Exploration and Production (E&P)

Range Resources Q2 2017: $70 Million Net Income Reverses Last Year’s Loss

Range Resources Q2 2017: $70 Million Net Income Reverses Last Year’s Loss

Production approaching 2 Bcfe per day

During its second quarter of 2017, Range Resources (ticker: RRC) reported a net income of $70 million as compared to a net loss of $225 million a year ago. The company’s cash margins grew …

BP Sees Its Unit Production Costs 40% Lower than 2013

BP Sees Its Unit Production Costs 40% Lower than 2013

International oil giant BP (ticker: BP) reported that its Q2 2017 production—at 2.431 MMBOEPD was 10% higher than Q2, 2016. The company earned $144 million during the second quarter, bringing its profit to $1.593 billion during the first half of …

Cold Bore Technology: Moving Oil and Gas from an Analog World to a Digital World

Cold Bore Technology: Moving Oil and Gas from an Analog World to a Digital World

Cold Bore Technology’s SmartPAD™ is not a notebook computer designed to locate hydrocarbons with a tap on the mousepad.  But it is equally valuable in the oilfield because the Calgary-based oilfield technology company helps operators locate and eliminate another very …

PSAC Ups 2017 Prediction for Canada Drilling Levels

PSAC Ups 2017 Prediction for Canada Drilling Levels

The Petroleum Services Association of Canada (PSAC) increased its forecasted number of 6,680 wells to be drilled (rig released) across Canada for 2017 to 7,200 wells drilled.

PSAC based its updated 2017 Forecast on average natural gas prices of $2.75 …

With Big Players Come Big Rig Counts: XOM, COP, CVX Report Q2

With Big Players Come Big Rig Counts: XOM, COP, CVX Report Q2

In the past two days ExxonMobil Corporation (ticker: XOM), Chevron Corporation (ticker: CVX), and ConocoPhillips (ticker: COP) all reported second quarter earnings and gave operational updates.

ExxonMobil

ExxonMobil earned $3.4 billion in Q2, which brought the company’s earnings for the …

EnerCom Posts Presenter Schedule of Technology Innovators at Oilfield Tech and Innovation Day

EnerCom Posts Presenter Schedule of Technology Innovators at Oilfield Tech and Innovation Day

EnerCom, Inc. has confirmed 16 leaders in technical innovation for oil and gas exploration and production will be presenting at the EnerCom Oilfield Tech & Innovation Day, on Aug. 17 in Denver, Colorado.

It’s a day that focuses on the

QEP Resources Adds $732 Million of New Permian Acreage

QEP Resources Adds $732 Million of New Permian Acreage

EnerCom conference presenter QEP adds 730 potential Hz drilling locations in the new acreage

QEP Resources (ticker: QEP) followed its southwestern Wyoming Pinedale anticline divestiture with an acquisition of more acreage in the Permian.

QEP said its subsidiary company, QEP …

Anadarko Q2: Permian Growing, GOM Production will Maintain through 2019

Anadarko Q2: Permian Growing, GOM Production will Maintain through 2019

With its second quarter reporting, Anadarko Petroleum Corp. (ticker: APC) reported an average production of 631,000 BOEPD and said it reduced its investments by $300 million for the year. In its Delaware basin assets, Anadarko’s oil production averaged 33,000 BOPD—a …

EnerCom Announces Private Company Presenters and Panel at the Oil & Gas Conference® in Denver

EnerCom Announces Private Company Presenters and Panel at the Oil & Gas Conference® in Denver

Often times it’s the private E&Ps that crack new information at the EnerCom conference. EnerCom is pleased to announce this year’s private company participants:

Fifth Creek Energy

Fifth Creek Energy, headquartered in Denver, Colorado, is focused on developing assets in …

Shale Industry Leaders will Kick Off EnerCom’s The Oil & Gas Conference®

Shale Industry Leaders will Kick Off EnerCom’s The Oil & Gas Conference®

A slate of industry-leading shale producers and service companies are presenting at EnerCom’s 22nd annual The Oil & Gas Conference® on August 13-17, 2017, in Denver, Colo., at the Westin Denver Downtown.

