Exploration and Production (E&P)

Algeria to Spend $64 Billion Upstream to Reverse Production Declines in the next Three Years

Algeria to Spend $64 Billion Upstream to Reverse Production Declines in the next Three Years

70% of Algeria’s investment program over the next three years targeted at upstream activities

Algeria’s national oil and gas company, Sonatrach, plans to spend $64 billion, or 70% of its total investment program from 2015 to 2018, in upstream activities …

Oil Prices Recover 2.2%, but Hold Near Multi-Month Lows

Oil Prices Recover 2.2%, but Hold Near Multi-Month Lows

Weaker dollar helps oil prices find $46

West Texas Intermediate prices gained 2.2%, or $1, Tuesday after loses Monday, rising to $46.17 per barrel on the New York Mercantile Exchange. The recovery was boosted by a weaker dollar, making oil …

Range Resources Maintains Production Growth, Strong Inventory of Wells Awaiting Completion by Yearend

Range Resources Maintains Production Growth, Strong Inventory of Wells Awaiting Completion by Yearend

Number of Oncoming Pipeline Projects in Place through 2017

Range Resources Corporation (ticker: RRC), one of the largest exploration and production companies in the Appalachia region, increased volumes on a quarter-over-quarter basis by 3% in its Q2’15 earnings released on …

EnerCom’s 20th Anniversary The Oil & Gas Conference® Begins Aug. 16

EnerCom’s 20th Anniversary The Oil & Gas Conference® Begins Aug. 16

North America’s Largest Energy-Focused Investor Conference Comes to Denver Aug. 16-20

  • Conference presenters are operating in more than 40 countries on six continents 

  • Enterprise values of presenting companies range from $160 billion to $9 million

  • CNBC and Fox Business to

Oil Rigs Climb, Oil Prices Dip, Production Already Rolled Over

Oil Rigs Climb, Oil Prices Dip, Production Already Rolled Over

Rig count for the week ended July 31, 2015

The total number of rigs actively drilling for oil or natural gas in the United States declined this week to 874, down two from last week. The number of rigs drilling …

Hatch, Barrasso and Enzi Introduce Senate Bill to Stop Frac Regulation Duplicity

Bill to End Crude Export Ban Passes ENR Committee 12-10, Faces Full Senate

Senate Committee on Energy and Natural Resources seeks to end crude export ban

The U.S. Senate Committee on Energy and Natural Resources (ENR) passed a bill that would end the ban on the export of U.S. crude oil yesterday by …

Post Sanctions Iran: a 5 MMBOPD Reality Check

Post Sanctions Iran: a 5 MMBOPD Reality Check

P5+1 used financial isolation to force Iran to nuclear negotiation table

A sanctions regime was put in place against Iran starting in 2005 when the international community found that the Middle Eastern country was not in compliance with its obligations …

WTI Prices Up as DOE Reports Crude Draw

WTI Prices Up as DOE Reports Crude Draw

WTI closed higher for the first time in five sessions yesterday

The front month West Texas Intermediate contract is up $1.25 from yesterday’s close of $47.98 per barrel. The 2.3% increase in WTI front month contracts marked the first time …

By the Numbers:  Goodrich Petroleum Deals Portion of Eagle Ford Assets; Retains Future EF Upside and Provides Capital Liquidity

By the Numbers:  Goodrich Petroleum Deals Portion of Eagle Ford Assets; Retains Future EF Upside and Provides Capital Liquidity

Acreage Value Increase of 441% Since Initial Purchase in 2010

Goodrich Petroleum (ticker: GDP) sold its proved reserves and approximately 13,000 net acres in the Eagle Ford Shale for $118 million to an undisclosed buyer, the company said in a …

Marcellus, Utica Driving 85% of Shale Gas Growth Since 2012

Marcellus, Utica Driving 85% of Shale Gas Growth Since 2012

Per well efficiencies up 2.6x in the Marcellus and 22.3x in the Utica since 2012

EIA Marcellus and Utica Natgas Growth

Increased productivity of natural gas wells in the Marcellus and Utica Shale basins is responsible for 85% of increased natural gas production in the United …

Statoil Julius Discovery Holds 15 to75 MMBOE of Recoverable Gas and Condensate

Statoil Julius Discovery Holds 15 to75 MMBOE of Recoverable Gas and Condensate

Statoil continues to delineate resources near King Lear discovery offshore in Norway

Norway’s Statoil (ticker: STO) announced its 2/4-23S well (Julius) discovered gas and condensate in the Ula formation, offshore Norway in the North Sea, southeast of Stavanger. STO estimates …

Cabot Oil & Gas Reduces Costs per Mcfe by 3%

Cabot Oil & Gas Reduces Costs per Mcfe by 3%

Cabot remains focused on cutting costs

Houston-based Cabot Oil & Gas (ticker: COG) reported its second quarter results today, showing that the company continues to focus on cutting costs. Cabot continued to reduce its capital spending in the Marcellus.

