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360 Articles

WildHorse Bolts on 20,000 Acres

WildHorse Bolts on 20,000 Acres

Eagle Ford footprint approaches 430,000 acres WildHorse Resource Development Corporation (ticker: WRD), an independent oil and natural gas company based in Houston TX, announced yesterday it closed on two separate purchase and sale agreements. The combined total acreage is 20,305 net acres in the Eagle Ford and Austin Chalk plays, with other intervals. Production is 39 Boe/d across Burleson, Brazos,[Read More…]

September 21, 2018 - 5:50 pm 360 Articles, A&D Transactions, Closing Bell Story, E&P
Rigs Move to Texas, Permian

Rigs Move to Texas, Permian

Two rigs shut down, leaving 1,053 Drilling activity fell slightly this week but remained near equilibrium, according to the latest edition of Baker Hughes’ Weekly Rig Count. A net two rigs shut down in the week, meaning there are now 1,053 rigs actively drilling in the country. Both of these rigs were land-based, inland waters and offshore activity was unchanged.[Read More…]

A First for Mexico

A First for Mexico

Pemex, Talos, Premier Oil, and Sierra Oil and Gas Sign PUA for Zama Pemex, with the Block 7 Consortium – Talos Energy (ticker: TALO), Premier Oil (ticker: PMO), and Sierra Oil and Gas – have just signed a Pre-Unitization Agreement (PUA) for two offshore areas in Mexico’s Southeast Basin: the Amoca-Yaxche-03 allocation and the Block 7 contiguous production sharing contract.[Read More…]

September 21, 2018 - 4:35 pm 360 Articles, Closing Bell Story, E&P, Mexico, Offshore
Weekly Gas Storage: Build Accelerates

Weekly Gas Storage: Build Accelerates

The EIA released its weekly Natural Gas Storage Report today, outlining how national natural gas stocks have changed in the last week. In total, the EIA reports natural gas stocks rose by 86 Bcf last week, increasing to 2,722 Bcf from 2,636 Bcf. This is 19.8% below the 3,394 Bcf that was in storage at this point last year, and[Read More…]

Shale Economy Big Plus for Ohio: Drew $64 Billion in Investment in Seven Years, Led to 100,000 Paychecks

Shale Economy Big Plus for Ohio: Drew $64 Billion in Investment in Seven Years, Led to 100,000 Paychecks

Energy growth triggers company expansions, community improvements “When it comes to energy, no region, not even the Gulf, can compete with Ohio,” said Dana Saucier Jr., senior managing director of energy and chemicals at JobsOhio. Ohio has emerged as a national leader in energy, largely due to the state’s shale industry, which has served as the biggest driver of energy growth[Read More…]

September 19, 2018 - 5:51 pm 360 Articles, Closing Bell Story, E&P, Energy News
Weekly Oil Storage: Minor Draw

Weekly Oil Storage: Minor Draw

The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks fell by 2,057 MBBL last week to 394,137 MBBL from 396,194 MBBL. This is 17% below the 472,832 MBBL that was in storage at this point last year, and is 3% below the five-year[Read More…]

Niobrara Drilling Accelerates Ahead of Setback Vote

Niobrara Drilling Accelerates Ahead of Setback Vote

EERC falls to 2,755 EnerCom has released its latest Effective Rig Count, examining the state of drilling activity correlated to production in major shale basins. The Effective Rig Count fell to 2,755 in August, continuing the decline seen last month. The drop in total EERC was due to declining efficiencies, as reported rig counts rose slightly in August. These two[Read More…]

Tellurian’s Driftwood LNG Receives Draft Environmental Impact Statement

Tellurian’s Driftwood LNG Receives Draft Environmental Impact Statement

Tellurian Inc. (ticker: TELL) received its draft environmental impact statement (EIS) from the United States Federal Energy Regulatory Commission for the Driftwood LNG terminal facility and the associated Driftwood pipeline. The draft EIS has been prepared in compliance with the requirements of the National Environmental Policy Act, the Council on Environmental Quality regulations for implementing NEPA, and FERC regulations. The[Read More…]

