Exploration and Production (E&P)

Rosehill Resources Inc. Reports Fourth Quarter and Full Year 2019 Results

Rosehill Resources Inc. Reports Fourth Quarter and Full Year 2019 Results

Rosehill Resources Inc. Reports Fourth Quarter and Full Year 2019 Results

Offshore drillers to see contract cancellations of up to $3 billion until 2021

Offshore drillers to see contract cancellations of up to $3 billion until 2021

Oil&Gas


The estimated contract value in 2020-2021 is $30 billion in total

The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling in particular is among the most …

Canacol Energy Ltd. Announces 4.7 TCF of Gross Mean Un-risked Prospective Conventional Natural Gas Resources in Colombia

Canacol Energy Ltd. Announces 4.7 TCF of Gross Mean Un-risked Prospective Conventional Natural Gas Resources in Colombia

Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX: CNE; OTCQX: CNNEF; BVC: CNEC) is pleased to report on the conventional natural gas prospective resources (resources other than reserves, “ROTR”) for its Esperanza, VIM‐21, VIM‐5, VIM‐19, SSJN-7, …

ERIELL takes measures to prevent the spread of COVID-19 and demonstrates its approach to ESG

ERIELL takes measures to prevent the spread of COVID-19 and demonstrates its approach to ESG

360 NewsWire


Oil & Gas Publishers Note: While the world politics in the oil industry is out of our control, it is important to know that there are regular people around the world trying to earn a living while facing

DXI Energy to Exit the Hydrocarbon Energy Business

DXI Energy to Exit the Hydrocarbon Energy Business

Vancouver, British Columbia–(Newsfile Corp. – April 7, 2020) – DXI Energy Inc. (TSX: DXI) (OTCQB: DXIEF) (“DXI” or the “Company”), an upstream oil and natural gas exploration and production company operating projects in Colorado’s Piceance Basin and the Peace River …

ExxonMobil reduces 2020 Capex by 30%, Cash Opex by 15%; maintains long-term outlook

ExxonMobil reduces 2020 Capex by 30%, Cash Opex by 15%; maintains long-term outlook

360 Feed Wire


IRVING, Texas–(BUSINESS WIRE)–ExxonMobil said today it is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by 15 percent in response to low commodity prices resulting from oversupply and demand

Apache announces significant oil discovery offshore Suriname at Sapakara West-1

Apache announces significant oil discovery offshore Suriname at Sapakara West-1

energy-pedia


Apache Corp and Total have announced a significant oil discovery at the Sapakara West-1 well drilled offshore Suriname on Block 58. The well was drilled using the Noble Sam Croft with Apache as operator holding a 50% working …

April 4, 2020 - 7:06 am Crude Oil News, Exploration and Production (E&P)
Cimarex Energy Co. Announces Format Change for 2020 Annual Meeting of Shareholders

Cimarex Energy Co. Announces Format Change for 2020 Annual Meeting of Shareholders

DENVERApril 2, 2020 /PRNewswire/ — Cimarex Energy Co. (NYSE: XEC) (“Cimarex” or the “Company”) announced today that, due to the current situation regarding the public health impact of the COVID-19 pandemic and limitations within the State of Oklahoma

Source: Reuters

Oil falls towards $25 as oversupply fears mount with U.S. inventory rise

Reuters


LONDON – Oil fell towards $25 a barrel on Wednesday, within sight of its lowest in 18 years, as a report showing a big rise in U.S. inventories and a widening rift within OPEC heightened oversupply concerns.

Pledges of …

Denbury Resources provides operational and financial update

Denbury Resources provides operational and financial update

Denbury Resources provides operational and financial update

Range Announces Updated 2020 Capital Program

Range Announces Updated 2020 Capital Program

FORT WORTH, Texas, March 31, 2020 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE:  RRC) today announced that it has reduced its 2020 all-in capital budget from $520 million to $430 million.  Range still expects to maintain production at approximately 2.3 …

Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Provides Supplementary Update on 2020 Hedge Position

Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Provides Supplementary Update on 2020 Hedge Position

MIDLAND, Texas, March 31, 2020 (GLOBE NEWSWIRE) — Viper Energy Partners LP (NASDAQ: VNOM) (“Viper” or the “Company”) today provided an update to its oil hedge position for the remainder of 2020. The Company has now hedged the majority of …

Diamondback Energy, Inc. provides revised 2020 guidance and updated hedge positions.

Diamondback Energy, Inc. provides revised 2020 guidance and updated hedge positions.

MIDLAND, Texas, March 31, 2020 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today provided revised full year 2020 guidance and updated hedge positions.

Source: Houston Chronicle

Pipeline operators ask oil companies to stop production as storage fills up

Houston Chronicle


A new problem attributed to the coronavirus pandemic is slowly brewing out in the oil patch.

