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Aug 26, 2014

U.S. court scraps order to seize Kurdish crude from tanker near Texas

HOUSTON, Aug 25 (Reuters) – A U.S. court on Monday threw out
an order to seize some 1 million barrels of disputed Iraqi
Kurdish crude oil from a tanker near Texas, a move that could
allow the cargo to be delivered and end a nearly month-long
impasse.

The United Kalavrvta tanker, carrying about $100 million
worth of Kurdish crude, has been anchored in the Gulf of Mexico
for weeks, as the Iraqi region of Kurdistan wages a legal battle
over ownership with the central government of Iraq.

Aug 20, 2014

Refracking brings ‘vintage’ oil and gas wells to life

HOUSTON/WILLISTON, NORTH DAKOTA Aug 20 (Reuters) – A
fracking boom isn’t enough for U.S. oil and gas producers -
they’re now starting the re-fracking boom.

Wells sunk as little as three years ago are being fracked
again, the latest innovation in the technology-driven shale oil
revolution. Hydraulic fracturing, which has upended global
energy markets by lifting U.S. crude oil output to a 25-year
high, has been troubled by quick declines in oil and gas output.

Aug 11, 2014

Kinder CEO sees acquisition opportunities; units soar

HOUSTON (Reuters) – Kinder Morgan Inc (KMI.N: Quote, Profile, Research, Stock Buzz) as a combined company would be able to make sizable acquisitions in the natural gas and crude oil pipeline and processing sector, Chief Executive Officer Rich Kinder told investors on a conference call on Monday.

“We have such a broad platform, virtually anything in the midstream area would fit us,” Kinder said.

Aug 6, 2014

Chesapeake profit falls; output seen rising slightly

Aug 6 (Reuters) – Chesapeake Energy Corp on
Wednesday reported a lower-than-expected quarterly profit on
higher costs, but the second-largest U.S. producer of natural
gas said it expected increased year-end output as more wells
are connected to pipelines.

Chesapeake has several hundred wells in the Marcellus and
Utica fields in the U.S. Northeast and Midwest. The wells have
been drilled but are waiting for pipelines and other
infrastructure to be built so gas and oil can be transported to
market.

Jul 31, 2014

ConocoPhillips profit slightly higher; output rises

By Anna Driver

(Reuters) – ConocoPhillips (COP.N: Quote, Profile, Research, Stock Buzz), the largest U.S. independent oil and gas company, on Thursday reported a quarterly profit that just beat Wall Street expectations, helped by a bigger-than-expected increase in oil and gas production.

ConocoPhillips, like many other oil and gas companies, is drilling more in U.S. shale fields where wells bring better profits and steady production growth is easier to achieve.

Jul 31, 2014

Apache to quit gas projects in Australia, Canada; shrs jump

HOUSTON, July 31 (Reuters) – U.S. oil and gas company Apache
Corp, under pressure from activist investor Jana
Partners, said on Thursday it plans to sell interests in two
liquefied natural gas (LNG) projects as it sharpens the focus on
developing North American shale fields.

The move, a significant pullback from the LNG market,
relieved investors worried about the potential project costs.
Apache shares rose to their highest in more than two years.

Jul 30, 2014

Anadarko looking closely at wringing value from mineral rights -CFO

HOUSTON, July 30 (Reuters) – Anadarko Petroleum Corp
is studying ways the company could wring more value from the
mineral interests it holds on more than 8 million acres (3
million hectares) in the Western United States, its chief
financial officer told investors on Wednesday.

In data released on Tuesday, Anadarko said it had $385
million in royalty revenue from acreage that produces oil and
gas, coal and soda ash, a figure that could grow to $770 million
for the year.

Jul 30, 2014

U.S. judge says cannot seize Kurdish crude for now

HOUSTON (Reuters) – A high-stakes dispute over a tanker carrying $100 million in Iraqi Kurdish crude took a surprising turn on Tuesday when a U.S. judge said she lacked jurisdiction given the ship’s distance from the Texas shore and urged that the case be settled in Iraq.

Federal magistrate Nancy K. Johnson said that because the tanker was some 60 miles (100 km) offshore, and outside territorial waters, an order she issued late on Monday for U.S. Marshals to seize the cargo could not be enforced. She said the dispute between Iraq’s central government and the autonomous region of Kurdistan should be resolved in Iraq.

Jul 29, 2014

Iraq gets U.S. to seize $100 million Kurdish oil cargo off Texas

HOUSTON/BAGHDAD (Reuters) – Iraq scrambled to gain control of a cargo of Kurdish oil worth $100 million off the Texas coast on Tuesday after the U.S. ordered its seizure in a bid by Baghdad to halt oil sales by the autonomous region of Kurdistan.

A U.S. judge overnight approved a request from Baghdad’s lawyers on Monday that laid claim to the oil, saying the cargo of some 1 million barrels of crude from Iraqi Kurdistan was sold without its permission.

Jul 29, 2014

U.S. to seize $100 mln of Iraqi Kurdish oil in tanker off Texas

HOUSTON/LONDON, July 29 (Reuters) – U.S. authorities were
set on Tuesday to seize a cargo of crude worth more than $100
million from Iraqi Kurdistan anchored off the Texas coast after
a judge approved a request from Baghdad, raising the stakes in
an oil sales dispute between Iraq’s central government and the
autonomous region.

The tanker United Kalavrvta, carrying some 1 million barrels
of Iraqi Kurdish crude oil, arrived near Galveston Bay on
Saturday, but has yet to unload its disputed cargo.

    • About Anna

      "I currently cover large U.S. oil and gas companies including Exxon Mobil and ConocoPhillips as part of the equities desk's Raw Materials Team. I am based in Houston, Texas."
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