BOE Report

Cation Capital Comments on Crescent Point’s Urgent Need for New Leadership to Unlock Billions of Stranded Value

Entrenched, Self-Interested Board Has Overseen Decline of Share Price to its Lowest to Date Cation Calls for Company to Install New Independent Leadership to Initiate Formal Value Maximization Process Cation Committed to Holding the Board and Management Accountable for the Company’s Continued Value Destruction CALGARY, Alberta--(BUSINESS WIRE)--$CPG #CPG--Cation Capital Inc. (together with its affiliates and associates, “Cation Capital” or “Cation”), a private investment firm that continues [Read more]

Midstates Petroleum Announces Second Amendment to Senior Secured Credit Agreement

TULSA, Okla.--(BUSINESS WIRE)--Midstates Petroleum Company, Inc. (“Midstates” or the “Company”) (NYSE: MPO) today announced that the Company has amended its Senior Secured Credit Agreement effective November 16, 2018. This amendment improves the Company’s financial flexibility by removing certain restrictions for cash payments pertaining to share repurchases and dividends. The amendment imposes a minimum liquidity requirement of $50 million and states [Read more]

Eagle LNG Receives Positive Review In Draft Environmental Impact Statement

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Eagle LNG Partners (“Eagle LNG”) meets a major milestone for their Jacksonville Export Project. The United States Federal Energy Regulatory Commission (FERC) granted the company their draft environmental impact statement (DEIS). The draft EIS puts Eagle LNG on a clear path to FID on the Jacksonville Export Project and continues Eagle LNG’s success in using small-scale LNG to supply bunkering to the marine industry and to [Read more]

Matador Resources Company Commences Registered Exchange Offer for Previously Issued 5.875% Senior Notes Due 2026

DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) is offering to exchange up to $1.05 billion of its outstanding 5.875% Senior Notes due 2026, which were privately placed on August 21, 2018 and October 4, 2018 (the “Notes”), for a like principal amount of 5.875% Senior Notes due 2026 that have been registered under the Securities Act of 1933, as amended (the “Securities Act”). The exchange notes are being [Read more]

Falling U.S. Petroleum Imports Because of Shale Boom Lowered the U.S. Merchandise Trade Deficit by $250 Billion From What It Would Have Been Otherwise

United States is now on track to become a net exporter of petroleum for the first time since at least 1949 with additional trade deficit gains expected WASHINGTON--(BUSINESS WIRE)--The boom in U.S. oil and gas production over the past decade has exerted a moderating force on what is a large domestic merchandise trade deficit by helping reduce the country’s net petroleum imports, a new report by business information provider IHS Markit (Nasdaq: [Read more]

Husky Energy Deploys Ambyint’s AI Technology across Rainbow Lake Field and Demonstrates Impact That IIoT Can Have on Operational Excellence in Oil & Gas

CALGARY, Alberta--(BUSINESS WIRE)--#AI--Ambyint, the emerging leader in AI-driven artificial lift and production optimization, in conjunction with Spartan Controls, Western Canada’s leading provider of industrial automation, today announced Husky Energy’s commitment to deploy its technology on all its wells in Rainbow Lake. The announcement comes after successful pilot deployments of Ambyint’s IIoT (Industrial Internet of Things) -enabled edge controllers and leading to full field [Read more]

Phillips 66 Partners Announces Expansion Open Season for West Texas Service with the Gray Oak Pipeline

HOUSTON--(BUSINESS WIRE)--Phillips 66 Partners (NYSE: PSXP) announces that Gray Oak Pipeline, LLC (“Gray Oak”) is launching a binding expansion open season to solicit shipper commitments for services from West Texas. The expansion open season will provide an opportunity for interested shippers to secure long-term crude oil transportation with the Gray Oak Pipeline under binding transportation services agreements. The expansion includes new [Read more]

Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System; Phillips 66 Announces Open Season for Cushing Crude Oil Pipeline System

HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) and Bridger Pipeline LLC announce a joint open season for the proposed Liberty Pipeline, which will provide shippers the opportunity to secure crude oil transportation service from the Rockies and Bakken production areas to Corpus Christi, Texas. The Liberty Pipeline is expected to have an initial throughput capacity of 350,000 barrels per day (BPD) with the ability to expand further depending on shipper [Read more]

Baker Hughes Announces October 2018 Rig Counts

HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for October 2018 was 1,017, up 13 from the 1,004 counted in September 2018, and up 66 from the 951 counted in October 2017. The international offshore rig count for October 2018 was 207, up 3 from the 204 counted in September 2018, and up 3 from the 204 counted in October 2017. The average U.S. rig count for October 2018 was 1,062, up 9 from the 1,053 [Read more]

Imperial investment in Aspen project to proceed

$2.6 billion investment to develop 75,000 barrels per day of bitumen production Next-generation technology to improve economics, reduce emissions intensity and water use Mutually beneficial, long-term agreements with seven local Indigenous communities Construction to begin in fourth quarter of 2018; project startup in 2022 CALGARY, Alberta--(BUSINESS WIRE)--Imperial announced today that it has made a final investment decision to develop its Aspen project, located about 45 kilometres [Read more]