Exploration and Production (E&P)

BP Moving to Denver from Houston

BP Moving to Denver from Houston

BP seeks access to key producing basins in Rockies, sees move as strategic platform for growth

BP (ticker: BP) is moving a U.S. headquarters from Houston to Denver.

The company said its U.S. Lower 48 onshore Denver headquarters operations will …

Oklahoma’s Osage Nation wants Oil & Gas Development to Hit the Accelerator—Now

Oklahoma’s Osage Nation wants Oil & Gas Development to Hit the Accelerator—Now

Osage Nation’s desire to continue its legacy of oil wealth is being stymied by the U.S. government; tribe wants oil companies to explore new plays, generate new oil production

Oklahoma’s Osage Nation wants Oil & Gas Development to Hit the Accelerator—NowSeizing upon economic growth opportunities associated with their tribal lands has …

Diamondback Energy Doubles Down in the Delaware with $2.4 Billion Acquisition

Diamondback Energy Doubles Down in the Delaware with $2.4 Billion Acquisition

Diamondback Energy acquires Brigham Resources for $2.4 billion

Diamondback Energy (ticker: FANG) announced late Wednesday that the company has entered into a definitive purchase agreement to acquire all leasehold interests and related assets of Brigham Resources Operating, LLC and Brigham …

Callon Petroleum Adds Fourth Core Delaware Position with $615 Million Acquisition

Callon Petroleum Adds Fourth Core Delaware Position with $615 Million Acquisition

New Delaware Basin acreage holds base inventory of 206 net wells and is producing 1.9 MBOEPD; 36% of drilling locations targeting 10,000 foot Wolfcamp laterals

Callon Petroleum Company (ticker: CPE) announced late Tuesday that the company will add 27,552 gross …

Continental Resources Reports Record Well in the STACK

Continental Resources Reports Record Well in the STACK

Continental Resources’ Angus Trust 1-4-33XH produced 4,642 BOE during its 24-hour IP test

Oklahoma City-based Continental Resources (ticker: CLR) announced that its recently completed Angus Trust 1-4-33XH has set a company IP record. The well, which was drilled in the …

Shell Targets Growth from Deep-Water Production, Starts Oil Production from Malikai Tension-Leg Platform in Malaysia

Shell Targets Growth from Deep-Water Production, Starts Oil Production from Malikai Tension-Leg Platform in Malaysia

Shell’s first TLP outside the Gulf of Mexico

  • Malikai employs a tension leg platform (TLP), a vertically floating structure moored by groups of tethers (tendons) at each corner. The groups of tendons are held upright in tension, giving the platform
President Withdraws More of Alaska from Future Oil and Gas Production

President Withdraws More of Alaska from Future Oil and Gas Production

White House  removes 43,000 sq. miles and 3 Tcf of natural gas potential from offshore Alaska

On Nov. 9, the president signed an executive order creating the Northern Bering Sea Climate Resilience Area.

“This area, encompassing 112,300 square miles, represents …

Canadian Natural Resources Raises $527 Million with Cold Lake Pipeline Sale

Canadian Natural Resources Raises $527 Million with Cold Lake Pipeline Sale

Canadian Natural Resources Limited (ticker: CNQ) said it has reached an agreement to sell all of its interests in the Cold Lake Pipeline to Inter Pipeline Ltd.

The transaction consists of the monetization of the Company’s entire 15% ownership interest …

U.S., Canada Getting Back to Work:  North American Rig Count Jumps by 57

U.S., Canada Getting Back to Work: North American Rig Count Jumps by 57

Three U.S. plays are more active than Dec. 2015, Canadian rig count 32% higher than 2015

The number of rigs drilling in North America increased by 57 rigs over the course of the week as oil prices remain above $50 …

Noble Adds Bolt-On Acreage in Delaware Basin

Noble Adds Bolt-On Acreage in Delaware Basin

Transaction Expected to Simplify Long-term Development in Basin

Noble Energy (ticker: NBL) recently announced the closing of a bolt-on acquisition of 7,200 net acres and 2,400 BOEPD of net production in Reeves County, TX. The transaction was announced at the …

Chevron announces $20 Billion Capex in 2017

Chevron announces $20 Billion Capex in 2017

70% of planned upstream projects will generate production in 2 years

California-based Chevron Corp. (ticker: CVX) announced its 2017 capital budget Wednesday.

