Exploration and Production (E&P)

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

100% year-over-year growth in Midland Basin production; realized price is SM’s highest level in 14 quarters: $37.76/BOE average

Midland Basin operations up to nine rigs and five completions crews; SM expects to double completions in Q2

The Midland Basin produced …

GeoPark: Further Extension of Tigana Oil Field in Colombia

GeoPark: Further Extension of Tigana Oil Field in Colombia

GeoPark Announces Further Extension of Tigana Oil Field in Colombia

Painted Pony: First Montney Well Drilled on the Beg Block

Painted Pony: First Montney Well Drilled on the Beg Block

Painted Pony announces discovery well test results on Beg block in northeast British Columbia

Private Equity Firms Pouring Cash into Houston Energy Sector

Private Equity Firms Pouring Cash into Houston Energy Sector

From Chron

Private equity firms including Ares Management and Castle Harlan poured more cash into Houston energy operations this week, snapping up local companies’ oil assets and opening new offices here in a string of deals as rising crude prices …

Australian Territory Lifts Fracking Ban in Boost for Shale

Australian Territory Lifts Fracking Ban in Boost for Shale

From Bloomberg

  • Northern Territory government imposed restrictions in 2016
  • Risks can be reduced to acceptable level: chief minister

Australia’s Northern Territory has ended its ban on hydraulic fracturing, boosting the prospects for energy explorers operating in some of the country’s …

Ring Energy: Q1 2018 Operations Update

Ring Energy: Q1 2018 Operations Update

Ring Energy, Inc. Releases First Quarter 2018 Operations Update

EOG Resources, Mountrail County, North Dakota.

North Dakota Produced 1.2 MMBOPD in Feb.; N.D. Gas Production Hit All Time High at 2.1 Bcf per Day

North Dakota’s State Industrial Commission has released new production numbers for 2018, covering the months of January and February.

In January the state produced 36.6 MMbbls of oil, or 1.2 MMBOPD, and 64,226,435 Mcf, or 2,071,820 Mcf/day.

February was another …

Razor Energy Reports Q4

Razor Energy Reports Q4

Razor Energy Corp. (ticker: RZE) recorded a positive Q4 2017 net income of $2.3 million, or $0.14 per share. For 2017, the company had a net loss of $3.7 million, or $(0.27) per share. The company produced 4,534 BOEPD in …

Kinder Morgan Delay Costs Canada $40 Million a Day

Kinder Morgan Delay Costs Canada $40 Million a Day

From News 1130/The Canadian Press

New law would allow Alberta to restrict flow of oil and gas

The Alberta government has introduced legislation that would give the energy minister power to restrict the flow of oil, gasoline and natural gas …

$800 Million Acquisition

$800 Million Acquisition

From Global Legal Chronicle

Vista Oil & Gas, S.A.B. de C.V. (BMV: VISTA), the first Mexican pure E&P listed company in the Mexican Stock Exchange, has agreed to acquire a fully operational oil & gas platform from Pampa Energía S.A. …

Aramco’s Huge Numbers: 2017’s First Half Net Income Exceeded that of 5 Global Supermajors Combined – Bloomberg

Aramco’s Huge Numbers: 2017’s First Half Net Income Exceeded that of 5 Global Supermajors Combined – Bloomberg

Redefining ‘Big Oil’:  add up the first half 2017 income of Shell, Exxon, BP, Chevron and Total—Aramco, the world’s largest oil company, is bigger than all of them combined

If Saudi Aramco has its way, it will soon be the …

Canada’s Energy Sector Faces Rough Waters

Canada’s Energy Sector Faces Rough Waters

Stiff U.S. competition, an inter-province pipeline row prolongs limited export opportunity, and U.S. is its only big export customer

 

With U.S. shale on a tear, imports are dropping

Total U.S. crude production reached 10 MMBOPD in November 2017 and …

Torchlight Energy Sets Frac Date on Orogrande Horizontal

Torchlight Energy Sets Frac Date on Orogrande Horizontal

Torchlight Energy Sets Frac Date on Orogrande Horizontal

IFR Joint Venture Commences Drilling of First Well at Tecolutla

IFR Joint Venture Commences Drilling of First Well at Tecolutla

IFR Joint Venture Commences Drilling of Historic First Well at Tecolutla

GeoPark Production Moves to 35 MBOEPD

GeoPark Production Moves to 35 MBOEPD

Latin American E&P operator GeoPark Limited (ticker: GPRK) released a production update today, noting that current production is currently at 35 MBOEPD. This figure includes production from the recent Argentina acquisition.

