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360 Articles

Bam! – It’s Earnings Season Again

Bam! – It’s Earnings Season Again

By Aaron Vandeford, Managing Director, EnerCom EnerCom, Inc. has compiled Second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 95 E&P and 73 Oilfield Service companies in the EnerCom database. Download EnerCom’s full chart of estimates. Listen to Q2 earnings calls. The median E&P company earnings estimate for the quarter ending June 30,[Read More…]

Tamarack Valley Energy CEO Brian Schmidt Discusses Ramping his Company’s Waterflood on a Billion-Barrel Oilfield

Tamarack Valley Energy CEO Brian Schmidt Discusses Ramping his Company’s Waterflood on a Billion-Barrel Oilfield

Canada’s curtailments, Cardium’s surprise: Tamarack Valley drills a record lateral for Western Canada Tamarack Valley Energy (stock ticker: TVE, $TVE) is a Canadian exploration and production company with strong economics and a few nice surprises in Q1 2019. The company’s operating netbacks for the quarter were 58% higher than Q4 2018. Oil & Gas 360® had the opportunity this week to[Read More…]

Lion Point Capital to Carrizo: Buy More Permian, Look at a Merger or Combination with Another Operator

Lion Point Capital to Carrizo: Buy More Permian, Look at a Merger or Combination with Another Operator

Carrizo responds to activist investor Hedge fund Lion Point Capital has filed a Form 13D showing beneficial ownership of approximately 4.7 million shares of Carrizo Oil & Gas (stock ticker: CRZO; $CRZO) that the filing said was worth north of $65 million. That gives Lion Point a little more than 6% of the one billion-dollar (market cap) E&P. In the[Read More…]

Pioneer Natural Resources: “I Didn’t Come Back to Sell the Company” – Pioneer CEO Scott Sheffield

Pioneer Natural Resources: “I Didn’t Come Back to Sell the Company” – Pioneer CEO Scott Sheffield

On the call: talks about using the “DrillCo” structure By Richard Rostad, analyst, Oil & Gas 360 Pioneer Natural Resources (ticker: PXD) announced first quarter results today, showing $350 million in net income or $2.06 per share. Pioneer produced an average of 320 MBOEPD in Q1 from the Permian, above expectations. The company spent $928 million in the basin this[Read More…]

EOG Earns $635 Million, Plans International Crude Exports

EOG Earns $635 Million, Plans International Crude Exports

Guidance: production above, CapEx below By Richard Rostad, analyst, Oil & Gas 360 EOG Resources (ticker: EOG) announced first quarter results today, showing net income of $635 million, or $1.10 per share. EOG reported much smaller derivative losses than many E&P companies this quarter, with derivative losses of only $20.5 million. After adjusting for derivatives and other charges, EOG earned[Read More…]

Rising Oil Price Only Accelerates Free Cash: Parsley

Rising Oil Price Only Accelerates Free Cash: Parsley

In-basin sand is saving $500,000 per well By Richard Rostad, analyst, Oil & Gas 360 Parsley Energy (ticker: PE) announced first quarter results today, showing a net loss of $24.1 million, or ($0.09) per share. After excluding derivative losses and other special items, Parsley earned an adjusted $62.3 million, or $0.22 per share in the quarter. The company produced 125.4[Read More…]

Northern Delaware Basin Operations 

From Concho.com

Shale M&A: We Are “Always Available” – Concho

“We’re always available for someone to acquire some ownership if they would like” By Richard Rostad, analyst, Oil & Gas 360 Concho Resources (ticker: CXO) announced first quarter results today, showing a net loss of $695 million, or ($3.49) per share. Like many other companies in this quarter, Concho saw major derivative losses in the quarter. If these are excluded,[Read More…]

Devon’s Big New Wells Pack a Punch

Devon’s Big New Wells Pack a Punch

5 new wells producing 10 MBOEPD each are adjacent to last year’s 12 MBOEPD wells By Richard Rostad, analyst, Oil & Gas 360 Devon Energy (ticker: DVN) announced first quarter results today, showing a net loss of $317 million, or ($0.74) per share. This loss was primarily due to derivative losses, and if these and other special charges are excluded,[Read More…]

Who Beats? Who Misses? BAM: It’s Earnings Season (Again) – Here are the Q1 2019 Oil & Gas Company Estimates

Who Beats? Who Misses? BAM: It’s Earnings Season (Again) – Here are the Q1 2019 Oil & Gas Company Estimates

Seems like just yesterday it was Q4 reporting season. But time between quarterly earnings reports accelerates within the public company universe, and Q1 reporting season is here. EnerCom, Inc. has compiled first quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 95 E&P and 76 Oilfield Service companies in the EnerCom database. Download EnerCom’s[Read More…]

Talos Energy Hopes to Consolidate in the Gulf

Talos Energy Hopes to Consolidate in the Gulf

Targets range from small privates to supermajor-owned assets By Richard Rostad, analyst, Oil & Gas 360 Talos Energy (ticker: TALO) announced fourth quarter results and reserves today, showing $306.3 million in net income, or $5.66 per share. While most of this result is due to the company’s derivatives, even if these and other special charges are excluded Talos earned an[Read More…]

March 14, 2019 - 5:43 pm 360 Articles, Closing Bell Story, Crude Oil News, E&P, Earnings
Source: Canadian Oil Sands Ltd.

