Exploration and Production (E&P)

Crestone Peak’s “Re-entry into Boulder County” Takes Another Step Forward

Crestone Peak’s “Re-entry into Boulder County” Takes Another Step Forward

Crestone Peak submits 4th Draft of Comprehensive Drilling Plan to COGCC

Crestone Peak Resources, the privately held DJ Basin operator that is developing Encana’s former assets in in Northern Colorado, is getting a little closer to planting its flag …

Carl Icahn Will Nominate Full Sandridge Board Slate

Carl Icahn Will Nominate Full Sandridge Board Slate

From Bloomberg

  • Billionaire investor willing to make all-cash offer for firm
  • Icahn says he has ‘grave concerns’ about the current board

Carl Icahn plans to nominate a full slate to the board of Sandridge Energy Inc. that would commit to …

Pro Forma Halcon Resources Overview, Mar. 2018

Halcón Resources Closes $200 Million West Quito Draw Acquisition

Halcón Resources Announces the Closing of the West Quito Draw Acquisition, the Expiration of its Monument Draw East Option and Other Activities

Courtesy of EQT

Midstates Petroleum Sells Anadarko Basin Producing Properties for $58 Million

Midstates Petroleum Announces Agreement for Sale of Anadarko Basin Producing Properties for $58 Million

What’s Worth More to the State of Texas—Land or Oil?

SM Energy Divestment of $792 Million Non-Core Assets Will Drive 30% Debt Reduction

Out of the Williston

Midland- and Eagle Ford-focused SM Energy Company (ticker: SM) sold its remaining assets in the Williston Basin and third-party operated assets in Upton County, Texas. The combined sale generated $292.3 million, but the buyers have not …

Crescent Point Energy Grows USA Operations

Crescent Point Energy Grows USA Operations

Crescent Point Energy Corp. (ticker: CPG) said its Q1 2018 production and cash flow from its U.S. assets have grown year-over-year by approximately 60% and 175%, respectively. Additionally, the company said its land position in the east shale Duvernay light …

WPX Energy Commences $500 Million Offer for Senior Notes

WPX Energy Commences $500 Million Offer for Senior Notes

WPX Energy Commences Tender Offers for Senior Notes due 2020, 2022 and 2023

PT Petroleum’s Orange 6091C Well: 100 MBbls in First 140 Days

PT Petroleum’s Orange 6091C Well: 100 MBbls in First 140 Days

PT Petroleum, LLC Announces Wolfcamp C Results in Midland Basin

Unit Corporation Completes $300 Million Sale

Unit Corporation Completes $300 Million Sale

Unit Corporation Completes the Sale of 50% Interest in Midstream Subsidiary

Yuma Energy Reduces Debt, Completes First Permian Horizontal

Yuma Energy Reduces Debt, Completes First Permian Horizontal

Yuma Energy, Inc. (ticker: YUMA) reported a net loss attributable to common stockholders of $6.8 million, or $(0.46) per share for 2017. Net average production for the year-ended December 31, 2017 was 2,454 BOEPD, or 34.8% higher than the prior …

COGCC Full House, Mar. 19, 2018

Martinez v. COGCC: Opening Briefs at the Colorado Supreme Court

Case background

The beginning of the Martinez v. COGCC case dates back to November 15, 2013, when petitioners Xiuhtezcatl Martinez, Itzcuahtli Roske-Martinez, Sonora Brinkley, Aerielle Deering, Trinity Carter, and Emma Bray, minors appearing by and through their legal guardians Tamara …

Bellatrix Starts Phase 2 at Adler Flats

Bellatrix Starts Phase 2 at Adler Flats

More than doubling throughput capacity, Bellatrix Exploration Ltd.’s (ticker: BXE) O’Chiese Nees-Ohpawganu’ck deep-cut gas plant at Alder Flats can now process 230 MMcf/d. The Adler Flats Plant was fully commissioned in mid-March and began selling volumes on March 19, 2018. …

PetroShale Ups Production to 5,300 BOEPD, Adds Acreage

PetroShale Ups Production to 5,300 BOEPD, Adds Acreage

PetroShale Announces Significant Production Increase and Core Area Property Acquisition

Lackawana Energy Center Project Rendering. Source: http://lackawannaenergy.com/

Encana, Keyera Deal Will Add 33,000 Barrels of Montney Condensate Processing Capacity at Pipestone

Deal struck between Encana and Keyera Partnership adds 33,000 barrels of raw condensate processing capacity and 170 MMcf/day of net inlet gas processing; Keyera will own the facilities at Pipestone

Encana Corporation (ticker: ECA) and Keyera Partnership have reached an …

Brazil’s 15th Offshore Bidding Round Sets a Record

Brazil’s 15th Offshore Bidding Round Sets a Record

Brazil’s 15th Bidding Round raised over USD$2.4 billion – this sets a new record for Brazil’s auctions. According to the Brazilian National Petroleum Agency, the 15th round will generate investments of USD$361.6 million in the first/exploration phase of the concession …

Strategic Oil & Gas Ltd. Reports 2017 Results

Strategic Oil & Gas Ltd. Reports 2017 Results

Northern Alberta operator Strategic Oil & Gas Ltd. (ticker: SOG) has posted Q4 and full year 2017 results. The company had a net loss of $41.3 million, or $(0.89) per share in Q4 2017. For 2017, Strategic had a net …

Closed and Closed: WildHorse, WPX Divest Assets

Closed and Closed: WildHorse, WPX Divest Assets

WPX Energy (ticker: WPX) has closed the San Juan Basin oil play sale to Enduring Resources IV, LLC for $700 million. A significant portion of the proceeds are slated for debt reduction, WPX said, and the company now believes it …

Earthstone Energy Makes Executive Promotions

Earthstone Energy Makes Executive Promotions

Midland Basin operator Earthstone Energy, Inc. (ticker: ESTE) has initiated three executive promotions.

