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360 Articles

Price Increase from U.S. Silica Does Not Apply to Frac Sand

Price Increase from U.S. Silica Does Not Apply to Frac Sand

One of the large frac sand providers, U.S. Silica Holdings, Inc. (stock ticker: SLCA), said today that its Industrial and Specialty Products business for silica sand will increase 2019 prices for most of its non-contracted silica sand and specialty products from 2 to 9 percent, depending on the product and grade. U.S. Silica VP of Investor Relations and Corporate Communications[Read More…]

December 5, 2018 - 1:57 pm 360 Articles, Closing Bell Story, Fracing, Oilfield Services
Colorado Ballot Initiative Came Closer to Shutting Down Drilling than Initial Count Indicated

Colorado Ballot Initiative Came Closer to Shutting Down Drilling than Initial Count Indicated

Now that a final tally of votes is complete, it’s clear that the highly contested ballot proposal that would have imposed a chokehold 2,500-foot setback rule on new oil and gas drilling in Colorado was closer to being adopted than the initial vote count indicated immediately after the election. According to the Colorado Secretary of State’s Nov. 28 update of[Read More…]

November 28, 2018 - 5:39 pm 360 Articles, Closing Bell Story, E&P, Fracing, Politics
Hi-Crush will Supply Northern White Frac Sand to Chesapeake’s Marcellus and PRB Ops

Hi-Crush will Supply Northern White Frac Sand to Chesapeake’s Marcellus and PRB Ops

Chesapeake Energy (stock ticker: CHK) has signed up with Hi-Crush Partners LP (stock ticker: HCLP) for a new, long-term frac sand supply agreement for the in-basin purchase of Northern White frac sand to support Chesapeake’s completions program in the Marcellus and Powder River basins. Hi-Crush Partners announced a long-term contract with Chesapeake Energy to supply Northern White sand to Chesapeake’s Marcellus and[Read More…]

November 14, 2018 - 5:01 pm 360 Articles, Closing Bell Story, Fracing, Oilfield Services
Drilling in Colorado Lives to See Another Day: Proposition 112 Fails - Photo: Oil & Gas 360

Drilling in Colorado Lives to See Another Day: Proposition 112 Fails

Colorado oil and gas companies breathe a sigh of relief – and their share prices respond Turns out DCP Midstream CEO Wooter van Kempen’s ‘glass more than half full’ philosophy was prophetic. During his company’s Q3 conference call yesterday van Kempen made multiple predictions as to the fate of 112 and he repeated his faith in Colorado voters in response[Read More…]

November 7, 2018 - 2:46 pm 360 Articles, Closing Bell Story, E&P, Fracing, Politics, Popular 2, Regulatory
1.5 Million Ballots are In but the Fate of Colorado Oil & Gas Development Will Remain a Mystery until Tuesday Night

1.5 Million Ballots are In but the Fate of Colorado Oil & Gas Development Will Remain a Mystery until Tuesday Night

With 1.5 million ballots turned in, the split between the Yes and No vote in an ‘Educated Guess Scenario’ for Prop 112 has closed to two-tenths of one percent The Colorado Secretary of State published the latest ballot count this morning, with two days left to vote. 1.5 Million Ballots are In: Fate of Colorado Oil & Gas Development Will[Read More…]

November 5, 2018 - 5:10 pm 360 Articles, Closing Bell Story, E&P, Fracing, Politics, Popular 1, Regulatory
Schlumberger CEO Sees Temporary U.S. Frac Slowdown

Schlumberger CEO Sees Temporary U.S. Frac Slowdown

Schlumberger CEO Kibsgaard says several key customers said they will lay down all their frac fleets from middle November until middle January No slowdown in international Houston-based oilfield services giant Schlumberger (ticker: SLB) reported its Q3 results Friday and CEO Paul Kibsgaard made some interesting comments on the call about the company’s projections for frac activity in the U.S. seeing[Read More…]

Colorado Ballots Arrive During Massive TV-Radio Ad Blitz

Colorado Ballots Arrive During Massive TV-Radio Ad Blitz

Both sides of 112 are advertising on Spotify as ballots are being delivered The advertising messages to vote ‘No on Prop 112’ are everywhere you look and listen on Denver area TV and radio. The stakes are high for the oil and gas industry and its workers if Proposition 112 passes. Proposition 112 is the 2018 citizen-initiated ballot initiative backed[Read More…]

October 19, 2018 - 5:46 pm 360 Articles, Closing Bell Story, E&P, Fracing, Politics, Regulatory
COGCC v. Martinez Colorado Supreme Court - photo: Oil & Gas 360

This was the Scene at the Colorado Supreme Court during the Martinez Case Oral Arguments

Just 500 feet from the courthouse, a pro-oil rally at the capitol steps asked people to “Vote No on Proposition 112”  Below: summary of the Martinez case and breakdown of the oral arguments It was a busy day for oil and gas in Colorado on Oct. 16. At lunchtime, several hundred industry supporters joined a ‘Mayors Against Proposition 112’ rally[Read More…]

Will Colorado’s Outperforming Economy Tank if Prop. 112 Succeeds at the Polls?

