Recent Company Presentations:

August 11, 2017

Two companies, Eco-Stim Energy Solutions and Bellatrix Exploration, that are presenting at EnerCom's The Oil & Gas Conference® have announced Q2 earnings and updates.
Eco-Stim Energy Solutions
Eco-Stim Energy Solutions (ticker: ESES) announced during its Q2 earnings call that is had increased its revenue by 233% over Q1, 2017 to $8.5 million. The company signed a second contract for services in Oklahoma, allowing it to expand its operations and activate a second spread.

The company completed a total of 88 stages during Q2 and—during Ju...

August 10, 2017

41 Gen 3 wells on line in the Eagle Ford
In its Q2, 2017 earnings call WildHorse Resource Development (ticker: WRD) reported second quarter production of approximately 22,600 BOEPD—which was 28% higher than its average production in Q1, 2017. It achieved a net income of $25.9 million, or $0.28 per share.
Drilling activity
During the course of Q2, the company brought 18 gross (17.4 net) wells online in the Eagle Ford, one gross (1.0 net) well online in the Austin Chalk, and two gross (1.1 net) wells online in north Louisiana. The company’s Ea...

Gradiant Energy Services tailors water solutions to basins, plays, operators
Water is a major concern throughout the oilfield. Operators are struggling with the logistics of water treatment as the need to handle water in day-to-day oilfield activities grows.

Gradiant Energy Services is a privately held company that offers several solutions geared towards bacteria treatment, re-use, disposal, and desalination of water resources.  Gradiant is a presenter at EnerCom’s Oilfield Tech & Innovation Day on Aug. 17 in Denver.
Providing water s...

August 9, 2017

Four presenters at EnerCom's 22nd The Oil & Gas Conference® announced earnings and operational updates for Q2.
Northern Oil and Gas
Northern Oil and Gas (ticker: NOG) said that its average production had grown 4% from the first quarter to the second, up to 13,794 BOEPD. The company produced a total of 1,255,280 BOE over the course of the quarter.

During the second quarter it added 4.3 net wells to production. As of the end of June, 2017 Northern had 16.1 net wells with an internal rate of return of approximately 30% at $50 per barrel ...

Cimarex Energy (ticker: XEC) announced net income of $97.3 million during its second quarter conference call today—a significant turnaround from its Q2, 2016 loss of $214.4 million. The company produced near the high end of its expected Q2 guidance, with an average of 1.156 Bcfe per day—or approximately 192.7 MBOE per day.

The company’s production climbed nine percent over its Q1, 2017 production and 19% over its Q2, 2016 production. Oil production alone averaged 57,871 BOPD, an increase of 11% from its Q1, 2017 production.

Over the cours...

August 8, 2017

Oil & Gas Conference® presenters Lonestar, Resolute, Carrizo, Black Stone, Denbury report a busy quarter
Lonestar Resources
During its second quarter, Lonestar Resources (ticker: LONE) indicated that its production had risen by 7% above Q1 volumes. The company averaged Q2 production of 5,635 BOEPD—over its 5,266 BOEPD in Q1.

In mid-June, Lonestar closed on an approximately $110.6 million acquisition of 21,238 net acres in the Eagle Ford. The acquisition nearly doubled the company’s footprint in the Eagle Ford, jumping to 57,330 net acr...

August 4, 2017

Three companies that will be presenting at EnerCom’s 22nd The Oil & Gas Conference® have reported financial and operational updates for the second quarter of 2017.
Gastar Exploration
Gastar Exploration (ticker: GST) indicated today that it averaged 6,100 BOEPD in production—a number that exceeded its guidance for the quarter. Liquids made up 73% of total production.

The company’s president and CEO, Russell Porter, said that Gastar continues “to make progress delineating the Meramec and Osage formations,” and that the company had drille...

Apache Corp. (ticker: APA) announced its second quarter results and operational updates August 3rd, and reported an average production of 388,000 BOEPD. The company earned $572 million during Q2.

Apache’s North American production totaled 244,000 BOEPD—where it averaged 18 rigs, and completed 36 gross wells. The Permian assets produced 146,000 BOEPD. In the Delaware Alpine High location, Apache continued testing and mapping.

In the North Sea, Apache averaged 55,000 BOEPD of production and ran an average of four rigs during the quarter. Th...

August 3, 2017

Approach Resources
Approach Resources (ticker: AREX) exceeded its production guidance for Q2, with production at 11.9 MBOEPD, and dropped its lease operating cost below guidance as well, at $3.92 per BOE.

Approach drilled a total of eight wells and completed another five. One of the completed wells was in the Wolfcamp A bench, two more in the Wolfcamp B bench, and the last two in the Wolfcamp C bench. As of the end of June, the company had ten horizontal wells waiting to be completed and one well being drilled.

Approach has also been abl...

In its second quarter, PetroQuest Energy (ticker: PQ) produced a total of 6.3 Bcfe up from 6.0 Bcfe produced in Q2, 2016. PetroQuest had a loss of $3,385,000 for Q2, 2017, down significantly from a Q2, 2016 loss of $24,143,000. The company’s production for the first half of the year was 11.5 Bcfe. The company reported lease operating costs of $1.12 per Mcfe, a decrease of $0.02 since Q2 2016.

The company’s average daily production was 69.5 Mmcfe per day during Q2. The company is waiting to restore production from its recompleted Ship Shoal 7...

August 2, 2017

During Q2, Devon Energy (ticker: DVN) averaged approximately 536,000 BOEPD which was 6,000 BOEPD higher than the company’s midpoint guidance for the quarter. Of that, approximately 44% of the production was oil.

Devon indicated that 412,000 BOEPD of its total 536,000 BOEPD was sourced from U.S. resource plays.

The company believes that its liquid volumes will reach approximately 65% of its product mix. Currently the company is forecasting crude oil production of between 234,000 and 244,000 BOPD for the third quarter.

The company also h...

EOG Resources (ticker: EOG) had a Q2 net income of $23.1 million. A year ago, during the same quarter of 2016, the company reported a net loss of $292.6 million.  EOG’s oil production grew to 334,700 BOPD during Q2, a 25% improvement from the previous quarter.

In its Delaware basin assets, EOG completed 25 wells in the Wolfcamp, 19 wells in the Bone Spring assets, and three wells in the Leonard assets. In its Eagle Ford assets, the company completed 51 wells, and in its South Texas Austin Chalk assets it completed nine wells. The company com...

BBG adds second rig in the DJ – company likely to exit Utah, put the capital into the DJ: Crawford
Bill Barrett Corporation (ticker: BBG) reported production at the high end of its initial Q2 guidance—with cumulative volumes of 1.53 MMBOE for the second quarter. The company’s anticipated production was between 1.45 and 1.55 MMBOE. The company indicated that it achieved capital expenditures of $59 million, well beneath the company’s Q2 guidance range of $65 to $75 million.

The company also succeeded in further reducing its DJ basin oil price...

Production approaching 2 Bcfe per day
During its second quarter of 2017, Range Resources (ticker: RRC) reported a net income of $70 million as compared to a net loss of $225 million a year ago. The company’s cash margins grew to $1.09 per Mcfe up from $0.70 per Mcfe in Q2, 2016.

Range reached a new record in production at an average of 1.945 Bcfe per day—37% higher than the production for Q2, 2016.  The company highlighted a seven-well pad in the liquids-rich portion of the Marcellus with an average initial production of approximately 29.1 ...

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