Exploration and Production (E&P)

Cabot Oil & Gas Banks on Low-Cost Operations, High-Return Marcellus Wells in Q4’14 Earnings

Cabot Oil & Gas Banks on Low-Cost Operations, High-Return Marcellus Wells in Q4’14 Earnings

Cabot Oil & Gas (ticker: COG), a large-cap E&P with operations in the Marcellus and Eagle Ford shales, reported company records for production and net income excluding selected items in its year-end 2014 earnings release. Full-year production in 2014 was …

BP Energy Outlook: United States “Likely” to be Self-Sufficient in Oil by 2030s

BP Energy Outlook: United States “Likely” to be Self-Sufficient in Oil by 2030s

BP Energy (ticker: BP) released its latest edition of the 2035 Energy Outlook on February 17, 2015, complete with supporting materials, a press release and a webcast. The landing page of the report can be accessed by clicking here.

BP …

EnerCom’s The Oil & Services Conference™ 13 Primer

EnerCom’s The Oil & Services Conference™ 13 Primer

toscEnerCom, Inc. is pleased to present its 13th edition of The Oil & Services Conference™ from the Omni Hotel in San Francisco. The two-day affair will feature 34 presentations from E&Ps, OilService providers and industry experts from around the …

EIA: North America Pacing the World in Tight Oil, Shale Gas Development

EIA: North America Pacing the World in Tight Oil, Shale Gas Development

The United States and Canada are the only two countries in the world to commercially produce both shale gas and tight oil, the Energy Information Administration said on February 13, 2015. Two other countries, China and Argentina, are the only …

Capital Spending News

Capital Spending News

Updates from March 3, 2015 include:

Anadarko Announces 2015 Capital Program And Guidance – Click for release.

  • Recap: 2015 guidance of $5.4 to $5.8 billion, down roughly 40% from 2014’s total of $9.3 billion. U.S. onshore activity will get the
Oil Prices Going Down, No, Up

Oil Prices Going Down, No, Up

Hofmeister looks for WTI to climb toward $100, while Morse sees one scenario at $20

John Hofmeister, former Shell Oil Company president, was on BNN today predicting the return–sooner than later–of much higher oil prices due to increasing decline rates, …

Callon Petroleum Fitting the Role of a Low-Cost Permian Producer

Callon Petroleum Fitting the Role of a Low-Cost Permian Producer

An Exclusive Interview with CPE’s CEO Fred Callon

Callon Petroleum (ticker: CPE) became a pure-play Permian Basin E&P no more than one year ago, but its efficiency in the United States’ greatest oil producing play is apparent. In a news …

Lonestar Resources Announces Increases Across the Board in Q4’14 Results

Lonestar Resources Announces Increases Across the Board in Q4’14 Results

Lonestar Resources, (OTCQX: LNREF, ASX: LNR), an oil and gas company with assets in the Eagle Ford and Bakken shales, reported its Q4’14 earnings on February 2, 2015. The Fort Worth-based E&P reported several company records despite the challenges associated …

Companies Begin to Apply for Seismic Testing Offshore in the Atlantic

Companies Begin to Apply for Seismic Testing Offshore in the Atlantic

Two applications for seismic surveys have been submitted following the announcement from the Obama administration that it would open up portions off the east coast for offshore drilling. The two companies, Spectrum Geo and GX Technology, both Houston based companies, …

Real Estate Developers Accelerate Projects in the Bakken Oil Field

Real Estate Developers Accelerate Projects in the Bakken Oil Field

“The oil supply is here and the demand will always be there.” – Jason Vedadi

Dropping oil prices may have put the brakes on a lot of E&Ps’ capital spending plans for 2015, but that’s not slowing down Jason Vedadi …

Source: Rosneft

Sanctions Prevent Russia From Resuming Drilling in the Arctic in 2015

Sources inside the company have confirmed that Rosneft will not be able to move forward in the Arctic for at least a year due to sanctions.

State-owned energy giant Rosneft (ticker: RNFTF) will not be able to continue drilling in …

Close proximity of oil and gas drilling operations to residential real estate developments creates problems for operators and homeowners.

Erie, Colo. Town Council Votes Against Postponing Drilling Permits in the Wattenberg

The town of Erie, Colorado, has decided against postponing drilling permits within city limits, The Denver Post reported today. The Erie Board of Trustees voted to not impose a moratorium by a 4-3 count. Citizens had filed noise complaints from …

Oil & Gas Development on the East Coast Takes Next Step

Oil & Gas Development on the East Coast Takes Next Step

The United States Department of the Interior, in conjunction with President Obama, Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management Director Abigail Ross Hopper, released a Draft Proposed Program for development of offshore properties in an …

U.S. Crude Oil Exports Are Quietly Picking up Steam

U.S. Crude Oil Exports Are Quietly Picking up Steam

Reuters reports Enterprise Products Partners (ticker: EPD) has secured light crude oil export contracts with Mitsubishi’s Petro-Diamond Singapore and Vitol, an independent oil trader, for volumes of 40 MBOPD in 2015. The information comes from Reuters sources based on anonymity, …

Magnum Hunter CEO Gary Evans Sets the Record Straight: “Rumors of Our Death Have Been Greatly Exaggerated”

Magnum Hunter CEO Gary Evans Sets the Record Straight: “Rumors of Our Death Have Been Greatly Exaggerated”

