BOE Report

Upstream Oil and Gas M&A Deal Count and Asset Transaction Value Plunged in 2015 as Weak, Volatile Oil Market Sidelined Many Buyers and Sellers, IHS Says

HOUSTON--(BUSINESS WIRE)--Despite an ample supply of oil and gas assets on the market due to low oil prices, the overall merger and acquisition (M&A) deal count in the upstream energy sector plunged in 2015 as the weakness and volatility in oil prices made it difficult for buyers and sellers to achieve consensus on value and outlook. These findings come from new analysis by IHS Inc. (NYSE: IHS), the leading global source of critical information and insight. Despite the boost from Shell’s [Read more]

FTTN: Enhanced Oil Recovery Advances Spell Opportunity in Today’s Low Price Environment

LAS VEGAS--(BUSINESS WIRE)--With the price of oil mired in a slump and the industry giants slashing investments, First Titan Corp. (OTCQB: FTTN) believes it has found a way to generate revenue even in a down market. The company notes that researchers at Penn State University have discovered a new means of enhanced oil recovery (EOR) that could outperform existing drilling and recovery techniques, and is interested in cooperating in bringing this new technique to the field. The Penn State team [Read more]

Tortoise Power and Energy Infrastructure Fund, Inc. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Dec. 31, 2015

LEAWOOD, Kan.--(BUSINESS WIRE)--Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today announced that as of Dec. 31, 2015, the company’s unaudited total assets were approximately $185.7 million and its unaudited net asset value was $134.7 million, or $19.37 per share. As of Dec. 31, 2015, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act). The company’s asset coverage ratio under the 1940 Act with respect to senior [Read more]

Tortoise Energy Independence Fund, Inc. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Dec. 31, 2015

LEAWOOD, Kan.--(BUSINESS WIRE)--Tortoise Energy Independence Fund, Inc. (NYSE: NDP) today announced that as of Dec. 31, 2015, the company’s unaudited total assets were approximately $253.2 million and its unaudited net asset value was $190.8 million, or $13.14 per share. As of Dec. 31, 2015, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act). The company’s asset coverage ratio under the 1940 Act with respect to senior securities [Read more]

Tortoise MLP Fund, Inc. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Dec. 31, 2015

LEAWOOD, Kan.--(BUSINESS WIRE)--Tortoise MLP Fund, Inc. (NYSE: NTG) today announced that as of Dec. 31, 2015, the company’s unaudited total assets were approximately $1.4 billion and its unaudited net asset value was $874.4 million, or $18.60 per share. As of Dec. 31, 2015, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with respect to [Read more]

Tortoise Energy Infrastructure Corp. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Dec. 31, 2015

LEAWOOD, Kan.--(BUSINESS WIRE)--Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that as of Dec. 31, 2015, the company’s unaudited total assets were approximately $2.6 billion and its unaudited net asset value was $1.4 billion, or $28.79 per share. As of Dec. 31, 2015, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with [Read more]

Tortoise Pipeline & Energy Fund, Inc. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Dec. 31, 2015

LEAWOOD, Kan.--(BUSINESS WIRE)--Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) today announced that as of Dec. 31, 2015, the company’s unaudited total assets were approximately $241.5 million and its unaudited net asset value was $166.7 million, or $16.64 per share. As of Dec. 31, 2015, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with [Read more]

ExxonMobil Contributes to North Texas Tornado Recovery and Relief Efforts

IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) announced today that it will donate $100,000 to the American Red Cross to provide disaster relief assistance in response to the recent tornadoes in north Texas. “Our thoughts are with all who have been impacted by the devastating tornadoes, and especially with the families who lost loved ones during the holiday season,” said Rex W. Tillerson, chairman and chief executive officer. “We hope that this donation to the Red Cross [Read more]

Lillian S. Harris Joins Post & Schell’s Energy & Utilities Group in Harrisburg as Principal

HARRISBURG, Pa.--(BUSINESS WIRE)--Post & Schell, P.C. is pleased to announce that Lillian Harris has joined the Firm as a Principal in its Energy & Utilities Practice Group, resident in the Firm’s Harrisburg, PA Office. Ms. Harris has over 25 years of industry, government, and private practice experience in energy and utility industry-specific legal matters, including regulatory and transactional matters, Marcellus Shale matters, as well as government affairs and legislative experience. She also [Read more]

Energy CFOs Expect a Run on Distressed Assets in 2016

CHICAGO--(BUSINESS WIRE)--As 2016 begins, the energy industry remains uncertain of when the sector will turn around—and companies are taking steps to streamline operations until prices begin to recover. With 85 percent of U.S. oil and gas chief financial officers (CFOs) predicting low oil and gas prices to be their greatest financial challenge in 2016, many energy companies are looking to tighten their belts by selling off assets. According to BDO USA LLP's annual Energy Outlook Survey, 75 [Read more]