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  • OIL MARKETS

    Welcome to the Oil and Gas Financial Journal's Oil Markets Page containing news reported with the Oil & Gas Financial Industry perspective.

    SECTIONS: OGJ150 | OGFJ100P
    COMPANIES | OIL MARKET WATCH


    Devon Energy Corporation

    Latest Devon Energy News

    IHS CERAWeek 2015: Current share price declines suggest market factoring in oil price recovery

    Battered by the ramifications of rapidly declining oil prices, oil and gas company share prices continued to fall in the first quarter of 2015, but the share price declines have lagged behind the drop in oil prices, suggesting the market is pricing a recovery into the stocks, according to new analysis from IHS.

    EnLink completes VEX acquisition in dropdown transaction with Devon

    EnLink Midstream Partners LP has completed its acquisition of the Victoria Express Pipeline and related truck terminal and storage assets (VEX) from Devon Energy Corp. The transaction is expected to be immediately accretive to the Partnership.

    EnLink to acquire VEX pipeline and assets in dropdown transaction

    EnLink Midstream Partners LP has entered into an agreement to acquire the Victoria Express Pipeline and related truck terminal and storage assets (VEX) from Devon Energy Corp.  

    New Source names new VP of accounting and principal accounting officer

    New Source Energy Partners LP has appointed Amber Bonney as the company's new vice president of accounting and principal accounting officer.

    Devon Energy updates on executive moves for 2015

    Devon Energy Corp. reports that John Richels, the company’s president and CEO, plans to retire next year, effective July 31, 2015. Devon’s board of directors intends to elect Dave Hager, currently COO, to succeed Richels as president and CEO.

    Devon Energy sells $2.3B in US non-core assets to LINN

    As planned, Devon Energy Corp. has agreed to sell all of its non-core US oil and gas properties to Linn Energy for $2.3 billion, or approximately $1.8 billion after tax.

    Building out Permian crude gathering systems - Part 2

    Permian Basin crude producers are currently churning out over 1.5 MMb/d of crude from a basin that has produced oil since the 1920’s but is the center of a recent renaissance. With new production comes new demand for takeaway capacity and between January 2013 and the end of 2015, about 1 million barrels of new pipeline has been constructed or will come online directed towards Houston, Nederland and Corpus Christi, TX.  Today we continue our series on new Permian gathering infrastructure. This episode presents an overview of the mainline pipelines out of the Permian and the current centers of production activity and begins a survey of gathering systems with a new lateral addition to Occidental’s Centurion pipeline.

    Devon sells Canadian conventional assets

    Devon Energy Corp. has completed the sale of its Canadian conventional assets to Canadian Natural Resources Ltd. for C$3.125 billion. The company’s retained Canadian business will consist of its thermal heavy oil, Lloydminster, and Horn River assets.

    OGJ150

    Gulfport Energy names Gaydosik CFO

    Jul 10, 2014 Gulfport Energy Corp. has appointed Aaron Gaydosik to serve as CFO. Most recently, Gaydosik served as vice president of finance at Kodiak Oil &...

    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 ...

    OGFJ100P

    Private company update

    Apr 10, 2015 Independent research firm IHS has provided OGFJ with updated production data for our OGFJ100P periodic ranking of US-based private E&P companie...

    LLOG makes deepwater Gulf of Mexico discovery

    Oct 23, 2014 Covington, LA-based LLOG Exploration and its partner, Ridgewood Energy, drilled a successful exploration test at the Mississippi Canyon 79 “Otis” p...

    Vantage Energy files for $400M IPO

    Jul 8, 2014

    Vantage Energy Inc., a privately-held oil and gas company, plans to raise approximately $400 million in an IPO. 

    Rock Oil increases capital commitment, adds to management

    Jun 10, 2014 Wells Fargo Energy Capital and BNP Paribas have made investments and capital commitments to Rock Oil Holdings LLC. In addition, Rock Oil has named ...

    AEPB acquires Permian leasehold for $2.5B

    Jun 9, 2014 American Energy – Permian Basin LLC, an affiliate of American Energy Partners LP, has signed an agreement to acquire approximately 63,000 net acres...

    Oil & Gas Companies

    Saudi Aramco restructures with creation of supreme board

    Following the January death of Saudi Arabia’s King Abdullah, the country has been reorganizing its energy industry, and this process has included the creation of a supreme board to oversee state-run Saudi Aramco, according to Bloomberg.   &nb...

    LINN plans to close Denver office, eliminate positions

    LINN Energy plans to eliminate 55 positions in Denver, Colorado, and close its office there, according to Fuel Fix, which reported that LINN stated its intentions in a letter to the Colorado Department of Labor and Employment.

    Petrobras discovers oil and gas in Amazon and Espírito Santos basins

    Petróleo Brasileiro SA (Petrobras) has confirmed the discoveries of oil and gas accumulations in Brazil’s Amazon and Espírito Santos basins.

    Gunvor Group to withdraw petition for PA Resources bankruptcy

    Gunvor Group has informed the company that it intends to withdraw its petition for bankruptcy in PA Resources AB.

    Statoil makes second gas discovery in Aasta Hansteen area

    Operator Statoil has, together with PL602 partners, made a gas discovery in the Roald Rygg prospect in the Norwegian Sea. This is the second Statoil discovery in the Aasta Hansteen area in 2015.

    IFR forms subsidiary for Mexico oil and gas initiative

    International Frontier Resources Corp. has formed a Mexican subsidiary, Petro Frontera SAPI de CV, that will allow for the study of, and bidding on, assets in Mexico's initial oil and gas Energy Reform bid round in 2015; the acquisition and partic...

    Calvalley to liquidate due to crisis in Yemen

    Calvalley Petroleum Inc.’s board of directors has decided to restructure and liquidate the company. Subsequently, Calvalley will enter into an arrangement agreement with Calvalley Energy Ltd. (CVE), a wholly owned subsidiary of Calvalley organized...