Fracing

Comstock Resources’ Haynesville Shale Drilling Program Expands 2017 Gas Production by 90%

Comstock Resources’ Haynesville Shale Drilling Program Expands 2017 Gas Production by 90%

Haynesville producer Comstock Resources, Inc. (ticker: CRK) produced 22 Bcf of natural gas and 214,000 barrels, or 23.5 Bcfe in the fourth quarter of 2017.

Natural gas production averaged 241 MMcf/d, reflecting growth of 90% from pro forma natural gas …

Permian Basin Economic Indicators

Permian Basin Economic Indicators

The Federal Reserve Bank of Dallas reported that wages in the Permian Basin fell for the second quarter in a row after spiking in first quarter 2017. The rig count and crude oil production rose in January, the Fed said.…

Liquefied Natural Gas Plant, Australia

Australia and East Timor Agree to Develop $50 Billion Oil and Gas Field

From ABC/Reuters

East Timor and Australia have reached an agreement for a treaty on their disputed maritime border and on a “pathway” to develop the giant Greater Sunrise offshore gas fields, the Permanent Court of Arbitration in The Hague …

Papua New Guinea Operations Paused After Quake

Papua New Guinea Operations Paused After Quake

From Reuters 

At least one company began evacuating non-essential personnel after a powerful 7.5 magnitude earthquake hit Papua New Guinea’s energy-rich interior on Monday, causing landslides, damaging buildings and closing oil and gas operations.

The tremor hit in the rugged, …

Whiting Petroleum: 2018 CapEx of $750 Million, 100-Plus Wells Planned

Whiting Petroleum: 2018 CapEx of $750 Million, 100-Plus Wells Planned

Whiting Petroleum (ticker: WLL) has a 2018 capital budget of $750 million, of which $600 million will be invested in Williston Basin operations. The capital budget forecasts a production growth of 9% from Q4 2017 to Q4 2018, with an …

Unit Corporation Produces 4.3 MMBOE in 2017

Unit Corporation Produces 4.3 MMBOE in 2017

In the fourth quarter of 2017, Unit Corporation (ticker: UNT) recorded a net income of $89.2 million, this compares to a net income of $1.7 million for Q4 2016. $81.3 million of the net income was accounted for as a …

Cabot Oil & Gas Earns $100 Million in 2017, Plans $950 Million 2018 CapEx

Cabot Oil & Gas Earns $100 Million in 2017, Plans $950 Million 2018 CapEx

Cabot Oil & Gas Corporation (ticker: COG) produced 685.3 Bcfe in 2017. The production mix consisted of 655.6 Bcf of natural gas, 4,440.9 Mbbls of crude oil and condensate and 512.1 Mbbls of NGLs.

Cabot incurred a total of $757.2 …

Chesapeake Energy Completes 417 Wells in 2017

Chesapeake Energy Completes 417 Wells in 2017

Chesapeake Energy Corporation (ticker: CHK) produced approximately 593,200 BOEPD in Q4 2017. Chesapeake’s average daily production for the 2017 full year was approximately 547,800 BOE, compared to approximately 635,400 BOE in the 2016 full year.

The company’s total capital investments …

WPX Grows Oil Production 47% in Q4, Forecasts $1 Billion 2018 Drilling CapEx

WPX Grows Oil Production 47% in Q4, Forecasts $1 Billion 2018 Drilling CapEx

WPX Energy (ticker: WPX) reported Q4 2017 oil volumes of 75,200 BOPD, which was 68% higher than a year ago, and 16% higher than Q3 2017.

WPX’s first two North Sunday Island wells in the Williston Basin have 120-day cumulative …

EQT Splits Upstream and Midstream Businesses

EQT Splits Upstream and Midstream Businesses

Tax-free separation creates two Appalachian-based energy companies

EQT Corporation (ticker: EQT) has approved a plan to separate its upstream and midstream businesses, creating a standalone publicly traded corporation (NewCo) that will focus on midstream operations. The separation is intended to …

Concho Resources Produces 70 MMBOE

Concho Resources Produces 70 MMBOE

Concho Resources Inc. (ticker: CXO) produced 19 MMBOE in Q4 2017, an average of 211 MBOEPD. This is 28% more than Q4 2016 and 9% more than Q3 2017. Average daily crude oil production for fourth-quarter 2017 totaled 130 MBOPD, …

Energen Approaches 100 MBOEPD

Energen Approaches 100 MBOEPD

Energen Corporation (ticker: EGN) released financial and operating results for the fourth quarter and calendar year ended December 31, 2017.