Some of the oil and gas industry …

Exxon Discovers More Oil at Offshore Guyana Block

Exxon Discovers More Oil at Offshore Guyana Block

In its Payara reservoir, offshore of Guyana, ExxonMobil Corp. (ticker: XOM) discovered an additional accumulation of oil. The discovery increased ExxonMobil’s estimated oil in the Payara reservoir to 500 MMBOE, and the total estimated gross recoverable resource in the Stabroek …

Blackbird Energy Adds Montney Rights, Wells

Blackbird Energy Adds Montney Rights, Wells

Calgary-based Blackbird Energy Inc. (ticker: BBI) added additional acreage in its Pipestone/Elmworth location and reported updates to its development program and its expansion of the Eastern Pipestone/Elmworth gathering system.

More in the Montney

Blackbird increased its Pipestone/Elmworth Montney rights to …

EnerCom Conference Update: Private Equity Panel to Give Perspective on Funding Energy Companies

EnerCom Conference Update: Private Equity Panel to Give Perspective on Funding Energy Companies

Kayne Anderson Capital Advisors, Tailwater Capital, and OFS Energy Fund will provide a private equity energy perspective at EnerCom’s The Oil & Gas Conference® 22

Kayne Anderson, Tailwater, and OFS are panelists at the upcoming EnerCom conference in Denver, Colorado—The …

Don’t Miss Earnings Calls During Q2 Reporting Season

Don’t Miss Earnings Calls During Q2 Reporting Season

Oil & Gas 360® has brought its Industry Events Calendar tab back to life—along with the daily notification email of tomorrow’s earnings calls

With the tidal wave of oil and gas earnings hitting the industry in the coming days …

Encana Q2: 25% Sequential Margin Growth from Q1

Encana Q2: 25% Sequential Margin Growth from Q1

Encana Corp. (ticker: ECA) is one of the first E&Ps to report it second quarter results. ECA announced a growth of 25% in its margin from the first to the second quarter of 2017.

Douglas Suttles, President and CEO of …

Jobs Count Stabilizes, Unemployment Drops when Permian Pumps Oil

Jobs Count Stabilizes, Unemployment Drops when Permian Pumps Oil

A report by the Federal Reserve Bank of Dallas indicated that, in May, employment in the Permian basin remained steady, hovering around 158,000 jobs since February. This comes following the period between mid-2014 and early-2016, when Permian employment dropped from …

400 Miles of Oil: EnerCom Conference Presenters will Discuss Eagle Ford Operations, Growth

400 Miles of Oil: EnerCom Conference Presenters will Discuss Eagle Ford Operations, Growth

The Eagle Ford shale play—located in East Texas, extending into Mexico, and spread across approximately 26 Texas counties—is one of the major oil and gas plays in the U.S. The play itself produces tight oil and shale gas out of …

Marcellus Leaders are Presenting at EneCom’s The Oil & Gas Conference® 22 in Denver

Marcellus Leaders are Presenting at EneCom’s The Oil & Gas Conference® 22 in Denver

When Range Resources (ticker: RRC) completed the Renz #1 well in Pennsylvania, the Marcellus play was proven to be a viable resource play for natural gas. That was back in 2004.