The company will cut its capex spending for the fourth consecutive year as it focuses on short-cycle, high-return …

Goodrich Petroleum Common Stock Commences Trading On OTCQX

Goodrich Petroleum Common Stock Commences Trading On OTCQX

Goodrich focused on TMS, Haynesville, Eagle Ford

Goodrich Petroleum Corporation’s (OTCQX: GDPP) common stock commenced trading today on the OTCQX market under the trading symbol GDPP.

Goodrich President Robert C. Turnham said in a statement, “We are very pleased to …

Mexico Successfully Completes its First Deepwater GOM Auction

Mexico Successfully Completes its First Deepwater GOM Auction

BHP Billiton wins Trion farmout 

Mexico’s deepwater Gulf of Mexico oil and gas auction, Round 1.4, resulted in eight of the 10 deepwater blocks in the Gulf being awarded to bidders outside of Mexico—a first for a country that has …

Executive Changes at ExxonMobil

Executive Changes at ExxonMobil

Following Tom Walters’ retirement, Neil Duffin will be president of ExxonMobil Production Company; Liam Mallon to be President of ExxonMobil Development Company

Tom Walters, president, ExxonMobil (ticker: XOM) Production Company, has announced his intention to retire from the company after …

Oklahoma is the Most Attractive Place for Oil and Gas Investment: Fraser

Oklahoma is the Most Attractive Place for Oil and Gas Investment: Fraser

Oklahoma finished No. 1 as the best place where ‘policy does not deter upstream investment’

Canada’s Fraser Institute says that Oklahoma has beaten Texas in something else.

According to the Canadian think tank’s annual global survey of petroleum sector executives, …

Bellatrix Sells Non-Core Harmattan Assets for $80 Million

Bellatrix Sells Non-Core Harmattan Assets for $80 Million

Western Canadian Producer Sells Acreage to Focus on Spirit River

Bellatrix Exploration (ticker: BXE) has announced that it will sell certain non-core assets in the greater Harmattan area of Alberta for $80 million. The deal will close at year-end.

The …

PDC Energy Targeting 40% Production Growth in 2017

PDC Energy Targeting 40% Production Growth in 2017

PDC Energy 2017 capital budget and growth both exceed analyst expectations

Denver-based PDC Energy (ticker: PDCE) announced its capital budget and production plans for 2017 on Monday exceeding analyst expectations. According to the company’s press release, PDC plans to …

Chesapeake Selling First of Two Haynesville Positions for $450 Million

Chesapeake Selling First of Two Haynesville Positions for $450 Million

Haynesville transaction takes tally to $2 billion in gross divestitures in 2016 for Chesapeake Energy

Oklahoma City-based Chesapeake Energy Corp. (ticker CHK) announced that the company signed an agreement to sell a portion of its Haynesville shale acreage and producing …

Centennial Resource Development Equity Private Placements Now Total $910 Million

Centennial Resource Development Equity Private Placements Now Total $910 Million

Centennial readies itself for a busy 2017 in the Permian

Centennial Resource Development, Inc. and its affiliates (ticker: CDEV) has entered into agreements to issue and sell $910 million of equity securities to third-party investors in a private placement, including …

After 2 Years of Layoffs, Companies Struggle to Find Qualified Staff

After 2 Years of Layoffs, Companies Struggle to Find Qualified Staff

Layoffs are a recurring nightmare for both employees and employers

Layoffs: oil and gas companies have cut some 350,000 jobs in the downturn, but what happens when oil prices tick up and demand for talent outstrips supply? It’s a recurring …