“Over the last five years, the board and management have strategically divested non-core assets and transformed Energen into a low-cost …

Hi-Crush Sells 8.93 Million Tons of Frac Sand in 2017

Hi-Crush Sells 8.93 Million Tons of Frac Sand in 2017

Hi-Crush Partners LP (ticker: HCLP) reported its Q4 and full year 2017 results. Revenues for the fourth quarter of 2017 totaled $216.5 million on sales of 2,985,115 tons of frac sand. This compares to $167.6 million of revenues on sales …

PetroQuest: Two Cotton Valley Wells Completed

PetroQuest: Two Cotton Valley Wells Completed

PetroQuest Energy, Inc. (ticker: PQ) has new results from its horizontal Cotton Valley drilling program in East Texas.

The company recently completed two wells (PQ #29 – 52% NRI and PQ #30 – 59% NRI) which established a cumulative maximum …

February 20, 2018 - 12:13 pm Closing Bell Story‎, Fracing
Colorado Wattenberg Field: Preparing a horizontal drilling rig - Oil & Gas 360

‘Frac Hits’ a Growing Issue as Infill Drilling, Frac Stages Rise in the Permian

From the Midland Reporter-Telegram

The Permian Basin is getting crowded, with thousands of new wells being drilled.

And it’s going to get even more crowded as Permian Basin operators have amassed in excess of 100,000 drilling locations.

With all those …

February 19, 2018 - 6:30 pm Closing Bell Story‎, Energy News, Fracing
Egypt Buys $14 Billion of NatGas from Noble Energy, Delek

Egypt Buys $14 Billion of NatGas from Noble Energy, Delek

Noble Energy, Inc. (ticker: NBL) has signed agreements to sell significant quantities of natural gas from the Leviathan and Tamar fields to Dolphinus Holdings Limited to supply gas in Egypt.

These agreements, one for natural gas from Leviathan and one …

Cimarex Energy Earns $5.19 per Share in 2017

Cimarex Energy Earns $5.19 per Share in 2017

  • Fourth quarter 2017 net income of $174.7 million, or $1.83 per share, compared to fourth quarter 2016 net income of $47.8 million, or $0.50 per share
  • For 2017, net income totaled $494.3 million, or $5.19 per share

Cimarex Energy Co. …

Marathon Oil Preps for $2.3 Billion CapEx in 2018, Forecasts ~400 MBOEPD Net Production

Marathon Oil Preps for $2.3 Billion CapEx in 2018, Forecasts ~400 MBOEPD Net Production

Marathon Oil Corporation (ticker: MRO) will have a $2.3 billion capital budget for 2018. The company said the budget is self-funding at $50 average WTI and will generate free cash flow at $60 average WTI. More than 90% will be …

Precision Drilling Increased Rig Automation, Exits 2017 with 63 Active Rigs

Precision Drilling Increased Rig Automation, Exits 2017 with 63 Active Rigs

Targets 2018 upgrades to stay below $34 million

Precision Drilling Corporation (ticker: PDS) had fourth quarter 2017 revenues of CDN$347 million, an increase of 15% over Q4 2016. Precision posted a Q4 2017 net loss of CDN$47 million, or (CDN$0.16) …

Occidental Petroleum Averaged 621 MBOEPD in Q4

Occidental Petroleum Averaged 621 MBOEPD in Q4

Occidental Petroleum Corporation (ticker: OXY) reported net income of $497 million, or $0.65 per diluted share, for the fourth quarter of 2017, compared with $190 million, or $0.25 per diluted share, for the third quarter of 2017.

