BusinessCreator, Inc.

Analyst: Comstock Resources’ Deal With Jerry Jones ‘Bold’

The deal by Comstock Resources Inc. (NYSE: CRK) to swap out 88.6 million shares for Jerry Jones’ Bakken oil production is being viewed positively by analysts and investors as shares rose after the announcement. Analysts from Seaport Global and Coker Palmer said the deal, which calls for Jerry Jones, owner of the Dallas Cowboys Football Club Ltd. to own 84% is a step in the right direction for Comstock Resources and brings about significant upside as shares of the stock nearly doubled the day after the deal was announced. “We’re convinced that getting married to the owner of the Dallas Cowboys (Jones now has 84% of the equity) was actually an excellent path to go down,” said Seaport Global in a research note.
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Working gas in storage barely tapped: EIA

The volume of working natural gas pulled from storage during the week ended April 20, was exactly half the amount taken one week earlier, and the lowest volume since early November, the Energy Information Administration reported.

Just 18 billion cubic feet (Bcf) of working gas was pulled from storage during the week ended April 20, with total working gas remaining underground falling to 1.28 trillion cubic feet (Tcf), from 1.3 Tcf one week earlier. (All numbers are rounded.)

The most recent total for stored working gas was down a whopping 897 Bcf, or 41.2%, from the year-ago total of 2.18 Tcf, and was down 527 Bcf, or 29.1%, from the five-year average of 1.81 Tcf, Kallanish Energy calculates.

Three of the five regions EIA divides the Lower 48 U.S. states into when tracking stored working gas recorded a week-to-week drop in the fossil fuel, EIA found.

The biggest drawdown was in the Midwest region, 17 Bcf, or 7.5%, to 211 Bcf, from 228 Bcf stored during the week ended April 13.

The latest Midwest total was down 291 Bcf, or 58%, from the year-ago total of 502 Bcf, and was down 157 Bcf, or 42.7%, from the five-year average of 368 Bcf, EIA reported.

The Mountain and Pacific regions each reported an increase in stored working gas, but combined, the addition totaled just 3 Bcf.

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Can’t We Just Stop the Green Energy Insanity, Please – Part II

Tom Shepstone Shepstone Management Company, Inc.   There are two aspects of green energy insanity that never get adequate attention, the reliance on rare earth minerals and the demolition and wastes issues. The lousy economics, especially compared to those of natural … Continue reading

The post Can’t We Just Stop the Green Energy Insanity, Please – Part II appeared first on Natural Gas Now.

Stone Energy To Acquire Ram Powell Unit In US GoM Viosca Knoll Area

Stone Energy Corp. (NYSE: SGY) said April 27 it had agreed to purchase the Ram Powell Unit in the U.S. Gulf of Mexico from Shell Offshore Inc., ExxonMobil Corp. (NYSE: XOM) and Anadarko US Offshore LLC. The acquisition includes 100% working interest in the Ram Powell Unit, which is located in 3,200 ft of water in the Viosca Knoll Area, Block 956, and is capable of processing 60,000 barrels per day (bbl/d) of oil and 200 million cubic feet per day of gas. The terms of the transaction weren’t disclosed. The assets comprise six lease blocks and the Ram Powell tension leg platform. Production for the Ram Powell Field averaged roughly 6,100 bbl/d during 2017.
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Energy Executives Favor More Robotics, Artificial Intelligence To Perform Tasks

We could soon see more robotics and other artificial intelligence technology performing tasks and jobs in the energy sector. KPMG’s recent 2018 U.S. Energy Survey, which polled 92 energy executives, revealed that the majority of them are in favor of utilizing emerging technologies like artificial intelligence and intelligent automation to improve business operations without a reduction in human workforce. Regina Mayor, KPMG’s global and U.S. energy sector leader, said the survey revealed this is an exciting time in the industry as it moves toward streamlining and making production more efficient.
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Continental Resources Announces Firm Transportation Agreement On Enable's Project Wildcat

Continental Resources Inc. (NYSE: CLR) announced the execution of a firm transportation agreement on Enable Midstream Partners’ (NYSE: ENBL) Project Wildcat. Project Wildcat will provide Continental Resources 400 million cubic feet per day (MMcf/d) of additional takeaway capacity from its properties in the SCOOP and STACK plays in Oklahoma. Project Wildcat will provide Continental direct access to premium markets, including the expanding Dallas Fort Worth area where supplies of natural gas from the Barnett shale continue to decline.
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Northeast Supply Enhancement