  • Oil production increased by 33% to 27,345 BOPD (up
E&P Bankruptcy Filings Down 67% in 2017: Haynes and Boone

E&P Bankruptcy Filings Down 67% in 2017: Haynes and Boone

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.

E&P Bankruptcy Filings Down 67% in 2017: Haynes and Boone

These …

Diamondback Energy Running 11 Rigs, 5 Frac Crews in the Permian: Production Up 10% over Q4

Diamondback Energy Running 11 Rigs, 5 Frac Crews in the Permian: Production Up 10% over Q4

Diamondback Energy, Inc. (ticker: FANG) produced 102.6 MBOEPD in Q1 2018. This is 10% more than Q4 2017 production volumes of 92.9 MBOEPD. Diamondback is currently running 11 drilling rigs and five dedicated completion crews.

Q1 2018 average realized prices …

New Zealand Bans New Offshore Exploration

New Zealand Bans New Offshore Exploration

From NZ Herald

Prime Minister Jacinda Ardern has banned future offshore oil and gas exploration in New Zealand.

The only exploration likely to be contemplated by the new Government is on-shore exploration limited to energy-rich Taranaki.

There are more than …

How Will Higher Taxes Impact Oklahoma?

How Will Higher Taxes Impact Oklahoma?

From NewsOK

Participants in Tuesday’s energy chat on NewsOK asked how recently approved increases in taxes on Oklahoma wells might impact the ongoing resurgence of the state’s oil and gas industry, among other things.

The Oklahoman’s energy writers, Adam Wilmoth …

Canacol Energy Ltd. Provides Chirimia 1 Drilling Results and Operations Update

Canacol Energy Ltd. Provides Chirimia 1 Drilling Results and Operations Update

Canacol Energy Ltd. Provides Chirimia 1 Drilling Results and Operations Update

Contango Updates Southern Delaware Basin Operations

Contango Updates Southern Delaware Basin Operations

Contango Updates Southern Delaware Basin Operations

ConocoPhillips Doubles Down in British Columbia’s Montney with 35,000-Acre Acquisition

ConocoPhillips Doubles Down in British Columbia’s Montney with 35,000-Acre Acquisition

Oil and gas investment in politically risky British Columbia

Just a few days before Kinder Morgan Canada said it would halt investment and construction on the Trans Mountain pipeline expansion due to political risk in British Columbia, ConocoPhillips (ticker: COP) …

Oil & Gas Industry Sees 10%-20% Borrowing Base Hikes, Predicts Next Big Play: Haynes and Boone Survey Results

Oil & Gas Industry Sees 10%-20% Borrowing Base Hikes, Predicts Next Big Play: Haynes and Boone Survey Results

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, …

Lilis Energy Makes Executive Changes

Lilis Energy Makes Executive Changes

Permian E&P Lilis Energy, Inc. (ticker: LLEX) has appointed Ronald D. Ormand to CEO, in addition to his position as chairman of the board.

James W. Denny III has been appointed EVP of production and operations, and the board of …

Bahrain Shale Find Puts Oil Market on Notice

Bahrain Shale Find Puts Oil Market on Notice

From Bloomberg

The U.S. and Canada may no longer have this type of production all to themselves

Bahrain discovered the first oil on the Arab side of the Gulf in 1932. It took a long time for the small island …

Lonestar Resources: Horned Frog Completions Producing 2,100~ BOEPD

Lonestar Resources: Horned Frog Completions Producing 2,100~ BOEPD

Lonestar Updates Results of Horned Frog Completions

Valhall Drilling Platform, Norway

Philippines Eyes Joint Exploration Deal with China in South China Sea

From Reuters

The Philippines is looking to seal a pact with China within a few months to jointly explore for oil and gas in a part of the busy South China Sea waterway claimed by both countries, a Philippine official …

Shell Made $59 Billion in Total Payments to Governments in 2017

Shell Made $59 Billion in Total Payments to Governments in 2017

Shell’s payments for upstream were $22.4 billion 

All in, including upstream, LNG activities and refining operations, in 2017 Shell (ticker: RDS.A) said it paid in total more than $59.1 billion to governments.

“We paid $6.3 billion in income taxes and …

EIG’s FS Energy and Power Fund – at $4.3 Billion – is Largest Energy BDC

EIG’s FS Energy and Power Fund – at $4.3 Billion – is Largest Energy BDC

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 …

Icahn at it Again

Icahn at it Again

Last week Carl Icahn gave Sandridge Energy Inc. (ticker: SD) another poke as he suggested an all-cash offer for the company with a major catch – he wants to decide who goes on the company’s board of directors.

Bloomberg reported