Will Colorado’s Outperforming Economy Tank if Prop. 112 Succeeds at the Polls?

If voters ban oil and gas drilling by voting in Prop 112, Colorado’s rosy economic metrics could turn sour in 2019-2021 and beyond In what may turn out to be a bit of economic irony, Colorado Secretary of State Wayne Williams released a report Monday that “Colorado’s economy is among the best in the country.” Personal income, wages, GDP, job[Read More…]

Looking at Both Sides of the Colorado Oil & Gas Setback Question

Looking at Both Sides of the Colorado Oil & Gas Setback Question

Photo taken in Boulder County, one mile west of Weld County. Oil & Gas 360 A Colorado TV station last week offered an attempt at a balanced story about Proposition 112—Oil & Gas setbacks. The ballot question comes up on the mail-in ballots going to voters beginning Oct. 15. “Here’s how you’ll hear Proposition 112 described by its supporters,” Colorado[Read More…]

October 2, 2018 - 5:58 pm 360 Articles, Closing Bell Story, E&P, Fracing, Law, Popular 4, Regulatory
Will 100,000 Phone Calls Be Able to Stop Oil and Gas Companies from Drilling in Colorado?

Will 100,000 Phone Calls Be Able to Stop Oil and Gas Companies from Drilling in Colorado?

It’s shaping up to be the power of advertising vs. the power of personal phone calls. At least that’s what the two opposing forces are doing to promote their polar opposite views of Proposition 112 as voters begin to think about what will be on their mail-in ballots which will begin to arrive in mid-October. Election day is Nov. 6.[Read More…]

September 26, 2018 - 5:47 pm 360 Articles, Closing Bell Story, E&P, Fracing, Law, Politics, Regulatory
Oil and Gas Industry: Colorado Supreme Court Sets Date to Hear Oral Arguments in COGCC v. Martinez

Oil and Gas Industry: Colorado Supreme Court Sets Date to Hear Oral Arguments in COGCC v. Martinez

Colorado oil and gas regulation: is the State’s task to balance oil & gas development with public health, safety and welfare? Colorado’s high court will soon hear oral arguments in a case whose outcome could reshuffle the criteria the COGCC must use in granting permits to drill oil and gas wells Fall of 2018 will be remembered as the season[Read More…]

September 12, 2018 - 1:14 pm 360 Articles, Closing Bell Story, E&P, Fracing, Law, Politics, Regulatory
Colorado Could Potentially See the End of Oil & Gas Drilling if Voters Pass Initiative 97 on Nov. 6

Colorado Could Potentially See the End of Oil & Gas Drilling if Voters Pass Initiative 97 on Nov. 6

It’s a scenario that could possibly send oil and gas reserve values toward $0 and start an exodus of energy companies, capital investment and high paying jobs from the state From “theoretical to real” in a day The threat to the oil and gas industry posed by initiative 97 [EDITOR’S NOTE: INITIATIVE 97 WAS RENAMED PROPOSITION 112 ON THE COLORADO BALLOT] went[Read More…]

August 30, 2018 - 6:59 pm 360 Articles, Closing Bell Story, Crude Oil News, E&P, Fracing, Law, Politics
Window Closing on Colorado Initiative 97: Voter Signature Collection Period Ends this Weekend

Window Closing on Colorado Initiative 97: Voter Signature Collection Period Ends this Weekend

Initiative 97 imposes a mandatory statewide minimum 2,500-foot drilling setback, also cedes power to local governments to increase setbacks This is the final week for environmental activist groups 350.org and Colorado Rising to gather signatures for Colorado ballot initiative 97. It’s the initiative that asks voters to change existing state law to impose a 2,500-foot setback on new oil and[Read More…]

August 1, 2018 - 1:42 pm 360 Articles, Closing Bell Story, Fracing, Politics, Regulatory
Colorado 2,500-Foot Setback Initiative 97 Enters the Stretch, Proponents Accelerate Grassroots Campaign

