PT Petroleum’s Orange 6091C Well: 100 MBbls in First 140 Days
PT Petroleum, LLC Announces Wolfcamp C Results in Midland Basin
…Exploration and Production (E&P)
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, 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 …
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
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 Announces Significant Production Increase and Core Area Property Acquisition
…
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 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
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
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
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 Announces Sale of Certain Non-Core Assets
…
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, …
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 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
$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 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, 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
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 …
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 …
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 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
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. …
Eclipse Resources Utica Well Goes to 30,000 Feet TD with a 19.3K Horizontal
Super laterals made the difference: Eclipse had eight of Q4 2017’s top ten producing wells in Ohio – Hulburt
Eclipse Resources Corporation (ticker: ECR) successfully drilled its longest Utica Dry Gas well to date. The Wiley D 8H had a …
EIA Covers TRRC Blind Spot, Explains How and Why
Data published by state agencies, like the Texas Railroad Commission, are often incomplete when first published because of a combination of late reporting and processing delays, the EIA explained today as it compared TRRC and EIA data sets.
TRRC’s most …
PetroShare Preps for April Frac at Shook Pad
DJ Basin focused PetroShare Corp. (ticker: PRHR) reported yearend proved reserves of approximately 7.9 MMBOE, a 25% increase over 2016 yearend proved reserves. The PV-10 value was about $59 million and the volume of the proved reserves is split 67% …
Lilis Energy’s Permian Takeaway Starts Operations, Production Now Beyond 5,000 BOEPD
Thanks to new takeaway capacity, company looks at additional growth in 2018
Permian E&P Lilis Energy, Inc. (ticker: LLEX) said its third-party operated midstream system has commenced operations. The company also said that its current production is exceeding 5,000 BOEPD …
Delaware Basin Makes New Mexico the U.S.’s No. 3 Oil Producer
New Mexico is the nation’s third-largest oil producing state, thanks to the Delaware Basin: EIA
From the Albuquerque Journal
Battle Axe Road cuts smack through the heart of New Mexico’s side of the Delaware Basin, a previously marginal zone along …
Iraq Announces Bid for 11 Oil, Gas Blocks to Foreign Companies for Exploration
Iraq wants to bump production to more than 5 MMBOPD
From Xinhua
BAGHDAD, March 26 (Xinhua) — Iraq plans to invite foreign energy companies to a new bid for the exploration and development of 11 oil and gas blocks near …
Wyoming Lease Sale Nets Almost $20 Million
From the San Francisco Chronicle
A Bureau of Land Management oil and gas lease sale in Wyoming has netted nearly $20 million.
Wyoming will get about half the proceeds from the sale.
The agency says the last week’s sale resulted …
