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  • Berry Petroleum Announces First Full Quarter as Public Company

    Berry Petroleum Announces First Full Quarter as Public Company

    November 12, 2018

    Brent pricing dominates California operations Berry Petroleum (ticker: BRY) announced third quarter results today, its first full quarter as a public company, showing net losses of $50 million. After adjusting for the dividend and hedging, Berry earned an adjusted $41 million in the quarter. Berry produced 27.1 MBOEPD in Q3, up slightly from the 26.8 MBOEPD the company produced in[Read More…]

  • Rosehill Reports 273% YOY Production Growth

    Rosehill Reports 273% YOY Production Growth

    November 12, 2018

    Houston-based Rosehill Resources Inc. (ticker: ROSE) reported its Q3 results yesterday and held its earnings call last week. Highlights from the Q3 earnings report included: Reported a net loss attributable to Rosehill of $31.4 million, or $4.76 per share, for the three months ended September 30, 2018, which included a $62.3 million non-cash, pre-tax loss on commodity derivative instruments. Third[Read More…]

  • EP Energy Q3: Reducing Leverage with Record Wells

    EP Energy Q3: Reducing Leverage with Record Wells

    November 9, 2018

    EP Energy Corporation (ticker: EPE) reported its Q3 results and held its earning call yesterday. Improvements with completions and new Eagle Ford & Permian Assets EP has renamed its position in the Uinta Basin to Northeastern Utah or NEU.  In the third quarter of 2018, the company produced 17.5 MBoe/d, including 12.0 MBbls/d of oil, a four percent decrease from the third[Read More…]

  • Source: WPX

    Rigs Surge Ahead in Wild Week

    November 9, 2018

    Activity breaks out of five-month equilibrium Drilling activity increased sharply this week, reaching another post-downturn high, according to the latest edition of Baker Hughes’ Weekly Rig Count. A net 14 rigs began drilling this week, meaning there are now 1,081 rigs active in the U.S. This represents a decisive break from the past five months, when rig counts hovered around[Read More…]

  • Source: QEP Resources

    QEP Moves towards Pure-Play Midland

    November 9, 2018

    Denver-based QEP Resources Inc. (ticker: QEP) reported its Q3 Results Wednesday. Pure-play is right move for QEP’s size QEP is well on the course to being a pure-play Permian company, with the sale of its Bakken assets announced earlier this week. QEP Chairman, President and CEO Charles Stanley outlined some of the advantages to being a pure-play producer in the[Read More…]

  • Cimarex Reports Major Lea County Wells

    Cimarex Reports Major Lea County Wells

    November 9, 2018

    Production up 8% quarterly, 17% year-over-year Cimarex Energy (ticker: XEC) announced third quarter results today, showing net income of $148.4 million, or $1.56 per share. Cimarex produced an average of 218.6 MBOEPD in Q3, 63.9 MBOPD of which was oil. This oil production level represents 17% pro forma growth year-over-year, or 8% quarterly growth. Cimarex brought net 46 wells online[Read More…]

  • "El Merk, Algeria, March 2013: The CPF Photo by Mike Goldwater"

    Anadarko Divests Midstream Assets for $4 Billion

    November 8, 2018

    Western Gas announces drop-down, simplification Western Gas Partners (ticker: WES) announced several moves today, expanding its holdings and simplifying its corporate structure. Western Gas Partners will acquire $4 billion in midstream assets from its parent Anadarko (ticker: APC), all the company’s remaining midstream assets. These assets include oil and water gathering pipelines in the Delaware, including associated treatment and disposal[Read More…]

  • Pioneer Exporting 70% of its Oil Production: We Are Now a Brent-Priced Company – Tim Dove

    Pioneer Exporting 70% of its Oil Production: We Are Now a Brent-Priced Company – Tim Dove

    November 8, 2018

    Pioneer Natural Resources (ticker: PXD) reported third quarter results yesterday, showing net income of $411 million, or $2.39 per share. The company produced 288 MBOEPD in the Permian, up 5% from the previous quarter. This is at the high end of guidance, driven by 7% growth in Permian oil production. A few surprises Considering the differential pressure most operators are[Read More…]

  • Tamarack Valley Reports Record Production

    Tamarack Valley Reports Record Production

    November 8, 2018

    Differentials may lead to deferred completions Tamarack Valley Energy (ticker: TVE) announced third quarter results today, showing net income of $13 million, or $0.06 per share. The company reported record production this quarter, with an output of 24,765 BOEPD, up 21% year-over-year. Tamarack spent $78.1 million drilling and completing wells in Q3, a program that the company reports has demonstrated[Read More…]

  • Ultra Petroleum Appoints CFO, General Counsel – Reports Q3 Profits

    Ultra Petroleum Appoints CFO, General Counsel – Reports Q3 Profits

    November 8, 2018

    Pad drilling program for Pinedale vertical wells is lowering costs Ultra Petroleum Corp. (ticker: UPL) has appointed two officers. David Honeyfield has been named CFO, and Andrew Kidd was named general counsel. David Honeyfield has more than 25 years of experience in the energy and natural resources fields with a strong background in accounting and the corporate management of public oil and gas companies,[Read More…]


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E&P

Berry Petroleum Announces First Full Quarter as Public Company

Berry Petroleum Announces First Full Quarter as Public Company

November 12, 2018 — Comments are Disabled

Brent pricing dominates California operations Berry Petroleum (ticker: BRY) announced third quarter results today, its first full quarter as a public company, showing net losses of $50 million. After adjusting for the dividend and hedging, Berry earned an adjusted $41 million in the quarter. Berry produced 27.1 MBOEPD in Q3, up slightly from the 26.8 MBOEPD the company produced in[Read More…]

Canada

Oil Pucks and Pellets; Canada Eyes New Ways to Move Stranded Crude

Oil Pucks and Pellets; Canada Eyes New Ways to Move Stranded Crude

November 12, 2018 — Comments are Disabled

From Reuters Canada’s biggest railroad says it is attracting interest from oil producers in its effort to move crude in solid, puck-like form, as clogged pipelines divert more oil to riskier rail transport. Congested pipelines have stranded much of Canada’s crude in Alberta, driving discounts to record-high levels. Canadian heavy crude traded on Friday for less than one-third of the[Read More…]

Master Limited Partnership (MLP)

"El Merk, Algeria, March 2013: The CPF Photo by Mike Goldwater"

Anadarko Divests Midstream Assets for $4 Billion

November 8, 2018 — Comments are Disabled

Western Gas announces drop-down, simplification Western Gas Partners (ticker: WES) announced several moves today, expanding its holdings and simplifying its corporate structure. Western Gas Partners will acquire $4 billion in midstream assets from its parent Anadarko (ticker: APC), all the company’s remaining midstream assets. These assets include oil and water gathering pipelines in the Delaware, including associated treatment and disposal[Read More…]