Canadian Oil Sands: Producers Weigh In On Curtailments, Historically High Differentials, Transporting Oil Out

Q4 earnings caps a wild quarter By Richard Rostad, analyst, Oil & Gas 360 Two major Canadian oil sands producers, Canadian Natural Resources (ticker: CNQ) and Meg Energy (ticker: MEG) held conference calls late this week, providing a glimpse of the thoughts of two of the largest producers in the country. As might be expected, both companies experienced wild quarters[Read More…]

Berry Says All 2019 CapEx Will Go to California

Berry Says All 2019 CapEx Will Go to California

$210 million in 2019 spending By Richard Rostad, analyst, Oil & Gas 360 Berry Petroleum (stock ticker: BRY, $BRY) announced fourth quarter results and reserves today, showing net earnings of $131.8 million, or $1.56 per share. This is the best single-quarter result Berry has recorded in its short history as a public company, though it was improved by derivatives. If[Read More…]

March 7, 2019 - 4:59 pm 360 Articles, Closing Bell Story, Crude Oil News, E&P, Earnings
Tourmaline May Take CNQ’s Title as Canada’s Largest Gas Producer

Tourmaline May Take CNQ’s Title as Canada’s Largest Gas Producer

Canadian NatGas producer Tourmaline is growing—fast; free cash will pay for dividend, debt reduction By Richard Rostad, analyst, Oil & Gas 360 Tourmaline Oil (ticker: TOU) announced fourth quarter results and reserves today, showing net earnings of $190.9 million, or $0.70 per share.  The company’s Q4 2018 earnings are more than double those of Q4 2017, as improved natural gas[Read More…]

DJ Producers Weigh In on What They Expect in 2019

DJ Producers Weigh In on What They Expect in 2019

Two of the major DJ Basin producers, HighPoint Resources (stock ticker: HPR) and Bonanza Creek Energy (stock ticker: BCEI) held earnings calls last week, discussing prevailing views in one of the country’s premier shale basins. By Richard Rostad, analyst, Oil & Gas 360 On potential new regulations [EDITOR’S NOTE: both earnings calls were held prior to the proposed new energy[Read More…]

Source: Southwestern Energy

Southwestern Plans 25% Per-Foot Cost Savings in 2019

Ultra-long laterals becoming more popular By Richard Rostad, analyst, Oil & Gas 360 Southwestern Energy (ticker: SWN) announced fourth quarter results and reserves last week, showing $307 million in net income, or $0.54 million per share. Fayetteville sale refocuses company Southwestern produced an average of 2.54 Bcfe/d in Q4, down slightly from the 2.60 Bcfe/d the company produced in Q4[Read More…]

March 5, 2019 - 7:23 am 360 Articles, Closing Bell Story, E&P, Earnings, Natural Gas News
Source: QEP Resources

Jagged Peak Supporting 5 Rigs, 1 Completion Crew in Southern Delaware

Eyes 15% cost savings in 2019 By Richard Rostad, analyst, Oil & Gas 360 Jagged Peak Energy (ticker: JAG) announced fourth quarter results and reserves today, showing net income of $186.3 million, or $0.87 per share. Most of this profit is due to derivatives, and if these and other special charges are excluded Jagged Peak earned $28.2 million in Q4.[Read More…]

Apache Stops Oil Drilling at Alpine High

Apache Stops Oil Drilling at Alpine High

New Alpine High development targets rich gas, NGLs By Richard Rostad, analyst, Oil & Gas 360 Apache Corporation (ticker: APA) reported fourth quarter results and reserves today, showing a net loss of $381 million, or ($1.00) per share. This result was impacted by several impairments, and if these and other special charges are excluded Apache’s Q4 income totaled $119 million,[Read More…]

PDC Emphasizes Cash Flow in Executive Compensation

PDC Emphasizes Cash Flow in Executive Compensation

New comp plan is based on cash flow per debt-adjusted share, free cash flow as a percent of total capital investment, capital efficiency, LOE and G&A per BOE and production By Richard Rostad, analyst, Oil & Gas 360 PDC Energy (ticker: PDCE) announced fourth quarter results today, showing $178.8 million in net income, or $2.71 per share. PDC produced 128[Read More…]

Whiting Targets Free Cash at $55 Oil

Whiting Targets Free Cash at $55 Oil

Whiting generated free cash in each quarter of 2018 By Richard Rostad, analyst, Oil & Gas 360 Whiting Petroleum (ticker: WLL) announced fourth quarter results and reserves today, showing $204 million in net income, or $2.24 per share. This result is far better than the $798 million loss Whiting posted in Q4 2017, but after adjusting for derivatives and other[Read More…]

