Natural Gas News

Weekly Gas Storage: Draws Slows

Weekly Gas Storage: Draws Slows

The EIA released its weekly Natural Gas Storage Report today, outlining how national natural gas stocks have changed in the last week.

In total, the EIA reports natural gas stocks fell by 78 Bcf last week, dropping from 1,760 Bcf …

Heard at EnerCom Dallas 2018        

Heard at EnerCom Dallas 2018        

2018 – positive sentiment from the industry and economists

There were 31 presentations during the two days of the EnerCom Dallas oil and gas investment conference last week and the overall vibe at the conference was highly positive for 2018 …

RSP Permian Reports 89% Production Growth

RSP Permian Reports 89% Production Growth

$850 million in 2018 CapEx

RSP Permian (ticker: RSPP) announced fourth quarter results and reserves today, showing net earnings of $140.8 million, or $0.89 per share. Like many other E&Ps, RSP Permian saw a boost to Q4 earnings due to …

EOG: 35 Rigs in 2018 will Boost Returns

EOG: 35 Rigs in 2018 will Boost Returns

CapEx of $5.6 billion is below the $5.9 billion spent in 2017

EOG Resources (ticker: EOG) announced fourth quarter results and reserves today, showing net earnings of $2.4 billion, or $4.22 per share. This result was significantly improved by the …

Carrizo Turns to Multipad Completions in Eagle Ford

Carrizo Turns to Multipad Completions in Eagle Ford

Higher-than-expected Delaware production is both a blessing and curse

Carrizo Oil & Gas (ticker: CRZO) reported fourth quarter results and reserves today, announcing a net loss of $23.4 million, or ($0.29) per share. Carrizo earned a total of $78.5 million …

PDC Expects to be Free Cash Flow Positive in 2H 2018

PDC Expects to be Free Cash Flow Positive in 2H 2018

Achieved 44% yearly production growth

PDC Energy (ticker: PDCE) announced fourth quarter results and reserves today, showing earnings of $77.6 million, or $1.18 per share. The company reported a net loss for the full year of $127.5 million, or ($1.94) …

Dallas Fed’s Mine Yücel talks about Global Oil & Gas Output and the Goldilocks Price for 2018

Dallas Fed’s Mine Yücel talks about Global Oil & Gas Output and the Goldilocks Price for 2018

The Federal Reserve Bank of Dallas is populated with smart people who track the comings and goings of all the factors affecting the energy industry, not just in Texas but globally.

Dallas Fed SVP and Research Advisor Mine Yücel discussed …

Apache Returns to Profitability in 2017

Apache Returns to Profitability in 2017

Permian production breaks two-year record at 178 MBOEPD

Apache (ticker: APA) announced fourth quarter results and reserves on Thursday, showing net earnings of $456 million, or $1.19 per diluted share for the quarter. Apache earned a total of $1.3 billion …

Sanchez Energy Expects 29% Production Growth While Decreasing Spending by $100 Million

Sanchez Energy Expects 29% Production Growth While Decreasing Spending by $100 Million

$450 million capital budget for 2018

Eagle Ford juggernaut Sanchez Energy (ticker: SN) reported fourth quarter results and year end reserves today, reporting a net loss of $79.4 million, or ($1.01) per share, for the quarter and a net loss …

Drilling Activity Continues to Rise: Baker Hughes

Drilling Activity Continues to Rise: Baker Hughes

978 active rigs is highest count since April 2015

U.S. drilling activity continued to rise this week, with rig counts at the highest levels seen since the downturn began, according to Baker Hughes’ Weekly Rig Count.

The total number of …

Source: Enbridge

New England Power Infrastructure Woes Stretch Beyond Natural Gas

From The Wall Street Journal

Massachusetts officials thought they were close to securing future supplies of green energy by piping in hydroelectric power from Canada.

But a week after Massachusetts said yes to the $1.6 billion project, neighboring New Hampshire …

February 23, 2018 - 9:39 am Closing Bell Story‎, Natural Gas News
GE Won’t Sell Baker Hughes Stake Yet, Lowers 2018 Profit View

GE Won’t Sell Baker Hughes Stake Yet, Lowers 2018 Profit View

From The Wall Street Journal

General Electric Co. lowered its 2018 profit outlook Wednesday and said it has no intention of selling down its majority stake in oil services firm Baker Hughes before 2019, a shift from its previous exploration …

The New Data Room

The New Data Room

At EnerCom Dallas, BetaZi founder and CEO Janette Conradson made her point in a way just about any oil and gas property analysis team that’s comparing wells and looking at future production can relate to.

“You can cut through a …

February 22, 2018 - 6:04 pm Closing Bell Story‎, Crude Oil News, Natural Gas News
RS Energy Hardcore-No More Guessing

RS Energy Hardcore-No More Guessing

Type curves are not the only important metric in oil and gas evaluation

EnerCom Dallas Attendees heard RS Energy’s Oma Wilkie describe the company’s views on the oil and gas industry, based on RS Energy’s Hardcore reports.

According to RS …

Weekly Gas Storage: Draws Continue

Weekly Gas Storage: Draws Continue

The EIA released its weekly Natural Gas Storage Report today, outlining how national natural gas stocks have changed in the last week.