September 17, 2018 - 5:08 pm 360 Articles, Closing Bell Story, E&P, Energy News
U.S. Rigs Do the Texas Shuffle, Up Slightly

U.S. Rigs Do the Texas Shuffle, Up Slightly

Activity continues to hover near 1,050; South Dakota adds first rig since before the downturn Drilling activity rose in the U.S. once again this week, according to the latest edition of Baker Hughes Weekly Rig Count. A net seven rigs began drilling in the week, spread between land, inland waters and offshore operations. Four land-based rigs came online, in addition[Read More…]

Blackbird Energy Announces Reserves, First XRL Well Results

Blackbird Energy Announces Reserves, First XRL Well Results

PDP Reserves up 126% Canadian junior Blackbird Energy (ticker: BBI) announced reserves today and provided an update on the results of its recent drilling efforts. Blackbird reports PDP reserves at 3.18 MMBOE, more than double last year’s reserve level. These new reserves are all booked through Blackbird’s drilling program, as the company added 4.8 net wells to its productive well[Read More…]

NGL Energy Partners Adds Water Sources for Oil & Gas Operators in the Permian

NGL Energy Partners Adds Water Sources for Oil & Gas Operators in the Permian

Price for New Mexican water: $93 million NGL Energy Partners LP (ticker: NGL) has purchased another Permian Basin ranch, adding 9.6 million barrels of annual fresh water rights to its Permian Basin water portfolio. NGL said it bought the 36,000-acre Beckham Ranch, which sits atop the Carlsbad, Capitan, and Jal Water Basins located in southeastern Lea County. In July NGL bought the McCloy Ranch, located in Eddy and Lea Counties, New[Read More…]

September 13, 2018 - 1:46 pm 360 Articles, Closing Bell Story, Midstream, Oilfield Services
Weekly Gas Storage: Steady Build Continues

Weekly Gas Storage: Steady Build Continues

The EIA released its weekly Natural Gas Storage Report today, outlining how national natural gas stocks have changed in the last week. In total, the EIA reports natural gas stocks rose by 69 Bcf last week, increasing to 2,568 Bcf from 2,505 Bcf. This is 20.1% below the 3,298 Bcf that was in storage at this point last year, and[Read More…]

USA is Again the World’s Largest Crude Producer: EIA

USA is Again the World’s Largest Crude Producer: EIA

U.S. surpasses Russia as output nears 11 MBOPD The U.S. has, at long last, retaken the crown as the world’s largest crude oil producer, surpassing Saudi Arabia and Russia. The EIA reports that preliminary numbers indicate U.S. crude output in August surpassed that of Russia, with the U.S. producing nearly 11 MMBOPD. This is the first time American oil production[Read More…]

September 12, 2018 - 4:50 pm 360 Articles, Closing Bell Story, Crude Oil News
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
Weekly Oil Storage: Further Draw

Weekly Oil Storage: Further Draw

The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks fell by 5,296 MBBL last week to 396,194 MBBL from 401,490 MBBL. This is 15% below the 468,241 MBBL that was in storage at this point last year, and is 3% below the five-year[Read More…]

Diamondback Energy, Carlyle Group to Rendezvous in the Permian

Diamondback Energy, Carlyle Group to Rendezvous in the Permian

The Carlyle Group (ticker: CG) and Diamondback Energy (ticker: FANG) are joining forces in the Permian. The two are forming a new JV to develop Permian assets held by Diamondback. The Carlyle Energy Mezzanine Opportunities Fund II will join with Diamondback to develop assets in the San Pedro area of Pecos County, where Diamondback owns significant acreage. The majority of[Read More…]

September 11, 2018 - 5:11 pm 360 Articles, Closing Bell Story, Crude Oil News, Natural Gas News
Robust Ethane Supplies from U.S. Shale Boom Drive Chemical Plant Investment to $200 Billion

Robust Ethane Supplies from U.S. Shale Boom Drive Chemical Plant Investment to $200 Billion

