OIL MARKETS

Welcome to the Oil and Gas Financial Journal's Oil Markets Page containing news reported with the Oil & Gas Financial Industry perspective. Read the topic's highlights in the sections on this page below ro click on the sub-category you're interested in. 

SECTIONS: OGJ 150 | OGFJ 100P
COMPANIES | OIL MARKET WATCH

More Oil Market News

Nigerian oil firm Seplat debuts; valued at $1.9 B

Nigerian oil and gas firm Seplat has offered 26.4% of its shares in a combined market debut in Lagos and London that values the group at $1.9 billion, according to a Reuters report.

Cunningham Energy plans ‘Dragon’s Breath’ horizontal well program

Cunningham Energy LLC is planning three additional new shallow horizontal oil wells to be drilled in Clay County, West Virginia, from the “Dragon’s Breath” pad, with specified measured depths ranging from 4,750 feet to 5,200 feet.

L&L Energy to voluntarily delist from NASDAQ

L&L Energy Inc., a US-based company with energy (coal) operations in China, has notified NASDAQ Stock Market LLC of its intention to voluntarily delist its common stock (LLEN) from the NASDAQ.

Weatherford to move headquarters to Ireland

Weatherford International Ltd. has made plans to move its corporate headquarters from Switzerland to Ireland, after the Swiss government handed investors authority to rein in top-level executive pay.

Fiscal break-even oil prices for major OPEC members

One of the key drivers of the oil markets is the price at which principal OPEC producers balance their government accounts – better known as fiscal break-even oil prices. By monitoring the fluctuations of these break-even prices in major oil-producing countries such as Saudi Arabia, Iran, Iraq, Kuwait and the UAE, we can assess potential changes in OPEC’s desired level of global oil prices.

Cantex Energy announces new president, headquarters

Cantex Energy Corp. reports that its board of directors has hired Paul Henley as CEO and president. Additionally, the company’s corporate headquarters will be moved to Dallas, Texas.

Weatherford to cut back Venezuela operations

This year, Weatherford International Ltd. plans to reduce its operations in Venezuela, while expanding its operations in Russia, according to Reuters.

Wood Mackenzie: US tight oil market too robust to bust

Today, at the American Fuel & Petrochemical Manufacturers annual conference in Orlando, Florida, Wood Mackenzie says there are a number of ways the North American tight oil boom can go bust as the industry continues to wonder how long this trend will last. A drop in global oil price levels (a collapse in the price of Brent due to emerging market down-turn for example) or a significant widening of the differential between global oil prices and inland realizations are some of the reasons the energy research firm highlights.

Oil Basins receives grant for Derby Block

The Western Australian Department of Mines and Petroleum has confirmed to Oil Basins Ltd. that the grant of the Derby Block (formerly 5/07-EP), as Permit EP 487, has been made for a period of six years.

Audubon launches new Opero Energy division

Audubon has launched its new products division, Opero Energy, which is dedicated to delivering integrated processing products to the oil and gas markets.

Petronas and Shell find oil in Limbayong field offshore Sabah

Malaysia's national oil and gas company Petroliam Nasional Berhad (Petronas) and Royal Dutch Shell plc have made an oil discovery offshore Sabah, Malaysia.

Challenges for professional landmen

Petrobras confirms deepwater discovery in Potiguar Basin

Petrobras reports that it has completed drilling wildcat well 1-BRSA-1205-RNS (1-RNS-158) in the deep waters of the Potiguar Basin. The results confirm the discovery of intermediate oil (24º API), as previously announced to the market on Dec. 17, 2013.

Could you be a commodity trading advisory or commodity pool operator and not know it?

As the CFTC Division of Swap Dealer and Intermediary Oversight recently reminded market participants in a Staff Advisory, entities that meet the definition of a commodity trading advisor are subject to various regulatory requirements and may be required to register as a CTA with the National Futures Association. The Staff Advisory is an indication that the CFTC is turning to compliance with its regulatory and registration requirements now that the rulemaking process of the Dodd-Frank Act is finishing. Given this transition, as well as the recently expanded scope of the CFTC’s regulatory oversight over CTAs and commodity pool operators), entities that advise others or are pooled investment vehicles for futures, options, or swaps should consider whether they might be subject to the CFTC’s CTA and CPO regulatory requirements.

