Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )

360 Articles

Shrinking Red Tape Moves Energy Projects Forward

Shrinking Red Tape Moves Energy Projects Forward

Mining states celebrate HJR 38, Keystone XL back on track, CPP still an unknown Several stalled or presumed dead energy projects are back in the driver’s seat in 2017, and the new team running things in Washington, both at the White House and in Congress, has moved rapidly in the past month to begin to rollback some of the growth-stifling regulations[Read More…]

February 20, 2017 - 2:16 pm 360 Articles, Closing Bell Story, Regulatory
Utica Wells Producing 4.2x More than in January 2014, Beating Permian Efficiencies

Utica Wells Producing 4.2x More than in January 2014, Beating Permian Efficiencies

Despite relatively low rig activity, the Utica shows the strongest gains in production efficiency since January 2014 Baker Hughes Industries (ticker: BHI) released its weekly update on the number of rigs operating in the United States Friday, showing ten more rigs active in the country from last week. The Permian remains the most active basin in the country, but despite[Read More…]

Scott Pruitt Confirmed as EPA Head

Scott Pruitt Confirmed as EPA Head

Scott Pruitt was confirmed to run the EPA today, with the Senate voting 52-46 to confirm. Two Democrats, Joe Manchin (WV) and Heidi Heitkamp (ND) crossed party lines to support Pruitt, while one Republican, Susan Collins (ME), voted against him. Scott Pruitt has been the Oklahoma Attorney General since 2011, in which position he distinguished himself as a harsh critic[Read More…]

February 17, 2017 - 4:39 pm 360 Articles, Closing Bell Story, Regulatory
Encana Plans to Grow Permian Production by 50% in 2017

Encana Plans to Grow Permian Production by 50% in 2017

2017 Development to focus on Permian, Eagle Ford, Montney Encana (ticker: ECA) announced fourth quarter earnings and 2016 reserves Thursday, showing a net loss of $281 million, ($0.29) per share. Full year results were a loss of $944 million, or ($1.07) per share. These results were hampered by special charges including impairments and a net loss on risk management. After[Read More…]

Wells in Turkey are Outperforming the STACK: TransAtlantic Petroleum CEO

Wells in Turkey are Outperforming the STACK: TransAtlantic Petroleum CEO

It’s like being in the Midland, but with better financial terms – TransAtlantic discusses its operations in Turkey The last nine years have been marked by explosive growth in the North American oil and gas sector, but many companies continue to exploit hydrocarbon resources successfully in other parts of the world as well. TransAtlantic Petroleum (ticker: TAT) is one such[Read More…]

Top Five SEC Disclosure Issues for E&P 2016 Annual Reports: Haynes and Boone

Top Five SEC Disclosure Issues for E&P 2016 Annual Reports: Haynes and Boone

Get your DUCs in order Energy attorneys Haynes and Boone recently looked at the top SEC disclosure issues for E&P company 2016 annual reports. The findings from Haynes and Boone appears below. Comment letters issued in 2016 by the staff of the Division of Corporation Finance of the Securities and Exchange Commission (SEC) to reporting E&P companies relating to their 2015[Read More…]

February 17, 2017 - 9:40 am 360 Articles, Closing Bell Story, Corporate Governance, Regulatory
Diamondback Predicts 65% Production Growth in 2017

Diamondback Predicts 65% Production Growth in 2017

2016 reserve replacement ratio 409% Diamondback Energy (ticker: FANG) announced fourth quarter results and reserves Wednesday, reporting a net income of $26 million, or $0.32 per share. Full year results are a loss of $165 million, or ($2.20) per share. These results are far better than 2015, when Q4 and full year earnings per share were ($2.80) and ($8.74), respectively.[Read More…]

February 16, 2017 - 5:24 pm 360 Articles, Closing Bell Story, Crude Oil News, E&P
Cimarex Puts 2017 Spend at $850-$900 Million

