted limited partner unit) compared to $41.4 million ($0.40 per basic and diluted limited partner unit) for [Read More…]

Source: BOE Report

Abraxas Provides Reserve and Operational Update

SAN ANTONIO–(BUSINESS WIRE)–Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (NASDAQ:AXAS) today provided the following reserve and operational update. Highlights include: Total proved reserves as of December 31, 2017 of 65.9 MMBoe up 21.2 MMBoe or 47.5% Proved developed producing (“PDP”) reserves grew 48.5% to 20.7 MMBoe PV-10 (1) of $425.9 million using SEC 12-month average [Read More…]

Source: BOE Report

We caught up with some of the 2017 Global Petroleum Show Award Winners – here’s where they are now

Since the launch of the Global Petroleum Show Awards in 2014, the program has shined a spotlight on technological advancements and environmental initiatives in the energy industry on a global stage at the annual conference and exhibition. Through one of the most impactful oil price downturns in history, the program continued to celebrate the successes [Read More…]

Source: BOE Report

B.C. challenges Alberta’s ban on wine over pipeline expansion dispute

VANCOUVER – The British Columbia government has launched a formal challenge against Alberta’s ban on its wines. B.C. said Monday it has notified Alberta that it is formally requesting consultations under the Canadian free trade agreement’s dispute settlement process. Trade Minister Bruce Ralston said Alberta’s actions threaten the livelihood of the families that have worked [Read More…]

Source: BOE Report

N.L. unveils plan for faster, cheaper offshore oil and gas development

ST. JOHN’S, N.L. – Cash-strapped Newfoundland and Labrador has launched a 12-year plan to speed and increase offshore oil and gas development while drawing coveted global investment. The province will review regulations, enhance seismic data and advance cost-saving tie-back technology to extract more from existing sites. Its goal is to double overall production to more [Read More…]

Source: BOE Report

How Tamil Nadu became one of the world’s leading renewable energy markets

India-renewable energy

The southern Indian state of Tamil Nadu is one of the top nine markets globally to have achieved an exceptionally large share of renewable power generation, according to a report by US-based think-tank Institute for Energy Economics and Financial Analysis (IEEFA).

The IEEFA studied the top 15 countries or power markets worldwide by their share of wind and solar energy—the ...

Source: Energy Shocks – Quartz