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Press Releases

Plains All American Pipeline to buy gathering system in Permian Basin

Jan 24- Plains All American Pipeline LP said on Tuesday it bought a crude oil gathering system in the Permian Basin for about $1.2 billion. The company also entered into sales agreements of nearly $380 million, which include two pending transactions and the completion of a third in January. Plains All American said the crude oil gathering system is located in the...

Source: Reuters

UPDATE 1-Shell, Phillips 66 buy 6.4 mln bbls of oil from U.S. emergency reserve

WASHINGTON, Jan 24- Oil companies Shell and Phillips 66 together bought 6.4 million barrels of oil last week from the Strategic Petroleum Reserve, according to a Department of Energy document released on Tuesday. The federal government held the sale to fund a revamp of the emergency oil stash, which is stored in salt caverns in Louisiana and Texas along the Gulf...

Source: Reuters

Abraxas Provides Fourth Quarter and Year End 2016 Conference Call Information

SAN ANTONIO---- Abraxas Petroleum Corporation will host its fourth quarter and year end 2016 earnings conference call on Wednesday, March 15, 2017 at 10 AM Central Time. If you are unable to participate in the live conference call, a replay will be available through April 12, 2017 and can be accessed by dialing 855.859. 2056 and entering conference code 56250056..

Source: Business Wire

Patterson-UTI Energy Announces Public Offering of Common Stock

HOUSTON, Jan. 24, 2017/ PRNewswire/-- PATTERSON-UTI ENERGY, INC. today announced that it has commenced an underwritten public offering of 14,800,000 shares of common stock. Goldman, Sachs& Co., BofA Merrill Lynch, Scotia Howard Weil and Wells Fargo Securities are acting as joint lead bookrunners for the offering. The offering is being made pursuant to an effective...

Source: PR Newswire

CANADA STOCKS-TSX jumps to more-than 2-year high, led by resource shares

TORONTO, Jan 24- Canada's main stock index jumped to a fresh more-than 2- year high on Tuesday, led by resource shares as base metal and oil prices rose and after U.S. President Donald Trump signed an order allowing TransCanada Corp to resubmit an application for the Keystone XL pipeline. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed...

Source: Reuters

Outrigger Energy To Sell Permian Basin Midstream Assets for up to $1.5 Billion

DENVER---- Outrigger Energy LLC and certain of its partners and affiliates, today announced the signing of definitive agreements with a subsidiary of Targa Resources Corp. whereby Targa has agreed to acquire Outrigger’ s three midstream subsidiaries in the Permian Basin for cash consideration of up to $1.5 billion, subject to certain adjustments.

Source: Business Wire

Alcoa Corporation Reports Fourth Quarter 2016 Results

Accordingly, the financial results of Alcoa Corporation for full year 2015 and the first ten months of 2016 were also prepared on a carve-out basis. The carve-out financial statements of Alcoa Corporation are not necessarily indicative of Alcoa Corporation’ s combined results of operations, financial position, and cash flows had it been a standalone company...

Source: Business Wire

UPDATE 6-Trump signs order to move controversial oil pipelines forward

While oil producers in Canada and North Dakota are expected to benefit from a quicker route for crude oil to U.S. Gulf Coast refiners, going ahead with the projects would mark a bitter defeat for Native American tribes and climate activists, who vowed to fight the decisions through legal action. The application will be reviewed by the U.S. State Department, which...

Source: Reuters

CN reports record Q4-2016 net income of C$1,018 million, with diluted earnings per share (EPS) up 12 per cent to C$1.32 and up four per cent to C$1.23 on an adjusted basis (1)

MONTREAL, Jan. 24, 2017/ PRNewswire/- CN today reported its financial and operating results for the fourth quarter and year ended Dec. 31, 2016. Net income increased eight per cent to C $1,018 million, while diluted EPS increased 12 per cent to C $1.32, compared with the fourth quarter of 2015. Adjusted net income increased one per cent to $952 million, with adjusted...

Source: PR Newswire

U.S. LNG exports shift to Europe from Asia

Jan 24- U.S. liquefied natural gas exporters have shifted their focus to Southern Europe from Asia as cold weather and problems with Algerian gas supply have driven Europe's gas prices higher. Gas prices in Europe are at their highest premiums to U.S. gas prices for three years. Spain, Greece and Turkey would be other possible destinations for the LNG cargoes, said...

Source: Reuters