Exploration and Production (E&P)

Cimarex Announces 2020 Capital Investment Plans and Production and Expense Guidance

Cimarex Announces 2020 Capital Investment Plans and Production and Expense Guidance

DENVERFeb. 19, 2020 /PRNewswire/ —

  • Total capital investment estimated to be $1.25 – 1.35 billion
    • Includes drilling and completion capital of $0.95 – 1.05 billion
  • Generates nine percent oil growth at the midpoint
  • Free cash flow positive in
Source: Houston Chronicle

Texas oil production expected to rise, but at a slower pace

Houston Chronicle


Texas oil production is expected to rise each month this year but the growth rate is expected to slow, Norwegian energy research firm Rystad Energy said Tuesday in a report.

Oil production from Texas wells increased to an …

PetroTal Announces 2019 Year-End Oil Reserves and Operational Update

PetroTal Announces 2019 Year-End Oil Reserves and Operational Update

PetroTal Announces 2019 Year-End Oil Reserves and Operational Update

Precision Drilling Corporation Announces 2019 Fourth Quarter and Year End Unaudited Financial Results

Precision Drilling Corporation Announces 2019 Fourth Quarter and Year End Unaudited Financial Results

Precision Drilling Corporation Announces 2019 Fourth Quarter and Year End Unaudited Financial Results

Oil giant BP is latest to pledge net zero emissions by 2050

Oil giant BP is latest to pledge net zero emissions by 2050

Oil giant BP is latest to pledge net zero emissions by 2050

Noble Corporation plc Announces Drilling Services Agreement With ExxonMobil In The Guyana-Suriname Basin

Noble Corporation plc Announces Drilling Services Agreement With ExxonMobil In The Guyana-Suriname Basin

Noble Corporation plc Announces Drilling Services Agreement With ExxonMobil In The Guyana-Suriname Basin

February 12, 2020 - 10:15 am Exploration and Production (E&P), Offshore, Press Releases
Kosmos Energy Increases Reserves for Seventh Consecutive Year

Kosmos Energy Increases Reserves for Seventh Consecutive Year

Kosmos Energy Increases Reserves for Seventh Consecutive Year

Hunt Oil seeks latest fortune in Permian Basin

Hunt Oil seeks latest fortune in Permian Basin

Chron


A storied oil company that got its start in East Texas is seeking its latest fortune in the Permian Basin of West Texas.

Hunt Oil seeks latest fortune in Permian Basin-oilandgas360Founded in in 1934, Hunt Oil Co. drilled its first oil wells in the Piney Woods …

GEOPARK announces record 2019 certified 2P reserves of 197 MMBOE valued at NPV10 of $2.8 billion

GEOPARK announces record 2019 certified 2P reserves of 197 MMBOE valued at NPV10 of $2.8 billion

GeoPark


Oil & Gas 360 Publishers Note: GeoPark will be presenting at EnerCom Dallas at 10:05 Tuesday Febuary 11th. The presentation will be live streamed at enercomdallas.com

IN COLOMBIA: 1P, 2P AND 3P RESERVE REPLACEMENT RATIOS OF 200+%
AND

Chevron prepared for current energy challenge: CEO

Chevron prepared for current energy challenge: CEO

KallanishEnergy


Oil and natural gas stocks are under intense scrutiny/criticism, particularly by younger generations, as the sustainable investing movement gains momentum, but it’s unfair to compare the oil sector to other much-maligned areas of the market given the role oil …

Whiting Oil and Gas seeks to expand crude oil conditioning in Mountrail County

Whiting Oil and Gas seeks to expand crude oil conditioning in Mountrail County

Williston Harold


Whiting Oil and Gas is seeking permission to expand its Lake Robinson Oil Conditioning Facility from 45,000 barrels per day to 65,000 barrels of crude per day.

The $6 million facility is located 7.9 miles northeast of New

Source: Reuters

Oil rebounds on potential for further OPEC+ supply cuts

Reuters


LONDON  – Oil prices clawed back ground on Tuesday on hopes for additional production cuts from OPEC and its allies to offset any potential demand drop triggered by the coronavirus outbreak.

Brent crude was up 93 cents, or 1.7%, …

GEOPARK announces new gas field discovery CHILE

GEOPARK announces new gas field discovery CHILE

Oil and Gas 360


Oil and Gas 360 Publishers Note: GeoPark is presenting at EnerCom Dallas The Energy Investment Conference on Wednesday, Febuary 12, 2020 at 10:05am (MST). Please sign up to attend, all of our presentations will be streamed

Source: CNBC

Oil falls more than 2%, sinking to lowest level in more than 1 year

CNBC


Oil prices fell more than 2% on Monday, dragged down by concern over demand in China after the coronavirus breakout, though the possibility of deeper crude output cuts by OPEC and its allies offered some price support.

