More Hz Drilling in Cotton Valley and Woodford with a Gulf Coast Catalyst around the Corner In a non-deal roadshow in mid-October, PetroQuest Energy (ticker: PQ) executives told investors and analysts that they expected the company would end 2014 with record production and reserves. After reporting its Q3’14 and nine months results, PQ appears to be on track to meet
Unit Corporation (ticker: UNT) is a diversified energy company with three business segments focused on upstream, midstream and drilling operations. The company celebrated its 50th Anniversary in 2013 and is projecting year-over-year growth of 9% to 10% in 2014, with 4% of the growth anticipated in the upcoming fourth quarter. Q3’14 Financial Results Unit reported net income of $67.5 million
After the Republican victories in the mid-term elections, many are now talking about the likely approval of the long awaited Keystone XL Pipeline. The pipeline, which would stretch 1,179 miles from Hardisty, Alberta to Steele City, Nebraska, has been in political limbo since 2009, awaiting approval from the Senate and President Obama. The president was concerned with the environmental impacts
Occidental Petroleum Corporation (OXY) today announced the entrance into an agreement with Plains All American Pipeline, L.P. (PAA) and Plains GP Holdings, L.P. (PAGP) to sell its 50 percent interest in BridgeTex Pipeline Company, LLC (BridgeTex) to PAA for $1.075 billion. BridgeTex, a company jointly owned by Occidental and Magellan Midstream Partners, L.P., owns the BridgeTex Pipeline, a 300,000 barrel-per-day
Apache Corporation (NYSE, Nasdaq: APA) today announced that non-cash charges resulted in a third-quarter 2014 net loss of $1.3 billion or $3.50 per diluted common share. Adjusted earnings, which exclude certain items that impact the comparability of results, totaled $528 million or $1.38 per share. Net cash provided by operating activities totaled approximately $1.9 billion in the third quarter of 2014,
PDC Energy, Inc. (“PDC,” the “Company,” “we” or “us”) (PDCE) today reported its 2014 third quarter financial and operating results. Highlights of 2014 Third Quarter Compared to 2013 Third Quarter Increased production 57% to 29,400 barrels of oil equivalent per day (“Boe/d”) from all operations. Increased production 60% to 25,600 Boe/d from Wattenberg and Utica (continuing operations). Increased crude oil
US Seismic Systems, Inc., an Acorn Energy, Inc. (ACFN) company announced today that it has secured an order of strategic importance for its Optiphone HD™ Ultra-High Sensitivity fiber-optic based sensor system. Working with one of its partners, a major oilfield services company, USSI will supply two arrays under this order. The order, from one of the world’s largest national oil companies,
Oil & Gas 360®’s chart of the week points to the differences in the average number of days to acquire a permit to drill on federal lands vs. various states. The Feds require 45 times longer to issue a permit than the State of Texas. Federal permitting time increased by almost 50% between 2005 and 2012. Congressman Fred Upton offered
