Approach Resources Approach Resources (ticker: AREX) exceeded its production guidance for Q2, with production at 11.9 MBOEPD, and dropped its lease operating cost below guidance as well, at $3.92 per BOE. Approach drilled a total of eight wells and completed another five. One of the completed wells was in the Wolfcamp A bench, two more in the Wolfcamp B bench,
Oil and gas heavyweights Noble Energy (ticker: NBL) and Occidental Petroleum (ticker: OXY) discussed operations today in their second quarter earnings calls. Noble Eagle Ford production up 60% sequentially Noble Energy (ticker: NBL) announced a net loss of $1.5 billion, or $3.20 per share. This loss is primarily due to the company’s $1.225 billion sale of its Marcellus upstream assets,
61.8 MMcf/d from a single well Chesapeake Energy (ticker: CHK) reported net earnings today, showing results of $470 million, or $0.47 per share. Revenues for Q2 were up by 41% year-over-year, mostly due to improved commodity prices. Total production was flat sequentially, but oil production was up by 6%. Chesapeake reports that one of its newest Marcellus wells has set
40% oil production growth in 2017 WPX Energy (ticker: WPX) released second quarter results today, showing net income of $72 million, or $0.18 per share. WPX set a new record for total liquids production this quarter, producing 72,400 BPD. This is 17% higher than the company’s previous best, 62,000 BPD in Q4 2015. This quarter was WPX’s third consecutive record
Eco-Stim Energy Solutions, Inc. (ticker: ESES) said that it has entered into an agreement for a private placement of its common stock with new institutional investors and two existing stockholders. It is anticipated that the transaction will close on August 8, 2017, subject to satisfaction of customary closing conditions. As part of the offering, the Company will issue an aggregate
Kinder Morgan Canada Limited Announces Increased Preferred Share Offering
From the Saskatoon StarPhoenix The world’s largest pipeline company plans to spend $5.3 billion replacing parts of its massive “Line 3” pipeline that runs from Hardisty, Alberta, through Saskatchewan, to Gretna, Manitoba. Enbridge Pipelines Inc. announced Thursday morning that the massive construction project is expected to begin this summer, with the new 36-inch line coming into service in the second
From CCJ Hardly three months after its official debut, Uber Freight announced today it will expand services to major metros across California, Arizona, Georgia, South Carolina, North Carolina and the Chicago-Midwest region. While emphasis is placed on major corridors and freight lanes in the new regions – which, including Texas, cover more than 25 percent of the country’s drivers and loads – carriers from
Creates 70,000-employee engineering, construction juggernaut for energy, petrochemical projects From the Houston Chronicle Dallas-based Jacobs Engineering Group said it’s buying Denver’s CH2M Hill for $2.85 billion to create one of the world’s largest energy engineering firms. Jacobs, which relocated from California to Dallas last year, said the deal aims to form a juggernaut in engineering and construction services for the energy, petrochemical and government sectors.
From the National Post CALGARY — The CEO of one the biggest crude oil producers in Canada says he’s confident that the Keystone XL pipeline will be built despite doubts related to lower oil prices and regulatory obstacles. Steve Laut, CEO of Canadian Natural Resources (TSX:CNQ), said in an interview on Thursday his company is committed to use almost a
From WorkBoat This summer’s Gulf of Mexico “dead zone” – a recurring area ocean with low oxygen levels that can kill fish and other marine life – is covering 8,776 square miles, an area about the size of New Jersey, the National Oceanic and Atmospheric Administration said. It is the largest measured since dead zone mapping began there in 1985.
