Post Tagged with: "2018"

WPX Energy, Delaware basin. Three drilling rigs on multi-well pads. L to R: Orion Drilling, Pegasus on the CBR 22-10H, Aries on the CBR 22-14H.

Drilling, Revenues from Federal Onshore Lands in an Upswing: 1,919 wells Spud in FY ’18 is 1,000 Higher than FY 2016

With smallest acreage in history, U.S. government nets record oil and gas onshore revenues of $1.1 billion

Fiscal Year 2018 was a record year for onshore oil and gas revenues on public lands due in large part to more streamlined …

Earnings in Brief: Six E&Ps and a Sand Supplier Announce 2018 Wins, Losses - Oil & Gas 360

Earnings in Brief: Six E&Ps and a Sand Supplier Announce 2018 Wins, Losses

2018 Earnings season gets ready for a wrap
As oil and gas earnings are getting ready for the wrap party, a group of middle market producers and a proppant company announced earnings in the past few days, with key points

The Oil & Gas Story in 2018 was Written by Strong Oil Prices

The Oil & Gas Story in 2018 was Written by Strong Oil Prices

Oil prices above breakeven for three quarters of the year positive for drillers

On the whole, 2018 produced good news for U.S. oil and gas companies, at least through the first three quarters of the year. Prices were above …

Colorado Ballot Count Begins at 1.85 Million as Election Day Dawns

Colorado Ballot Count Begins at 1.85 Million as Election Day Dawns

Colorado voters could set a mid-term record
Here’s how the ballot count breaks down before polls officially opened on election day, according to the Colorado Secretary of State’s ballot count report as of 12:34 a.m. Nov. 6, 2018:

DEMOCRAT BALLOTS

Day Three at the 2018 EnerCom Conference

Day Three at the 2018 EnerCom Conference

The third day of the 2018 EnerCom The Oil & Gas Conference brought out a range of producers and oilfield service companies, plus three panels to wrap up the day–Oil & Gas in Mexico, an International Operators panel and a …

Lilis Adds Crude Gathering Capacity

Lilis Adds Crude Gathering Capacity

Permian E&P Lilis Energy, Inc. (ticker: LLEX) has entered into a crude oil gathering agreement with Salt Creek Midstream, LLC. Salt Creek’s system will be constructed, managed and operated by ARM Midstream Management, LLC. Construction of the project is expected …

Goodrich Petroleum: Focused on Haynesville through 2019

Goodrich Petroleum: Focused on Haynesville through 2019

All CapEx in 2018 and 2019 focused on Haynesville

Goodrich Petroleum Corporation (ticker: GDP) had a net loss of $5.3 million in the first quarter of 2018, or $(0.47) per share. Capital expenditures totaled $21 million in the quarter, of …

Gulfport Energy Scores Big Gas Wells in the SCOOP

Gulfport Energy Scores Big Gas Wells in the SCOOP

Expects to fund all $780 million CapEx within cash flow in 2018

Gulfport Energy Corporation (ticker: GPOR) provided an update on two notable SCOOP well results.

During its initial 30 days of production, the Lilly 3-15X10H cumulatively produced 395.5 MMcf …

Courtesy of Extraction Oil & Gas, Inc.

Extraction Oil & Gas Targets Positive All-In Free Cashflow in 2H 2018

Extraction Oil & Gas, Inc. (ticker: XOG) reported a net loss of $52 million for Q1 2018, or $(0.32) per share. First quarter average net sales volumes were 68,874 BOEPD, including 36,052 BPD of crude oil, an increase of 106% …

WildHorse Resource Produced 52.4 MBOEPD in Q1

WildHorse Resource Produced 52.4 MBOEPD in Q1

WildHorse Resource Development Corporation (ticker: WRD) reported a net loss available to common stockholders of $123.2 million in Q1 2018, or $(1.24) per share. Net production was 52.4 MBOEPD for the quarter, consisting of 60% oil, 31% natural gas and …

Courtesy of HighPoint Resources

HighPoint Resources Drops Completion Time to 4.2 Days per Well; Wants to Bring Second Rig to Hereford

HighPoint Resources Corporation (ticker: HPR) reported a net income loss of $24.9 million, or $(0.20) per share for the first quarter of 2018. HighPoint produced 1.91 MMBoe in the quarter, which was at the midpoint of its guidance range of …

OXY’s New Mexico Permian Wells Coming in with IP-30s of 3,100 BOEPD

OXY’s New Mexico Permian Wells Coming in with IP-30s of 3,100 BOEPD

Occidental Petroleum Corporation (ticker: OXY) reported a core income of $708 million for the first quarter of 2018, or $0.92 per diluted share. Total average daily production volumes were 609,000 BOE for the first quarter of 2018, compared to 621,000 …

Cimarex Produced 206 MBOEPD in Q1, with 55% from the Permian

Cimarex Produced 206 MBOEPD in Q1, with 55% from the Permian

Cimarex running 13 rigs: 10 in the Permian, 3 Mid-Con

Cimarex Energy Co. (ticker: XEC) reported first quarter 2018 net income of $186.3 million, or $1.96 per share. Total company production for the quarter came in at the high end …

Bonanza Creek Energy Bumps XRL Type Curves by 35%

Bonanza Creek Energy Bumps XRL Type Curves by 35%

Bonanza Creek Energy, Inc. (ticker: BCEI) posted a net income of $13.9 million, or $0.68 per share for the first quarter of 2018. Last year, the company had a net loss of $94.3 million, or $(1.91) per diluted share – …

Courtesy of RSP Permian

Futures Curve with Severe Backwardation is Laughable: Papa

CDEV likes oil’s prospects and New Mexico well results

Centennial Resource Development, Inc. (ticker: CDEV) reported a net income of $66.1 million, or $0.25 per share for Q1 2018. The company’s average daily net production was 54,069 BOEPD for the …