WildHorse Resource Development IPO Targets $650 Million

WildHorse Resource Development IPO Targets $650 Million

Eagle Ford, North Louisiana Operations

WildHorse Resource Development Corporation (ticker: WRD) will join Centennial Resource Development (ticker: CDEV) and Extraction Oil & Gas (ticker: XOG) as one of 2016’s new public E&P companies. The shares of WildHorse are expected to …

Photo: Free Range Longmont -- Drilling near Mead, Colorado

U.S. Rig Count Approaches 600

Total U.S. rig count climbs up again

The number of rigs continued to rise this week following OPEC’s agreement to cut 1.2 MMBOPD of production.

The total number of active rigs in the United States reached 597 for the week …

The STACK and SCOOP Valued at $40 Billion with Upside

The STACK and SCOOP Valued at $40 Billion with Upside

Oklahoma’s STACK and SCOOP plays are dominated by five players – 2nd most active U.S. plays

With roughly 31% of active rigs in the U.S. focusing on the Permian, it’s easy to say plays like the Delaware Basin have …

SM Energy Closes Williston Divestiture, Bolts-On More Midland Assets

SM Energy Closes Williston Divestiture, Bolts-On More Midland Assets

SM Energy closes $765.8 million Williston Basin divestiture

SM Energy (ticker: SM) announced Thursday after market close that the company has completed its previously announced divestiture of its Williston Basin assets located outside of Divide County, North Dakota to Oasis …

Which Companies Benefit from Canada’s Pipeline Approvals?

Which Companies Benefit from Canada’s Pipeline Approvals?

From  Financial Post

Canadian Natural Resources Ltd., Cenovus Energy Inc., Imperial Oil Ltd. and Suncor Energy Inc. are expected to be the primary beneficiaries of the Canadian government’s approval of Kinder Morgan’s Trans Mountain pipeline and Enbridge’s Line 3 replacement …

Nighthawk Energy: Production and Water Flood Update - Oil & Gas 360

Nighthawk Energy: Production and Water Flood Update

Nighthawk Energy (ticker: HAWK) announced an update to current production levels, water flood injection wells, hedging and Rule 9 waiver.

Production Update

The Company’s production continues to remain strong through the first ten months of 2016. The effects of a …

Centennial Resource Development Equity Private Placements Now Total $910 Million

Centennial Resource Development Acquires 35,000 Delaware Basin Acres

$855 million purchase gives Centennial about 77,000 acres in one of America’s hottest oil plays

Denver-based Centennial Resource Development (ticker: CDEV) announced Monday that it has agreed to acquire 100% of the leasehold interests and related upstream assets from Silverback …

Rigs Continue to Increase Activity

Rigs Continue to Increase Activity

The Marcellus sees the majority of the increased drilling activity last week

The number of rigs actively drilling in the United States continued to climb ahead of Thanksgiving, according to Baker Hughes Industries (ticker: BHI). The company, which releases a …

Whiting Looks to Pay Down Debt, Increase Drilling with Midstream Sale

Whiting Looks to Pay Down Debt, Increase Drilling with Midstream Sale

Whiting Petroleum announces $375 million sale of Bakken midstream assets

Whiting Petroleum Corp. (ticker: WLL) announced that it has entered into an agreement to sell its 50% stake in two Bakken natural gas processing facilities.

The sale of the facilities, …

Concho Resources Increases Delaware Acreage with $430 Million Acquisition

Concho Resources Increases Delaware Acreage with $430 Million Acquisition

Concho Resources doubles long-lateral inventory with Red Hills bolt-on

Concho Resources Inc. (ticker: CXO) announced Monday that the company has added approximately 24,000 gross (16,400 net) acres to its norther Delaware Basin assets through a $430 million deal with an …