EOG Looks Beyond the Permian and Eagle Ford

EOG Looks Beyond the Permian and Eagle Ford

New basins claim growing share of CapEx By Richard Rostad, analyst, Oil & Gas 360 EOG Resources (ticker: EOG) announced fourth quarter results and reserves today, showing $893 million in net income, or $1.54 per share. EOG produced 764.5 MBOEPD in Q4, 430.3 MBOPD of which was crude oil from the U.S. This exceeds the high end of the company’s[Read More…]

rig

Centennial Waits for A More Favorable Oil Market

“We don’t intend to pursue significant production growth in a $55 oil world” By Richard Rostad, analyst, Oil & Gas 360 Centennial Resource Development (ticker: CDEV) announced fourth quarter results and reserves today, showing earnings of $31.0 million, or $0.12 per share. This is almost perfectly in line with Centennial’s Q4 2017 results, when the company earned $30.5 million. Full-year[Read More…]

Range Eyes Debt Reduction With Free Cash Proceeds

Range Eyes Debt Reduction With Free Cash Proceeds

Moderate growth can produce $1.2 billion in free cash over next five years By Richard Rostad, analyst, Oil & Gas 360 Range Resources (ticker: RRC) announced fourth quarter results and reserves today, showing $52.5 million in net income, or $0.21 per share. Range produced 2.15 Bcfe/d in Q4, and 2.20 Bcfe/d overall in 2018. Range reports its Q4 output was[Read More…]

February 26, 2019 - 5:26 pm 360 Articles, Closing Bell Story, E&P, Earnings, Natural Gas News
New York Faces a Bleak Economic Future without Gas, Says Cabot CEO Dan Dinges

New York Faces a Bleak Economic Future without Gas, Says Cabot CEO Dan Dinges

Cabot Oil & Gas CEO says ConEd’s moratorium on new gas hook-ups beginning in March will create ‘significant calamity’ for New York By Richard Rostad, analyst, Oil & Gas 360 Cabot Oil & Gas’s (stock ticker: COG, $COG) conference call offered a chance for Chairman, President and CEO Dan Dinges to give his thoughts on the company’s position and the[Read More…]

February 25, 2019 - 5:41 pm 360 Articles, Closing Bell Story, E&P, Earnings, Natural Gas News
Courtesy of Extraction Oil & Gas, Inc.

Extraction Shares See Best Day Since IPO

Stock up 19% on earnings By Richard Rostad, analyst, Oil & Gas 360 Extraction Oil & Gas (ticker: XOG) announced fourth quarter results and reserves today, showing net income earnings of $99.9 million, or $0.52 per share. Extraction earned $114.6 million over the full year, $0.56 per share. Both of these results vastly exceed the previous year’s results, as Extraction[Read More…]

Source: Southwestern Energy

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

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[Read More…]

Cimarex Pivots to the Permian

Cimarex Pivots to the Permian

85% of drilling CapEx will go to the Delaware By Richard Rostad, analyst, Oil & Gas 360 Cimarex Energy (ticker: XEC) announced fourth quarter results and reserves today, showing $316.2 million in net income, or $3.32 per share. This result is nearly double the $174.7 million the company earned in Q4 2017, though when results are adjusted for special charges[Read More…]

WPX Energy, Delaware basin. Three drilling rigs on multi-well pads. L to R: Orion Drilling, Pegasus on the CBR 22-10H, Aries on the CBR 22-14H.

WPX: “We Are Upping Our Game”

CapEx plan drops 23%, funded at $50 WTI By Richard Rostad, analyst, Oil & Gas 360 WPX Energy (ticker: WPX) announced fourth quarter results and reserves today, showing net income of $353 million, or $0.83 per share. This result was primarily due to derivatives, and if these and other special charges are excluded, WPX earned an adjusted net income of[Read More…]

Devon to Divest Its 2nd, 3rd Largest Assets

Devon to Divest Its 2nd, 3rd Largest Assets

Canadian heavy oil, Barnett assets go on the block – could be sale or spinoff By Richard Rostad, analyst, Oil & Gas 360 Devon Energy (ticker: DVN) announced Q4 results and reserves today, showing net earnings of $1.1 billion, or $2.48 per share. This result vastly exceeds the $183 million Devon earned in Q4 2017, and Devon’s full-year results show[Read More…]

Oxy: We’re Not Trying to Outpace the Majors, We’re Trying to Outperform Them

Oxy: We’re Not Trying to Outpace the Majors, We’re Trying to Outperform Them

Eighth quarterly profit in a row By Richard Rostad, analyst, Oil & Gas 360 Occidental Petroleum (ticker: OXY) reported Q4 results and reserves today, showing $706 million in net income, or $0.93 per share. Oxy earned a total of $4.1 billion in 2018, significantly improved from the $1.3 billion the company earned in 2017. This quarter marks the eighth consecutive[Read More…]

PDC Plans Free Cash in 2019 At $50 Oil

PDC Plans Free Cash in 2019 At $50 Oil

CapEx down 15%, production up 20% By Richard Rostad, analyst, Oil & Gas 360 PDC Energy (ticker: PDCE) announced 2019 guidance today, outlining the company’s transition from aggressive growth to a more moderate posture. PDC plans to spend about $840 million in 2019, down from the $985 million the company spent in 2018. The vast majority of this sum, $800[Read More…]