Exploration and Production (E&P)

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 …

Gulfport Energy Scores Big Gas Wells in the SCOOP

Gulfport Energy Scores Big Gas Wells in the SCOOP

Expects to fund all $780 million CapEx within cash flow in 2018

Gulfport Energy Corporation (ticker: GPOR) provided an update on two notable SCOOP well results.

During its initial 30 days of production, the Lilly 3-15X10H cumulatively produced 395.5 MMcf …

Premier Reaffirms South Australia’s Partial Frac Ban

Premier Reaffirms South Australia’s Partial Frac Ban

From News.Au

South Australian Premier Steven Marshall has reaffirmed his state’s partial ban on fracking to a gathering of oil and gas industry chiefs.

The partial ban on fracking in South Australia will remain, with Premier Steven Marshall telling energy …

We Can Ramp Production Back Up to Pre-Cut Levels in 60 Days: Rosneft

We Can Ramp Production Back Up to Pre-Cut Levels in 60 Days: Rosneft

Russian giant Rosneft Oil Company (ticker: ROSN) reported a Q1 2018 net income of USD$1.5 billion (RUB$81 billion) with a spending budget of $3.9 billion (RUB$223 billion).

More multistage fracs, horizontal wells

The company produced 5.71 MMBOE in Q1 2018. …

Lonestar Resources Hits 10 MBOEPD in April, Increases Full Year Guidance

Lonestar Resources Hits 10 MBOEPD in April, Increases Full Year Guidance

Texas-based E&P Lonestar Resources US Inc. (ticker: LONE) reported a net loss attributable to its common stockholders of $18.5 million, or ($0.75) per share in Q1 2018. The company produced 7,777 BOEPD on average in the quarter.

CEO Frank D. …

Going Gangbusters in the STACK: Alta Mesa Resources Running 8 Rigs, Expects 170+ Wells in 2018

Going Gangbusters in the STACK: Alta Mesa Resources Running 8 Rigs, Expects 170+ Wells in 2018

Alta Mesa Resources, Inc. (ticker: AMR) produced 24,000 BOEPD in Q1 2018 and exited the quarter with average net production of 25,800 BOEPD in March. Overall, total production for the first quarter of 2018 was 2,162 MBOE. According to Alta …

Powder River Basin: 10,000-Permit Drilling Battle

Powder River Basin: 10,000-Permit Drilling Battle

From the Casper Star Tribune

In the coal-bed methane days, then-engineer Mark Watson would arrive at the Wyoming Oil and Gas Conservation Commission to find boxes stacked with drilling applications and a box of thank-you donuts from the operators.

But …

Northern Delaware Basin Operations 

From Concho.com

The 130-Year-Old Bankruptcy That Created a $5 Billion Oil Giant

From Bloomberg

  • Texas Pacific Land Trust has surged almost 2,200% since 2010
  • Mineral rights offer revenues linked to Permian oil production

The hottest oil stock from the U.S. shale boom has never pumped a single barrel of crude.

Texas Pacific

Jagged Peak Looks to 3D Seismic to Improve Drilling

Jagged Peak Looks to 3D Seismic to Improve Drilling

Completions operations becoming increasingly efficient

Jagged Peak (ticker: JAG) announced first quarter results today, showing a net loss of $39.4 million, or $(0.18) per common share.

Jagged Peak has come a long way since going public in early 2017, with …

Private Equity: Delivering Capital Upstream

Private Equity: Delivering Capital Upstream

In the context of the total business sector, the global private equity industry raised a record $453 billion from investors in 2017, leaving it with more than $1 trillion to pour into companies and new business ventures, Reuters reported at …

EnerCom Announces Additional Presenting Companies for The Oil & Gas Conference®

EnerCom Announces Additional Presenting Companies for The Oil & Gas Conference®

EnerCom anticipates 2,000+ institutional investors, 80+ presenters from upstream and oilfield service/technology sectors, energy economists and oil and gas finance professionals

EnerCom has updated presenting oil and gas companies for the 23rd annual edition of its popular The Oil …

Zinke: No New Florida Offshore Development

Zinke: No New Florida Offshore Development

From 88.5 WMNF

Interior Secretary Ryan Zinke said again Thursday that there will be no new oil and gas platforms off the state of Florida; his position on drilling off the coasts of Florida has been confusing this year.

He …

Courtesy of Extraction Oil & Gas, Inc.

Extraction Oil & Gas Targets Positive All-In Free Cashflow in 2H 2018

Extraction Oil & Gas, Inc. (ticker: XOG) reported a net loss of $52 million for Q1 2018, or $(0.32) per share. First quarter average net sales volumes were 68,874 BOEPD, including 36,052 BPD of crude oil, an increase of 106% …

WildHorse Resource Produced 52.4 MBOEPD in Q1

WildHorse Resource Produced 52.4 MBOEPD in Q1

WildHorse Resource Development Corporation (ticker: WRD) reported a net loss available to common stockholders of $123.2 million in Q1 2018, or $(1.24) per share. Net production was 52.4 MBOEPD for the quarter, consisting of 60% oil, 31% natural gas and …

Courtesy of HighPoint Resources

HighPoint Resources Drops Completion Time to 4.2 Days per Well; Wants to Bring Second Rig to Hereford

HighPoint Resources Corporation (ticker: HPR) reported a net income loss of $24.9 million, or $(0.20) per share for the first quarter of 2018. HighPoint produced 1.91 MMBoe in the quarter, which was at the midpoint of its guidance range of …

CEOs Talk About Solving DJ Takeaway Problems that Plague Northern Colorado’s Producers

CEOs Talk About Solving DJ Takeaway Problems that Plague Northern Colorado’s Producers

Companies in the Wattenberg can’t accurately evaluate the performance of wells that are continuously choked back or temporarily shut in due to lack of pipeline capacity