Colorado 2,500-Foot Setback Initiative 97 Enters the Stretch, Proponents Accelerate Grassroots Campaign

Extremely well-organized ‘keep it in the ground’ groups tell like-minded voters exactly what to do to get initiative 97 on the ballot, what to say at the COGCC hearing  “We’re calling on the COGCC to prioritize public health and safety over profit – and to get on the right side of history” – 350 Colorado campaign promoting initiative 97 Campaign[Read More…]

July 17, 2018 - 2:57 pm 360 Articles, Closing Bell Story, Fracing, Politics, Regulatory
Junex and Cuda Join for Wyoming Vertical Development

Junex and Cuda Join for Wyoming Vertical Development

Junex (CVE: JNX) and Cuda Energy Inc. have announced a strategic business partnership, which will operate under the name Cuda Oil and Gas Inc. The newly formed Cuda Oil and Gas has also announced it has entered into an agreement to acquire 25,000 gross acres of high growth light oil asset in the Powder River Basin in Wyoming from an[Read More…]

June 11, 2018 - 4:29 pm 360 Articles, Closing Bell Story, Fracing
In-Basin Sand Mines are Sprouting Fast in Texas and Oklahoma

In-Basin Sand Mines are Sprouting Fast in Texas and Oklahoma

Locally sourced frac sand gets the job done at a discount Last week, Alpine Silica, a private supplier of frac sand, announced that it will open two new frac sand projects—one in Van Horn, Texas and the other in Fay, Oklahoma, further adding to its existing sand portfolio. Alpine estimates that the Oklahoma plant and the Van Horn facility will[Read More…]

Oil prices turned firmly lower during midday trading on Tuesday. Crude futures were little changed earlier in the session, depressed by a report of record Saudi production but supported by expectations that oil exporters would agree to cut output at an OPEC meeting next week. Oil & Gas 360

United Nations Seems a Bit Fearful that Shale Gas Will Be What Achieves Global Prosperity

New UN report warns members to approach hydraulic fracturing with caution; says don’t invest in shale at the expense of renewables The United Nations Conference on Trade and Development has published a new report looking at the global shale gas phenomenon. The report is called “Commodities at a Glance, Special Issue on Shale Gas.” In an accompanying press release, the[Read More…]

June 1, 2018 - 3:59 pm 360 Articles, Closing Bell Story, Fracing, LNG
How the U.S. Will Handle the OPEC-Russia Spigot

How the U.S. Will Handle the OPEC-Russia Spigot

Except for a small drop in the amount of oil produced in 2016, with return to the upswing in 2017, American production has been on a steady increase ever since 2008. Even during the 2014-2016 price crash, U.S. E&Ps hunkered down, strengthened their balance sheets, made technological leaps and kept on producing oil and gas—without depending on the reappearance of[Read More…]

Inventories Back at Five-Year Averages—for Now

Inventories Back at Five-Year Averages—for Now

The production cuts may have erased the surplus, but for how long? Stored petroleum around the world fell through 2017 and the first quarter of 2018, ending a period of oversupply in the global market that began before OPEC began production cuts in November 2016, according to data from the EIA. The production cuts took effect in January 2017, reducing[Read More…]

EcoStim Ups Capacity to ‘Super Fleet’ in the STACK

EcoStim Ups Capacity to ‘Super Fleet’ in the STACK

Eco-Stim Energy Solutions, Inc. (ticker: ESES) reported today that it has agreed to provide its primary customer in the STACK with additional dedicated horsepower and equipment, including natural gas-powered pumping units. The company refers to this collaborative plan as a “super fleet.” According to the company’s most recent investor presentation, Eco-Stim has a total capacity of ~168,000 HHP, including 53[Read More…]

Warburg Pincus Invests $138 Million in Canadian E&P

Warburg Pincus Invests $138 Million in Canadian E&P

Calgary-based E&P Artis Exploration Ltd. closed a CDN$180 million (USD$138 million) growth equity investment from Warburg Pincus. Founded in 2015, Artis is focused on the Duvernay East Shale Basin of Western Canada, where the company holds a contiguous acreage position of over 260,000 net acres. Artis is led by Darryl Metcalfe, who was previously president and CEO at Artek Exploration.[Read More…]