Today many of the large U.S. independents operate in …

Completions Remain Below 2014 Levels, Despite D&C Improvements: Seaport Global

Completions Remain Below 2014 Levels, Despite D&C Improvements: Seaport Global

A report by Seaport Global indicated that, since monthly numbers for drilled and completed wells bottomed out in mid-2016, the number of wells drilled and completed has made a significant comeback but have not come close to pre-crash levels in …

EnerCom Conference Presenters will Outline Permian Economics

EnerCom Conference Presenters will Outline Permian Economics

The Permian Basin, the gift that keeps on giving—from an oil and gas standpoint—has spent the last few years as the site of numerous producers’ core acreage. In many instances, lower oil prices and the relative volatility of the oil …

Ameredev II Assembling Prime, Contiguous Acreage in Northern Delaware Basin

Ameredev II Assembling Prime, Contiguous Acreage in Northern Delaware Basin

Ameredev II, backed by a $400 million private equity commitment from EnCap, is currently in the process of building its core acreage in the northern Delaware basin in Lea County, New Mexico. The acreage itself rests along the state line.…

Pan Petroleum Approves Development in Offshore Gabon

Pan Petroleum Approves Development in Offshore Gabon

Pan Petroleum Gabon B.V., a subsidiary of Panoro Energy (ticker: PEN), approved a development program for the development of the Dussafu oilfields in offshore Gabon. Panoro expects that the first phase of development will cost approximately $150 million.

The development …

BAM: It’s Earnings Season (Again)-Q2’17 Estimates

BAM: It’s Earnings Season (Again)-Q2’17 Estimates

Seems like just yesterday it was year-end and Q1 reporting season. But time flies in the public company world.

EnerCom, Inc. has compiled second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 110 …

BOEM Offers GOM Leases at Reduced Royalty Rate for Shallow Water Leases

BOEM Offers GOM Leases at Reduced Royalty Rate for Shallow Water Leases

In a step towards fulfilling the Five-Year National Outer Continental Shelf (OCS) Oil and Gas Leasing Program, U.S. Secretary of the Interior Ryan Zinke made known on July 13th the availability of 75.9 million acres in the Gulf of …

CONSOL Energy Breaking into Separate Coal and Nat. Gas Companies

CONSOL Energy Breaking into Separate Coal and Nat. Gas Companies

CONSOL Energy (ticker: CNX), a Pittsburgh based coal mining and natural gas exploration company plans to split the corporation into two separate companies, one focusing on natural gas exploration and production, the other focusing on coal mining.

The company’s Pennsylvania …

Calgary-based Precision Drilling Corporation (ticker: PDS) announced planned capital expenditures for 2017 of CAD$109 million.

API Clocks 81% Increase in Oil Well Completions

According to a report from the American Petroleum Institute this week, estimated total wells drilled and completed in the second quarter of 2017 increased 62 percent compared to the second quarter of 2016.

This includes a 41 percent increase in …

Energy Technology Disruptors Heading to Denver Aug. 17, 2017

Energy Technology Disruptors Heading to Denver Aug. 17, 2017

Nano-fluids, big data, neighborhood-friendly pressure pumping equipment

A group of industry-leading oil and gas innovators will show their technologies in Denver immediately following The Oil & Gas Conference® at the Westin Hotel Downtown Denver.

EnerCom’s Oilfield Tech & Innovation Day …

Erin Energy Corporation: Drilling to Double Production

Erin Energy Corporation: Drilling to Double Production

Erin Energy Corp. (ticker: ERN), a Houston-headquartered international oil producer, has assets based entirely in sub-Saharan Africa. The company operates in Nigeria, Kenya, Ghana, and Gambia—from approximately 5 million acres.

Erin Energy’s Nigeria operations are offshore with a 100% working …

Halcon Shrinks Williston Footprint to Become Full-On Delaware-Focused Operator

Halcon Shrinks Williston Footprint to Become Full-On Delaware-Focused Operator

Halcon Resources sells operated Williston assets for $1.4 billion

Houston-based Halcon Resources Corp. (ticker: HK) announced Tuesday that the company sold its operated assets in the Willison Basin to an affiliate of Bruin E&P Partners, a portfolio company of Arclight …

Devon Energy Drills Record-Breaking STACK Well

Devon Energy Drills Record-Breaking STACK Well

Devon Energy (ticker: DVN) announced July 11th that it had brought a record setting well to production. The well reached a 24-hour peak production rate of 6,000 BOEPD, 50% of which was oil. The record-setting well, called the Privott …