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Frost & Sullivan Report: Digital Transformation Solves Inefficiencies in Oilfield Services
May 5, 2016
The impact of volatile oil prices in the global market have forced oil and gas companies to optimize lifting costs, maximize operational efficiencies and leverage new business models to drive profitability. As the ‘low for long’ scenario continues, it has
Primus Green Energy Signs Offtake Agreement with Tauber Oil for Methanol System in Marcellus Region
May 4, 2016
Primus Green Energy Inc. has signed an offtake agreement with Tauber Oil for its methanol plant at a manufacturing site in the Marcellus shale region. The plant is expected to produce 160 MT of methanol per day beginning in the
Kinder Morgan Abandons Plans to Build $3.3 Billion Northeast Energy Direct Pipeline Project
May 4, 2016
US-based Kinder Morgan’s subsidiary Tennessee Gas Pipeline (TGP) has abandoned its plans to build $3.3bn Northeast Energy Direct (NED) pipeline project as it failed to receive enough natural gas commitments from businesses. The 30-inch, 350 mile long pipeline project was
88 Energy Plans for Next Stage of Development at Icewine Project, Alaska
May 4, 2016
Alaska-focused oil 88 Energy Ltd has spelt out its plans for the next stage of development of its keenly anticipated Icewine project. Earlier this month, managing director Dave Wall described as ‘astounding’ the correlation between projections for its first well,
Con Edison to Acquire 50% Stake in Crestwood’s Gas Pipeline and Storage Assets for $975 Million
May 3, 2016
Electricity and natural gas distribution company Consolidated Edison (Con Edison) has signed an agreement to acquire 50 percent stake in Crestwood Equity Partners’ natural gas pipeline and storage assets located in northern Pennsylvania and southern New York for $975m in
Bill Barrett Corp. Enters Agreement to Divest Certain Uinta Basin Assets for $30 Million
May 3, 2016
Bill Barrett Corporation has entered into an agreement with an unaffiliated third party to sell certain non-core assets located in the Uinta Basin for cash proceeds of approximately $30 million. The transaction is expected to close on or before June
Plains All American Pipeline and Cheniere Energy Enter Long-Term Natural Gas Storage Agreement
May 3, 2016
Plains All American Pipeline, L.P. and Cheniere Energy Partners, L.P. have entered into a 10-year firm storage service agreement with Cheniere Energy Partners’ subsidiary, Sabine Pass Liquefaction, LLC. Under the new agreement, Pine Prairie (subsidiary of Plains All American Pipeline)
Halliburton Terminates $28 Billion Merger Deal with Baker Hughes
May 3, 2016
US based oilfield services provider Halliburton has terminated the proposed $28bn deal to acquire Baker Hughes, a supplier of oilfield services, products, technology and systems to the oil and natural gas industry. The termination of the merger deal, which was
Husky Energy to Divest Stake in Canadian Midstream Assets for $1.3 Billion
May 3, 2016
Canadian oil-and-gas producer Husky Energy has signed an agreement to sell 65 percent interest in its midstream assets in the Lloydminster region of Alberta and Saskatchewan for C$1.7bn ($1.3bn). As per the deal, Husky will sell stakes in the assets,
Texas-based Swift Energy Emerges from Bankruptcy
May 2, 2016
Swift Energy Company has completed its financial restructuring and emerged from Chapter 11. The company officially concluded its reorganization after completing all required actions and satisfying the remaining conditions to its plan of reorganization, which was confirmed by the US
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