Exploration and Production (E&P)

Oil & Gas 360

Oil & Gas 360® Exclusive Interview: Stephens E&P Research

Short Term Oversupply, Permian in the Pole Position

Oil & Gas 360® interviewed Stephens Inc. Senior Vice President E&P Research, Will Green, and Vice President E&P Research, Ben Wyatt, this week, in pursuit of their view of the current commodities …

Russia Faces More Obstacles than Falling Oil Prices

Russia Faces More Obstacles than Falling Oil Prices

Low prices will hurt the Russian economy, but they are far from being Russia’s only problem

The World Bank last month released its growth projections for Russia in 2015 and 2016, offering a glimpse into a potentially bleak future for …

Refineries, Gasoline Prices Experiencing the Silver Lining of Commodity Environment

Refineries, Gasoline Prices Experiencing the Silver Lining of Commodity Environment

United States refineries are running at utilization rates well above 90%, but don’t count them as part of the oil and gas industry being squeezed in the current commodity market. The Energy Information Administration (EIA) still expects domestic production to …

Permian Production Nearing 2 MMBOPD in Latest EIA Report

Permian Production Nearing 2 MMBOPD in Latest EIA Report

The Drilling Productivity Report, released monthly by the Energy Information Administration, expects production in all seven listed regions to rise in February even though companies are laying down rigs and reducing operations.

The two respective giants of the oil and …

Despite Road Bumps for Other Projects, Alaska LNG Moves Forward

Despite Road Bumps for Other Projects, Alaska LNG Moves Forward

Alaska’s LNG “gigaproject” moving forward despite low prices

While many liquid natural gas (LNG) projects are being put on the back burner due to the low oil price environment, the Alaska LNG project continues to march on.

The project, which …

Barclays Initiates Coverage on Oilservice Sector with “Neutral” Outlook

Barclays Initiates Coverage on Oilservice Sector with “Neutral” Outlook

Barclays’ coverage initiation on the oilservice sector last week could very well be summed up in two words: budget cuts.

The London-based banking company says approximately 90% of the oilservice group is historically correlated to oil prices, and the dropping …

Northern Oil and Gas: Large Non-Operator in Bakken/Three Forks

Northern Oil and Gas: Large Non-Operator in Bakken/Three Forks

Northern’s New Website Tells the “One Step Ahead of the Drill Bit” Story with Jumbo Graphics, Maps and Aerial Photography

Northern Oil and Gas, Inc. (ticker: NOG), is an independent oil and gas producer that has one of the largest …

DNB Sees Bullish Signals in the Oil Patch

DNB Sees Bullish Signals in the Oil Patch

$70-$100 per Barrel for the Coming 5-10 Years

In its Oil Market Report sent to clients today, DNB Bank’s Oslo research team led by oil market analyst Torbjørn Kjus, said “we now believe prices have dropped to unsustainably low levels …

Gulf of Mexico Continues Strong Performance, Even as Oil Prices Remain Low

Gulf of Mexico Continues Strong Performance, Even as Oil Prices Remain Low

Unconventional wells are becoming more economically difficult as prices remain low

With oil losing more than 50% of its value in six short months, United States shale producers are increasingly feeling the market squeeze as they struggle to competitively price …

Winter is Coming for the Oil & Gas Industry

Winter is Coming for the Oil & Gas Industry

Worsening conditions prove there is no such thing as home field advantage

Production in the Permian Basin was impacted this last week due to freezing rain and temperatures dropping into single digits, according to news releases from Energen (ticker: EGN)

Oil prices turned firmly lower during midday trading on Tuesday. Crude futures were little changed earlier in the session, depressed by a report of record Saudi production but supported by expectations that oil exporters would agree to cut output at an OPEC meeting next week. Oil & Gas 360

Oil Prices: Pain from A Thousand Cuts

Effects from the oil price slide are being celebrated by the average American consumer. AAA reports Americans may save as much as $75 billion in fuel costs in 2015, or $550 per household, which amounts to the lowest in more

Crescent Point and Concho Announce Production Increase Despite Lower CapEx

Crescent Point and Concho Announce Production Increase Despite Lower CapEx

Crescent Point will maintain dividend despite 28% CapEx cut

Two companies this week, Crescent Point Energy Corp. (ticker: CPG) and Concho Resources Inc. (ticker: CXO), released forward looking statements projecting increased production in 2015, regardless of commodity prices.

Crescent Point, …

LINN Energy Taking New Measures to Adapt to Commodity Swing

LINN Energy Taking New Measures to Adapt to Commodity Swing

MLP Pioneer Cuts Dividend and Capex by more than 50%

LINN Energy LLC (ticker: LINE), a top-15 independent oil and natural gas development company, has announced reductions of more than 50% in both capital expenditures and dividends in 2015. LINN …

Oil Prices Continue to fall, but for how long?

Oil Prices Continue to fall, but for how long?

The oil and gas industry wasn’t given much of a respite following the unofficial ending to the holiday season. Oil prices continued their plunge on Monday, January 5, 2015, with West Texas Intermediate (WTI) and Brent prices closing at $49.78 …

Gulfport Energy Exceeds Full-year 2013 Production in Q4’14

Gulfport Energy Exceeds Full-year 2013 Production in Q4’14

Gulfport Energy Corp. (ticker: GPOR) has announced 2014 exit rate net production of approximately 68 MBOEPD (73% gas weighted), according to the company’s release. During the month of December 2014, Gulfport estimates average net production of approximately 66 MBOEPD. …

U.S. Department of Commerce Loosens Reins on Oil Exports

U.S. Department of Commerce Loosens Reins on Oil Exports

The United States Department of Commerce said it has begun approving requests to sell light processed oil on the international market. The transactions, which now can be conducted by companies without government approval, pertain only to selling crude that has …

2014 in Review: United States Production Boom Facing Uncertainty

2014 in Review: United States Production Boom Facing Uncertainty

What a difference a year makes.

