November set records for gas production, producing wells The North Dakota Industrial Commission released its December 2016 Oil and Gas Production Report today, outlining hydrocarbon activity in the state for December 2016. Overall activity in December is down about 10% from levels seen in November. The NDIC reports that oil production is down to 942 MSTB/d in December, from 1,034
From ESTEVAN MERCURY The production of crude oil and equivalent products reached a record high in Canada in November of last year. The increase was attributed to synthetic crude oil production which was up by 17.5 per cent to 5.8 million cubic metres and non-upgraded crude bitumen which was up 9.8 per cent to 7.7 million cubic metres. The production
Evolution Petroleum: a dividend paying company with a debt-free balance sheet – exclusive interview with EPM CFO David Joe The downturn in oil prices proved a difficult storm to weather for much of the industry. Companies that had levered up while oil was over $100 per barrel were suddenly left without a life-raft when the price ship sank, but for
From Argus Two Iranian very large crude carriers (VLCCs), belonging to state-owned NITC, are heading west from Europe across the Atlantic ocean. The VLCC the Huge unloaded around 2.1mn bl of crude at the Shell oil terminal in Rotterdam and left the port at around 15:00 local time (14:00 GMT). It is signalling its destination as the Mexican Cayo Arcas terminal operated
Trading remains stuck in mid-$50s despite output falling 890,000 barrels a day From The Week UK The oil price has failed to break out of its mid-$50s range, despite data from the powerful Opec cartel showing its members are sticking to a deal to cut production. Figures published yesterday revealed the 14-nation group’s output declined by 890,000 barrels a day
From The Oil & Gas Year Iraq, OPEC’s second-biggest supplier, is set to see oil output decline significantly in March, international media reported on Monday. It is unclear whether this is the result of unforeseen circumstances or a direct push to meet the country’s obligations under the production cut agreement reached last November. Loading programmes obtained by Reuters and Bloomberg show that
Strong EnerCom Dallas conference registrations point to 2017 energy sector uptick EnerCom Dallas, EnerCom’s Texas-based oil and gas investment conference, will bring together a slate of upstream producers and oilfield technology innovators working in key global oil and gas jurisdictions. If registrations from the institutional investment community are any indication, the energy sector should be looking for a banner year in 2017.
Energy producers, banks can solve “massive problems, wicked fast” “BetaZi™ products allow our customers to correctly solve massive problems, wicked fast.” That’s how BetaZi™ CEO Janette Conradson put what her company does, talking to Oil & Gas 360® this week. Conradson said BetaZi is the first company to deliver the promise of big data to the North American oil and
PLS Capitalize™ Report: Oil & gas industry raised $186 Billion through U.S. public offerings in 2016; PLS predicts surge in M&A activity in 2017 Houston’s oil and gas research firm PLS Inc. provided the following statistical review of capital markets activity today, with the help of its capital markets tracking platform Capitalize™. Highlights of the PLS Capitalize™ report include: Aggregate
Noble Energy announces $2.3-$2.6 billion budget with a focus on liquids in the DJ, Delaware and Eagle Ford Houston-based Noble Energy (ticker: NBL) announced the company’s capital guidance for the year, stating that the company plans to increase its spending by $950 million (63%) from its 2016 capital budget. The company said it will spend between $2.3 and $2.6 billion
EarthStone Energy plans to grow production 200% to 400% on acquired Midland assets in 2017 With 2016 in the books and many companies reporting their year-end numbers, markets are beginning to look forward to the year ahead. A stable oil price and greatly improved drilling efficiencies have led many to have a more optimistic attitude about 2017, particularly about companies
Pioneer expects to place ~260 horizontal wells on production in 2017 Pioneer produced 234 MBOEPD in 2016, up 15% from prior year One of the best years in Pioneer’s 20-year history: Dove Exported 525,000 barrels of Permian basin oil in Q4 2016 Looks to ship two 525,000 barrel cargoes to Asia in Q1 2017: $2.5 billion D&C CapEx targets 18