Pipeline operators with full storage tanks are asking some Texas oil companies to stop production as the ongoing price war between Russia …

Source: Reuters

U.S. crude dips below $20 as lockdowns wipe out demand

Reuters


LONDON – Oil prices fell sharply on Monday, with U.S. crude briefly dropping below $20 and Brent hitting its lowest in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could …

Pioneer Natural Resources CEO warns independent oil companies could go bankrupt if production continues amid coronavirus

Pioneer Natural Resources CEO warns independent oil companies could go bankrupt if production continues amid coronavirus

CNBC


Oil & Gas 360 Editor’s Note: Excellent CNBC Fast Money Interview with Scott Sheffield, CEO, Pioneer Natural Resources. Scott talks about several key points:

  • He has asked President Trump to get involved with the price war between Russia and
Source: Houston Chronicle

Record 5.0-magnitude earthquake hits near Permian Basin town

Houston Chronicle


A record-setting 5.0-magnitude earthquake hit near the Permian Basin town of Orla, Texas, on Thursday morning.

U.S. Geological Survey officials say the quake occurred at 10:16 a.m. about 16 miles southwest of Orla in a rural area off …

Source: Houston Chronicle

Oxy enacts pay cuts amid deeper budget cuts

Houston Chronicle


Houston exploration and production company Occidental Petroleum is enacting across pay cuts after making a second round of budget cuts as crude oil prices remain stuck at record lows.

Occidental plans to cut $2.5 billion from its capital …

Source: dallasfed.org

U.S. energy sector cutting spending, jobs amid pandemic: Dallas Fed survey

Reuters


The U.S. energy sector is slashing capital spending and jobs as business activity plunged and the outlook has turned “extremely pessimistic” amid the coronavirus pandemic, a survey by the Dallas Federal Reserve Bank of oil and gas companies showed …

Source: CNBC

Chevron CEO says the dividend is the company’s No. 1 priority and is ‘very secure’

CNBC


Chevron shares surged Tuesday after the company announced cost-cutting measures, but promised not to slash its dividend despite mounting pressure from falling crude prices.

“Our dividend is our number one priority and it’s very secure,” Chevron CEO Michael Wirth …

Thirteen suspected Covid-19 cases on Taqa North Sea platforms

Thirteen suspected Covid-19 cases on Taqa North Sea platforms

Energy Voice


Taqa said that eight crew members are currently under self-isolation on its Cormorant Alpha and North Cormorant platforms.

It added that a further five workers have show “minor symptoms” and are nearing the end of their self-isolation period.…

March 24, 2020 - 7:00 am Energy News, Exploration and Production (E&P), Offshore
Source: Houston Chronicle

Occidental, Icahn may be near deal to end boardroom battle

Houston Chronicle


Activist investor Carl Icahn is nearing a truce with Occidental Petroleum Corp. that will see three new directors appointed to the oil company’s board, according to people familiar with the matter.

The deal would also see the billionaire …

Diamondback Energy cuts budget again as oil prices continue to sink

Diamondback Energy cuts budget again as oil prices continue to sink

Houston Chronicle


Midland exploration and production company Diamondback Energy is cutting its 2020 drilling budget for a second time this month as crude oil continue to fall to nearly 20-year lows.

In a statement issued late last week, Diamondback has …

Talos Energy Announces Additional Budget Reductions And Provides Updated 2020 Guidance

Talos Energy Announces Additional Budget Reductions And Provides Updated 2020 Guidance

HOUSTONMarch 23, 2020 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced updated full year 2020 financial guidance, inclusive of $170.0 million of reductions in capital, operating and G&A expenses. The Company will continue …

Permian operators slash 2020 plans as oil market craters

Permian operators slash 2020 plans as oil market craters

Enverus

Oil & Gas 360 Publishers Note: This blog from Erin Faulkner at Enverus is an excellent summary of the  top operators in the Permian and their financial updates. Enverus has over 1,700 employees and has customers in over 50

GeoPark announces plan ahead for new environment and revisions in 2020 work program

GeoPark announces plan ahead for new environment and revisions in 2020 work program

Maintaining Self-funded Work Programs, Financial Flexibility & Balance Sheet Strength

GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, …

March 19, 2020 - 4:37 pm ESG, Exploration and Production (E&P), Press Releases
Devon Energy Provides Hedge Position Update

Devon Energy Provides Hedge Position Update

OKLAHOMA CITY, March 19, 2020 (GLOBE NEWSWIRE) — Devon Energy Corp. (NYSE: DVN) today provided an update regarding its oil and natural gas hedge position. The company has approximately 80 percent of its estimated oil production in 2020 protected at …

Diamondback Provides Supplemental Operational Update

Diamondback Provides Supplemental Operational Update

MIDLAND, Texas, March 19, 2020 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today provided an update to the operational press release it issued on March 9, 2020, as well as an update to the Company’s …

ConocoPhillips to reduce capex, output and share repurchase program

ConocoPhillips to reduce capex, output and share repurchase program

Reuters


ConocoPhillips, the largest U.S. independent oil producer, on Wednesday pared its proposed spending, production and share buybacks for the year, seeking to prevent an oil-price rout from turning into pool of red ink.

Conoco cut its 2020 budget by …

Cimarex Announces Reduction in 2020 Capital Plans

Cimarex Announces Reduction in 2020 Capital Plans

DENVERMarch 17, 2020 /PRNewswire/ — Cimarex Energy Co. (NYSE: XEC) today announced that, due to the recent drop in oil prices, it expects a 40-50 percent reduction in its 2020 capital investment program from its original guidance of …

March 17, 2020 - 6:17 pm Exploration and Production (E&P), Press Releases