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
Viking formation’s shallow light oil keeps well costs low There are several world-class oil and gas plays in Canada. The Montney has excellent stacked play potential, and the Cardium field has been known for years. When it comes to light oil, though, one play stands above the rest, the Viking formation in Alberta and Saskatchewan. This field has very high-quality
Acquisition makes Parsley second largest publicly traded E&P in the Midland basin Parsley Energy (ticker: PE) announced the acquisition of 71,000 net acres in the Midland basin for $2.8 billion today, increasing its Permian acreage by 45%. The acreage will be purchased from Double Eagle Energy, a private land-centered E&P company. Including this acquisition Parsley’s total Midland basin acreage is
U.S. oil production to grow 1 million bpd in 2018 The EIA released its monthly Short-Term Energy Outlook today, outlining predicted energy production and consumption through 2018. The EIA revised its estimates of the 2016 crude supply build, decreasing the expected supply build to 0.8 MMBOPD from 0.9 MMBOPD. Additionally, future inventory balances were revised, with inventory decreasing by 0.1
From The Hill The Army Corps of Engineers will grant the final approval needed to complete the controversial Dakota Access oil pipeline within a day, it told lawmakers Tuesday. The news from the Army Corps, in letters to Congress and to a federal judge in Washington, D.C. came two weeks after President Trump issued a memo asking the agency to approve the
Wattenberg operator Synergy Resources Corporation (ticker: SYRG) issued preliminary December 31, 2016 financial results. Highlights Production sales volumes for three and twelve months ended December 31, 2016 were 13,269 BOE/day (58% oil) and 11,670 BOE/day (53% oil), respectively Drilling and completion capital expenditures for three and twelve months ended December 31, 2016 were $47.7 million and $130.9 million, respectively Liquidity of
U.S. still Canada’s biggest customer From The Globe and Mail Canada posted a second consecutive monthly trade surplus for the first time in more than two years in December, but booming oil exports obscured weakness in some key sectors. The $923-million surplus announced by Statistics Canada on Tuesday exceeded analysts’ forecasts of a $350-million positive balance. Statscan revised November’s surplus
Contango Oil & Gas built a position in the hottest play in the U.S. at a fraction of the going cost The Delaware Basin has become the U.S.A. focal point for oil and gas acquisitions over the course of the last year, with the per-acre value of deals sky-rocketing compared to other plays in the country. The Delaware’s high rates
From CNBC: Despite a recent OPEC agreement to cut oil production and boost prices, it is unrealistic to expect that the commodity will reach $65 a barrel in the near term, an analyst at the Paris-based International Energy Agency told CNBC. OPEC countries reached an agreement last November to cut production by 1.2 million barrels per day to support oil
