Exploration and Production (E&P)

After 50 Years, the Wattenberg Field Keeps Re-inventing Itself

After 50 Years, the Wattenberg Field Keeps Re-inventing Itself

At $60 oil, our wells are very economic: an exclusive OAG360 interview with Great Western Oil & Gas CEO Rich Frommer

As summer heats up, the days are winding down on the second quarter of 2015, marking the second full …

Source: Gazprom. LNG tanker

European Emissaries Call for the End of U.S. Export Ban

Pennsylvania’s shale gas, affordable prices, preferred over Russian gas

Representatives from about 15 European embassies were in attendance during a recent meeting of the Williamsport-Lycoming Chamber of Commerce to discuss lifting the ban of exports of U.S. crude oil and …

Source: Gassco Karsto Pipes

Putin: Oil Prices “Suit Us for Now”

The Russian oil and gas industry sees prices remaining stable at ~$60-$65 per barrel

During the St. Petersburg International Economic Forum, Lukoil (ticker: LKOH) CEO Vagit Alekperov said that he expects oil prices to remain relatively stable moving forward. When …

WPX Energy Tacks on Acreage in the San Juan Basin

WPX Energy Tacks on Acreage in the San Juan Basin

WPX Energy (ticker: WPX) added 14,300 net acres to its San Juan Basin asset on June 22, 2015, increasing its overall position in the region to 100,000 net acres. WPX believes it holds 500 gross drilling locations across the Gallup …

Saudi Arabia Puts Pedal to the Floor on Oil Production

Saudi Arabia Puts Pedal to the Floor on Oil Production

“If you are Saudi Arabia…you would go to full capacity”

Goldman Sachs and Citi Group predict that Saudi Arabia will likely start to push production to its daily maximum of 11 MMBOPD in the second half of 2015, reports Bloomberg

Oil & Gas 360® Achieves One Million Pageviews

Oil & Gas 360® Achieves One Million Pageviews

New Oil & Gas 360® Users Accelerate Rapidly During the Past 12 Months

In 2010, EnerCom Inc. launched www.oilandgas360.com. The idea was to bring oil and gas data and insight to a global audience of oil and gas company …

Goodrich Petroleum Turns Two Wells Online in the Tuscaloosa Marine Shale

Goodrich Petroleum Turns Two Wells Online in the Tuscaloosa Marine Shale

Goodrich Petroleum (ticker: GDP) is turning two of its six uncompleted Tuscaloosa Marine Shale (TMS) wells online and expects initial production within two weeks.

The Houston-based exploration and production company will turn the remaining four wells online before its borrowing …

Denton Repeals Frac Ban

Denton Repeals Frac Ban

City council beats a “strategic” retreat in ongoing battle over hydraulic fracturing

Denton City Council has decided to lift its ban on hydraulic fracturing, calling the bill’s repeal a “strategic repeal.”

Seven months ago, the city of Denton Texas passed …

Rig Count Sees Smallest Fall this Year

Rig Count Sees Smallest Fall this Year

Baker Hughes rig count for the week ended June 19, 2015

The number of rigs drilling for oil and gas in the United States fell to 857 in the week ended June 19, 2015, a decline of just 2 rigs …

Ring Energy Fuels Drilling Program with Equity Offering

Ring Energy Fuels Drilling Program with Equity Offering

Ring Energy (ticker: REI), an E&P based in Midland, Texas, added to its balance sheet in the form of a public equity offering on June 18, 2015. The company issued 4,500,000 shares of common stock at a price of $11.50 …

Energen Going Big in Permian with New Hedges, $400+ Million Stock Offering

Energen Going Big in Permian with New Hedges, $400+ Million Stock Offering

Multi-year acceleration of Permian development slated for 2016 start

Wolfcamp B and C benches in Glasscock County may warrant two laterals per zone

Energen Corporation (ticker: EGN) took measures to secure stable near-term growth this week, adding its first oil …

Source: WPX

Utica Shale Review: The Evolution of a World Class Shale Play

“Unlocking the key” to unconventional plays is a popular moniker in today’s oil and gas market. Among the trickiest of plays to master is the Utica Shale, located across Maryland, New York, Ohio, Pennsylvania, Virginia and West Virginia.

The Utica …

First Quarter Refining Profits:  Up 95% from Q1 2014

First Quarter Refining Profits: Up 95% from Q1 2014

Higher crack spreads led to better refining margins for Integrated Oils, but can’t offset their upstream loses

Integrated oil and gas companies saw much higher profits from their refining operations in the first quarter of this year than in Q1 …

Escalera Resources Expands Atlantic Rim Holdings with $47 Million Purchase

Escalera Resources Expands Atlantic Rim Holdings with $47 Million Purchase

Escalera expands its core assets with purchase from Warren Resources

Escalera Resources (ticker: ESCR) added to its core assets with the $47 million purchase of producing wells and leasehold interests from Warren Resources (ticker: WRES) in the Atlantic Rim Area …

Contango Oil & Gas Announces Oil Discovery in Wyoming

Contango Oil & Gas Announces Oil Discovery in Wyoming

Contango Oil & Gas (ticker: MCF) announced “the discovery and successful completion” of a well located in Weston County, Wyoming, according to a company press release. The Elliott #1H well (80% working interest) is the first to be drilled by …

Source: Gazprom St Petersburg International Economic Forum

Russia Continues to Attract Western Oil Majors Despite Sanctions

“Political differences do not strongly affect serious business”:  European majors eye slate of upcoming opportunities

Attendance at Russia’s St. Petersburg International Economic Forum is up from last year after many Western companies decided to back out of last year’s conference …

Drill Rig in Alaska - Oil & Gas 360

Can Shell Encourage Investment in Alaska’s Hydrocarbon Sector?