Cabot …

Rig Count Makes Biggest Gains Yet in 2015

Rig Count Makes Biggest Gains Yet in 2015

Overall rig counts up 2% on additions in the oil patch

Overall rig counts reached a nearly two-month high this week, with Baker Hughes (ticker: BHI) reporting 876 rigs active in the United States for the week ended July 24, …

Source: Sweetcrudereport.com

Oil Prices Below $50: Continued Concerns of Oversupply

WTI sub-$50 first time since April

Oil prices closed below the $50 per barrel mark Wednesday for the first time since April. West Texas Intermediate finished the day at $49.19 per barrel on July 22, 2015. The last time prices …

A rig site in North Dakota

Black Ridge Oil & Gas Secures Equity Joint Venture to Develop Williston Basin

Merced Capital Targets Initial Investment of $50 Million in Its First Oil and Gas Venture

On July 23, 2015, Black Ridge Oil & Gas (ticker: ANFC), a Bakken/Three Forks E&P, announced a $50 million initial target investment from Merced Capital

Gazprom Gas Production Down 19% Year-over-Year

Gazprom Gas Production Down 19% Year-over-Year

Russia’s gas giant faces falling demand at home and abroad, lowest output in company history

Gazprom (ticker: OGZPY), Russia’s state-owned gas giant, is seeing rapidly declining production as demand for its gas falls both at home and abroad. The company’s …

Chesapeake Energy Erases Dividend, Sells Non-Core Properties in Cost-Cutting Moves

Chesapeake Energy Erases Dividend, Sells Non-Core Properties in Cost-Cutting Moves

Chesapeake Energy (ticker: CHK), the second largest producer of natural gas in the United States, altered its financial strategy via a company news release on July 21, 2015. The announcement included a handful of cash-saving moves, ranging from internal budget …

Economic Minister of Israel Agrees to Natural Gas Deal if Parliament Approves

Economic Minister of Israel Agrees to Natural Gas Deal if Parliament Approves

Natural gas remains a hot topic in Israel

The chairman of the Israeli Parliament’s Finance Committee, Eitan Cabel, said that Economy Minister Aryeh Deri has agreed to sign off on a proposed natural gas plan, but only if it is …

Notes from the Road: With Manitok Energy in Dallas and Houston

Notes from the Road: With Manitok Energy in Dallas and Houston

Conventional E&P Uses Scale, Quick Payouts to Grow in Canada 

EnerCom, Inc. arranged meetings with institutional investors for Manitok Energy (ticker: MEI) during a non-deal roadshow in Dallas and Houston on July 14 and 15, 2015.

Click here for the

VAALCO Energy Reports First Production from SEENT Platform Offshore Gabon

VAALCO Energy Reports First Production from SEENT Platform Offshore Gabon

VAALCO Energy (ticker: EGY), a Houston-based exploration and production company with operations in West Africa, has commenced production from its Southeast Etame/North Tchibala (SEENT) platform offshore Gabon. The Southeast Etame 2-H well returned 3,400 BOPD and is not producing any …

Whiting Petroleum Raises 2015 Capex by $300 Million

Whiting Petroleum Raises 2015 Capex by $300 Million

Whiting increases capex

Whiting Petroleum (ticker: WLL) announced that it will increase its capital expenditures for 2015 to $2.3 billion, $300 million more than originally planned, on the back of strong well results. According to a company press release, …

ConocoPhillips Increases Dividend, Cuts Deepwater Exploration

ConocoPhillips Increases Dividend, Cuts Deepwater Exploration

COP increases quarterly dividends by $12.3 million

ConocoPhillips (ticker: COP) announced that it will increase its quarterly dividend to $0.74 per share from $0.73 per share, according to the company’s press release. The dividend hike is expected to cost …

Eagle Ford Rigs Fall Below 100, Canada Continues Gains

Eagle Ford Rigs Fall Below 100, Canada Continues Gains

The Eagle Fords rig count fell below 100

The number of rigs drilling in the Eagle Ford fell below 100 for the first time since at least February 2011, according to information from Baker Hughes (ticker: BHI). The Eagle Ford …

Blackbird Energy: Drilling the Liquids-Rich Window of Canada’s Montney

Blackbird Energy: Drilling the Liquids-Rich Window of Canada’s Montney

Canada’s Montney shale play, which stretches from Western Alberta northwest into British Columbia, has traditionally been gas focused, but a liquids- and condensate-rich window in the Montney has been attracting the attention of major names in the oil and gas …

Bam! It’s Earnings Season Again – Q2’15 Estimates

Bam! It’s Earnings Season Again – Q2’15 Estimates

EnerCom, Inc. compiled second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 224 E&P and OilService companies in our database.

Click here for the full chart of estimates.

The median OilServices company earnings …

Penn Virginia Pads Balance Sheet in $75 Million Non-core Asset Sale

Penn Virginia Pads Balance Sheet in $75 Million Non-core Asset Sale

On July 15, 2015, Penn Virginia (ticker: PVA) announced the sale of its East Texas assets to an undisclosed buyer for gross proceeds of $75 million. The sale is expected to close by August 2015 and includes approximately 33,400 net …

Map: World Review

12 of 14 Blocks Go Unsold in Mexico’s First Oil & Gas Auction

American Majors Avoid Shallow Water Round

Mexico offered its first auction for oil and gas rights in 77 years today.

It presented a total of 14 blocks in the shallow Gulf of Mexico. A handful of bids were received but …

Sanchez Energy on the Rise in the Eagle Ford Shale

Sanchez Energy on the Rise in the Eagle Ford Shale

Quarter-over-quarter daily production increases by 19%, current volumes highest in company history

Increased efficiency, shorter drilling days and wells exceeding type curves prompted Sanchez Energy (ticker: SN) to upwardly revise guidance for the second straight quarter, the company said in …

WPX Energy Adds Permian Basin to Portfolio with $2.75 Billion Acquisition

WPX Energy Adds Permian Basin to Portfolio with $2.75 Billion Acquisition

WPX Establishes Fourth Core Area

Wells Provide 30% Return at $60/barrel

WPX Energy (ticker: WPX) is moving into the most prolific oil play in the United States.

On July 14, 2015, the Tulsa-based company announced the acquisition of privately held …

Source: theiet.org

Iran Deal Reached: Predictions on Added Crude Exports Range from 400-800 MBOPD

Opinions vary widely on how much Iranian crude will hit the market and when we can expect to see it

The much anticipated deal between Iran and the five permanent members of the U.N. Security Council, plus Germany (P5+1), was …