Cimarex Puts 2017 Spend at $850-$900 Million

Cimarex predicts production growth of 10-15% in 2017 Cimarex Energy (ticker: XEC) reported fourth quarter earnings Wednesday and 2016 reserves today, showing a net income of $38.2 million, or $0.40 per share. Full year results are a loss of $431.0 million, ($4.62) per share. After adjusting for special charges, fourth quarter earnings are $56.7 million, $0.60 per share. This is[Read More…]

February 16, 2017 - 5:10 pm 360 Articles, Closing Bell Story, E&P, Earnings
Black Stone Minerals Continues to Expand its Distribution by 9%

Black Stone Minerals Continues to Expand its Distribution by 9%

Black Stone Minerals is on track to maintain 9% CAGR for its common units Increasing distribution to stockholders and unitholders has become difficult over the course of the downcycle. Low commodity prices stymied growth, reducing cash flow for companies and stressing company balance sheets. Despite that, some companies, like Black Stone Minerals (ticker: BSM) have been able to continue to[Read More…]

Montney Player Blackbird Energy Grows Enterprise Value 8x in 2016

Montney Player Blackbird Energy Grows Enterprise Value 8x in 2016

Using the downcycle to your advantage The last two years have been a difficult period for the oil and gas industry. The drop in oil prices following OPEC’s November 2014 decision to defend market share over oil prices left the industry in a world of hurt as the value of a barrel of oil tumbled from over $100 to less[Read More…]

February 15, 2017 - 5:55 pm 360 Articles, Canada, Closing Bell Story, EnerCom Dallas 2017
North Dakota Oil, Gas Production Down 10% in December

North Dakota Oil, Gas Production Down 10% in December

November set records for gas production, producing wells The North Dakota Industrial Commission released its December 2016 Oil and Gas Production Report today, outlining hydrocarbon activity in the state for December 2016. Overall activity in December is down about 10% from levels seen in November. The NDIC reports that oil production is down to 942 MSTB/d in December, from 1,034[Read More…]

February 15, 2017 - 5:05 pm 360 Articles, Closing Bell Story, Crude Oil News, Natural Gas News
Nighthawk Energy Updates Operations and Year-end Reserves

Nighthawk Energy Updates Operations and Year-end Reserves

DJ basin operator Nighthawk Energy (ticker: HAWK) updated its operations, year-end reserves and cash position on Wednesday. Year-end Reserves Nighthawk has finalized its year-end reserve report and has received the audited Proved Developed Producing reserve report from the Company’s independent reserve engineering firm, Ryder Scott Company LP under SPE standards. The reserves were estimated using current production, anticipated decline curves,[Read More…]

February 15, 2017 - 4:51 pm 360 Articles, 360 Profile Member, Closing Bell Story, E&P
Devon Plans to Focus On STACK, Delaware Basin in 2017

Devon Plans to Focus On STACK, Delaware Basin in 2017

Devon targets 2017 CapEx of $2.0-$2.3 billion Devon Energy (ticker: DVN) reported fourth quarter earnings yesterday and 2016 reserves today, showing net earnings of $331 million, $0.63 per share. Full year earnings are a loss of $3.302 billion, or ($6.52) per share. 2016 year end reserves are down to 2,058 MMBOE, from 2,182 MMBOE last year. Much of this decrease[Read More…]

February 15, 2017 - 3:46 pm 360 Articles, Closing Bell Story, E&P, Earnings
Eni Moves to Drones for Facility Inspections - Oil & Gas 360

Eni Moves to Drones for Facility Inspections

Drones replace worker risk, shorten inspection time, provide cloud-based inspection reports Eni (ticker: E), the Italian oil and gas major that operates 9,241 active wells worldwide, has contracted with Sky-Futures, a British drone-based industrial inspection company to inspect Eni’s facilities globally using drones. The work represents a three-year contract between the energy producer and the drone technology company. This is the first[Read More…]

Evolution Petroleum Increases Dividends as Delhi Field Development Continues

Evolution Petroleum Increases Dividends as Delhi Field Development Continues

Evolution Petroleum: a dividend paying company with a debt-free balance sheet – exclusive interview with EPM CFO David Joe The downturn in oil prices proved a difficult storm to weather for much of the industry. Companies that had levered up while oil was over $100 per barrel were suddenly left without a life-raft when the price ship sank, but for[Read More…]

