Recent Company Earnings:

March 16, 2018

Earlier today Energy XXI Gulf Coast (ticker: EXXI) reported financial and operational results for the fourth quarter and full year 2017.

In addition, the company announced that it will change its Nasdaq ticker symbol on March 21, 2018, from EXXI to EGC.
Highlights from Q4 2017

Produced an average of approximately 27,600 barrels of oil equivalent ("BOE") per day (77% oil) during Q4
Benefited from strong oil price realizations during the fourth quarter of $59.27 per barrel, approximately 7% higher than the WTI average price of $55.40 ...

With the sale of its West Edmund Hunton Lime Unit (WEHLU) closed in February 2018, Gastar Exploration (ticker: GST) is now positioned to become a pure-play Oklahoma STACK Play operator. In the STACK play, Gastar is targeting two producing formations: Osasge and Meramec.

Operational update
According to Stephen Roberts, Senior Vice President and Chief Operating Officer, “As compared to the first half of 2017, we have seen a reduction in the number of days to drill a well from 19.4 to 12.4 days and reduced completion days from seven to f...

March 2, 2018

Penn Virginia Corporation (ticker: PVAC) announced its financial and operational results for Q4 2017 and full year 2017.
Operational Highlights

The two-well Geo Hunter pad had a 30-day initial production (“IP”) rate of 3,767 BOEPD and a previously announced 24-hour IP rate of 5,465 BOEPD. In addition, PVAC recorded a 24-hour IP rate from its Southern Hunter Amber two-well pad of 5,092 BOEPD. Both pads utilized the company’s slickwater completion design;
PVAC produced 3.8 MMBOE or 10,353 BOEPD (73 percent crude oil), for full year 2017,...

Callon Petroleum Company (ticker: CPE) reported results of operations for the three months and full-year ended December 31, 2017.
Financial and operational highlights

Full-year 2017 production of 22.9 MBOE/d (78% oil), an increase of 50% over 2016 volumes
Fourth quarter 2017 production of 26.5 MBOE/d (79% oil), a sequential quarterly increase of 18%
Year-end proved reserves of 137.0 MMBOE (78% oil), a year-over-year increase of 50%
Organic reserve replacement(i) of 566% of 2017 production at a "Drill-Bit" finding and development...

‘A couple of engineers are significantly less expensive than a poorly completed well – EP’s Russell Parker’
On February 28, 2018 Ep Energy Corporation (ticker: EPE) announced fourth quarter and year-end 2017 financial and operational results.
Key highlights

New leadership team in place
3 thousand barrels of oil equivalent per day (MBOEPD), including 46.1 thousand barrels of oil production per day (MBOPD)
$587 million of oil and gas expenditures, including acquisitions of $29 million
149 completed wells
$194 million net loss ...

January 19, 2018

SLB: says will exit seismic acquisition market; posts almost a billion-dollar write down for Venezuela
Schlumberger Limited (ticker: SLB) reported its results for fourth quarter and full-year 2017.

Fourth quarter revenue of $8.2 billion, increased 3% sequentially
Fourth quarter pretax operating income of $1.2 billion, increased 9% sequentially
Fourth quarter GAAP loss per share, including charges of $2.11 per share, was ($1.63)
Full-year and fourth quarter cash flow from operations were $5.7 billion and $2.3 billion,...

November 2, 2017

Borrowing base stays at $475 million
Unit Corporation (NYSE: UNT) reported Q3 today; highlights include:

Net income of $3.7 million and adjusted net income of $5.3 million.
Oil and natural gas segment production increased 5% over the second quarter of 2017.
Contract drilling segment's average drilling rigs utilized increased 20% over the second quarter of 2017.
Midstream segment increased gas processed and liquids sold volumes 4% and 1%, respectively, over the second quarter of 2017.
Reduced long-term debt by $2.3 million from...

November 1, 2017

On October 31, 2017 Bill Barrett Corporation (Ticker: BBG) reported Q3 financial and operating results and updated 2017 operating guidance.

BBG reported a net loss of $28.8 million, or ($0.39) per diluted share for Q3. Adjusted net income for the third quarter of 2017 was a net loss of $5.9 million, or ($0.08) per diluted share. EBITDAX for the third quarter of 2017 was $47.9 million.

BBG said it had 26% sequential production growth, 33% sequential growth in oil volumes, tighter oil differentials, an 18% sequential decrease in LOE, and ca...

October 20, 2017

Kibsgaard: Market is now in balance, look for upward movement in oil prices and growth in E&P investment 
Earnings season is here for Q3, and the oil and gas industry got off to a strong start with Schlumberger (ticker: SLB) reporting today.
Q3 Stats

Revenue of $7.9 billion increased 6% sequentially
Pretax operating income of $1.1 billion increased 11% sequentially
GAAP EPS, including Cameron integration-related charges of $0.03 per share, was $0.39
EPS, excluding Cameron integration-related charges, was $0.42
Cash flow f...

August 11, 2017

During its second quarter, Superior Drilling Products (ticker: SDPI) reported revenue of $4.0 million, up from $2.9 million in the previous year’s Q2. The company’s net income was $0.3 million for Q2, up $3.4 million from a Q2, 2016 loss.

The company’s Drill-N-Ream®—or DnR—technology increased in sales and the company said that its channel partner successfully achieved its June 2017 market share goal with the DnR. Revenue from the company’s tool sales increased to $2.5 million—an increase of 179% over its prior year period.

The company’s ...

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 ...

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