BREAKING: Vermilion Parish files suit against industry

BREAKING: Vermilion Parish files suit against industry

BATON ROUGE, LA – (July 28, 2016) – Louisiana Oil and Gas Association (LOGA) President Don Briggs today issued the following statement in response to the filing of litigation against 45 oil and gas companies by District Attorney Keith Stutes and the plaintiffs’ law firm Broussard & David alleging permit violations in Vermilion Parish: “The […]

By July 28, 2016 0 Comments Read More →
Oil prices steady ahead of U.S. inventory data

Oil prices steady ahead of U.S. inventory data

Brian Krishnan, Reuters: Oil prices steadied on Wednesday after dipping close to two-month lows on bets U.S. government oil inventory data for last week will show drawdowns closer to market expectations. Speculation that the U.S. Federal Reserve will keep interest rates unchanged at the conclusion of its policy meeting later in the day also pared early […]

Exxon unit, SABIC eyeing petrochemical venture on Gulf Coast

Exxon unit, SABIC eyeing petrochemical venture on Gulf Coast

Jordan Blum, FuelFix: Exxon Mobil Corp. and Saudi Arabia’s largest chemical company are considering a partnership to build a major petrochemical complex in either Texas or Louisiana along the Gulf Coast. Exxon and the Saudi Arabia Basic Industries Corp., known as SABIC, announced they’re weighing the venture to take advantage of cheap and abundant natural gas supplies in […]

Commissioner’s Authority Upheld

Commissioner’s Authority Upheld

By: Don Briggs President, Louisiana Oil and Gas Association So many times our companies walk into the courtroom and look at the next few years fly by as they spend their time in painfully draining litigation. However, with the recent refusal by the Louisiana Supreme Court to consider an appeal by St. Tammany Parish and […]

Encouraging signs for oil and gas

Encouraging signs for oil and gas

By Don Briggs President, Louisiana Oil and Gas Association   The last year and a half has brought about vast changes for the global oil and gas market. Prices have fallen from $113 a barrel in 2014 to $27 dollars more recently. However, over the last month we have seen those prices nearly double. This […]

By June 16, 2016 0 Comments Read More →
Coastal litigation unnecessary, “sue-and-settle” tactics inappropriate

Coastal litigation unnecessary, “sue-and-settle” tactics inappropriate

By Don Briggs President, Louisiana Oil and Gas Association   Lawsuits certainly have a way of getting everyone’s attention, especially here in Louisiana. With a well-established reputation as a “judicial hellhole,” our state is known for having a legal system that seems to operate more like a litigation lottery than a network of fair and […]

By May 31, 2016 0 Comments Read More →

Noble’s Gunflint Subsea Development Starts Up In GoM

Velda Addison, E&P: The bounty of oil coming from the U.S. Gulf of Mexico is getting bigger now that Noble Energy Inc. (NYSE: NBL) has started production at its deepwater Gunflint oil development. Located in Mississippi Canyon Block 948, production from the field is expected to reach 20,000 barrels of oil equivalent per day, Noble Energy […]

Oil prices drop to three month low

WWL: Oil prices have fallen to a three month low, in the range of just over $40 a barrel. That’s a 12 percent drop just in July.  Eric Smith, Associate Director of the Tulane Energy Institute, says he expects prices to continue to go up and down. He says there is too much supply to […]

Oil Majors Lost One Engine; Now the Second One Is Sputtering

Javier Blas, Bloomberg: If Big Oil was a two-engine airplane, you could say it’s been flying on a single engine since energy prices crashed in 2014. Now, the second motor is sputtering. The major integrated oil companies, including Exxon Mobil Corp., Total SA and BP Plc, have relied on their so-called downstream businesses, which include refining […]

Mid-Con Energy Partners, LP Closes Hugoton Asset Divestiture

This post was originally published on this siteDALLAS, July 28, 2016 (GLOBE NEWSWIRE) — Mid-Con Energy Partners, LP (NASDAQ:MCEP) (“Mid-Con Energy” or the “Partnership”), through its wholly-owned subsidiary, Mid-Con Energy Properties, LLC, announces that it has closed its previously announced divestiture of oil and natural gas assets within the Hugoton area to PO&G Panhandle, LP, […]

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Frank’s International N.V. Announces Second Quarter 2016 Results

This post was originally published on this siteHOUSTON, July 28, 2016 (GLOBE NEWSWIRE) — Frank’s International N.V. (NYSE:FI) (“Frank’s” or the “Company”) today reported a net loss of $31 million, or $0.20 per share, on revenue of $121 million for the three months ended June 30, 2016 and an adjusted net loss of $22 million, […]

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Halcón Resources Files for Court Approval of Prepackaged Restructuring Plan

This post was originally published on this siteHouston, Texas, July 28, 2016 (GLOBE NEWSWIRE) — Halcón Resources Corporation (NYSE:HK) (“Halcón” or the “Company”), and certain of its subsidiaries, today announced that they had filed voluntary petitions under chapter 11 of the Bankruptcy Code to pursue a pre‐packaged plan of reorganization in accordance with its previously […]

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Other Recent Articles

Memorial Resource Development Corp. Announces Second Quarter 2016 Results

This post was originally published on this siteHOUSTON, July 28, 2016 (GLOBE NEWSWIRE) — Memorial Resource Development Corp. (Nasdaq:MRD) announced today its operating and financial results for the three months ended June 30, 2016. Highlights from the quarter include: Increased average daily production 68% to 451 MMcfe/d for the second quarter 2016 compared to 268 […]

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Why haven’t oil prices fallen further as hedge funds boost short positions?

John Kemp, Reuters: Hedge funds and other money managers have begun to amass another large short position in futures and options contracts linked to the price of crude oil. But the current wave of short-selling has been associated with a much smaller decline in WTI prices than last summer, at least so far…

Low Oil Prices Kill Off 7 Billion Barrels Of Oil Production

Rakesh Upadhyay, OilPrice.com: Capital expenditure cuts of $150 billion for 2016 and 2017 by U.S. exploration and production companies are expected to result in average production losses of 4.2 million barrels per day in the Lower 48 through 2020, according to Wood Mackenzie. This is not only a trend in the U.S., with upstream companies around the […]