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Apache Expects New Well to be ‘Notable Contributor’ to 2019 Cashflow

Apache Expects New Well to be ̵...

Apache's U.K. North Sea Garten well delivers...

Three Supertankers Depart Louisiana’s LOOP Deepwater Port Carrying U.S. Crude Oil Abroad

Three Supertankers Depart Louisiana...

Takeaway: 3 full supertankers can take...

Northern Delaware Basin Operations From Concho.com

The Largest Ever Oil and Gas Assess...

The USGS announced its largest-ever oil...

New Crude Oil Export Project Moves Forward in Corpus Christi

New Crude Oil Export Project Moves ...

Lone Star Ports and Martin Midstream Partners...

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  • WPX Energy, Delaware basin. Three drilling rigs on multi-well pads. L to R: Orion Drilling, Pegasus on the CBR 22-10H, Aries on the CBR 22-14H.

    Diamondback Targets 28% Growth Within Cash Flow for 2019

    December 18, 2018

    Permian operator begins scalable program: will drop back to 18-22 rigs and 8 frac crews due to lower oil prices, but dramatically higher commodity pricing will reflect a “mix of growth and increasing return of capital” Diamondback Energy (ticker: FANG) announced 2019 guidance today, outlining the company’s outlook now that it has closed the Energen acquisition. The company estimates full[Read More…]

  • Antero Monetizes Hedge Portfolio for $357 Million

    Antero Monetizes Hedge Portfolio for $357 Million

    December 18, 2018

    Paying down debt with cash, share buybacks continue Antero Resources (ticker: AR) announced it has monetized a portion of its hedge position today, taking advantage of the recent shifts in gas prices. Antero sold part of its hedge portfolio by an early settlement of 68% of its swaps for April through December and replaced the volumes with collars. This sale[Read More…]

  • Source: WPX

    Rigs Move to Wyoming

    December 14, 2018

    Most major basins see rig count fall Oil and gas activity declined once again last week, marking the fourth straight drop according to Baker Hughes’ Weekly Rig Count. The overall rig count declined by four this week, meaning there are now 1,071 rigs active in the U.S. Five land-based rigs shut down, while one inland waters rig came online. There[Read More…]

  • New Crude Oil Export Project Moves Forward in Corpus Christi

    New Crude Oil Export Project Moves Forward in Corpus Christi

    December 14, 2018

    Lone Star Ports and Martin Midstream Partners will create exclusive VLCC export solution on Harbor Island EPIC crude oil pipeline will connect Harbor Island to more than 1 MMBOPD A week ago, the funding to dredge the Corpus Christi ship channel was given the thumbs up by the U.S. Army Corps of Engineers. Now, the Port of Corpus Christi Authority[Read More…]

  • Pennsylvania Well Permits Drop 42% as Producers Seek Higher Output from Fewer Wells

    Pennsylvania Well Permits Drop 42% as Producers Seek Higher Output from Fewer Wells

    December 14, 2018

    From Argus Media Pennsylvania issued 146 drilling permits in November, down by 42pc from a year earlier as producers pursued higher output from fewer wells. The number of permits issued in November was also down from the 210 issued in October, signaling a shift to less drilling as the weather in Appalachia turns colder. Pennsylvania had below-freezing temperatures on the[Read More…]

  • A hydraulic shovel places overburden in a haul truck at the Fort Hills site. Courtesy of Suncor

    Alberta’s Mandatory Curtailments Manufacture Some Problems — Suncor Sets 2019 Spend in $5 Billion Range

    December 14, 2018

    Suncor said its 2019 upstream capital program is going to be $4.9 billion to $5.6 billion to achieve average upstream production of 780,000 to 820,000 barrels of oil equivalent per day (BOEPD) for 2019. The midpoints of these ranges represent a flat capital spend compared to 2018 and a year over year production increase of approximately 10%, including estimated mandatory[Read More…]

  • Permian News: Lilis Energy Delineating Bench that is Shallower with Lower Drilling Costs 

