Productivity growth is slowing EnerCom has released the latest Effective Rig Count, examining the state of drilling activity in major shale basins. The EERC is now 2,712, meaning the current level of growth would require 2,712 rigs from January 2014 to achieve. Rigs in today’s drilling environment are now 3.09 times more productive than January 2014 rigs, as operations have
Ares Management, L.P. (ticker ARES) and ARM Energy Holdings, LLC have partnered up to develop Salt Creek Midstream, LLC in the Delaware Basin. The company is owned by funds managed by the Ares Private Equity Group and ARM Energy. ARM Midstream Management, LLC, a subsidiary of ARM Energy, will serve as operator of the project. 260 MMcf/d of expandable processing
Debt involved in oil and gas company bankruptcies since 2015 totals $90 billion International corporate law firm Haynes and Boone has tracked 144 North American oil and gas producers that have filed for bankruptcy since the beginning of 2015. These bankruptcies, including Chapter 7, Chapter 11, Chapter 15 and Canadian cases, involve approximately $90.2 billion in cumulative secured and unsecured
A look at where the industry believes energy development capital will be sourced More than 80% of Haynes and Boone’s respondents in its newest borrowing base survey expect borrowing bases to increase, with most expecting 10 to 20 percent increases, the firm said today. The energy group at Haynes and Boone said that results of its Spring 2018 Borrowing Base
FS Investments (FS) and EIG Global Energy Partners (EIG) closed a transaction today, allowing EIG to manage FS Energy and Power Fund (FSEP). According to the company’s press release, FSEP will be the largest energy-focused business development company (BDC) in the marketplace with $4.3 billion in assets under management. “We are excited to enter the next phase of our partnership
Kimmeridge pushes the firm to focus on Permian Activist investors continue to shake up E&P companies, with one group now taking aim at Carrizo Oil & Gas (ticker: CRZO). Private equity firm Kimmeridge Energy disclosed an 8.1% stake in Carrizo today, roughly 6.6 million shares. According to the filing, Kimmeridge is pushing Carrizo to remedy several challenges. Kimmeridge believes Carrizo
Days after closing a merger with Fifth Creek Energy and retiring the name Bill Barrett Corp. to form a new company, HighPoint Resources Corporation (ticker: HPR), the Denver-based oil and gas company has appointed five new outside members to its board of directors, effective immediately, taking the board from six to eleven members. HighPoint’s new board members are: Mark S.
EIA predicts U.S. gas production will grow by nearly 1 Bcf/d in one month EnerCom’s Effective Rig Count rose sharply last month, as improving efficiencies combined with a jump in active rigs. The Effective Rig Count now stands at 2,670, meaning it would take 2,670 rigs from January 2014 to yield the same production as current operations are achieving. Current
Independent investment bank Moelis & Company (ticker: MC) appointed Tellurian co-founder Martin Houston as an advisory partner and as chairman of its Global Energy Group. Houston is vice chairman at Tellurian Inc., an early stage U.S. Gulf coast LNG export project that he co-founded in 2016 with Charif Souki, former CEO of Cheniere Energy. Houston was formerly COO at BG.
By ASSOCIATED PRESS U.S. stocks plunged in another dizzying day of trading Thursday as investors dissected Federal Reserve Chairman Jerome Powell’s latest testimony before Congress and the possibility of stiff tariffs on steel and aluminum imports. The Dow Jones industrial average was down more than 500 points. Stocks were higher earlier in the day after Powell appeared to calm one of
EnerCom’s Texas-based oil and gas investment conference started with a morning surprise of rare icy roads greeting visitors to Dallas, but that didn’t slow down institutional investors arriving at the Tower Club to hear oil company senior management teams present their 2018 plans and 2017 highlights. Attendees began arriving at the Thanksgiving Tower before 7:00 a.m. Vermilion Energy (ticker: VET),
Improvements in rigs, rapid pace for pad drilling, more pumping horsepower and higher efficiencies boost effective rig count to 2,495 rigs EnerCom has released the latest Effective Rig Count, examining the state of drilling activity in major shale basins. The Effective Rig Count continues to rise, and is now approaching 2,500. There are currently 2,495 effective rigs in the U.S.,