Magnum Hunter Jan. 23 Conference Call

Gary Evans drew on some famous American humor to lead off this morning’s conference call “to discuss macro events affecting the energy sector and company specifics.” Evans paraphrased the famous quip from North American …

Source: Tullow Oil

Tullow Oil Announces Discoveries in Kenya

Tullow Oil Plc. (ticker: TLW) announced that a series of appraisal wells have made discoveries in Kenya. The three exploration wells, the Ngamia-5, Ngamia-6 and Amosing-3 appraisal wells all encountered oil, according to the company’s exploration and appraisal update.…

A Point of Light:  Diamondback Energy’s Offering of 1.75 Million Shares

A Point of Light: Diamondback Energy’s Offering of 1.75 Million Shares

Permian Operator Will Use Equity Proceeds to Pay Debt

While the oil and gas industry is battening down the hatches, issuing bailing buckets to all hands and looking for a solid toehold as forty-six dollar crude oil sloshes under and …

Harvest Natural Resources Files for International Arbitration vs. Venezuela

Harvest Natural Resources Files for International Arbitration vs. Venezuela

To say Houston’s Harvest Natural Resources (ticker: HNR) has been frustrated by the government of Venezuela is an understatement. On Jan. 15, Harvest submitted a request for international arbitration against the sovereign nation.

After years of fruitless negotiations with Venezuela …

NGP Launches 11th Energy Private Equity Fund with $5.325 Billion

NGP Launches 11th Energy Private Equity Fund with $5.325 Billion

Cash is Flowing into North American Oil and Gas Industry:  OAG360 Exclusive Interview with Ken Hersh

“We operate with a very wide and blank canvas.” – Ken Hersh, CEO, NGP Energy Capital Management

Raising capital to fund North American energy …

Balance Sheet an Asset for these Small-Mid Cap E&Ps

Balance Sheet an Asset for these Small-Mid Cap E&Ps

Earnings season is approaching, and balance sheets will carry more weight than they have in years.

The oil price slide has resulted in a much greater debt to market cap percentage across the oil and gas sphere. In EnerCom’s E&P …

Range Resources Reserves Increase 26%

Range Resources Reserves Increase 26%

The company announced today large increases to its reserves

Range Resources (ticker: RRC) announced today that the company’s proved reserves have increased to 10.3 trillion cubic feet equivalent (Tcfe), an increase of 26%. In its press release, RRC also …

Oil Prices: WTI Tops Brent as Export Options Gain Interest

Oil Prices: WTI Tops Brent as Export Options Gain Interest

The price of West Texas Intermediate (WTI) exceeded Brent for the first time since July 2013 today, before closing at $48.63 – just $0.14 below its spot price counterpart. In an interview with Bloomberg, John Kilduff, a partner at Again …

Oil & Gas 360

Oil & Gas 360® Exclusive Interview: Stephens E&P Research

Short Term Oversupply, Permian in the Pole Position

Oil & Gas 360® interviewed Stephens Inc. Senior Vice President E&P Research, Will Green, and Vice President E&P Research, Ben Wyatt, this week, in pursuit of their view of the current commodities …

Russia Faces More Obstacles than Falling Oil Prices

Russia Faces More Obstacles than Falling Oil Prices

Low prices will hurt the Russian economy, but they are far from being Russia’s only problem

The World Bank last month released its growth projections for Russia in 2015 and 2016, offering a glimpse into a potentially bleak future for …

Refineries, Gasoline Prices Experiencing the Silver Lining of Commodity Environment

Refineries, Gasoline Prices Experiencing the Silver Lining of Commodity Environment

United States refineries are running at utilization rates well above 90%, but don’t count them as part of the oil and gas industry being squeezed in the current commodity market. The Energy Information Administration (EIA) still expects domestic production to …

Permian Production Nearing 2 MMBOPD in Latest EIA Report

Permian Production Nearing 2 MMBOPD in Latest EIA Report

The Drilling Productivity Report, released monthly by the Energy Information Administration, expects production in all seven listed regions to rise in February even though companies are laying down rigs and reducing operations.

The two respective giants of the oil and …

Despite Road Bumps for Other Projects, Alaska LNG Moves Forward

Despite Road Bumps for Other Projects, Alaska LNG Moves Forward

Alaska’s LNG “gigaproject” moving forward despite low prices

While many liquid natural gas (LNG) projects are being put on the back burner due to the low oil price environment, the Alaska LNG project continues to march on.

The project, which …

Barclays Initiates Coverage on Oilservice Sector with “Neutral” Outlook

Barclays Initiates Coverage on Oilservice Sector with “Neutral” Outlook

Barclays’ coverage initiation on the oilservice sector last week could very well be summed up in two words: budget cuts.

The London-based banking company says approximately 90% of the oilservice group is historically correlated to oil prices, and the dropping …

Northern Oil and Gas: Large Non-Operator in Bakken/Three Forks

Northern Oil and Gas: Large Non-Operator in Bakken/Three Forks

Northern’s New Website Tells the “One Step Ahead of the Drill Bit” Story with Jumbo Graphics, Maps and Aerial Photography

Northern Oil and Gas, Inc. (ticker: NOG), is an independent oil and gas producer that has one of the largest …

DNB Sees Bullish Signals in the Oil Patch

DNB Sees Bullish Signals in the Oil Patch

$70-$100 per Barrel for the Coming 5-10 Years

In its Oil Market Report sent to clients today, DNB Bank’s Oslo research team led by oil market analyst Torbjørn Kjus, said “we now believe prices have dropped to unsustainably low levels …