Sanchez Energy Produced 80.5 MBOEPD in Q1

Sanchez Energy Produced 80.5 MBOEPD in Q1

Sanchez Energy Corporation (ticker: SN) reported a net loss of $4.8 million for the first quarter 2018, or $(0.30) per share attributable to common stockholders. The quarter included $24.4 million in non-cash mark-to-market losses related to hedging activities, Sanchez said.…

Carrizo Oil & Gas Expects Production Near 60 MBOEPD in 2018

Carrizo Oil & Gas Expects Production Near 60 MBOEPD in 2018

Eagle Ford, Delaware drilling and completions are moving the needle

Carrizo Oil & Gas, Inc. (ticker: CRZO) had a net income of $14.7 million, or $0.18 per share in Q1 2018. The company went above the high-end of its guidance …

Eclipse Resources Finds Its Marcellus Wells’ Decline Curve “Much Gentler” than Expected

Eclipse Resources Finds Its Marcellus Wells’ Decline Curve “Much Gentler” than Expected

Eclipse Resources Corporation (ticker: ECR) reported a net loss for Q1 2018 of $2.6 million, or $(0.01) per share. Average net daily production was 315.2 MMcfe/d, consisting of 72% natural gas and 28% liquids.

The company had realized an average …

Multi-Basin Contango Pushes Permian Action – Looking for Eight More Southern Del Wells

Multi-Basin Contango Pushes Permian Action – Looking for Eight More Southern Del Wells

Contango Oil & Gas Company (ticker: MCF) posted a net income of $0.9 million, or $0.04 per share for Q1 2018. Production for the first quarter of 2018 was approximately 4.5 Bcfe, or 50.0 MMcfe/d.

President and CEO Allan D. …

RSP Permian Earns $90 Million, Production Up 39%

RSP Permian Earns $90 Million, Production Up 39%

RSP Permian Inc. (ticker: RSPP) posted a Q1 2018 net income of $89.6 million, or $0.57 per diluted common share. Production for the quarter increased 39% to 62.8 MBOEPD (72% oil, 87% liquids) compared to Q1 2017.

Drilling

The company …

Pioneer Selling Oil at Premium Pricing, Looks to Add 250-275 Wells to Production in 2018

Pioneer Selling Oil at Premium Pricing, Looks to Add 250-275 Wells to Production in 2018

Forecasts cashflow of approximately $3.2 billion at current strip prices for the remainder of 2018 – $66 per barrel for oil and $2.80 per Mcf for natural gas

Running 20 Permian Hz rigs

Pioneer Natural Resources Company (ticker: PXD) reported …

Courtesy of WPX Energy

WPX Energy: Daily Production 76% Higher than Year Ago

WPX Energy, Inc. (ticker: WPX) reported a net loss of $119 million, or $(0.30) per common share for the first quarter of 2018. Production for the quarter reached 102.7 MBOEPD, a 6% sequential increase over Q4 2017 and 76% higher …

Courtesy of Chesapeake

Chesapeake “Reinvents the Utica”

Chesapeake Energy Corporation (ticker: CHK) reported net income available to common stockholders of $268 million, or $0.29 per share for Q1 of 2018. Chesapeake’s average daily production for the first quarter of 2018 was approximately 554,000 BOE, compared to approximately …

Permian Juggernaut Concho Resources Reports $835 Million Net Income for Q1

Permian Juggernaut Concho Resources Reports $835 Million Net Income for Q1

Producing 228 MBOEPD, Running 20 Rigs

Concho Resources Inc. (ticker: CXO) bought home a net income of $835 million, or $5.58 per diluted share for Q1 2018. Last year at this reporting period, Concho had a net income of $650 …

Demand for Frac Sand is “Insatiable”: Hi-Crush CEO

Demand for Frac Sand is “Insatiable”: Hi-Crush CEO

Hi-Crush Partners LP (ticker: HCLP) reported a Q1 2018 net income of $53.1 million, or $0.59 per diluted share. Revenues for the quarter totaled $218.1 million on sales of 2,617,627 tons of frac sand. Capital expenditures in Q1 2018 were …

Noble Earns $554 Million in Q1

Noble Earns $554 Million in Q1

Noble Energy, Inc. (ticker: NBL) started off 2018 by reporting first quarter net income of $554 million, or $1.14 per share. Adjusted net income and adjusted net income per share attributable to Noble for the quarter was $172 million, or …

Courtesy of Encana

Encana Sees 30% Growth within Cash Flow

Encana Corporation (ticker: ECA) opened 2018 with Q1 net earnings of $151 million. This compares to Q1 2017’s net earnings of $431 million. Cash generated from operating activities reached $381 million, which compares to $106 million in Q1 2017.

Encana’s …

National Oilwell Varco: Six-Quarter Streak Snapped

National Oilwell Varco: Six-Quarter Streak Snapped

National Oilwell Varco (ticker: NOV) reported a first quarter 2018 net loss of $68 million, or $(0.18) per share.

Revenues for the first quarter were $1.8 billion, a decrease of 9% compared to the fourth quarter of 2017 and an …

Enterprise Rings in Q1 with $912 Million

Enterprise Rings in Q1 with $912 Million

Enterprise Products Partners L.P. (ticker: EPD) recorded the first quarter of 2018 with a net income of $912 million, or $0.41 per share. Last year, in Q1 2017, the company reported a net income of $761 million, or $0.36 per …

QEP Resources Reports Q1 2018

QEP Resources Reports Q1 2018

QEP Resources, Inc. (ticker: QEP) reported a net loss of $53.6 million, or $(0.22) per diluted share for the first quarter of 2018, compared to Q1 2017 when the company had a net income of $76.9 million, or $0.32 per …