When Oil & Gas 360® released its year in review piece exactly 365 days ago, the Energy Information Administration (EIA) was projecting oil volumes to rise through 2016 and natural gas volumes to …

Petrobras: Release of External Auditor Reports will be Delayed

Petrobras: Release of External Auditor Reports will be Delayed

Petróleo Brasileiro S.A. (ticker: PBR), or Petrobras, will release its official Q3’14 financial results in January 2015 without the external auditors report from PricewaterhouseCoopers (PwC). The decision, announced on December 29, 2014, adds that PBR is “committed to releasing …

2015 E&P Guidance: Capital Cuts Across the Board

2015 E&P Guidance: Capital Cuts Across the Board

As expected, the majority of North American E&Ps are slashing budgets in anticipation for 2015 – a year in which the Energy Information Administration forecasts West Texas Intermediate prices at $62.75/barrel. A common theme in 2015 guidance is a focus …

Southwestern Energy Continues Appalachia Acquisition Spree with $394 Million Deal

Southwestern Energy Continues Appalachia Acquisition Spree with $394 Million Deal

One day after closing on its $4.975 billion acquisition for 413,000 net acres in West Virginia and southern Pennsylvania, Southwestern Energy (ticker: SWN) spent another $394 million to increase its working interest. On December 23, 2014, SWN secured a 20% …

Close proximity of oil and gas drilling operations to residential real estate developments creates problems for operators and homeowners.

Will Oil & Gas Operators Come Together with Local Homeowners in 2015?

What to Expect Before You Begin Drilling 500 Feet from a Group of Million Dollar Homes

Colorado’s Oil & Gas Task Force Offers Oil & Gas Operators, Local Homeowners Some Preliminary Solutions

Drilling the Niobrara was a check-the-box kind of …

Whiting Petroleum Announces Increase in Reserves, Credit Commitments

Whiting Petroleum Announces Increase in Reserves, Credit Commitments

Whiting Petroleum (ticker: WLL), the largest producer of the Bakken/Three Forks shale play, announced estimated reserves of 780 MMBOE (83% oil) in a news release on December 22, 2014. The report was independently commissioned by a third party and represents …

Bellatrix Exploration Announces Revised 2015 Guidance, Achievement of 2014 Production Guidance

Bellatrix Exploration Announces Revised 2015 Guidance, Achievement of 2014 Production Guidance

Bellatrix Revises 2015 CapEx and Production Guidance

Calgary-based Bellatrix Exploration (ticker: BXE) announced the achievement of its 2014 year-end production guidance in a news release on December 22, 2014. The company also  revised its 2015 capital budget to $300 million, …

Saratoga Resources Updates Operations, Focuses on Optimization

Saratoga Resources Updates Operations, Focuses on Optimization

Saratoga Resource Inc. (ticker: SARA) announced an update on the company’s recent operations and measures being taken to reduce costs and enhance operational efficiencies in the current oil price environment. SARA holds approximately 52,000 gross/net acres (60% held by production) …

Upstream MLPs Getting the Worst of Commodity Downturn

Upstream MLPs Getting the Worst of Commodity Downturn

Oil & Gas 360 Exploration & ProductionDown more than 50% Year to Date

Oil and gas companies are tightening the purse strings for 2015, as several news releases on guidance are showing capex declines of 20% or more. Commodity hedges may protect most companies from further …

Repsol Splashes into M&A Market with $13 Billion Acquisition of Talisman Energy

Repsol Splashes into M&A Market with $13 Billion Acquisition of Talisman Energy

Looming mergers and acquisitions is a popular debate in the sub-$60 oil market, and Spain’s Repsol (ticker: REPYY) made the first splash with the US$13.0 billion acquisition of Talisman Energy (ticker: TLM) on December 16, 2014. The deal includes $8.3 …

Encana Corp. Increasing Capital in 2015 to Focus on Liquids Program

Encana Corp. Increasing Capital in 2015 to Focus on Liquids Program

Encana Corporation (ticker: ECA) has announced a 2015 capital budget of $2.7 to $2.9 billion, with approximately 80% directed to four of its highest margin growth plays; the Montney and Duvernay in Canada, as well as the company’s Permian and …

Range Resources Announces 2015 CapEx and Record Well in the Utica

Range Resources Announces 2015 CapEx and Record Well in the Utica

Utica/Point Pleasant well sets Appalachia record

Range Resources (ticker: RRC) announced today its 2015 capital budget and initial results from its Utica/Point Pleasant well located in Washington County, Pennsylvania.

Range has set its 2015 capital budget at $1.3 billion, a …

VAALCO Energy Updates Operations Offshore Africa

VAALCO Energy Updates Operations Offshore Africa

VAALCO Energy, Inc. is a Houston based independent energy company principally engaged in the acquisition, exploration, development and production of crude oil.  VAALCO places high emphasis on international opportunities and holds acreage in Gabon, Angola and Equatorial Guinea in West …

PDC Energy Operational Update: Production Rising with Less Capital

PDC Energy Operational Update: Production Rising with Less Capital

On December 8, 2014, PDC Energy (ticker: PDCE) announced its 2015 capital budget after a profitable Q3’14.

For 2015, PDC’s capital budget is approximately $557 million, a decrease of 14% compared to its 2014 expenditures. The company’s budget includes $526 …