In total, the EIA reports natural gas stocks fell by 124 Bcf last week, dropping from 1,884 Bcf …

At 4 MMBOPD, Texas is Fifth Largest Oil Producing ‘Country’

At 4 MMBOPD, Texas is Fifth Largest Oil Producing ‘Country’

Fifth largest oil producer, fourth largest gas producer

Attendees of EnerCom Dallas heard Federal Reserve Bank of Dallas Senior VP and Research Advisor Mine Yücel outline the state of the modern oil and gas industry.

Yücel noted that the U.S. …

Encana Montney Liquids Production to Double in 2018, Permian up 30%

Encana Montney Liquids Production to Double in 2018, Permian up 30%

Permian and Montney will receive 70% of all 2018 CapEx

Encana (ticker: ECA) announced fourth quarter results and reserves today, showing a net loss of $229 million, or ($0.24) per share. Despite this quarter’s loss, the company earned a net …

Courtesy of EQT

EQT Takes Aim at 1.54 Tcfe in 2018

Reserves up 59% on Rice acquisition

EQT (ticker: EQT) released year end results and reserves today, showing fourth quarter earnings of $1.28 billion, or $5.83 per share. The vast majority of these earnings, $1.2 billion, are due to benefits from …

Rig Count Holds at 975:  Highest Point Since April 2015

Rig Count Holds at 975: Highest Point Since April 2015

Alaska activity up 80%

Drilling activity in the U.S. was flat this week, holding steady at the highest rig count in three years according to Baker Hughes.

The total number of rigs operating in the country was unchanged at 975, …

Weekly Gas Storage: Midwest Draws 75 Bcf

Weekly Gas Storage: Midwest Draws 75 Bcf

The EIA released its weekly Natural Gas Storage Report today, outlining how national natural gas stocks have changed in the last week.

In total, the EIA reports natural gas stocks fell by 194 Bcf last week, dropping from 2,078 Bcf …

EnerCom Effective Rig Count Approaches 2,500

EnerCom Effective Rig Count Approaches 2,500

Improvements in rigs, rapid pace for pad drilling, more pumping horsepower and higher efficiencies boost effective rig count to 2,495 rigs

EnerCom has released the latest Effective Rig Count, examining the state of drilling activity in major shale basins.

The …

U.S. Rig Count Hits Highest Level in Three Years

U.S. Rig Count Hits Highest Level in Three Years

975 rigs drilling today; Permian adds 10; horizontal rigs add 24 and are 85% of all U.S. drilling activity

Unconventional drilling activity came roaring back this week, according to the latest edition of Baker Hughes’ Weekly Rig Count.

The total …

Weekly Gas Storage: Draws as Expected

Weekly Gas Storage: Draws as Expected

The EIA released its weekly Natural Gas Storage Report today, outlining how national natural gas stocks have changed in the last week.

In total, the EIA reports natural gas stocks fell by 119 Bcf last week, dropping from 2,197 Bcf …

Pennsylvania Natural Gas Infrastructure. Source: EIA

Pennsylvania Governor Calls for Severance Tax, Again

From The Pittsburgh Business Times

Gov. Tom Wolf once again called for a severance tax on natural gas and oil production in Pennsylvania.

Wolf’s 2018-19 proposed budget calls for the implementation of a severance tax of between 4 cents and …

February 7, 2018 - 2:48 pm Closing Bell Story‎, Energy News, Natural Gas News
U.S. Shale Is Here To Stay: EIA’s Annual Energy Outlook

U.S. Shale Is Here To Stay: EIA’s Annual Energy Outlook

Tight oil, gas will dominate production over next 30 years

The EIA released its Annual Energy Outlook today, examining the long-term prospects for oil, gas and other energy sources in the U.S. The Annual Energy Outlook makes predictions through 2050, …

Midstates Petroleum Proposes Merger with SandRidge

Midstates Petroleum Proposes Merger with SandRidge

Merger would create $1 billion Mid-Con company

Midstates Petroleum (ticker: MPO) proposed a merger with SandRidge Energy (ticker: SD), only a few weeks after the SandRidge-Bonanza Creek (ticker: BCEI) merger was scrapped.

This potential merger would see SandRidge holders …

WPX Exits San Juan Basin, Sharpens Sites on Permian, Williston

WPX Exits San Juan Basin, Sharpens Sites on Permian, Williston

$700 million proceeds for Gallup oil play 

‘Our bias for action has completely reshaped our story’ – Rick Muncrief 

WPX Energy (ticker: WPX) announced its exit from the San Juan Basin, selling its assets in the Gallup oil play.  

WPX …

Source: Helix Energy

U.S. Adds Six Oil-Targeting Rigs: Baker Hughes

Small activity shifts, overall count down one

Drilling activity decreased slightly this week, with only minor changes in most categories, according to Baker Hughes Weekly Rig Count.

The total number of rigs active in the U.S. dropped by one, falling …

PetroQuest Sold its GOM Properties, Sees Reserves Up 36%

PetroQuest Sold its GOM Properties, Sees Reserves Up 36%

Achieved 247% reserve replacement ratio

PetroQuest (ticker: PQ) announced 2017 reserves today, showing a 36% increase in reserves; The company also announced the divestiture of its offshore Gulf of Mexico assets.

Reserves grow PetroQuest now holds 156 Bcfe in reserves, …

Drilled, Baby, Drilled

Drilled, Baby, Drilled

From The Wall Street Journal

Readers of pre-millennial vintage may recall the 2008 presidential campaign when Republicans and especially Sarah Palin picked up the chant “drill, baby, drill” as a response to soaring oil prices. The theme was much derided, …