Bellatrix Announces the Appointment of Brent Eshleman as President & CEO

Bellatrix Announces the Appointment of Brent Eshleman as President & CEO

  Bellatrix Exploration Ltd. (ticker: BXE) has appointed Brent Eshleman as the new president & CEO and as a member of the board of directors of Bellatrix, effective immediately. Since November Eshleman has served as Bellatrix Exploration’s interim president and CEO.  Eshleman joined Bellatrix as EVP in July 2012 and was subsequently named EVP and COO in September 2014.  Eshleman[Read More…]

February 15, 2017 - 10:28 am 360 Articles, Canada, Closing Bell Story, E&P, People
EnerCom Dallas investment conference

What’s not to Love? EnerCom Dallas Showcases Oil Producers in Southeastern Europe, U.S., Canada, South America

Strong EnerCom Dallas conference registrations point to 2017 energy sector uptick EnerCom Dallas, EnerCom’s Texas-based oil and gas investment conference, will bring together a slate of upstream producers and oilfield technology innovators working in key global oil and gas jurisdictions. If registrations from the institutional investment community are any indication, the energy sector should be looking for a banner year in 2017.[Read More…]

BetaZi Puts Big Data to Work for Oil & Gas Evaluations

BetaZi Puts Big Data to Work for Oil & Gas Evaluations

Energy producers, banks can solve “massive problems, wicked fast” “BetaZi™ products allow our customers to correctly solve massive problems, wicked fast.” That’s how BetaZi™ CEO Janette Conradson put what her company does, talking to Oil & Gas 360® this week. Conradson said BetaZi is the first company to deliver the promise of big data to the North American oil and[Read More…]

Scotland Launches Decommissioning Fund for North Sea Platforms, Pipelines

Scotland Launches Decommissioning Fund for North Sea Platforms, Pipelines

Looking to spur business activity in Scotland for decom projects Scotland’s First Minister has launched a new £5 million fund that will provide opportunities for the supply chain in Scotland to benefit from the decommissioning of North Sea infrastructure. The Decommissioning Challenge Fund (DCF) will support infrastructure upgrades and innovation in salvage and transport methods at Scotland’s ports and harbors. It will[Read More…]

The Capital Markets are Open to Oil & Gas: PLS

The Capital Markets are Open to Oil & Gas: PLS

PLS Capitalize™ Report: Oil & gas industry raised $186 Billion through U.S. public offerings in 2016; PLS predicts surge in M&A activity in 2017 Houston’s oil and gas research firm PLS Inc. provided the following statistical review of capital markets activity today, with the help of its capital markets tracking platform Capitalize™. Highlights of the PLS Capitalize™ report include: Aggregate[Read More…]

Noble Energy Announces 63% Year-over-Year Increase in Capital Budget

Noble Energy Announces 63% Year-over-Year Increase in Capital Budget

Noble Energy announces $2.3-$2.6 billion budget with a focus on liquids in the DJ, Delaware and Eagle Ford Houston-based Noble Energy (ticker: NBL) announced the company’s capital guidance for the year, stating that the company plans to increase its spending by $950 million (63%) from its 2016 capital budget. The company said it will spend between $2.3 and $2.6 billion[Read More…]

February 13, 2017 - 5:57 pm 360 Articles, Closing Bell Story, Crude Oil News, E&P
Earthstone Energy Likes Midland Basin Opportunities

Earthstone Energy Likes Midland Basin Opportunities

EarthStone Energy plans to grow production 200% to 400% on acquired Midland assets in 2017 With 2016 in the books and many companies reporting their year-end numbers, markets are beginning to look forward to the year ahead. A stable oil price and greatly improved drilling efficiencies have led many to have a more optimistic attitude about 2017, particularly about companies[Read More…]

