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OPEC’s Abu Dhabi Meeting: We Will Need “New Strategies to Balance the Market” in 2019

OPEC’s Abu Dhabi Meeting: We Will...

With OPEC/non-OPEC conformity at 104%...

Another Blockbuster Oil Deal Creates Largest Bakken Pure-Play

Another Blockbuster Oil Deal Create...

After QEP Williston asset buy, Vantage...

Big Win for Noble Energy: Colorado Greenlights 770-Well Comprehensive Drilling Plan for 64,000 Acres in Weld County

Big Win for Noble Energy: Colorado ...

From the Denver Business Journal Colorado regulators...

Source: WPX

Rigs Surge Ahead in Wild Week

Activity breaks out of five-month equilibrium Drilling...

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  • rig

    13.5% of the Nation’s Total Oil Production Came from Just 205 Wells in 2017, and They’re Not in the Permian

    November 14, 2018

    U.S. achieves record production despite falling well count The U.S. achieved record oil production in 2017 while the number of wells in the country were decreasing, according to the EIA. The country produced 10.1 MMBOPD in November 2017, breaking the all-time record of 10 MMBOPD set in 1970. Oil production rose rapidly last year, with the country adding 1,263 MBOPD[Read More…]

  • Courtesy of Chesapeake

    Alta Mesa Announces 30% Quarterly Production Growth

    November 14, 2018

    Well spud to first oil shrinks by 31% Alta Mesa Resources (stock ticker: AMR) announced third quarter results today, showing net earnings of $7.1 million, or $0.04. The company produced an average of 33.4 MBOEPD in Q3, up over 30% from Q2, and averaged 36.8 MBOEPD in September. Kingfisher Midstream, Alta Mesa’s midstream subsidiary, is growing nearly as quickly. The[Read More…]

  • Hi-Crush will Supply Northern White Frac Sand to Chesapeake’s Marcellus and PRB Ops

    Hi-Crush will Supply Northern White Frac Sand to Chesapeake’s Marcellus and PRB Ops

    November 14, 2018

    Chesapeake Energy (stock ticker: CHK) has signed up with Hi-Crush Partners LP (stock ticker: HCLP) for a new, long-term frac sand supply agreement for the in-basin purchase of Northern White frac sand to support Chesapeake’s completions program in the Marcellus and Powder River basins. Hi-Crush Partners announced a long-term contract with Chesapeake Energy to supply Northern White sand to Chesapeake’s Marcellus and[Read More…]

  • Shale Boom Helped Lower U.S. Trade Deficit by $250 Billion: Report

    Shale Boom Helped Lower U.S. Trade Deficit by $250 Billion: Report

    November 14, 2018

    Falling U.S. petroleum imports have lowered the U.S. merchandise trade deficit by $250 billion from what it would have been otherwise, according to a report from IHS Markit. IHS reports that the U.S. production boom has exerted a moderating force on what is a large domestic merchandise trade deficit by helping reduce the country’s net petroleum imports. Furthermore, U.S. production[Read More…]

  • OPEC’s Abu Dhabi Meeting: We Will Need “New Strategies to Balance the Market” in 2019

    OPEC’s Abu Dhabi Meeting: We Will Need “New Strategies to Balance the Market” in 2019

    November 13, 2018

    With OPEC/non-OPEC conformity at 104% oil prices fall 7%-8% today The OPEC-Non-OPEC Joint Ministerial Monitoring Committee (JMMC) for November met this weekend in Abu Dhabi and noted that countries participating in the Declaration of Cooperation achieved a conformity level of 104% in October 2018. In today’s trading, Brent was off 7%. The international oil benchmark is off more than $20[Read More…]

  • Chazen’s Magnolia: Creating A Company for The Generalists

    Chazen’s Magnolia: Creating A Company for The Generalists

    November 13, 2018

    Magnolia Oil & Gas (stock ticker: MGY) announced third quarter results today, showing pro forma net earnings of $57.9 million. Magnolia produced an average of 55.2 MBOEPD on a pro forma basis in Q3, up 11% from Q2. The company is increasing its overall 2018 performance guidance on the strength of this growth, with projections rising from 50 MBOEPD to[Read More…]

  • Appalachian Monthly Gas Growth Exceeds 400 MMcf/d

    Appalachian Monthly Gas Growth Exceeds 400 MMcf/d

    November 13, 2018

    Effective Rig Count up on reported rig counts EnerCom has released its latest Effective Rig Count, examining the state of drilling activity and the reported production from the major shale basins. The Effective Rig Count rose in October, reversing the past month’s decline. The Effective Rig Count is currently 2,780, up 14 from last month. This increase was entirely due[Read More…]

  • Bonanza Creek Lands CFO

    Bonanza Creek Lands CFO

    November 13, 2018

    DJ Basin producer Bonanza Creek Energy, Inc. (stock ticker: BCEI) has hired Brant H. DeMuth as its CFO, effective Nov. 14, 2018. To join Bonanza Creek, DeMuth exits his post as VP of Finance and Treasurer at Denver-based SRC Energy Inc. (stock ticker: SRCI). Prior to joining SRC Energy, DeMuth served as Interim CFO of DJ Resources, LLC and as EVP of strategy and corporate development of[Read More…]

  • Oil Majors Exxon, Chevron, Conoco, Shell Circling Private Permian Basin Operator Endeavor, Founding Family Considers IPO

    Oil Majors Exxon, Chevron, Conoco, Shell Circling Private Permian Basin Operator Endeavor, Founding Family Considers IPO

    November 13, 2018

    From Investor’s Business Daily Exxon Mobil (stock ticker: XOM), Chevron (stock ticker: CVX), ConocoPhillips (stock ticker: COP) and Royal Dutch Shell (stock ticker: RDSA) are reportedly interested in buying Endeavor Energy Resources, a privately held Permian Basin acreage holder. Chevron and Exxon are reportedly submitting first round bids for privately held Endeavor, sources told Bloomberg. Shell is considering participating and Conoco is also reportedly interested. Endeavor could be[Read More…]

  • Pioneer Flips Permian Basin Pressure Pumping Operation to ProPetro for $110 Million Cash plus 17% Ownership

    Pioneer Flips Permian Basin Pressure Pumping Operation to ProPetro for $110 Million Cash plus 17% Ownership

    November 13, 2018

    Deal to sell Pioneer Pumping Services’ HHP, coiled tubing units and maintenance operations includes a long-term service contract to provide pressure pumping in the Permian Basin for up to a decade Pioneer Natural Resources Company (stock ticker: PXD) said it is selling its pressure pumping assets–Pioneer Pumping Services–to Midland-based ProPetro Holding Corp. (stock ticker: PUMP), and in the process locking up dedicated[Read More…]


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E&P

rig

13.5% of the Nation’s Total Oil Production Came from Just 205 Wells in 2017, and They’re Not in the Permian

November 14, 2018 — Comments are Disabled

U.S. achieves record production despite falling well count The U.S. achieved record oil production in 2017 while the number of wells in the country were decreasing, according to the EIA. The country produced 10.1 MMBOPD in November 2017, breaking the all-time record of 10 MMBOPD set in 1970. Oil production rose rapidly last year, with the country adding 1,263 MBOPD[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…]