Core income for …

Antero Resources: Longer, Faster Marcellus Laterals

Antero Resources: Longer, Faster Marcellus Laterals

Antero spent $1.28 billion on drilling and completions in 2017, producing an average of 2,253 MMcfe/d

Antero Resources

Full-year and Q4 2017 spending

Antero Resources (ticker: AR) spent $1.282 billion on drilling and completions in 2017. The company invested $204 million for …

Diamondback Energy Earns $115 Million in Q4, Earmarks $1.3 Billion-$1.5 Billion 2018 Permian Spend

Diamondback Energy Earns $115 Million in Q4, Earmarks $1.3 Billion-$1.5 Billion 2018 Permian Spend

Diamondback Energy, Inc. (ticker: FANG) pulled in a net income of $115 million in the fourth quarter of 2017, or $1.16 per diluted share. Diamondback spent $246 million on drilling, completions, non-operated properties and $61 million on infrastructure in the …

Denbury Resources Plans $300 Million 2018 CapEx

Denbury Resources Plans $300 Million 2018 CapEx

Denbury Resources Inc. (ticker: DNR) released its preliminary year-end 2017 proved reserves, production and capital expenditures, along with its 2018 capital budget and estimated annual production.

Preliminary Q4 2017/annual production

Denbury’s production averaged 61,144 BOEPD (97% oil) during the fourth …

U.S. NatGas Reserves Went Up, but Oil Stands Pat in 2016: EIA

U.S. NatGas Reserves Went Up, but Oil Stands Pat in 2016: EIA

U.S. proved reserves of natural gas increased 5% in 2016, compared with a 17% decline in 2015

The United States had 341.1 trillion cubic feet (Tcf) of natural gas proved reserves as of December 31, 2016, according to U.S. Crude

Advantage Oil & Gas Averaged Production of Nearly 40 MBOEPD in 2017

Advantage Oil & Gas Averaged Production of Nearly 40 MBOEPD in 2017

Advantage Oil & Gas Ltd. (ticker: AAV) released Q4 2017 and year-end 2017 results today. The company added reserves, increased annual production by 16% and spent $249 million in 2017.

Growing reserves

PDP reserves increased 27% due to the recognition …

Alta Mesa Resources, Silver Run, Kingfisher Deal is in the Books

Alta Mesa Resources, Silver Run, Kingfisher Deal is in the Books

Stock will trade on Nasdaq: AMR, starting Feb. 12

Silver Run Acquisition Corporation II (ticker: SRUN) completed its business combination with Alta Mesa Holdings, LP and Kingfisher Midstream, LLC.

Alta Mesa is an independent exploration and production company focused on …

PLS Tracks $129.3 Billion in New Oil and Gas Capital in 2017

PLS Tracks $129.3 Billion in New Oil and Gas Capital in 2017

Capitalize, PLS Inc.’s proprietary comprehensive capital markets tracking platform, released a statistical review of the oil and gas industry’s capital markets activity for calendar year 2017.

Key findings:

  • $34 billion in equity raised through offerings in 2017, down 36% from
Bohrturm, Österreich: Weißer Hof 2014

Southwestern Energy Aims $1.25 Billion CapEx at Appalachian Basin

Southwestern Energy Company (ticker: SWN) will be going deeper into the Appalachian once again in 2018. The plan includes drilling 100-120 wells, completing 105-125 wells and placing 125-145 wells to sales.

2017 recap

In 2017, SWN had a total net …

ExxonMobil Stacks 2.7 Billion More Barrels into Reserves, Bringing 2017 Total to 21.2 Billion Barrels

ExxonMobil Stacks 2.7 Billion More Barrels into Reserves, Bringing 2017 Total to 21.2 Billion Barrels

Exxon Mobil Corporation (ticker: XOM) added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of 2017 production. ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. Liquids represented 57% of the …

Anadarko Petroleum Rakes in $976 Million in Q4

Anadarko Petroleum Rakes in $976 Million in Q4

Anadarko Petroleum Corporation (ticker: APC) reported fourth quarter of 2017 net income attributable to common stockholders of $976 million, or $1.80 per share (diluted).

Net cash provided by operating activities in the fourth quarter of 2017 was $1.4 billion.

For …