Thursday, May 1, 2025

U.S. Rig Count Below 900

11 more rigs shut down U.S. drilling activity continued to fall this week, according the latest edition of Baker Hughes’ Weekly Rig Count. The total number of rigs active in the U.S. fell to 898 this week, the first time the count has been below 900 since May. Eleven rigs shut down in the week, split between nine land-based rigs

Murphy Oil Corporation Enters the Permain, Gulf of Mexico, and Explores Offshore Brazil

On November 1, 2017 Murphy Oil Corporation (Ticker: MUR) announced its entry into the Permian basin along with its financial and operating results for third quarter of 2017, included a net loss of $66 million, or $0.38 per diluted share. Highlights Achieved decade-low lease operating expense of $7.58 per boe, surpassing second quarter 2017 record Disclosed low-cost onshore entry into Midland Basin, currently

Sanchez Oil

Sanchez Energy Targets Multi-Zone Eagle Ford Development

Good production from Lower Eagle Ford A & B benches Sanchez Energy (ticker: SN) announced third quarter results today, showing a net loss of $62.6 million, or ($0.81) per share. After excluding the company’s mark-to-market hedging loss of $52.2 million and other special charges, the company posted an adjusted loss of $9.4 million. Sanchez produced 73.8 MBOEPD in Q3, which

SM Energy Reports 31% Increase in Permian Production

Acquired properties outperforming expectations SM Energy (ticker: SM) announced third quarter results today, showing a net loss of $89.1 million, or ($0.80) per share. Q3 was a big quarter for SM’s Permian properties, with production taking off. Permian production totaled 3 MMBOE this quarter, a 31% increase from Q2 and a 118% increase from Q4 2016. SM is currently operating

SandRidge

SandRidge Energy, Inc. Confirms Production in the Niobrara, Drills First Meramec Well in Oklahoma.

On November 1, 2017 SandRidge Energy, (ticker: SD) announced third quarter financial and operational results. Highlights Confirmed All Four North Park Basin Niobrara Benches (A, B, C and D) Productive Achieved $0.5 Million D&C Capital Reduction on North Park Niobrara Two-Mile XRLs Spud Initial Wells Under NW STACK Drilling Participation Agreement Confirmed Meramec/Osage Stacked Pay in NW STACK Spacing Test