Anadarko Adds Deal Power to Board

Anadarko Adds Deal Power to Board

Anadarko Petroleum Corporation (ticker: APC) announced the election of Claire S. Farley as an independent director of the company, effective Feb. 9, 2017. “Claire is a respected leader in the energy industry with a tremendous track record of success, including far-reaching experience in finance, strategic investments, mergers and acquisitions, and exploration and new ventures,” said Anadarko Chairman, President and CEO Al Walker. “We[Read More…]

February 13, 2017 - 2:31 pm 360 Articles, Closing Bell Story, Corporate Governance, E&P, People
Rigs Up Again

Rigs Up Again

Baker Hughes released its weekly count of working rigs Friday. U.S. rig count is up by 12 this week, sitting at 741, which is 200 more than last year at this time. Canadian rig count was up 9 to 352, which is 130 more than this time last year. The international count stood at 933 for January 2017, which is down 112[Read More…]

February 10, 2017 - 5:38 pm 360 Articles, Closing Bell Story, E&P
Tellurian Investments Inc. announced that GE Oil & Gas has made a $25 million preferred equity investment in Tellurian Investments

Tellurian Investments Merges with Magellan Petroleum

Tellurian Inc active in Louisiana, UK, Australia Tellurian Investments and Magellan Petroleum announced the close of their merger on Friday, creating the company Tellurian Inc. Tellurian (ticker: TELL) is the result of a reverse merger, with the private Tellurian Investments acquiring the public Magellan to go public. While Magellan CEO Antoine Lafargue will be CFO of the company, it will[Read More…]

EnerCom Dallas investment conference

EnerCom Dallas Oil & Gas Conference Announces More Presenting Companies

One-on-one meeting requests for institutional buyside investors with presenting company executives at EnerCom Dallas are now open Presenting companies at EnerCom’s upcoming Texas-based oil and gas investment conference — EnerCom Dallas — include oil and gas exploration and production companies and oilfield technology companies. Conference Dates and Location: The EnerCom Dallas oil and gas investment conference is being held at the[Read More…]

For Coal to Come Back, 3 Things Must Happen

For Coal to Come Back, 3 Things Must Happen

The inevitability of coal’s decline–that perception will probably change: Pipes To set the stage for a coal comeback, one factor is already in place Within minutes after his inauguration, President Trump posted a memo on the White House website entitled “An America First Energy Plan.” The memo said: “President Trump is committed to eliminating harmful and unnecessary policies such as[Read More…]

Source: WPX

EQT Buys Stone Energy Appalachian Acreage for $527 million

Purchase adds 53,400 Marcellus, 44,100 Utica acres EQT Corporation (ticker: EQT) announced a $527 million acquisition in the Marcellus today, the latest in a series of acquisitions made by the company. In the transaction EQT will acquire 53,400 core Marcellus acres, drilling rights on 44,100 net Utica acres, and current natural gas production of approximately 80 MMcfe/d. Included are 174[Read More…]

OXY Could Double Permian Production by 2020

OXY Could Double Permian Production by 2020

Reserves grew 9% to 2.4 billion BOE; 2017 CapEx target is $3+ billion Occidental Petroleum (ticker: OXY) announced fourth quarter results and 2016 reserves today, reporting a net loss of $272 million, ($0.36) per share, for Q4 2016. Oxy also released reserves on Monday, showing an increase of 9% to 2.4 billion BOE. The company had additions of 437 million BOE[Read More…]

February 9, 2017 - 5:18 pm 360 Articles, Closing Bell Story, Earnings
Hatch, Barrasso and Enzi Introduce Senate Bill to Stop Frac Regulation Duplicity

Hatch, Barrasso and Enzi Introduce Senate Bill to Stop Frac Regulation Duplicity

Senators Orrin Hatch, R-Ut., John Barrasso, R-Wy., and Mike Enzi, R-Wy., have introduced the “Protecting States’ Rights to Promote American Energy Security Act” (S.316). The proposed law would ensure that oil and gas producing states are protected from redundant federal hydraulic fracturing regulations if state governments are already adequately regulating the practice. “Many states, such as Utah, are doing the[Read More…]

February 9, 2017 - 3:56 pm 360 Articles, Closing Bell Story, Regulatory