U.S. chemical, plastics plant investment of $202 billion is direct result of shale gas growth: ACC The American Chemistry Council (ACC) released data today and the trade group has determined that U.S. chemical and plastics industry investment linked to plentiful and affordable domestic supplies of natural gas and natural gas liquids (NGLs) from shale has surpassed $200 billion. Summary: Since 2010,[Read More…]

September 11, 2018 - 3:41 pm 360 Articles, Closing Bell Story, Downstream
Energy XXI Gulf Coast, Cox Oil Set Closing for Merger on Oct. 10

Energy XXI Gulf Coast, Cox Oil Set Closing for Merger on Oct. 10

Energy XXI Gulf Coast, Inc. (ticker: EGC) said that it has entered into an amendment to the Agreement and Plan of Merger to provide for the closing date of the merger with Cox Oil affiliates to occur on October 10, 2018.  Cox Oil is an independent, privately-held entity that owns and operates assets in the Gulf of Mexico. The amendment also provides[Read More…]

September 10, 2018 - 6:36 pm 360 Articles, Closing Bell Story, E&P, Mergers & Acquisitions
Colorado’s 2,500-Foot Setback Zipped by a Deadline on Friday Sept. 7

Colorado’s 2,500-Foot Setback Zipped by a Deadline on Friday Sept. 7

Setback measure named Proposition 112 on the Nov. ballot Friday Sept. 7 was one of the upcoming deadlines on the life path of initiative #97—the 2,500-foot mandatory statewide oil and gas setback. That was the last day for designated representatives of an initiative petition to withdraw the petition from consideration by filing a withdrawal letter with Secretary of State. This[Read More…]

September 10, 2018 - 5:33 pm 360 Articles, Closing Bell Story, Oil & Gas Jobs, Politics
Courtesy of RSP Permian

New Dallas Fed Data: Extraction Employment Growth Hits the Brakes, Drilling Activity Flattens, Permian DUC Count Rises

From the Federal Reserve Bank of Dallas The Federal Reserve Bank of Dallas has published its latest Energy Indicators report with pipeline constraints leading the news. Report follows. Pipeline limitations are driving down local prices for oil and natural gas, causing drilling activity to flatten and the inventory of uncompleted wells to rise in the Permian Basin. Texas mining employment[Read More…]

September 10, 2018 - 1:46 pm 360 Articles, Closing Bell Story, E&P, Jobs
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.

U.S. Rig Count Chalks Up Zero Weekly Change

Rig activity was exactly flat this week compared to last, according to the Baker Hughes weekly rig count. The U.S. stayed pat at 1,048 rigs—but that’s up 104 from the same week in 2017. Canada, however, is down 24 rigs, week over week.   Area Last Count Count Change from Prior Count Date of Prior Count Change from Last Year[Read More…]

September 7, 2018 - 4:35 pm 360 Articles, Closing Bell Story, E&P
A Permian Basin FID: $2 Billion for 2 Billion Cubic Feet per Day

A Permian Basin FID: $2 Billion for 2 Billion Cubic Feet per Day

Kinder Morgan and EagleClaw announce FID for Permian Highway pipeline project Kinder Morgan (ticker: KMI) and privately held EagleClaw Midstream have announced a Final Investment Decision on the Permian Highway pipeline (PHP) today, as oil and gas producers and midstream companies continue to react to the massive production growth coming out of the Permian basin. The PHP will provide relief[Read More…]

September 6, 2018 - 5:47 pm 360 Articles, Closing Bell Story, E&P, Midstream, Popular 1
Another Texas LNG Export Project Inches Closer

Another Texas LNG Export Project Inches Closer

Texas LNG said FERC has issued the Notice of Schedule for Environmental Review (SER), setting the anticipated dates for issuance of its Final Environmental Impact Statement (FEIS) and Federal Authorization Decision Deadline. Texas LNG is a Liquefied Natural Gas (LNG) facility to be constructed at the Port of Brownsville in South Texas, close to the U.S. – Mexico border and[Read More…]

September 6, 2018 - 3:47 pm 360 Articles, Closing Bell Story, LNG, Regulatory
Will Mexico’s Energy Sector Rise or Fall?

