Pipeline operator Kinder Morgan announced last week it’s sold all of its 25 million shares of Canada’s Pembina Pipeline Corp. for $764 million after taxes, Kallanish Energy reports. The money will be used in its 2020 budget to reduce debt, said the Houston-based company. Kinder Morgan acquired the shares when Pembina bought Kinder Morgan Canada last … Read more
Brazilian state-run oil company Petrobras is seeking to accelerate its exit from the biofuels segment and has started the process to sell a large stake in BSBios Biodiesel, Kallanish Energy reports. The sale of the 50% stake in the biofuels company will be made in conjunction with partner RP Biofuels, which owns the … Read more
Plains All American Pipeline Tuesday announced it’s formed a joint venture with Delek Logistics Partners in the existing Red River Pipeline system, with Delek paying $128 million for a 33% share in the line. Plains retained a 67% interest in the JV and will continue to operate the Red River crude oil system, Kallanish Energy … Read more
Eclipse Resources and Blue Ridge Mountain Resources said Thursday they’ve completed their merger, announced last August, with the melded company now known as Montage Resources Corp. The company also announced it has entered into an amended and restated credit agreement to expand its borrowing base from $225 million to $375 million and extended the maturity … Read more
European oil majors Shell and Eni reportedly knew of the corruption ongoing during their OPL 245 acquisition in Nigeria, a case in which they are being tried in Milan and could also respond to in a London court. Reuters reported Monday Milan judge Giusy Barbara said “the management of oil companies Eni and … Read more
The Permian Basin is the No. 1 drilling hot spot in North America. More than $90 billion in deals have been made in the Permian Basin in West Texas and southeast New Mexico from January 2013 through July 2018, according to a new report. The report was prepared by staffers of Ralph … Read more
SM Energy said Thursday it closed the previously announced sales of its remaining assets in the Williston Basin in North Dakota, and third-party-operated assets known as Halff East in Upton County, Texas, for $292.3 million. The properties acquired by privately-held, independent producer Petro-Hunt include roughly 246 operated and 51 non-operated wells and 119,000 net acres of … Read more
The Appalachian Basin remains a very busy place. Nearly 2,300 drilling permits were issued in 2017 in the three-state basin, with 1,036 of those wells being spud, said energy consultant Timothy Knobloch. That includes 1,377 Pennsylvania permits, 462 Ohio permits and 459 West Virginia permits, said Knobloch, president of James Knobloch Petroleum Consultants, of Marietta, Ohio. … Read more
Royal Dutch Shell said Wednesday it completed the $9.45 billion sale via three Canadian units and two deals of all its Canadian in-situ (in-ground) and undeveloped oil sands assets interests, and reducing its share in the Athabasca Oil Sands Project (AOSP) from 60% to 10%. Under the first agreement, Shell completed the … Read more
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