Producers forced to constrain production 

During their recent Q1 earnings calls, Bart Brookman, president …

OXY’s New Mexico Permian Wells Coming in with IP-30s of 3,100 BOEPD

OXY’s New Mexico Permian Wells Coming in with IP-30s of 3,100 BOEPD

Occidental Petroleum Corporation (ticker: OXY) reported a core income of $708 million for the first quarter of 2018, or $0.92 per diluted share. Total average daily production volumes were 609,000 BOE for the first quarter of 2018, compared to 621,000 …

Cimarex Produced 206 MBOEPD in Q1, with 55% from the Permian

Cimarex Produced 206 MBOEPD in Q1, with 55% from the Permian

Cimarex running 13 rigs: 10 in the Permian, 3 Mid-Con

Cimarex Energy Co. (ticker: XEC) reported first quarter 2018 net income of $186.3 million, or $1.96 per share. Total company production for the quarter came in at the high end …

Bonanza Creek Energy Bumps XRL Type Curves by 35%

Bonanza Creek Energy Bumps XRL Type Curves by 35%

Bonanza Creek Energy, Inc. (ticker: BCEI) posted a net income of $13.9 million, or $0.68 per share for the first quarter of 2018. Last year, the company had a net loss of $94.3 million, or $(1.91) per diluted share – …

Elk Petroleum Continues to Grow Reserves and Production for Several Turns Below Average Costs

Elk Petroleum Continues to Grow Reserves and Production for Several Turns Below Average Costs

Elk Petroleum announces capital raise to fund low-cost growth

Elk Petroleum (ASX: ELK) announced today that the company successfully completed a A$13.5 million (US$10.2 million) private capital raise which will help the company continue to reinvest in its low-cost, low-decline …

Courtesy of RSP Permian

Futures Curve with Severe Backwardation is Laughable: Papa

CDEV likes oil’s prospects and New Mexico well results

Centennial Resource Development, Inc. (ticker: CDEV) reported a net income of $66.1 million, or $0.25 per share for Q1 2018. The company’s average daily net production was 54,069 BOEPD for the …

Sanchez Energy Produced 80.5 MBOEPD in Q1

Sanchez Energy Produced 80.5 MBOEPD in Q1

Sanchez Energy Corporation (ticker: SN) reported a net loss of $4.8 million for the first quarter 2018, or $(0.30) per share attributable to common stockholders. The quarter included $24.4 million in non-cash mark-to-market losses related to hedging activities, Sanchez said.…

Stalled Oil Job Recovery Leaves Many Knowledge-Based Oil Pros Jobless

Stalled Oil Job Recovery Leaves Many Knowledge-Based Oil Pros Jobless

Labor Department says only 6,000 jobs are back after 60,000 layoffs hit industry starting in 2014

From the Associated Press / Texarkana Gazette

HOUSTON—Skilled workers in Texas are still looking for jobs as U.S. employment in the oil and gas …

Carrizo Oil & Gas Expects Production Near 60 MBOEPD in 2018

Carrizo Oil & Gas Expects Production Near 60 MBOEPD in 2018

Eagle Ford, Delaware drilling and completions are moving the needle

Carrizo Oil & Gas, Inc. (ticker: CRZO) had a net income of $14.7 million, or $0.18 per share in Q1 2018. The company went above the high-end of its guidance …

Eclipse Resources Finds Its Marcellus Wells’ Decline Curve “Much Gentler” than Expected

Eclipse Resources Finds Its Marcellus Wells’ Decline Curve “Much Gentler” than Expected

Eclipse Resources Corporation (ticker: ECR) reported a net loss for Q1 2018 of $2.6 million, or $(0.01) per share. Average net daily production was 315.2 MMcfe/d, consisting of 72% natural gas and 28% liquids.

The company had realized an average …

Multi-Basin Contango Pushes Permian Action – Looking for Eight More Southern Del Wells

Multi-Basin Contango Pushes Permian Action – Looking for Eight More Southern Del Wells

Contango Oil & Gas Company (ticker: MCF) posted a net income of $0.9 million, or $0.04 per share for Q1 2018. Production for the first quarter of 2018 was approximately 4.5 Bcfe, or 50.0 MMcfe/d.

President and CEO Allan D. …

Newfield and Continental Tout SCOOP/STACK, Bakken

Newfield and Continental Tout SCOOP/STACK, Bakken

Newfield’s SCOOP/STACK operations pinned to future growth; Williston Basin infill projects look to deliver $100 million of free cash flow in 2018

Newfield Exploration Company (ticker: NFX) had record net production during Q1 2018, with SCOOP/STACK net production averaging 117,500 …

While Wall Street Turns its Back, Private Companies Invest in the Gulf of Mexico

While Wall Street Turns its Back, Private Companies Invest in the Gulf of Mexico

From the Houston Chronicle

Matt McCarroll’s oil company recently emerged from bankruptcy with one of the largest positions in the Gulf of Mexico and plans to invest $750 million dispatching rigs over the next two years in its first drilling …

Source: Transcanada

Keystone Pipeline Ruling Likely to Help Reduce Heavy Oil Discount

From The Canadian Press 
CALGARY – A regulator’s lifting of pressure restrictions on the Keystone oil pipeline in the United States earlier this week is expected to help reduce discounts being paid for Western Canadian heavy crude.

Matthew John, spokesman …

RSP Permian Earns $90 Million, Production Up 39%

RSP Permian Earns $90 Million, Production Up 39%

RSP Permian Inc. (ticker: RSPP) posted a Q1 2018 net income of $89.6 million, or $0.57 per diluted common share. Production for the quarter increased 39% to 62.8 MBOEPD (72% oil, 87% liquids) compared to Q1 2017.

Drilling

The company …