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Oil Prices Tank After Doha Output Talks Fail
April 19, 2016
Crude prices have tumbled after the world’s top producers failed to reach an agreement on capping output aimed at easing a global supply glut, sparking fears it could set off another round of price falls. In Asia trading Monday morning,
Magnolia Petroleum Continues to Add New Oil Wells at It Realigns to Low Oil Prices
April 19, 2016
Magnolia Petroleum Plc confirmed it added eleven new wells to its oil production portfolio in the first quarter of 2016. A further eleven wells are currently at various stages of development, it added. Interests in some 46 wells, deemed uneconomic,
TransCanada Signs Agreements with Communities for $5 Billion Gas Pipeline Project, B.C.
April 19, 2016
TransCanada has announced that its Prince Rupert Gas Transmission (PRGT) project has signed project agreements with the Takla Lake First Nation and McLeod Lake Indian Band (MLIB) in British Columbia, Canada. As per the agreements, which bring the total number
Liquefied Natural Gas Receives FERC Approval for Its Natural Gas Terminal, Louisiana
April 19, 2016
Liquefied Natural Gas Ltd’s wholly-owned subsidiary, Magnolia LNG, LLC, has received the Federal Energy Regulatory Commission (FERC) authorization. The authorization is to site, construct, and operate facilities to liquefy and export domestically produced natural gas from its liquefied natural gas
Obama Administration Rolls Out New Sweeping Offshore Drilling Rule
April 19, 2016
The Obama administration issued a suite of offshore drilling safety standards Thursday meant to prevent disasters like the 2010 Deepwater Horizon explosion and spill from occurring in the future. The regulation comes nearly six years after the disaster on a
Cox Oil Offshore Acquires 19 Fields and Associated Assets from Chevron, Gulf of Mexico
April 18, 2016
Cox Oil Offshore, L.L.C. has successfully completed a transaction in which Cox Oil acquired a number of assets in the Gulf of Mexico from Chevron. The acquisition includes 19 fields and associated assets located primarily on the GOM Outer Continental
Aegion & Materia to Commercialize New Pipe Insulation Technology for Shell’s Appomattox Project
April 18, 2016
Aegion Corporation is on schedule to begin this fall pipe coating and the application of an innovative pipe insulation material for use on the Shell Appomattox project. The insulation material vendor for the project, Materia, Inc., is also on schedule
Rice Energy to Acquire Alpha Natural Resources’ Gas Assets for $200 Million
April 15, 2016
Rice Energy Inc. announced it will buy the natural gas assets of bankrupt coal company Alpha Natural Resources Inc. for $200 million if no higher bidders emerge at an auction. The Canonsburg-based oil and gas firm, which once had Alpha’s
Prince Rupert Gas Signs Project Agreements with Takla Lake First Nation and McLeod Lake Indian Band
April 14, 2016
TransCanada Corporation’s Prince Rupert Gas Transmission project (PRGT) has signed project agreements with the Takla Lake First Nation and McLeod Lake Indian Band (MLIB), bringing the total number of project agreements signed on PRGT to 11. The agreements outline benefits
Marathon Oil to Divest U.S. Non-core Assets for $950 Million
April 13, 2016
Marathon Oil has signed agreements to sell certain non-core assets to an undisclosed firm for $950m is a bid to strengthen its balance sheet amid plunging oil price. Under the terms of the deal, the oil and natural gas producer
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