2017 Archives - Page 6 of 7

Sanchez Energy Grows Proved Reserves by 88%, Sets Production Record

February 1, 2018

Sanchez Energy Corporation (ticker: SN) released year-end 2017 proved reserves and operating results for the fourth quarter and full year 2017. Highlights Proved reserves increased by 88% during the year to approximately 363 MMBoe, with a reserve replacement ratio of roughly 762% in 2017 Fourth quarter 2017 production of nearly 7.5 MMBoe, or 81,977 BOEPD The company’s production mix during

Shell Earned $4.3 Billion for Q4, $15.8 Billion for 2017

February 1, 2018

Royal Dutch Shell (ticker: RDS.A) CEO Ben van Beurden had some things to celebrate in his company’s year-end reporting today. “We were able to deliver $39 billion of cash flow from operations excluding working capital movements from our upgraded portfolio. We strengthened our financial framework during the year through an $8 billion reduction in our net debt…,” the CEO said

Parsley Energy Keeps the Green Coming

January 30, 2018

FY2017 CapEx of $1.2 billion: 40 wells to be placed on production each quarter in 2018 Parsley Energy, Inc. (ticker: PE) has released certain full-year 2017 results and an operational update for its Wolfcamp C delineation program. Q4 and FY2017 results Parsley expects full-year 2017 net production of 68 MBOEPD, up 78% relative to full-year 2016 net production. Additionally, Parsley

Bonanza Creek Hits High Water Marks

January 29, 2018

Bonanza Creek Energy, Inc. (ticker: BCEI) exceeded the company’s high-end of Q4 2017 estimates by producing 14.8 MBOEPD. The company is expecting Rockies production to grow by 20% in 2018 and in 2019 Bonanza Creek said it expects an increase of 50% or more. Expanding core footprint in DJ with French Lake “In 2017, we secured our strategically important leasehold

RPC, Inc. Increases Revenue by 93.4% to $427.3 Million

January 24, 2018

RPC, Inc. (ticker: RES) announced today its unaudited results for the fourth quarter and year ended December 31, 2017. For the quarter ended December 31, 2017, revenues increased by 93.4% to $427.3 million, compared to $221.0 million in the fourth quarter of 2016. For the twelve months ended December 31, 2017, revenues increased by 118.8% to $1.6 billion compared to $729.0 million for 2016. Net income for the twelve-month period was $162.5

North Dakota Producing Almost 1.2 Million BOPD

January 17, 2018

North Dakota production set new records in 2017 even though the rig count has gone down. At least 1.18 million BOPD was produced in October and November. North Dakota gas production hit new highs in November as well – over two million Mcf/day. Keep the oil barrels rolling Oil production in October reached 36,698,095 barrels in total, or 1,183,810 BOPD

GeoPark Issues Operational Update

January 10, 2018

GeoPark Limited (ticker: GPRK), an independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Brazil, Argentina, Chile and Peru, issued an operational update. GeoPark’s 2018 work program and budget is $100-$110 million. The company is targeting the drilling of 30-plus wells, representing a 15-20% production increase over 2017 average levels. The projects

Suncor Energy: 2017 Production Update

January 4, 2018

Suncor Energy Inc. (ticker: SU) released end-of-year production numbers and provided an update to the Fort Hills dispute. Highlights Upstream production of 736,000 BOEPD Oil sands produced 447,000 bbls/d, including 6,000 bbls/d from Fort Hills Syncrude produced 325,000 bbls/d for the quarter, 174,000 bbls/d net to Suncor International E&P production of 115,000 BOEPD Bitumen upgrader operations ran at utilization rates

Permian Basin Production Breaks 44-Year Record: IHS

December 27, 2017

Permian production will push U.S. to new record liquids production by end of 2018 – IHS Markit IHS Markit released a new report today. IHS Markit said that the Permian Basin reached a new 2017 oil-production record of 815 million barrels – this does not include the remaining days left in 2017. The old 1973 record held at 790 million

Panhandle Oil and Gas Q4/FY2017 Results

December 13, 2017

Panhandle Oil and Gas Inc. (ticker: PHX) released its Q4 results today along with an operations update. Highlights for the periods ended September 30, 2017 Recorded a fourth quarter 2017 net income of $1,039,134, $0.06 per share, compared to a net income of $737,190, $0.05 per share, for the 2016 fourth quarter Recorded a fiscal year 2017 net income of $3,531,933, $0.21 per share, compared to a net loss

Phillips 66 Announces CapEx Budget for 2018

December 11, 2017

Phillips 66 (ticker: PSX) recently announced its 2018 capital budget of $2.3 billion, which includes $1.4 billion of growth capital and $0.9 billion of sustaining capital. In midstream, the company plans to invest $1.2 billion, including $1 billion of growth capital in its natural gas liquids and transportation businesses. Phillips 66 said that the Beaumont Terminal is still undergoing expansion

Fraser Institute Releases 2017 Global Petroleum Survey Results

November 28, 2017

The shackles are being taken off the U.S. energy sector, which spells trouble for Canadian jurisdictions trying to attract oil and gas investment dollars – Fraser Institute What is the Global Petroleum Survey? The annual survey, published by the Fraser Institute, studies barriers to investment in oil and gas exploration and production facilities in various jurisdictions around the globe. The

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