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  • UPSTREAM

    SECTIONS: INTERNATIONAL | NORTH AMERICA

     

    LATEST UPSTREAM NEWS

    Packers Plus acquires ReTek Energy Products

    Nov 28, 2014

    Packers Plus Energy Services (USA) Inc., a wholly owned subsidiary of Packers Plus Energy Services Inc., an innovator of openhole multi-stage completion systems, has acquired Texas-based ReTek Energy Products LLC. 

    Mexco Energy purchases oil and gas properties

    Nov 28, 2014

    Mexco Energy Corp. reports the purchase of various royalty interests ranging from .0018% to 1.1% revenue interests at a price of $580,000 covering  580 wells in 87 counties of eight US states.

    Commentary on OPEC decision not to cut production

    Nov 28, 2014

    Bjørnar Tonhaugen, vice president of Oil & Gas Markets for Rystad Energy, commented on OPEC’s decision on Nov. 27 not to cut current levels of production, which pushed down oil prices. Oil futures traded near a 4½-year low on Nov. 28.

    Update on San Leon Energy operations in Poland

    Nov 26, 2014

    San Leon Energy is extending its licenses to explore for shale gas in northern Poland, according to the Associated Press, as results from its three vertical wells near the Baltic Sea coast encouraged the company to seek an extension to its licenses in the area.

    Fitch: Gas supply near 5-year avg., but less shale drilling a concern

    Nov 26, 2014

    Natural gas storage has largely recovered from the inventory depletions that followed la(t year's polar vortex winter despite the recent burst of cold weather in the US and related drawdown in gas inventories (-17 billion cubic feet), according to Fitch Ratings.

    Foxcode closes $210M bond issuance for US Shale Solutions

    Nov 25, 2014

    Foxcode Inc., a merchant banking firm, has closed a $210 million bond issuance of three-year senior secured notes to form US Shale Solutions Inc. 

    AEPB closes notes offering, acquisition

    Nov 25, 2014

    American Energy – Permian Basin LLC (AEPB), an affiliate of American Energy Partners LP, reports the initial closing of an offering by its immediate parent, American Energy Permian Holdings LLC, of $515 million of 8.0% exchangeable junior subordinated notes due 2022, the net proceeds of which are being contributed to AEPB in exchange for preferred units. 

    PAA to expand Cactus Pipeline takeaway capacity

    Nov 25, 2014

    Plains All American Pipeline LP plans to provide additional pumps to increase the takeaway capacity of the Cactus Pipeline in response to higher regional production forecasts and shipper demand.

    Most Canadian E&Ps can deal with low oil prices for now

    Nov 24, 2014

    In the past few years, strong exploration and production activity has continued as technological advances in horizontal drilling and hydraulic fracturing has led production from unconventional resources to generate high returns. With all this activity has come elevated operations spending, which high oil prices had been able to sustain. But Standard & Poor's Ratings Services says there are problems on the horizon.

    UGI begins service on two Marcellus projects

    Nov 24, 2014

    UGI Energy Services LLC, the midstream and energy marketing subsidiary of UGI Corp., has completed two midstream projects.

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    INTERNATIONAL UPSTREAM

    Carnarvon to explore two permits in Barrow sub-basin

    Jun 5, 2014

    Carnarvon Petroleum Ltd. has been awarded two contiguous blocks on the eastern flank of the prolific oil producing Barrow sub-basin: Petroleum Exploration Permit EP-490 (bid block L11-6) and TP/27 (bid block T11-3) offshore Western Australia. Carnarvon is the operator and 100% working interest holder in these blocks, which cover a total area of 675 square miles (1,750 square kilometers).

    Report predicts surge in world subsea expenditure

    Jun 5, 2014

    Global subsea hardware capex could total $117 billion between 2014 and 2018, according to Douglas-Westwood’s latest market forecast.

    Hitachi Solutions Canada to unveil JV solution for oil and gas industry

    Jun 4, 2014

    Hitachi Solutions Canada, a global provider of industry solutions based on Microsoft Dynamics AX, will be launching an oil and gas joint venture solution using Microsoft Dynamics AX 2012.

    Primoris wins underground contract work valued at over $10 M

    Jun 2, 2014

    Primoris Services Corp. has received a new contract award from a midstream oil and gas customer. The new contract was secured by Sprint Pipeline Services, a division of Primoris Energy Services, a Primoris subsidiary and part of the East Construction Service segment.

    NORTH AMERICA UPSTREAM

    Alpha Crude Connector to conduct open season

    Jun 2, 2014 Alpha Crude Connector LLC intends to conduct an open season for the Alpha Crude Connector pipeline, a new FERC-regulated crude oil transportation pipeline to be located in Lea and Eddy counties in ...

    MicroSeismic names Foster as president and CEO

    May 30, 2014

    MicroSeismic Inc. has appointed Jeff Foster as the company’s president and CEO. Founder of the company and past CEO, Peter M. Duncan, will continue with MicroSeismic as co-chairman.

    KMP to expand carbon-dioxide infrastructure

    May 8, 2014

    Kinder Morgan Energy Partners LP is set to invest $671 million to grow its carbon-dioxide infrastructure in southwestern Colorado and New Mexico.

    TPC Group expands polyisobutylene capacity

    May 1, 2014

    TPC Group, a provider of C4 based products and services, has achieved a milestone in its comprehensive expansion program to increase polyisobutylene capacity.

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