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February 22, 2019

A Milestone: One of the Longest Laterals in Permian History Took Only 25 Days to Drill

February 22, 2019

Parsley Pioneers Three-Mile Lateral in Permian By Richard Rostad, analyst, Oil & Gas 360 A drilling slowdown during Q4 did not prevent Parsley Energy (stock ticker: PE, $PE) from achieving several major drilling-related milestones. Parsley reports it drilled one of the longest wells in the Permian recently, a three-mile lateral. This well took only 25 days to drill, with less

How Pemex ‘Destroyed’ $1 Billion With Erratic Business Choices

February 22, 2019

From Reuters Mexico’s state-oil company Pemex burned through $665 million at its fertilizer unit, ignored consultants and made high-risk investments with no discernible business strategy, according to a devastating government audit of its 2017 operations. The report, published late on Wednesday, offers insight into how Pemex ended up creaking under $106 billion of debt during the six-year term of former

Finding Costs Drop to 10-Year Low - Oil & Gas 360

Exxon Partners With Microsoft to Boost Permian Oil Production

February 22, 2019

From Bloomberg Exxon Mobil Corp. is partnering with Microsoft Corp. to crunch trillions of bits of data as the oil titan seeks to more than triple shale-oil production in the Permian Basin in less than a decade. Exxon will use Microsoft’s cloud-computing technology to monitor and analyze the vast amounts of data generated by its sprawling array of drilling rigs, wells,

Islamist Militants Stage Deadly Attack On Anadarko Mozambique Site

February 22, 2019

From Bloomberg An attack on an Anadarko Petroleum Corp. convoy in Mozambique was one of multiple raids that took place Thursday in an area where companies plan to develop $50 billion of liquefied natural gas projects, according to two people familiar with the matter. An Anadarko contractor was beheaded in the violence, the people said, asking not to be identified because they’re

Resolute Stockholders Approve Merger with Cimarex

February 22, 2019

Target for transaction closing date is Mar. 1, 2019 Resolute Energy Corporation (NYSE: REN) stockholders have voted to approve the adoption of the merger agreement between Resolute and Cimarex Energy Co., Resolute said in a statement. Resolute reported that 15,950,431 shares voted in favor of the proposal to adopt the merger agreement.  This represents approximately 85% of the total shares

Razor Energy: 2018 Year-End Reserves and Net Asset Value

February 22, 2019

Razor schedules special shareholder meeting to vote on issuance of preferred stock Razor Energy Corp (TSXV: RZE) announced its yearend reserves and net asset value, 2018 CapEx spending breakdown, future development costs and other financial news. HIGHLIGHTS ·  Proved Developed Producing (“PDP”) reserves value discounted at 10% (“NPV10”) before tax is $148.7 million, or $6.11 per share net asset value

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