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Oil & Gas Exploration and Production

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Cairn India consol Sept qtr profit more than doubles

Friday, 21 Oct 2016 06:52am EDT

Cairn India Ltd : Cairn India Ltd - consol sept quarter net profit 7.79 billion rupees . Cairn India Ltd - consol sept quarter total income from operations 20.39 billion rupees . Cairn India Ltd consensus forecast for sept quarter consol net profit was 4.21 billion rupees .Cairn India Ltd - consol net profit in sept quarter last year was 3.26 billion rupees as per Ind-AS; consol total income from operations was 22.42 billion rupees.

APC Group says its board approved the sale of various parcels of land

Friday, 21 Oct 2016 03:46am EDT

Apc Group Inc - :Board of directors of Co approved the sale of various parcels of land of the corporation located in Ginatilan, Cebu.

Tourmaline Oil announces strategic asset acquisition in Alberta deep basin, NEBC Montney complex

Thursday, 20 Oct 2016 05:32pm EDT

Tourmaline Oil Corp : Tourmaline Oil Corp announces strategic asset acquisition in the Alberta deep basin and NEBC Montney complex, $739.4 million equity financings and increased 2017 guidance . Cash portion of deal to be funded through committed concurrent equity financings totalling $739.4 million, existing credit facilities . Revising full-year 2017 average production guidance to 225,000 boepd, up from 215,000 boepd previously . Tourmaline has agreed to acquire current production of approximately 24,850 boepd, estimated current 2p reserves of 473.5 mmboe . Now expects to achieve 2016 exit production target of 210,000-215,000 boepd in late November . Including effect of acquisition and associated development, company is expecting 2017 production of about 250,000-260,000 boepd . Plans to drill 13 horizontals on montney assets in 2017, 54 horizontals in 2018 in conjunction with co infrastructure construction . Including effect of acquisition and associated development, company is expecting 2018 production levels of 310,000-320,000 boepd . Deal for total consideration of $1.369 billion . Deal includes cash consideration of $1.0 billion and remainder in Tourmaline common shares . Proceeds of prospectus offering, private placement,non-brokered offering will be used to partially fund cash portion of purchase price for deal.

Southwestern Energy announces 2016 Q3 financial results

Thursday, 20 Oct 2016 05:00pm EDT

Southwestern Energy Co : Southwestern Energy Co announces 2016 third quarter operational update and financial results . Q3 adjusted non-gaap earnings per share $0.03 . Q3 loss per share $1.52 . Q3 earnings per share view $0.06 -- Thomson Reuters I/B/E/S . Southwestern Energy Co - net production totaled 211 bcfe in Q3 of 2016, down from 249 bcfe in Q3 of 2015 . Q3 operating revenues $651 million versus $749 million . Southwestern Energy Co - company anticipates its total company basis differential to end year at high end of its guidance, which is $0.83 per mcf .Southwestern Energy Co-to exit 2016 with about 85 drilled but uncompleted wells, returning to normal maintenance level for operations of about 60 by early 2017.

Petrus Resources provides operations update

Thursday, 20 Oct 2016 08:30am EDT

Petrus Resources Ltd : Petrus resources provides operations update . Petrus Resources Ltd - year-end production is expected to be approximately 9,000 boe/d . Petrus resources Ltd- petrus anticipates drilling approximately two net additional wells prior to year-end .Petrus Resources Ltd- remains on track with its second half capital program of $17.5 million.

JV Partners, Williams restructuring agreement with Chesapeake

Wednesday, 19 Oct 2016 04:15pm EDT

Williams Partners Lp : JV Partners Crestwood Equity and Williams Partners announce agreement to restructure gathering & processing agreement with Chesapeake in Powder River . Williams Partners- Terms expected to include minimum annual revenue guarantees that support transition to new fixed-fee structure over next 5-7 yrs .Williams Partners LP - Restructured services are to become effective Jan. 1, 2017 for a 20-year term..

Pearl Oriental Oil says Fan Amy Lizhen appointed as chairlady, executive director

Wednesday, 19 Oct 2016 10:52am EDT

Pearl Oriental Oil Ltd <0632.HK> : Wong Kwan has resigned as chairman, executive director . Liu Ju has been appointed as executive director of company . Cheung Kam Shing, Terry has been appointed as executive director of company . Tang Yau Sing, Gareth has been appointed as executive director of company .Fan Amy Lizhen has been appointed as chairlady, executive director.

Gulfsands says Samarium to take 70 pct stake in Colombian contract

Wednesday, 19 Oct 2016 05:05am EDT

Gulfsands Petroleum Plc : Colombia Farmout agreement signed . Has signed a Farmout agreement relating to Colombian, Putumayo-14 exploration and production of hydrocarbons contract no 2 of 2013 . Under terms of Farmout agreement Samarium will initially take 70 pct participating interest in Put-14 contract for nil consideration . Says Gulfsands has granted Samarium an option to acquire remaining 30 pct interest in Put-14 contract .Prior to exercise of option, Samarium will fund 100 pct of minimum exploration program costs up to a cap of $16.1 mln.


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