U.S. West

Source: Houston Chronicle

2 giants with 2 strategies that aren’t working

Houston Chronicle


Everyone from environmentalists to investors is beating up on fossil fuels, and American energy giants Exxon Mobil Corp. and Chevron Corp. are taking increasingly diverging approaches as they try to weather the storm.

The problem is, neither strategy …

Source: Houston Chronicle

Chevron, Petrobras plan to sell deepwater Brazilian field

Houston Chronicle


Chevron and Brazil’s state oil company plan to sell their 100 percent ownership stake of a key deepwater field offshore of South America’s largest country as they both seek to sell assets to cut costs.

The deepwater Papa …

Source: Reuters

Imperial Oil’s quarterly profit beats estimates on higher crude prices

Reuters:


Canada’s Imperial Oil Ltd (IMO.TO) edged past quarterly profit estimates on Friday, benefiting from a recovery in Canadian crude prices following Alberta’s mandated production cuts.

The company, which recently appointed Exxon veteran Brad Corson as CEO, said …

Source: Houston Chronicle

Phillips 66 profit cut by more than half in 4th quarter

Houston Chronicle


Houston refining and pipeline company Phillips 66 on Friday reported a $689 million fourth-quarter profit, 51 percent less than the same period in 2018.

The fourth quarter performance resulted in Phillips 66 closing 2019 with a nearly $3.7 …

Source: CNBC

Chevron posts $6.6 billion loss in the fourth quarter

CNBC


Chevron on Friday posted a $6.6 billion loss in the fourth quarter due to $10.4 billion worth of write-offs related to shale gas production in Appalachia and deep-water projects in the Gulf of Mexico. In December, the company warned

Source: Houston Chronicle

Exxon Mobil’s profit tumbled 30% in 2019, 5% in final quarter

Houston Chronicle


Exxon Mobil’s fourth-quarter profit declined by 5 percent, capping a year in which earnings plunged by more than 30 percent.

The company’s $5.7 billion profit in the fourth quarter lagged the previous year on weaker sales and pricing …

Source: Reuters

Shell reins in share buybacks after profit halves

Reuters


LONDON – Royal Dutch Shell is reining in its vast $25 billion share buyback programme after lower oil and natural gas prices halved its profit in the last three months of 2019 and sent its shares to their lowest …

Source: Houston Chronicle

Witness in Shell-Eni trial fails to back corruption charges

Houston Chronicle


A key witness failed to corroborate corruption allegations at the heart of the trial of Eni SpA and Royal Dutch Shell Plc over a Nigerian oil deal, potentially bolstering the companies’ defense in one of the industry’s biggest …

Source: Reuters

Yemen’s Houthis say they fired at Aramco, other Saudi targets

Reuters


DUBAI – Yemen’s Iran-aligned Houthi movement said on Wednesday it had fired rocket and drone strikes at Saudi targets including Aramco oil facilities, the group’s first claim of such attacks since it offered to halt them four months ago.…

Hess Reports Estimated Results for the Fourth Quarter Of 2019

Hess Reports Estimated Results for the Fourth Quarter Of 2019

Hess Reports Estimated Results for the Fourth Quarter Of 2019

Gran Tierra Energy Inc. Announces 2019 Year-End Reserves and Operational Update

Gran Tierra Energy Inc. Announces 2019 Year-End Reserves and Operational Update

Gran Tierra Energy Inc. Announces 2019 Year-End Reserves and Operational Update

January 28, 2020 - 5:05 pm Exploration and Production (E&P), Press Releases
Source: Reuters

Venezuela’s PDVSA, in default, says total debt remained unchanged in 2019

Reuters


CARACAS – Venezuela’s state-run oil company PDVSA said its financial debt fell less than 0.1% in 2019 from the prior year to some $34.5 billion, though it remained in default on its bonds as sanctions freeze it out of …

ExxonMobil Ups Guyana Recoverable Resources to More Than 8 Billion Oil-Equivalent Barrels, Makes Discovery at Uaru

ExxonMobil Ups Guyana Recoverable Resources to More Than 8 Billion Oil-Equivalent Barrels, Makes Discovery at Uaru

ExxonMobil Ups Guyana Recoverable Resources to More Than 8 Billion Oil-Equivalent Barrels, Makes Discovery at Uaru

Source: CNBC

Norwegian energy major Equinor to run ship fitted with ammonia fuel cells

CNBC


The European Union has awarded 10 million euros ($11.05 million) in funding to a scheme that is aiming to install an ammonia-powered fuel cell on a ship.

The beneficiary of the money, the ShipFC project, is a consortium of

Source: lilisenergy.com

Lilis Energy receives extension on initial borrowing base deficiency payment

Oil and Gas 360


FORT WORTH, Texas, Jan. 24, 2020 (GLOBE NEWSWIRE) — Lilis Energy, Inc. (NYSE American: LLEX) (the “Company”), an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced …

Source: Reuters

Exclusive: Guyana opening search for oil firm to trade its crude – official

Reuters


GEORGETOWN – Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the director of the Department of Energy, Mark Bynoe, said in …