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South Africa, which imports 70% of its crude-oil needs, estimates shale gas may generate 1 trillion rand ($100 billion) of sales within three decades, helping to bring it closer to self sufficiency. - 10:10 am
GreenHunter has seen substantial growth in the past few years. - 9:45 am
Pony Express owns and is developing an oil pipeline project. - 9:40 am - free
The sale price is $200 million plus customary closing adjustments with closing expected by Sept. 30. - 9:35 am - free
News for July 21, 2014
After two years of falling prices for fracking services from a glut in equipment, prices in the U.S. are expected to increase 2% this year and another 4% in 2015.
The government is offering tax breaks to drillers to spur development to counter declining North Sea oil and gas and rising energy imports.
Upon closing, the acquisition is expected to add 13,136 net acres to Diamondback's total position in the Midland Basin, increasing it to more than 85,000 net acres. - free
Caza is now producing four wells on this property on two contiguous 160 acre tracts comprising the west half of Section 29. - free
News for July 18, 2014
The acreage is located in Dimmit and Maverick counties, Texas. - free
The Corpus Christi Liquefaction Project is being designed and permitted for up to three trains, with aggregate design production capacity of 13.5 mtpa of LNG.
Baker Hughes, the world’s third-largest oilfield servicer, said yesterday the North American fracking market is still 20% oversupplied. - free
Energy 11 LP plans to offer 95 million common units for $20 each and 5.26 million units for $19. - free
News for July 17, 2014
A glut of pressure pumping gear in the U.S. led to two years of falling prices for fracking services.
Many petrochemicals companies in central Europe are moving out.
Total horizontal inventory has increased 34% to a total of 1,572 locations, up from 1,169 at the time of RSP's IPO. - free