Tuesday, December 10, 2019

Newfield Exploration News

Encana Sells Colorado Oil and Gas Assets to DJR Energy

Image: Encana Corporation

Encana Corporation (Encana) announced that its wholly-owned subsidiary, Encana Oil & Gas (USA) Inc., has completed the previously announced sale of its San Juan asset in New Mexico to Denver-based DJR Energy.“This transaction continues our track record of unlocking value from non-core assets…

Encana Acquires US Shale Producer Newfield Exploration for USD 4.1 billion

Image: Newfield Exploration

Canadian oil and gas producer Encana has signed a deal to acquire all of the outstanding shares of common stock of Newfield Exploration Company in a USD 4.1 billion deal that will provide the former with significant positions in some of North America’s biggest oilfields.In addition…

Encana Widens N. America Reach with $5.5 bln Newfield Deal

Photo: Encana

Canada's Encana Corp will buy Newfield Exploration Co for $5.5 billion, giving the natural gas producer greater access to North America's biggest oilfields.Thursday's all-stock deal will give Encana more acreage in United States' Anadarko and Permian basins as well as Canada's Montney regions.

Surge in U.S. Shale Hedging to Boost 2018 Drilling

File Image (CREDIT: AdobeStock / (c) Shamtor)

When oil prices rocketed towards $60 a barrel this fall, U.S. shale producers hedged more barrels of oil during the quarter than in at least three years, which could help propel the country to record crude production by next year. quarter. sales. million bpd in 2018, which would be an all-time record for U.S. drilling.

Chesapeake Energy Trims Losses, Sheds Some Assets

Chesapeake Energy Corp, the second-largest U.S. natural gas producer, reported a smaller quarterly loss and said it had struck a $470 million deal with Newfield Exploration Co for some assets in Oklahoma. Chesapeake said it would sell about 42,000 net acres in Oklahoma's STACK field…

Pioneer Hedges and Shines in Struggling U.S. Oil Patch

During the U.S. shale boom, fortune favored the bold drillers that discovered and pumped oil fastest. Today the winners are producers like Pioneer Natural Resources who best shielded themselves from tumbling prices. Using derivative transactions known as swaps and collars…

Energy Debt Investors Reap Gains On Oil Rise, But Risks Loom

The rebound in oil prices since mid-March is paying off for holders of corporate bonds of energy companies, and investors are confident that they will outperform Treasuries this year, despite lingering risks. U.S. crude oil prices have rallied more than 32 percent to near their highest levels of the year…

Three Charged with Suspected $1.5m Oil Theft from Texas Fields

Three people have been indicted for stealing shale oil over three years worth an estimated $1.5 million by driving it off in trucks that were supposed to be disposing waste water, according to court documents obtained on Thursday. Texas residents Victor Manuel Guerra…

Brightoil's Trading Chiefs Depart, ex-Sinochem Trader Joins

Two senior trading heads have left Brightoil Petroleum Holdings Ltd, and the company has hired a former executive from China's state-run Sinochem, marking a reshuffle at its Asia trading operations, senior trading sources said. Brightoil's Singapore head of crude oil and head of fuels have left the firm…

Newfield Exploration Attracts Bearish Spread Trading

Bearish spread trading rose in oil and gas producer Newfield Exploration Co for a second day in a row on Thursday, indicating some traders in the options market are worried about the stock trading lower in coming months. The September-December put spread at $45 strike on Newfield Exploration traded 7…

Murphy Oil's Malaysia assets Draw Wide Interest

ONGC and Oil India may team up for joint bid; Kuwait Petroleum, Mitsui among others eying Murphy's assets. Thailand's PTT decides not to bid. Japan's biggest trading house Mitsubishi Corp has submitted a non-binding bid to buy Murphy Oil Corp's Malaysian oil and gas assets valued at about $2.5 billion…