2016 March-April Texas 

Black Mountain Secures $150M Equity Commitment

Fort Worth, Texas-based Black Mountain Oil & Gas in February announced it closed a $150 million equity commitment from Natural Gas Partners (NGP) through NGP Natural Resources XI, L.P., the most recent NGP private equity fund focused on natural resources. “Our partnership with NGP will allow us to evaluate a broad opportunity set and move quickly when we identify a… Read More
#OilmanNEWS 2016 March-April 

Obama Proposes New Oil Tax in FY2017 Budget

On Feb. 9, President Barack Obama released a $4.1 trillion budget proposal for fiscal year 2017 that calls for oil companies to pay a $10.25-per-barrel tax on crude oil. The proposed tax would be phased in over a five-year period, with the money going toward funding for the 21st Century Clean Transportation Plan. The 21st Century Clean Transportation Plan aims… Read More
#OilmanNEWS 2016 March-April 

Krewe Energy Acquires Multiple Interests in Southern Louisiana

Krewe Energy, LLC, a Covington, La.-based independent oil and gas exploration company has completed a 100% acquisition of Castex Energy’s interest in the Lapeyrouse Field, the company said on Jan. 25. In concurrence with this acquisition, Krewe Energy purchased additional non-operated working interests in the Lapeyrouse Field, broadening the company’s assets within the area. Production has actively taken place in… Read More
#OilmanNEWS 2016 March-April 

Freely Traded US Crude Sets Sail from Texas Port

Just two weeks after the U.S. government lifted the 40-year-old oil export ban, ConocoPhillips and NuStar Energy LP set sail to the first tanker containing freely traded U.S. crude oil from Corpus Christi, Texas, on Dec. 31, 2015. The tanker, “Theo T”, is holding Eagle Ford crude pumped from South Texas and is believed to be heading toward Europe. ConocoPhillips… Read More
#OilmanNEWS 2016 March-April 

USGS Increases Assessment of Barnett Shale Gas Resource by 26.8 Trillion Cubic Feet

The U.S. Geological Survey (USGS) recently increased its assessment of the undiscovered, technically recoverable shale gas resource in the Mississippian Barnett Shale by 26.8 trillion cubic feet. In an update of its 2003 assessment, USGS said the Barnett Shale within the Bend Arch-Fort Worth Basin Province of north-central Texas has mean volumes of 53 trillion cubic feet of shale gas,… Read More
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