    Permian News: Lilis Energy Delineating Bench that is Shallower with Lower Drilling Costs 

    December 14, 2018

    Lilis’s Tiger #3H IP-24s above 1,800 BOEPD in 3rd Bone Spring Permian-focused Lilis Energy (stock ticker: LLEX) said its Tiger #3H well has reached the 24-hour initial production rate of 1,821 BOEPD. Tiger #3H – 3rd Bone Spring Highlights: IP 24 rate of 1,821 BOEPD, including 801 BOPD (63% liquids, 44% oil), on a three-stream basis, equivalent to 239 BOEPD per 1,000 ft.[Read More…]

  • Exxon Makes FID on Australia Gas Project

    Exxon Makes FID on Australia Gas Project

    December 13, 2018

    ExxonMobil (stock ticker: XOM) made a final investment decision to develop its West Barracouta gas field in Bass Strait. The project: Brings new gas supplies to the Australian domestic market. Is part of Exxon’s continuing investment in the Gippsland Basin. It’s located in the VIC/L1 block in offshore Victoria. The Gippsland Basin Joint Venture continues to supply about 40 percent[Read More…]

  • Source: Fraser Institute

    Survey Ranks Jurisdictions for Oil and Gas Investment

    December 13, 2018

    The Fraser Institute recently published its 12th annual survey of petroleum industry executives and managers regarding barriers to investment in oil and gas exploration and production facilities in various jurisdictions around the globe. The survey responses have been tallied to rank provinces, states, countries, and other geographical regions (e.g., offshore areas) according to the extent of such barriers.   Highlighted[Read More…]

  • Weekly Gas Storage: Winter Draw Continues

    Weekly Gas Storage: Winter Draw Continues

    December 13, 2018

    The EIA released its weekly Natural Gas Storage Report today, outlining how national natural gas stocks have changed in the last week. In total, the EIA reports natural gas stocks fell by 77 Bcf last week, decreasing to 2,914 Bcf from 2,991 Bcf. This is 19.9% below the 3,636 Bcf that was in storage at this point last year and[Read More…]


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E&P

WPX Energy, Delaware basin. Three drilling rigs on multi-well pads. L to R: Orion Drilling, Pegasus on the CBR 22-10H, Aries on the CBR 22-14H.

Diamondback Targets 28% Growth Within Cash Flow for 2019

December 18, 2018 — Comments are Disabled

Permian operator begins scalable program: will drop back to 18-22 rigs and 8 frac crews due to lower oil prices, but dramatically higher commodity pricing will reflect a “mix of growth and increasing return of capital” Diamondback Energy (ticker: FANG) announced 2019 guidance today, outlining the company’s outlook now that it has closed the Energen acquisition. The company estimates full[Read More…]

Canada

Canada Offers $1.1 Billion in Loans for Oil Sector Liquidity

Canada Offers $1.1 Billion in Loans for Oil Sector Liquidity

December 18, 2018 — Comments are Disabled

From Bloomberg The Canadian government announced C$1.5 billion ($1.1 billion) in loans for the oil and gas sector, as well as some government funding for unspecified projects, after a supply glut sank heavy crude prices to as low as $13.46 a barrel last month. The country’s energy and trade ministers announced the aid package Tuesday morning in Edmonton. It includes “commercial financial[Read More…]

Master Limited Partnership (MLP)

SemGroup Announces New Cushing-to-Houston Pipe, Open Season for Gladiator

SemGroup Announces New Cushing-to-Houston Pipe, Open Season for Gladiator

December 4, 2018 — Comments are Disabled

SemGroup (ticker: SEMG) and DCP Midstream (ticker: DCP) have announced open season for a new pipeline system called Gladiator. The new Gladiator pipeline would run from SemGroup’s Cushing, Oklahoma terminal to Gulf coast markets, terminating near Houston, bringing producers the ability to transport segregated, light batches of crude oil all the way to the Gulf coast region. Conversion of Southern[Read More…]