Vermilion Energy Closes $1.4 Billion Acquisition

Vermilion Energy Closes $1.4 Billion Acquisition

Vermilion Energy Inc. (ticker: VET) closed the acquisition of Spartan Energy Corp. for a total consideration of $1.40 billion, comprised of $1.23 billion in Vermilion shares plus the assumption of approximately $175 million in debt. Vermilion acquired all of the issued and outstanding common shares of Spartan on the basis of 0.1476 of a Vermilion share for each Spartan common[Read More…]

The Permian’s Precious Water: E&Ps Weigh In

The Permian’s Precious Water: E&Ps Weigh In

In this Midland/Delaware Basin infrastructure roundup, the following E&Ps are covered: Halcón Resources Company (ticker: HK) Approach Resources Company (ticker: AREX) Apache Company (ticker: APA) Callon Petroleum Company (ticker: CPE)   Waterworks   Halcón plans water saving costs Halcon reported a LOE and workover expense at $6.3 million for the quarter, or $6.36 per Boe. This amount included approximately $700,000[Read More…]

May 25, 2018 - 3:52 pm 360 Articles, Closing Bell Story, E&P, Fracing, Midstream
Callon Petroleum Expands Permian Footprint with $570 Million Delaware Purchase

Callon Petroleum Expands Permian Footprint with $570 Million Delaware Purchase

Consolidation continues in the Permian, with Callon Petroleum (ticker: CPE) purchasing $570 million in assets Thursday. Callon intends to acquire 28,657 net acres in the Delaware, primarily in Ward and Loving Counties, from Cimarex Energy (ticker: XEC). This acreage is partially contiguous with Callon’s assets in the Delaware, and is all at least nearby. Over 90% of the new acreage[Read More…]

A Look at Activity in the Permian from Three Players’ Perspectives

A Look at Activity in the Permian from Three Players’ Perspectives

Oil & Gas 360® takes a look at three companies with operations in the Permian: Halcón Resources Company (ticker: HK) Approach Resources Company (ticker: AREX) Apache Corporation (ticker: APA) Halcón Resources Halcon Resources Overview, May 2018 Production for the first quarter of 2018 averaged 10,967 BOEPD for Halcón, comprised of 70% oil. This production rate represents a 75% growth rate[Read More…]

May 17, 2018 - 4:51 pm 360 Articles, Closing Bell Story, E&P, Fracing
Steve Chazen’s Magnolia Assets: Q1 2018 Results

Steve Chazen’s Magnolia Assets: Q1 2018 Results

TPG Pace Energy Holdings Corp. (ticker: TPGE), an energy-focused special purpose acquisition entity led by former Occidental Petroleum Corporation CEO Steve Chazen, disclosed certain financial and operating results for the first quarter of 2018 for the Karnes County and Giddings Field assets (the Magnolia assets) that TPGE is under definitive agreements to acquire from affiliates of EnerVest, Ltd. Magnolia Assets,[Read More…]

Sterling Resources Taps Peru

Sterling Resources Taps Peru

Sterling Resources speeds up Bretana field development Peru-focused E&P Sterling Resources Ltd. (ticker: SLG) has advanced the 2018 capital program at the Bretana field in Northeast Peru. Last December, the company acquired 100% working interest in the field. At the time, the company estimated that the project would come online in 10 to 12 months for ~$24.6 million. SLG Bretana[Read More…]

Rosehill Resources Produced More Than 18,000 BOEPD in April 2018

Rosehill Resources Produced More Than 18,000 BOEPD in April 2018

Rosehill cuts Loving County spud-to-TD time in half Rosehill Resources Inc. (ticker: ROSE) reported a net loss attributable to Rosehill of $1.3 million, or $(0.22) per share. Rosehill said this loss included an $18.2 million non-cash, pre-tax loss on commodity derivative instruments. For the quarter, Rosehill incurred capital costs of $96 million. Operations Rosehill Completion Techniques, May 2018 Rosehill grew[Read More…]

May 15, 2018 - 5:13 pm 360 Articles, Closing Bell Story, E&P, Earnings, Finance, Fracing
Goodrich Petroleum: Focused on Haynesville through 2019

Goodrich Petroleum: Focused on Haynesville through 2019

All CapEx in 2018 and 2019 focused on Haynesville Goodrich Petroleum Corporation (ticker: GDP) had a net loss of $5.3 million in the first quarter of 2018, or $(0.47) per share. Capital expenditures totaled $21 million in the quarter, of which $20.6 million was spent on D&C and $0.4 million on other expenditures, Goodrich said. All of Q1’s total capital[Read More…]

May 15, 2018 - 5:06 pm 360 Articles, Closing Bell Story, E&P, Earnings, Finance, Fracing