Will Mexico’s Energy Sector Rise or Fall?

Will Mexico’s new president divert Mexico’s energy sector away from successful reform? Reuters reported last week that Mexico’s President-elect Andres Manuel Lopez Obrador (nicknamed ‘AMLO’) told reporters that Mexican oil auctions are suspended pending a review of the contracts awarded to date. “They are suspended right now until the contracts are reviewed,” Lopez Obrador said, according to Reuters. Lopez Obrador[Read More…]

September 6, 2018 - 2:24 pm 360 Articles, Closing Bell Story, Crude Oil News, E&P, Mexico, Offshore
Weekly Gas Storage: Steady Build

Weekly Gas Storage: Steady Build

The EIA released its weekly Natural Gas Storage Report today, outlining how national natural gas stocks have changed in the last week. In total, the EIA reports natural gas stocks rose by 63 Bcf last week, increasing to 2,568 Bcf from 2,505 Bcf. This is 20.0% below the 3,211 Bcf that was in storage at this point last year, and[Read More…]

Weekly Oil Storage: Continued Draw

Weekly Oil Storage: Continued Draw

The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks fell by 4,302 MBBL last week to 401,490 MBBL from 405,792 MBBL. This is 13% below the 462,353 MBBL that was in storage at this point last year, and is 1% below the five-year[Read More…]

Kinder Morgan Plans Debt Reduction Using Trans Mountain Proceeds

Kinder Morgan Plans Debt Reduction Using Trans Mountain Proceeds

$2 billion will drop debt load to long-term goal Kinder Morgan Canada (ticker: KML) has successfully closed the sale of the Trans Mountain Pipeline and the Trans Mountain Expansion Project to the Canadian government, and today the company announced its plans on how it will use the proceeds. KML will receive $3.5 billion in after-tax funds from the sale, which[Read More…]

September 5, 2018 - 5:51 pm 360 Articles, Closing Bell Story, Crude Oil News, MLP News
Talos Energy Acquires GOM Producer Whistler Energy II

Talos Energy Acquires GOM Producer Whistler Energy II

Talos Energy (ticker: TALO) has entered into and completed a transaction to acquire Whistler Energy II, LLC. Year to date gross production from Whistler’s assets is approximately 1,900 BOEPD, or net production after royalties of approximately 1,500 BOEPD, of which 82% is oil. The purchase price was $52 million and, as part of this acquisition, Talos negotiated the release of[Read More…]

September 5, 2018 - 5:34 pm 360 Articles, Closing Bell Story, E&P, Mergers & Acquisitions, Offshore
State of Colorado has Initiated a Rulemaking for Drilling Setbacks Near Schools

State of Colorado has Initiated a Rulemaking for Drilling Setbacks Near Schools

State’s regular oil and gas rulemaking process at work On December 6, 2017, the League of Oil and Gas Impacted Coloradans (LOGIC), submitted a Colorado Oil and Gas Conservation Commission (COGCC) petition to conduct a rulemaking to require new oil and gas wells and production facilities be sited no closer than 1,000 feet from the perimeter of a school or[Read More…]

September 5, 2018 - 4:36 pm 360 Articles, Closing Bell Story, Regulatory
Oil & Gas Company Performance DNA: 5 Levers that Top Management Can Pull

Oil & Gas Company Performance DNA: 5 Levers that Top Management Can Pull

EnerCom Analytics recently analyzed oil and gas companies through the lens of the 5 Factor Model (5FM), with an eye to providing a snapshot of the state of company valuations. The 5 Factor Model examines a company’s three-year finding & development (F&D) costs per unit, its capital efficiency, operating and general & administrative expense per unit, three-year production replacement, and[Read More…]

September 5, 2018 - 1:47 pm 360 Articles, Closing Bell Story, Crude Oil News, Natural Gas News