Chesapeake seeks alternatives for oilfield services division

Chesapeake Energy Corp. announced Feb. 24 that the company is pursuing strategic alternatives for its oilfield services division, Chesapeake Oilfield Services, including a potential spin-off to Chesapeake shareholders or an outright sale.

OGJ 150

Revenue, net income show small increases in 4Q2012

May 1, 2013 Revenues for the group of publicly-traded US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal grew in the final...

Helix completes sale of oil and gas business

Feb 6, 2013 Helix Energy Solutions Group Inc.has closed the previously announced sale of Energy Resource Technology GOM Inc. (ERT), the company’s oil and gas s...

Revenue, net income drop sharply in 3Q12

Feb 1, 2013 Revenues for the group of publicly-traded US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal continued their d...

WPX Energy makes natural gas discovery in Niobrara formation

Jan 23, 2013 Tulsa, OK-based oil and gas exploration and production company WPX Energy said January 22 that a recent Niobrara gas discovery in western Colorado ...

Helix to divest oil and gas subsidiary to grow well intervention business

Dec 13, 2012 International offshore energy company Helix Energy Solutions Group Inc. has agreed to sell its oil and gas subsidiary to privately-held upstream oi...

OGFJ 100P

FourPoint raises $1B in capital, partners with EnerVest in Anadarko Basin

Jan 31, 2014 FourPoint Energy LLC has acquired certain producing and undeveloped oil and gas properties and related midstream assets in the Western Anadarko Bas...

OGFJ100P company update

Jul 11, 2013 Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P compa...

Maverick Brothers Energy gets $35M in equity capital from Post Oak Energy

Apr 8, 2013 Post Oak Energy Capital LP, through investment partnerships it manages, has commitment of $35 million in equity capital to privately held explorati...

Midstates Petroleum to acquire Anadarko Basin assets from Panther Energy

Apr 4, 2013

OGFJ100P company update

Jan 1, 2013 Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P compa...

Oil & Gas Companies

Cunningham Energy plans ‘Dragon’s Breath’ horizontal well program

Cunningham Energy LLC is planning three additional new shallow horizontal oil wells to be drilled in Clay County, West Virginia, from the “Dragon’s Breath” pad, with specified measured depths ranging from 4,750 feet to 5,200 feet.

L&L Energy to voluntarily delist from NASDAQ

L&L Energy Inc., a US-based company with energy (coal) operations in China, has notified NASDAQ Stock Market LLC of its intention to voluntarily delist its common stock (LLEN) from the NASDAQ.

Weatherford to move headquarters to Ireland

Weatherford International Ltd. has made plans to move its corporate headquarters from Switzerland to Ireland, after the Swiss government handed investors authority to rein in top-level executive pay.

Cantex Energy announces new president, headquarters

Cantex Energy Corp. reports that its board of directors has hired Paul Henley as CEO and president. Additionally, the company’s corporate headquarters will be moved to Dallas, Texas.

Weatherford to cut back Venezuela operations

This year, Weatherford International Ltd. plans to reduce its operations in Venezuela, while expanding its operations in Russia, according to Reuters.

Oil Basins receives grant for Derby Block

The Western Australian Department of Mines and Petroleum has confirmed to Oil Basins Ltd. that the grant of the Derby Block (formerly 5/07-EP), as Permit EP 487, has been made for a period of six years.

Petronas and Shell find oil in Limbayong field offshore Sabah

Malaysia's national oil and gas company Petroliam Nasional Berhad (Petronas) and Royal Dutch Shell plc have made an oil discovery offshore Sabah, Malaysia.

Top 10 Year-to-Date Production ranked by BOE
(as published in January 2014)

Rank
Company
BOE
1 Samson Investment Co. 32,181,116
2 Merit Energy Co.
29,824,995
3 Hilcorp Energy Co.
28,295,998
4 GeoSouthern Energy Corp.
23,714,996
5 Yates Petroleum Corp.
15,897,286
6 Mewbourne Oil Co.
15,330,821
7 LLOG Exploration Co. 12,205,680
8 Endeavor Energy Resources
11,376,893
9 Sheridan Production Co. LLC
11,117,132
10 Bass Companies
10,975,209

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