Protestors in petroleum-based kayaks may be dominating headlines in Seattle, but Royal Dutch Shell’s (ticker: RDS.B) state of the art rig may help revitalize a prominent part of the U.S. energy sector that has been in decline for more than …

U.S. Energy Production is #1 –  Will Technology Keep it There?

U.S. Energy Production is #1 – Will Technology Keep it There?

42 years after the Arab oil embargo knocked the U.S. for a loop, energy experts are cheering the fact that the U.S. is the world’s number one producer—but Harvard University’s business school sees “a real risk that American citizens, companies,

A rig site in North Dakota

Rigs Down over 1,000 in Six Months

Baker Hughes rig count for the week ended May 12, 2015: 859

The total number of active rigs drilling in the United States fell to 859 for the week ended June 12, 2015, according to Baker Hughes (ticker: BHI). …

Hess Midstream Partners LP One Step Closer to Reality

Hess Midstream Partners LP One Step Closer to Reality

Next Up: IPO

Hess Corporation (ticker: HES) has announced plans for a 50/50 joint venture (JV) consisting of its midstream assets in the Bakken Shale. The company will receive cash consideration of $2.675 billion from its partner, Global Infrastructure Partners

Gulfport Energy Purchases Utica Acreage from American Energy Partners

Gulfport Energy Purchases Utica Acreage from American Energy Partners

Increases Net Utica Position to more than 230,000 Acres

Gulfport Energy (ticker: GPOR) made its second sizable acquisition in three months on June 9, 2015, landing 45,163 gross acres (33,426 net) in the Utica Shale from American Energy – Utica, …

Oil & Gas Stocks Prepare for Shift in Russell Indices Rebalancing Act

Oil & Gas Stocks Prepare for Shift in Russell Indices Rebalancing Act

June 26 is renowned as one of the busiest trading days of the year, and Reuters believes as much as $40 billion in transactions will occur in its final trading hours.

The culprit is the Russell Stock Index, an operator …

Black Hills Increasing Capex to Drill in the Piceance

Black Hills Increasing Capex to Drill in the Piceance

Plans submitted to the BLM call for over 100 horizontal wells

Black Hills Plateau Production (ticker: BKH) proposed its development plan for 32,600 acres of federal, private and split-estate lands in De Beque, Mesa County, Colorado, to the Bureau of …

SVP Mark Williams Lays Out Whiting Petroleum’s Secret to Success

SVP Mark Williams Lays Out Whiting Petroleum’s Secret to Success

A lot of core, an electron microscope, and complex completions

When Mark Williams began his lunchtime talk at last week’s AAPG national convention, except for a few knives and forks clinking plates you could have heard a pin drop.

The …

ConocoPhillips Pulls Out of Shale Development in Poland

ConocoPhillips Pulls Out of Shale Development in Poland

Calling it quits in Poland

ConocoPhillips (ticker: COP) has joined the ranks of oil majors saying “no more” to shale gas development in Poland. Tim Wallace, ConocoPhillips country manager in Poland, said the company would not continue shale gas development …

Great Western Oil & Gas Continues Acquisitions in the DJ Basin

Great Western Oil & Gas Continues Acquisitions in the DJ Basin

Great Western purchased 6,000 acres in the Wattenberg Field

Great Western Petroleum, a subsidiary of Great Western Oil & Gas Company, an affiliate of The Broe Group, purchased approximately 6,000 acres and eight producing wells in the Wattenberg Field, according

New Cyprus Project Could Produce 8 Billion Cubic Meters per Year

New Cyprus Project Could Produce 8 Billion Cubic Meters per Year

Noble Energy and Delek Group announce the commercial viability of their Cyprus projectCyprus

Israel’s Delek Group (ticker: DLEKG) and Texas based Noble Energy (ticker: NBL) announced the commercial viability of their natural gas project offshore Cyprus, according to a release

Rig Counts Down 37 in the Last Month

Rig Counts Down 37 in the Last Month

Baker Hughes rig count for the week ended June 5, 2015

Rig counts fell to 868 in the first week of June, down 37 from the first of May when the total number of rigs in the U.S. numbered 905, …

Cooling Technology Saves $52 Million on Natural Gas Platform

Cooling Technology Saves $52 Million on Natural Gas Platform

New tech requires fewer unplanned shutdowns, allowing for more production

Carigali-PTTEPI Operating Company (CPOC) announced this week that new chemical treatment and cooling technology that was installed on its

development platform in the Gulf of Thailand saved the company approximately …

Denton Considers Lifting Frac Ban

Denton Considers Lifting Frac Ban

House Bill 40 makes Denton frac ban unenforceable

Denton City Council held a meeting last night to consider its options for moving forward with the ban on hydraulic fracturing that it enacted in December of last year. The Texas …