Robert J. Anderson has been promoted to president of the company, effective immediately. Anderson has served as Earthstone’s EVP Corporate Development and Engineering since 2014.

Anderson, a …

Contango Sells Eagle Ford Assets

Contango Sells Eagle Ford Assets

Contango Announces Sale of Certain Non-Core Assets

Unit Corp Accelerates Drilling Program with $300 Million Sale

Unit Corp Accelerates Drilling Program with $300 Million Sale

Divesting 50% Interest in Superior Pipeline

Unit Corporation (ticker: UNT) has agreed to sell a fifty percent equity interest in its wholly owned subsidiary, Superior Pipeline Company, LLC for cash proceeds of $300 million. The purchaser, SP Investor Holdings, LLC, …

Courtesy of PetroShale

Alta Mesa Resources Expects $725-$800 Million 2018 CapEx

Alta Mesa Resources, Inc. (ticker: AMR) and its wholly owned subsidiaries, Alta Mesa Holdings, LP (AMHLP) and Kingfisher Midstream, LLC, have released financial results, CapEx guidance and other updates.

2018 CapEx

Alta Mesa’s total capital expenditures for 2018 are expected …

Lonestar Resources Plans 50% Production Growth in 2018

Lonestar Resources Plans 50% Production Growth in 2018

Lonestar Resources US Inc. (ticker: LONE) reported a net loss attributable to common stockholders of $13.7 million, or $(0.58) per share for Q4 2017. For 2017, the company had a net loss of $42.6 million, or $(1.92) per share. Net …

Concho Announces Largest Permian Deal Ever

Concho Announces Largest Permian Deal Ever

$9.5 billion purchase of RSP Permian

M&A activity in the Permian has come roaring back, with Concho Resources (ticker: CXO) announcing the biggest deal ever seen in the basin.

Concho will acquire RSP Permian (ticker: RSPP) in an all stock …

Frontera Drums Up 70 MBOEPD in 2017, Plans 2018 Encore

Frontera Drums Up 70 MBOEPD in 2017, Plans 2018 Encore

Frontera Energy Corporation (ticker: FEC) reported a net loss of $217 million, or $(4.33) per share for 2017. In Q4 2017, the company posted a net loss of $33 million, or $(0.65) per share. The company attributed the year’s loss …

Carrizo Oil & Gas Appoints New Board Member

Carrizo Oil & Gas Appoints New Board Member

Carrizo Oil & Gas, Inc. (ticker: CRZO) has appointed Frances Aldrich Sevilla-Sacasa, age 62, to its board of directors. Her immediate appointment increases the size of the Carrizo board to eight.

Photo: Americas Society / Council of the Americas…

NJ Senate Passes Bill Blocking Drilling

NJ Senate Passes Bill Blocking Drilling

From The Press of Atlantic City

Bipartisan legislation to ban offshore drilling in state waters and to prohibit infrastructure there from supporting drilling in federal waters off New Jersey, was approved 37-0 on Monday by the state Senate.

“This is …

Round 3.1 Overview Map

16 Contracts Awarded to 12 Bidders in Mexico’s Shallow Water Auction Round 3.1

Results of Mexico’s Shallow Water Auction – Round 3.1

18 bidders participated in the event

16 contracts were tendered to 12 bidders

On Tuesday, the opening of bids and awarding of exploration and hydrocarbons production contracts for the First Tender …

Bohrturm, Österreich: Weißer Hof 2014

ProPetro Profitable in 2017, Approaches One Million HHP

Permian-concentrated oilfield service provider ProPetro Holding Corp. (ticker: PUMP) had a net income of $12.6 million, or $0.16 per share for 2017. In Q4 2017 the company had a net income of $10.1 million, or $0.12 per share. The company …

Blackbird Energy Reports Q2 2018

Blackbird Energy Reports Q2 2018

Blackbird Energy Inc. (ticker: BBI) reported for the three months ended January 31, 2018, a net loss of CDN$1.71 million, or a net loss per share of $(0.00). For the six months ended January 31, 2018, the company reported a …

Canacol Energy Ltd.: Largest Caribbean Supplier of Natural Gas

Canacol Energy Ltd.: Largest Caribbean Supplier of Natural Gas

Calgary’s Canacol Energy Ltd. (ticker: CNE) recorded a net loss of USD$148 million for the year ended December 31, 2017, or $(0.48) per share – this compares to a net income of $23.6 million for the same period in 2016. …